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Account Configuration: Account Types 

 

Overview Configuring Your Account Trading Requirements Trading Permissions Market Data Required Minimums
  Account Structures Client/Customer Types Base Currency Account Types Pricing Structure

 

 

What Types of Client Accounts are available via your PT brokerage account?

 

PT offers both full service and online trading brokerage accounts as well as other types of investment accounts including accounts that are held fund direct. To get financial advice or to learn more about other types of investment accounts that are available in addition to a traditional brokerage account (including the account types listed below as well as 401(k), SIMPLE, 403(b) accounts and more) please call your personal advisor at 1-919-719-7200 today.  

When opening your account you have a choice of Reg T Margin, Reg T IRA, Cash, or Portfolio Margin account types. For more specific information on margin calculations, please see our Margin Requirements page.

For more information on setting up (configuring) your IRA / Retirement Accounts please follow this link.

 

The following table provides a quick-glance comparison of these accounts. Please note that this table refers specifically to brokerage accounts (offering stocks, options, mutual funds, ETFs, bonds and more that are held in your brokerage account). For full service accounts may not be held under these same requirements. 

 

Compare Available Account Types and Securities Available in Each Type of Account

 

 

Investments

 

Reg T Margin

 

Reg T Margin - IRA

 

Cash (Including IRA accounts)

 

Portfolio Margin1

 

Stocks & Warrants

 

 

 

 

 

 

 

Margin is calculated on a real-time basis

Immediate position liquidation if minimum maintenance margin requirement is not met. 

Purchase and sale proceeds available immediately. 

US securities regulations require a minimum USD 25,000 in equity or equivalent to day trade.

 

 

Cannot borrow cash i.e. have a debit balance or short stocks.

 

 

 

 

 

 

 

 

Account must have enough cash to cover the cost of stock plus commissions. 

Shorting not allowed. 

Cash from the sale of stocks is available three business days after the trade date. 

Account may trade in different currencies but must have the settled cash balance to enter trades. 

When authorizing market, relative and VWAP orders, a 5% cash cushion is required to compensate for market movements.

 

Margin is calculated on a real-time risk basis. 

Immediate position liquidation will occur if the minimum maintenance margin requirement is not met. 

Purchase and sale proceeds available immediately. 

US securities regulations require a minimum USD 110,000a or equivalent for this account. If your account drops below USD 100,000, Reg T margin requirements will apply.

 

Bonds

 

 

 

 

Margin is calculated on a real-time basis

Immediate position liquidation if minimum maintenance margin is not met. 

Shorting not allowed. 

Purchase and sale proceeds available immediately.

Cannot borrow cash i.e. have a debit balance or short stocks.

 

 

 

Account must have enough cash to cover the cost of bonds plus commissions. 

Shorting not allowed. 

Cash from the sale of bonds is available three business days after the trade date 
 


 

Same as Reg T Margin account type.

 

 

 

 

Stock & Cash Index Options

 

 

 

 

 

 

 

 

 

 

 

Margin is calculated on a real-time basis. 

Immediate position liquidation if minimum maintenance margin requirement is not met. 

Purchase and sale proceeds available immediately. 

To purchase options the entire premium plus commissions must be deposited. 

To sell options and other strategy-based combos, the margin requirements and commissions must be covered. 

US Securities regulations require at least 25,000 USD in equity or equivalent to day trade. 

Option market value may never be used for the purpose of borrowing funds.

 

Cannot borrow cash i.e. have a debit balance or short stocks.

 

 

 

 

 

 

 

 

 

 

For information on combination strategies that require borrowing and consequently are not available, see the Reg T Margin IRA column on the Options Margin Requirements page.

Full payment required for all call and put purchases. 

Covered call writing is allowed, but the underlying stock must be available and is then restricted. 

Naked put writing is allowed, but the funds must be available and then are restricted. 

Cash from the sale of options is available one business day after the trade date.

 

 

 

Same as Portfolio Margin requirements for stocks.

 

 

 

 

 

 

 

 

 

 

Mutual Funds

 

 

 

 

 

 

 

Margin updated once per day at closing of funds. 

Position liquidation on end-of-day basis if minimum maintenance margin requirement is not met. 

Purchase and sale proceeds recognized end-of-day when order has been submitted and received. 

Shorting not allowed. 

Borrowing allowed 30 days after purchase of fund.

 

 

Cannot borrow cash i.e. have a debit balance or short stocks.

 

 

 

 

 

 

 

Account must have enough cash to cover the cost of funds plus commissions. 

Cash from the sale of funds is available one business day after the trade date. 

Only available to US legal residents.

 

 

 

 

Same as Portfolio Margin requirements for stocks.

 

 

 

 

 

 

 

Please Note:

  1. N/A
  2. Fees are charged in the currency of the traded product and liquidations may occur if fees result in negative (short) non-base currency balances.

Margin accounts have the ability to trade in all available countries.
IRA accounts can have cash or margin trading permissions, but margin accounts are never allowed to borrow cash (have a debit balance) as per US IRS regulation.
Cash accounts may be upgraded to Reg T Margin accounts but Reg T Margin accounts may not downgraded to cash accounts.
In SIPP accounts, the initial and maintenance margin requirements for commodities are 150% of their normal margin requirements. Commodities include futures, futures options and single stock futures.

Forex & Futures Trading are not available at this time.
Accounts with Prime services require a minimum of USD 1,000,000 or USD equivalent.

 

Pricing Structure

PT offers securities on different market centers around the globe. Each region will have its own commission pricing structure. To be more specific, the main commission rates quoted on this site (e.g., stocks USD 0.01 per share with a minimum of USD 1.50) are for the US securities market only and all commission rates are listed for online trading clients only. (Full service commission rates are not included here - please contact your advisor for full service commission rates.) 

You will be charged different rates when you trade on other international markets. To calculate commissions for your specific trades please see the pricing schedules for the appropriate market centers; including our Commissions page for US markets and by using the links below for all other markets: 

 

Stock Commissions for Asia-Pacific Markets      Stock Commissions for European Markets      Stock Commissions for North American Markets

 

Please call your advisor at 919-719-7200 for more information or for assistance with setting up your account. 



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