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  • Account Configuration

  • Account Configuration: Account Types

     

    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, orPortfolio Margin account types. For more specific information on margin calculations, please see ourMargin 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 ifminimum 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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  • Account Configuration: Customer Types

     

    Account Configuration: Client Types 

    How to Choose and Configure Your Account

    Overview Configuring Your Account Trading Requirements Trading Permissions Market Data Required Minimums
    		 
     

     

    What Types of Customer/Client Accounts are available via your Place Trade (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. The information on the following charts refers specifically to brokerage accounts (only). Brokerage accounts are available for trading stocks, options, mutual funds, ETfs, bonds and more.  
     
    For more information regarding 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) or to get financial advice please call your personal advisor at 1-919-719-7200 today.

     

    PT offers accounts for both Single Client Types and Organization/Institution Client Types to meet the needs of the following types of accounts:. 

     

       

    Trader and Investor Accounts

    		    

    Institution Accounts

    		  
       
    • Individuals
      (Joint, Trust, IRAs* and UGMA/UTMA
    • Retirement Accounts: Individual and Business)
    • Small Businesses
    • Family Offices
    		    
    • Advisors
    • Money Managers
    • Brokers 
    • Proprietary Trading Groups
    • Hedge and Mutual Funds
    • Administrators
    		  
    		 
     
     
    *IRAs Accounts are included under the Individual section of the online account application. Please call us right away at 1-919-719-7200 if you do not see the section to choose the specific type of retirement account that you wish to open. If you proceed without choosing it you will have to start over and we would like to help you to save time so please do not hesitate to call us.   
     
    Please Note: All accounts are US based as Place Trade is a US based corporation.To learn about tax reporting and other information for Place Trade accounts please visit our Tax Information and Reporting section which covers information for both US and Non-US based clients. 

     

    Single Customer Types

     

             
     

    Customer Type

    Available Account Structures

    Explanation

    		  
             
     

     

    Individual

     

    • Individual, Joint, Trust, IRA
    • Advisor 
    • Advisor Client 
    • Broker Client 
    • SIPP (UK Residents only)

     

     

    An account owned and utilized by a single trader or investor. A Single account can be linked to multiple Single or IRA accounts.

    		  
     

     

    Joint

     

    • Individual, Joint, Trust, IRA
    • Advisor Client
    • Broker Client 

     

     

    An account owned and utilized by two individuals. Depending on the laws of your state of residence, there are three types of joint accounts: Tenants with Rights of Survivorship, Tenancy in Common, and Community Property.

    		  
     

     

    Trust

     

    • Individual, Joint, Trust, IRA
    • Advisor Client
    • Broker Client

     

     

    An account in which the securities are registered in the name of the trust, while a trustee controls the management of the investments.

    		  
     

     

    IRA

     

    • Individual, Joint, Trust, IRA
    • Advisor Client
    • Broker Client

     

    Individual Retirement Account. We offer the following types of IRA accounts:

    • Traditional
    • Traditional Rollover
    • Traditional Inherited
    • Roth
    • Roth Inherited
    • Simplified Employee Pension (SEP)
    • Simplified Employee Pension (SEP) Inherited

    This account is only available for a US resident individual. An IRA account can be linked to multiple Individual or IRA accounts.

     Please visit Retirement Planning or call your advisor at 919-719-7200 for more information on IRAsand other Qualified Plans.

    		  
     

     

    IRA Trust

     

    • Advisor Client

     

    An IRA account held at a designated Third Party Trustee.

    This account is only available as a client account for a U.S Advisor.

     

    		  
     

     

    UGMA/UTMA  

     

    Individual

     

    • Family Office
    • Advisor
    • Fully Disclosed Broker An account intended for a custodian of a minor who is a US resident.

     

    		  
     
      
     
    Open an Account     Continue or Finish Your Application     How to Choose and Configure Your Account
     
     
     
     

     

    Organization Customer Types

    Back to the top 

             
     

    Customer Type 

    Available Account Structures

    Explanation

     
             
     

     

    Corporation

    		  


    • Small Business
    • Advisor
    • Advisor Client
    • Broker
    • Broker Client
    • Proprietary Trading Group
    • Fund

     

     

    An account in the name of a corporation, managed on the corporation's behalf by the corporation's officers or authorized traders.

    		  
     

     

    Partnership

     


    • Small Business
    • Advisor
    • Advisor Client
    • Broker
    • Broker Client
    • Proprietary Trading Group
    • Fund

     

     

    An account in the name of a partnership, managed on the partnership's behalf by the partnership's officers or authorized traders.

    		  
     

     

    Limited Liability Company

     
    • Small Business
    • Advisor
    • Advisor Client
    • Broker
    • Broker Client
    • Proprietary Trading Group
    • Fund

     

     

    An account in the name of a limited liability company ("LLC"), managed on the LLC's behalf by its officers or authorized traders.

    		  
     

     

    Unincorporated Business

     
    • Small Business
    • Advisor
    • Advisor Client
    • Broker
    • Broker Client
    • Proprietary Trading Group
    • Fund

     

    An account in the name of an unincorporated business, managed on the business' behalf by the business officers or authorized traders.

    		  
             
      When considering fees please consider the overall low cost of trading, ultra low margin rates, access to experienced financial consultants and great customer service that you enjoy at Place Trade. We believe that we offer the lowest overall trading cost of any full service broker.    For information regarding fees please call us at 1-919-719-7200.

     

    • 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.

     

     

    Helpful Links:

     

     

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

     

     

     

    Open an Account     Continue or Finish Your Application     How to Choose and Configure Your Account

    Footnote one: Portfolio Margin accounts are not available for IB Canada customers due to IDA restrictions.
    Footnote two Please note that for commodities, including futures, futures options and single stock futures, "margin" refers to the amount of cash that must be put up BY THE CLIENT as collateral to support a transaction, in contrast to margin for securities which refers to the amount of cash a client borrows from IB.
    Footnote three: Accounts with Prime services require a minimum of USD 1,000,000 or USD equivalent.
    		  

  • Application for Individual, Joint, Trust, IRA and UGMA/UTMA Accounts Clients - Learn More

     

     

    Application Information for Individual, Joint, Trust, IRA and UGMA/UTMA Accounts Clients

    Start a New Application     Learn More

    		  
     

    Learn More about Brokerage Accounts for Traders and Investors

       
     
    • A single account with a default single user.

     

    • Must be 21 or older to open a margin account, 18 or older to open a cash account.

     

    • Add up to five optional Power of Attorney users.

     

    • Accounts are accepted from residents of all countries except those countries that are prohibited by the US Office of Foreign Assets Control. Click here for a list of available countries. 

     

    • A UGMA/UTMA account is intended for a custodian of a minor who is a US resident and is available as a Cash account only. Minimum deposit is 3000 USD or non-USD equivalent and the monthly activity fee for age 25 or younger applies. A UGMA/UTMA account is a single account with a default single user (the custodian), and up to five Power of Attorney users may be added. The minor for whom the account is opened must be a US legal resident and a US citizen.

     

    • Please Note: There are different requirementsfor mutual funds that are held fund direct. Please call your advisor at 919-719-7200 for more information today!
    		  
     

     

    		  

     

       Application Accounts Types  
     

     Individual or IRA Account Structure             Joint Account Structure             Trust Account Structure                 UGM / UTMA Account Structure

    		  

    For important information about account security, please see our Account Protection page available via this link.

     

     

    What to Expect in the Application Process

     

     

    The Progress Bar:

    The Progress Bar lets you know where you are in the application and how long it should take to complete each section. It shows you the sections you have completed and the section in which you are currently working.

    Steps: 1 Create            2 Details           3 Funding          4 Approval          5 Configure          6 Agreements          7 Complete 

    		  
       New Account Application  
     

     

    • Create: First we create your account for you using your desired username and password.
    • Details: Next, you enter information about yourself, the products you wish to trade and your trading qualifications.

    • Funding: Then you tell us how you intend to fund your account. Note that you are not required to fund your account prior to approval.
    • Approval: After you complete the first three sections, we review your application for approval. Note that we sometimes require you to provide paper documents before we can complete the approval process.

    • Configure: In the ProTrack Application, while we review your application, configure the trading permissions and select market data subscriptions. In the FastTrack Application, we configure your trading permissions and market data subscriptions for you based on your selected country.

    • Agreements: Electronically sign agreements and disclosures, which PT is required to provide.

    • Complete: Once your account has been funded and activated, you are ready to trade!

     

     

    You will be notified by email of the results of our application review. You can also check the status of your application at any time by selecting Finish an Application from the Login menu of our website or by following this link. Fully completed applications are usually processed within 48 business-day hours under normal business conditions. For information regarding fees please call us at 1-919-719-7200.
     
               
    Configure Account - Overview
     Account Types
    Trading Requirements
    Trading Permissions
    Required Minimums
    Maket Data Overview 
    		 
                            

     

     

  • Configuring Your Account - How to set up your account

     

    Configuring Your Online Trading Account

    How to Choose and Configure Your Account

    Overview Configuring Your Account Trading Requirements Trading Permissions Market Data Required Minimums

     

     

    Overview - How to set up your account

         
      Please Note: the following information refers to configuring your online trading/brokerage account. Full service clients and mutual fund investors may have different requirements. Please speak with your advisor for details by calling 1-919-719-7200 for more information.  
         

     

    All Place Trade accounts are fully and easily configurable to meet the needs of traders, investors and institutions. You will have the opportunity to set your initial configuration when you fill out your new your account application. If you wish to customize your experience further you may choose from many more settings, which you can easily modify at any time, after your account is open. (If you wish.) Changes may be made via Account Management.

     

     

    Account Configuration

     

    		  

    Trading Configuration

     

    		  
     

     

     

     

    		  
     
    • Account Structure - The first decision you make about your PT account is to select an account structure. PT has account structures designed for individual traders and investors, and account structures designed for institutions. Move your mouse pointer over Open An Account on our website menu to view all of our available account structures.

     

    • Customer Type - Once you select an account structure and begin your account application, you select one of several customer types to further identify the type of PT account you want to open. Individual and institution account structures can be combined with different customer types.

     

    • Base Currency - The currency of translation for your statements and the currency used for determining margin requirements.

     

    • Account Type - How your account will be margined. Cash, Reg T Margin and Portfolio Margin configurations are available. IRA accounts can be either cash or margin accounts.

     

    • Pricing Structure - The commission structure for products you trade. See our Commissions page for more information.
    		  

     

    • Trading Permissions - Which products you can trade and in which locations. When you specify trading permissions, you will be asked to sign any risk disclosures required by local regulatory authority.

     

    • Market Data Subscriptions - PT provides real-time streaming market data for free or at the price we are charged by the exchange.

     

    • Research Subscriptions - Subscribe to a variety of comprehensive news, fundamentals and research subscription services.

     

    • Trading Requirements - Financial and trading information about you, including net worth and income, investment objectives and experience, determines your qualifications for trading certain products.

     

     

     

     

    		  
             

     

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  • Funding & Transfers

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Find out how Place Trade can help you get the most out of your college planning by visiting some of the links below:


Coverdell ESA

529 College Savings Plans

UGMA/UTMA Accounts