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Required Minimums

 

 

Minimum Requirements - Balance

Please Note: The requirements on this page are for brokerage accounts only. For For investment company accounts (which are different from brokerage accounts), please click here. (which are different from brokerage accounts), please click here.
 

 

Type of Account

 

Required Deposit - Cash or Equity 1 
Individual Accounts (unless listed below): Individual, Joint, Trust

Zero
Individuals age 26 or younger

Zero
IRA2: Traditional IRA, Roth IRA, SEP IRA, SIMPLE IRA3, Solo 401(k)3, Traditional 401(k)3 

Zero
Institutions: Partnership, Corporation, Limited Liability Corporation, Unincorporated Business 

Zero
International Accounts

Zero
Funds: 1 Including Mutual Funds and Hedge Funds Minimums vary by Investment (fund) company
Trading Group Masters USD 10,000 (or non-USD equivalent)
Broker Masters USD 10,000 (or non-USD equivalent)
Advisor and Broker Clients USD 5,000 (or non-USD equivalent)

Please Note:

  • To trade on margin/within a margin account you must maintain at least USD 2,000 or non-USD equivalent. For details on margin requirements, see the Margin page.

 

  • Pattern Day Traders (PDT) have higher minimum requirements, which are defined in the Day Trading section of margin requirements. Please note that we do not actually accept physical cash deposits as in dollar bills however we do accept cash deposits via traditional check, bank or brokerage account transfer, ACH, etc. 

 

  1. Accounts that show no balance will be closed. Margin accounts require higher minimums to meet regulatory requirements. To maintain real-time Market Data Subscriptions, Subscriptions, our clearing firm requires that you have at least USD 200 or non-USD equivalent (USD 500 for Financial Advisors). Click here to learn more about Minimum Equity Balance Requirements to maintain or reactivate market data in an account.
  2. In addition, US Regulators require USD 25,000 (or non-USD equivalent) to Day Trade stocks and options.
  3. SIMPLE IRA, Solo 401(k) and Traditional 401(k) are available through Place Trade in two ways:  

First and in traditional qualified account form they are managed by Place Trade and held in custody directly with an investment company (usually held in mutual funds). The qualified plan will receive traditional qualified tax reporting via the investment company that holds your account in custody.
 
Second, in trust for the benefit of the qualified plan they may be held in a brokerage account directly with Place Trade (held in stocks, bonds, options, mutual funds and other investments). Accounts are set up in the name of the trust FBO the qualified plan. Trust documents must be submitted when opening the trust account. The trust will receive a 1099 for ax reporting. No qualified plan reporting will be made by Place Trade or our clearing firm.

 

Please note that, unless you are a broker, advisor or trading group master, you Do NOT need $10,000 to open an account. If you see a message that says this in the account application/funding your account process, please let us know right away. This is not the case! 

 

 

For investment accounts that are managed by Place Trade and held fund direct or under custody at investment companies:

Each investment company sets their own minimum requirements to open an account. For automatic mutual fund investors you may be able to start investing with as little as $50-100 per month. Please give us a call today at 1-800-50-PLACE or 1-919-719-7200 to get started. 

 

  

 

Read more about getting started at Place Trade and minimum account requirements below:

Welcome to Place Trade. Feel free to call us at 1-800-50-PLACE (507-5223) and we will be happy to help you get started, open your account, transfer your account from another firm, rollover your IRA or 401(k), review our super low margin rates or discuss the different options available to you.

 

Domestic Accounts

Place Trade Financial does not require a minimum equity investment to open Individual, Joint, Trust, Corporate and Partnership brokerage accounts as well as mutual and hedge fund management accounts. Accounts may be funded with any combination of cash and/or equity securities. It does not have to be all cash. 

 

International Accounts

Place Trade Financial offers clients the opportunity to trade in over 100 market centers/exchanges around the world. Place Trade's award winning trading platforms are available in multiple languages and currencies.

Place Trade clients may choose a base currency to trade in and are not required to deal in US dollars ($). When you open your account you will have the opportunity to choose your base currency from most major currencies around the world as well as the language that you wish to trade in. As with all other accounts; you must have the availability of cleared funds prior to investing. Receipt of wire transfer of funds from a US affiliated bank constitutes "cleared funds."

 

No Minimum Equity Investments for International Accounts

Place Trade Financial does not require a minimum deposit to open an international account. Open an account with equity in any combination of US dollars and/or US exchanged traded securities.  

 

 

No fees for postage and handling fees for domestic or international accounts.

Brokerage accounts are not charged for postage and handling as all statements, confirms and other notifications are delivered electronicallyto your online account. If you elect to receive your confirmations via US mail, each confirmation, statement, notification, etc. will have a postage and handling fee assessed. Please besure to check your messages in your Message Center (which is located in Account Management under the Support tab), regularly. Statements are located in Account Management under the Reports tab.

 

  

 

Place Trade Financial offers a variety of account types including:

  • 401(k) Rollovers, Individual/Joint, Investment Club, Partnership, Corporate & Custodian accounts as well as investment management accounts for professionals including mutual funds and hedge funds.

If you wish to invest in mutual funds, in an investment company account (which is different from a brokerage account), you may begin with as little as $100 per month in an automatic investment account. It is super easy to get started! Please call us at 919-719-7200 for more details.

 

FYI:

 

  • Managed accounts, held fund direct or with Investment Companies, are EXCLUDED from these minimums as each individual investment company sets its own minimum policy. Please speak with your financial advisor for more details. 

  • Automatic investment purchases are available starting at $100 per month for investments held fund direct! Please call us at 1-919-719-7200 for more information today.

 

What are SEC fees?

 

Stock Commissions

 

Asia-Pacific Markets           European Markets           North American Markets

  


 

 

  

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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