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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.

     

     
     
      
     
     
     
     
     

     

    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.

     

     

    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.
     
  • Retirement Place

       Retirement Planning  

     

    The following list includes links to articles and information pages related to retirement planning and retirement accounts at Place Trade.

    If you do not find what you are looking for please feel free to call us at 919-719-7200 today.

     

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Learn more about retirement planning by visiting some of the links below:

Roth IRA

SEP IRA

SIMPLE IRA

Traditional IRA

Qualified Plans

Rollover IRAs

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