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  • Excess Margin Securities


    Excess Margin Securities 


    The term "excess margin securities" refers to securities held in a client's margin account that have not been completely paid for or are being pledged by the customer as collateral to support the purchase of other securities on margin and whose market value exceeds 140% of the customer's margin balance.


    A customer whose account equity consists solely of a cash balance of USD 10,000 on Day 1 purchases 400 shares of stock ABC at USD 50 per share on Day 2.


    Account Balance Day 1 Day 2
    Cash $10,000 ($10,000)
    Stock $0 $20,000
    Total $10,000 $10,000



    On Day 2, the customer's excess margin securities total USD 6,000. This is calculated by subtracting 140% of the margin debit or loan balance from the market value of the stock position ($6,000 = $20,000 - {1.4 * $10,000}).

    The term is relevant from a regulatory perspective as the SEC requires that U.S. broker dealers segregate and maintain in a good control location (e.g., DTC or bank) all customer securities which  are deemed excess margin securities.  Such securities cannot be pledged or loaned to finance  the activities of the firm or other customers.  The portion of the securities classified as margin securities ($20,000 - $6,000 or $14,000 in this example) are subject to a lien and may be pledged or loaned by the broker to assist in financing the loan made to the customer.

    Note that securities which were excess margin at the date of acquisition may later be reclassified as margin or fully paid securities based upon the customer's subsequent trade and/or borrowing activity. For example, if the loan value of excess margin securities is subsequently used to acquire additional securities on credit, a portion of securities will then be reclassified as margin securities and subject to a lien. If the customer subsequently deposits cash or sells securities in an amount necessary to repay the margin loan, the securities will be reclassified as fully paid and are required to be segregated.

    See also "fully paid securities".

     Related Articles:

  • Funding & Transfers

  • Funding Reference ~ FAQs

    Fund Transfers

    Position Transfers

    Transaction History

    Settlement Instructions


     General Funding     Transfer Account (ACATS)     Deposits 

    How to Fund your Account - FAQs




    General Funding



    How do I find out about the status of my account application?


    Once all account application materials/documents have been received at PT, the application will be reviewed and a decision will be made to either accept or decline the account. An email will be sent to the applicant informing them of the decision. Under normal circumstances your account should be approved and open for trading on the same day or the following day after your application and documents have been received.

    While waiting for the account to be approved, you may log into Finish a New Account Application to view your latest status.

    Please be sure to check your email during this time as we may send an email requesting additional information and we will not be able to proceed until we have received your response or any additional information/documents requested.


    Can I fund an account in a different currency than the base currency?


    Yes. Here are the currencies that you can use to fund your account:


    Not all of the currencies listed above can be used as your base currency. For a list of eligible base currencies, see the Configuring Your Account page for Base Currency.


    Will you convert funds from one currency to another?


    No, PT does not convert funds to different currencies. In addition, PT does not offer Forex (FX) trading.

    Please Note:

    Deposits that are improperly routed to a bank account that has not been designated to accommodate deposits in your selected currency may be rejected or automatically converted to the local currency based on the policies of the bank. As Place Trade is unable to assume the risk of such errors, please be sure to provide your bank with the correct routing instructions displayed when your Deposit Notification is created.



    Can I transfer money between different PT accounts? 

      Yes. Please see PT's Internal Funds Transfers page for instructions and details.  

    Is my account insured?


    The securities portion of your account is insured for up to $30 million regardless of your country of residency. Excess funds in your commodities account are swept into your securities account at the end of each day. Click here to learn more about how your account is protected including specifics on your insurance protection.


    Can my Financial Advisor or my online trading account personal advisor withdraw my funds?


    No, only you or someone that you specifically authorize through Account Management can request a withdrawal on your behalf. Please note that you cannot authorize your financial advisor to withdraw funds on your behalf. We recommend that you, and only you or other account holders, withdraw funds from your account. It is very simple and fast!Place Trade cannot be responsible for the actions of individuals that you authorize to act on your behalf.

    It is important to note that Place Trade does not allow third party deposits or withdrawals and does not allow withdrawals to be sent to accounts without the exact same title that matches your Place Trade account. (E.g., Jane J. Doe to Jane J. Doe.) In order to deposit or withdraw funds, you must first set up banking instructions and either a deposit or withdrawal notification (such notifications serve in a manner similar to an electronic depositor withdrawal slip which you will create inAccount Management)If you need assistance settig up a notification please call us at 919-719-7200 and we will be happy to assist you with the process.


    Where can I view transactions for deposits and withdrawals in the past 90 days?


    The fastest way to find the latest status of any deposit, withdrawal, internal transfer or position transfer request is by viewing the Transaction History page in Account Management. To locate this information please log into Account Management and click on the Funding tab/section. The dropdown menu under Funding will allow you to view the Transaction History for Fund Transfers, Cash Deposits or Withdrawals as well as position transfers. (In this case the maximum time frame that may be reviewed is 90 days.) 

    Looking for a transaction that occurred more than 90 days ago?

    Your account statements, which are also available in Account Management, offer detailed information on deposits made over longer time periods. Account statements are available through the previous trading day therefore, you will need to refer back to the Transaction History page in order to see any deposits made today.

    Customizable account statements are available for your convenience and may be located within Account Management under Reports -> Activity Statements.

         Investor Education

    Automated Customer Account Transfer Service (ACATS)


    What is ACATS?  What is an ACAT?


    The Automated Customer Account Transfer Service (ACATS) is the National Securities Clearing Corporation's (NSCC) central processing system for the transfer of positions and accounts between brokerage firms that are participants in the NSCC's ACAT program. In short, it is a fast and efficient way to move accounts from one brokerage firm to another.


    What does the ACAT system enable me to do?


    The ACAT system would allow you to easily enter a partial or full transfer request online to move positions and or cash from other ACAT participant firms.


    How long does an ACATS transfer usually take?


    Under normal circumstances, an ACATS transfer should take between four to eight business days. In certain circumstances, such as an attempt to transfer acceptable, no-load mutual fund shares or non-US assets, this process could take longer. If your assets have not been transferred within 5 business day please give us call at 1-919-719-7200 and let us know. While the sending broker (your old broker) does not have to act this quickly, most brokers do act well within this time frame and if they have not we will work to find out if your request has been delayed, whether or not it has been rejected or if there are other issues that need to be addressed.


    Should I already have an account open before I initiate an ACATS transfer to PT?


    An ACAT can be entered as an initial funding method in an application, but the request will not begin processing until application approval is granted. ACATs can be submitted through the Account Management menu for any existing account.


    How do I initiate an ACAT?


    ACATS transfers may be initiated as part of the funding section within the new account application as well as via Account Management.

    To set up an account transfer through Account Management please follow these simple steps:

    1. Log in to Account Management
    2. Select Position Transfers from the Funds Management menu
    3. Select ACATS – US Broker Transfer from the Transfer Method drop down list
    4. Choose Full or Partial as the type of ACATS transfer
    5. Select the firm from the Source drop down list 

    Please note that you will need the firm's account number (your account number for the assets that are held at the account that you are moving away from/where your assets are currently being held).

    If you choose Partial as the type of ACATS transfer, you will be prompted to select the assets you want to transfer. In this case please be careful to ensure that you have entered the correct symbols AND checked that the appropriate exchanges are covered. Because we offer international trading (we offer securities that trade on over 100 exchanges around the world), we often find that the same symbols are used for different securities on different world markets. If you enter a symbol for a US security you should be careful to check to see if you have US Securities markets/exchanges checked as well. Otherwise you may accidentally enter a security, which you do not hold in the account that you are transferring, that trades on another market. In this case your ACAT request will automatically be rejected because you do not hold the securities that were entered incorrectly. 


    What if my current brokerage firm is not listed on the Source drop-down list?


    The drop-down list displays Clearing Firms that are participants in the ACATS program. Not all firms are self-clearing. If you do not find your firm on the list, please contact one of their representatives to confirm that they participate in the ACAT system. If yes, ask what firm they clear their transfers through. It may also be helpful to obtain their clearing firm's DTC number if available. The clearing firm's name and information may be located on your account statement so you may wish to check that first to save yourself some time.


    What products can I transfer? 


    Place Trade accepts only products that are available for trading and deemed transferable by the NSCC. Certain products, such as Commodities/Futures, Limited Partnership Units and Restricted Securities are not transferable.


    What kind of accounts can be transferred to my PT brokerage account?


    The ACAT system facilitates the transfer of identically titled/typed accounts between participant firms (i.e. John Doe to John Doe, or Jane Doe, Traditional IRA to Jane Doe, Traditional IRA). In certain instances, the delivering firm may make exceptions to validate requests between non-identical titles (i.e. John E. Doe to J. Edward Doe). New, existing and prospective clients please call us at 1-919-719-7200 for assistance. Existing clients (only) may also contact Funds and Banking directly at 1-877-442-2757 for assistance for questions on common acceptable circumstances. Please have your account number handy when you call.

         Investor Education



    My bank debited my account for the ACH transfer and yet PT has a hold period of four business days. Why?


    PT receives value on the business day following its processing date for ACH deposits initiated via the PT website. However, an ACH deposit is essentially an electronic check and therefore the originating bank can reverse the transaction and in this case PT’s bank account will be debited (in the same way that a bounced check would be reversed), because the sender has non-sufficient funds, closed the bank account etc. Therefore, PT has implemented a four-business day hold period to protect itself against these reversals.

    PT wishes to keep its commissions as low as possible and therefore it avoids preventable losses. We encourage our clients to send funds via bank check or wire if they require immediate availability of funds.


    Where do I enter the ACH Test transactions that I received at my bank?

      Once you have received your two credits and debits in your bank account you may log intoAccount Management and enter them under Home -> Pending Requests or Funds Management -> Transaction History -> Bank Instructions. At this time, it is likely that you will see a red button (with a number on it) next to the Pending tab as soon as you log into your account. This tab will include any pending items that need to be addressed including quick access to enter the ACH debit and credits.  

    My bank debited my account for the check that I sent to PT the next day and yet PT has a hold period of seven business days. Why?


    Neither PT nor our clearing firm (IB) knows exactly when client checks actually clear. Our clearing firm has a corporate account and our bank credits corporate accounts based on the expected clearing date of the check. The bank uses ABA routing numbers as a proxy to determine how long it will take a check to clear. For example, PT will receive value on a check drawn on a New York bank faster than it will receive value on a check drawn on a California bank.

    Check processing speed has improved because of system developments other than Check 21. However, the return check process does not seem to have improved yet. When the maker’s bank receives a check for payment it either provides payment or submits notification to the payee’s bank that it will not honor the check for payment because of non-sufficient funds, closed account etc. PT’s bank receives the notification of a returned check via the Federal Reserve and deducts the funds from PT’s bank account since it originally credited PT based on an estimated funds availability schedule (not when the check actually clears). PT then reverses the funds to its client’s PT account. There is no set time frame for returned checks and PT has experienced returned checks up to seven business days.

    Before PT implemented the seven-business day hold period, it experienced losses from returned checks. PT wishes to keep its commissions as low as possible and therefore it avoids preventable losses. We encourage our clients to send funds via bank check or wire if they require immediate availability of funds.


    My bank debited my account for the Fedwire that I sent to PT and yet PT has not credited the funds to my account yet. Why?


    PT's bank typically posts incoming wires to PT's bank account within a few minutes. However, bank posting delays may occur on days with heavy Fedwire activity.

    PT retrieves incoming wires to its bank accounts every 15 minutes during business hours and, if there is match to a deposit notification, our system automatically posts the funds to the client's account.

    Posting delays to client accounts can occur because:

    • the client did not submit a deposit notification(Deposit notifications are required and serve in a similar manner as a deposit slip to avoid processing errors. Location: Account Management > Funding > Fund Transfers)
    • the sending bank improperly formatted the wire (and therefore client identifiers do not appear on our bank reports)
    • the sending bank misspelled the client’s name or incorrectly input other client identifiers so an automatic match to the deposit notification cannot occur
    • PT's bank did not display the client identifiers on its bank reporting system (we then ask our bank for additional details on the incoming wire)

    If we cannot identify the client, then PT will return the funds to the sending bank. This can often be avoided by ensuring that you have triple checked that your deposit notification (that you entered via Account Management) includes your exact bank information and that you have given your bank the exact information that we provide to you after you have filled out the deposit notification (which includes line by line specific information that your bank will need to process your wire request). Please ask your bank to read the information back to you so that you may confirm that they have the proper information to process your request.

    1Please Note: In some cases you will not see that a Fedwire has been processed on a given day due to heavy activity or for wires that were initiated late in the day; in this case it may be booked "as of" the processing date. You will be able to see the posting on the following day (as of the previous day/date of actual posting).



    Does PT accept physical/paper stock certificates?


    No, PT does not accept physical stock certificates.

    How can I put my securities in my brokerage account if you will not accept paper/physical certificates?

    In order to add your paper/physical shares to your PT account you will need to send your paper/physical certificates to the transfer agent (the name of the transfer agent for your particular shares is listed on your stock certificate - often in the lower right hand side of the front of the certificate). Once your transfer agent receives your shares and moves them into electronic form we may transfer the shares to Place Trade.

    Please contact your transfer agent for their specific requirements (for receiving certificates as well as for transferring shares to your PT brokerage account) as they may vary from agent to agent. We do not have their requirements so you must contact them for this information. Transfer agents generally do not include their contact information on the physical certificate however you can easily find this information by entering the transfer agent's name into Google. 

    Please note that you must have an account set up and have USD 100 in available funds settled in your account before we can process the incoming transfer of your shares. Our clearing firm requires this deposit which may be used to cover expenses incurred due to errors or issues that are outside of their control. The funds will remain in your account and a fee will not be charged unless actual errors or issues have incurred. Although most clients do not incur this fee our clearing firm will not begin the process prior to receiving cleared/settled funds in the client's account. There is a great deal of work involved in this process and it is important that we receive the correct information from you (that you should receive from your transfer agent) to help avoid errors.

         Investor Education


  • Funding Reference ~ How to Make a Deposit - Slip / Notification

    Fund Transfers

    Position Transfers

    Transaction History

    Settlement Instructions


    Deposits    Withdrawals     Internal Funds Transfers



    How to Make a Deposit Notification (Deposit Slip)



    Setting up a Deposit Notification is super fast and easy! Simply Log into Account Management and then:



    How to enter a deposit notification - Fill out an electronic slip - Deposit Funds - Add Money to your account


    How to set up a deposit notification so that I can add money to my account? 

    Use these Simple Steps to Set up your Deposit Notification:

    1. Click on the Funding tab (located on the menu)
    2. Under Transaction Type: Select Deposit 
    3. Under Currency: Select the currency of your deposit
    4. Under Method: Select how you plan to make a deposit (ACH, Bill Payment, Wire1, or Check2)
    5. Under Amount: Enter the amount of the deposit
    6. Under Saved Information:  Choose whether or not you wish to use an existing bank information (that you have previously entered and saved) or if you wish to enter new banking information.  To enter new bank instructions simply fill in your bank information as requested.  You may enter Delivering Instructions as well as Recurring Transactions information below this as well.
    7. Click Continue
    8. Read and PRINT the deposit notification confirmation and then click OK.  You must print the confirmation before you click OK!
    9. Arrange with your financial institution to transfer funds to your PT account (based on the type of transfer notification that you choose).  Please note that setting up a notification in Account Management does not automatically transfer money to your PT account.  For example, if you wish to wire funds to your account you must initiate the wire itself at your bank before the funds may be transferred.  You will receive the exact wire instructions (from us) that you will need to provide to your bank in Step 8 (above) of the Deposit Notification process. 


    For checks, please remember to include your account number on the check before sending it in with your deposit notification.  




    Why do I need to make a deposit notification when I just want to add money to my account?

      Our clearing firm requires that you provide a deposit notification (you may think of a deposit slip) along with the funds that you add to your account.  Deposit notifications make it easier to match your funds with your account and help to insure that funds are routed to your account as efficiently as possible.  With the very large number of accounts that send money via check, ACH, wire, etc. every day, a deposit notification helps simplify the funding process and avoid delays or even potential processing errors.  Don't worry, it is easy and only takes a minute!  



    Looking for Wire Instructions or for How to Address a Check?1,2

    Once you fill in your deposit notification you will receive a page with instructions that tell you exactly what you need to know to quickly and correctly fund your account.  (In addition, this will serve as your deposit slip for checks that you plan to deposit/mail in to your account.)  This information includes how to make out a check and the where to mail it as well as the exact - line by line - information that you will need to provide to your bank if you plan to wire funds into your account and more! 

    Please Note:

    There are two types of deposit methods: Deposit Notifications, and Deposits thatactually transfer money

    Deposit notifications allow us to efficiently identify your incoming funds for proper credit to your account and to ensure that funds retain their originating currency of denomination.1

    • Explicit instructions on where and how to send the funds will be provided after you complete the deposit notification. The instructions will vary according to your location and type of funds.
    • Checks2 or wires sent to Place Trade without completed deposit notifications will be held until we can contact you to complete one.
    • A deposit notification does not move your funds. You must contact your bank or broker to complete the transfer.
    • Cancellation of the deposit notification will not stop Place Trade from presenting the check for payment.

    To notify us of a deposit of funds, please complete a deposit notification on the Fund Transfers page in Account Management or during your initial application process.




    1In the case of wire deposits, please note that routing instructions vary by currency type and the particular instructions which you will need to supply to your bank are made available upon creation of a deposit notification through Account Management. Deposits improperly routed by clients to a bank account not designated to accommodate deposits in the source currency are subject to rejection or automatic conversion into the local currency based on the policies of that bank. As Place Trade is unable to assume the risk of such errors, clients are advised to provide their bank with correct routing instructions for the specific currency through the use of deposit notifications.

    2In the case of deposits made by check, 

    1. All Checks must be made out and addressed according to the instructions provided on your Deposit Notification Confirmation/Deposit Slip.  In the case of mutual funds held direct you will be provided with separate instructions.    
    2. Place Trade will not accept any checks which require endorsement to Place Trade or our clearing firm and our clearing firm will only accept check deposits having Place Trade as the direct payee where the party who writes the check either:
      1. Has the same last name as the individual account holder (e.g.; spouse or, child); or
      2. In the case of organization/institution accounts, maintains an affiliation with the account (e.g.; officer, trader or owners).



    Take me back to Funding Reference ~ How to Fund your Online Trading Account ~ Deposits


  • Funding your Online Trading Account


    View Funding Reference ~ FAQs


    Simple Steps to Fund your Account:


    Simply login to “Account Management

    Click on “Fund Transfers”

    Select an option (Check, ACH, or Wire Transfer)



    Funding Reference

    View our complete Funding Reference Page


    Learn all of the methods for funding your online trading account including types of acceptable checks, ACH and wire transfers, direct rollovers, trustee to trustee transfers,funding via online bill payment as well as much more information.



    More Basic Details about Funding your Account



    Funding your account is made simple with Place Trade and our clearing firm (IB). To deposit funds in your PT account, you must first complete a deposit notification. This will allow the clearing firm to properly identify incoming funds and will ensure your funds retain their originating currency of denomination.


    • To complete a deposit notification, visit the Funds Transfer page in Account Management/Funds Management.
    • You must contact your bank or Place Trade Financial to complete funds transfers after the completion of a deposit notification.
    • Detailed instructions on where or how to send funds will be provided after a deposit notification is completed and received. Instructions may vary.
    • Checks or wire transfers absent of the proper deposit instructions will be held by the clearing firm until you are contacted.



    Internal Funds Transfers


    To make an internal fund transfer, you must complete an Internal Funds Transfer request. You can do this in the Account Management/Funds Managementpage. Funds that are on hold cannot be internally transferred.



    Account processing will occur within one (1) business day after receipt. Once your account has been approved, cleared funds are required to begin trading. All checks including certified and cashier's checks require a minimum of 5 business days before becoming available for investing. For options trading, a minimum of 7 business days is required.

    With the exception of the minimum investment to open an account, Place Trade Financial does not require a minimum balance to be maintained and does not charge maintenance fees for inactive accounts. (Please note that commissions and fees can change without notice.)


    For more information on funding your account, please click here.



  • Show me the money! How to check the status of funding transactions


    How to check the status of funding transactions:



    Have you received my money yet? Where is my money?

    PT provides account holders with a tool that provides real-time updates and current status of all deposit and withdrawal transactions relating to both cash and positions which have taken place over the prior 45 calendar day period.


    How to find the Transaction History Menu:

    This tool is made available through the secure Account Management application and may be accessed via the Fundingtab on the main menu. To access the Transaction History menu options:

    Upon entering the Transaction History screen you will be able to view information related to the following categories:

    • Cash Deposits: includes transaction detail (deposit type, amount and delivering institution) along with key processing dates (when notified, arrived, credited to equity and made available for withdrawal) and current status (e.g. pending, approved, canceled, completed, expired).
    • Cash Withdrawals: includes transaction detail (withdrawal type, amount and receiving institution) along with key processing dates (when requested and sent) and current status.
    • Position Transfers In: includes transaction detail (transfer type and delivering institution) along with key processing dates (when notified, arrived, credited to equity and made available for withdrawal) and current status.
    • Position Transfers Out: includes transaction detail (withdrawal type and receiving institution) along with key processing dates (when notified and sent) and current status.
    • Bank Instructions: in the event the transaction requires creation of an instruction for the purpose of providing PT with the necessary account specific information and authorization to act (i.e., if the deposit method dictates that PT pull funds directly from the client’s account or if the withdrawal method dictates that PT push funds directly to the client’s account) information regarding that instruction will be presented here. That information includes transaction detail (date created, function, method and institution) along with current status.


    PLEASE NOTE: Account holders may cancel transactions which are in a pending state by clicking on the red X located in the Action column which is provided within each of the above five screens. In addition, the amount of a wire transfer deposit notifications may be modified by first clicking on the Modify link also located in the Cash Deposits Action column. In order to complete the modification request, the account holder will need to enter the revised amount and/or currency and add the Customer Reference or Payment ID number as provided by the sending institution.



         Helpful Links


    Learn all of the methods for funding your online trading account including types of acceptable checks, ACH and wire transfers, direct rollovers, trustee to trustee transfers,funding via online bill payment as well as much more information via this link and through highlights below:


    Account Management         

    Funding your Online Trading Account     

    Funding Reference ~ Transaction History      

    Funding Reference ~ FAQs     


    Funding Reference ~ How to Make a Deposit - Slip / Notification 

    Funding Reference ~ How to Fund your Online Trading Account ~ Fund Transfers     

    Funding Reference ~ How to Withdraw Money from your Online Trading Account    

    Funding Reference ~ Settlement Instructions     

    Funding Reference ~ Internal Fund Transfers     

    Funding Reference ~ Internal Position Transfers     Deposit Credit Holds     Funding Transaction States     

    Account Transfers: Funding your account by transferring all or part of your assets that are held at another firm?

    How to transfer my account to Place Trade - Step by Step Detailed Directions     

    Why was my account transfer rejected?     

    Funding Reference ~ Position Transfers     

    How does the ACATs PROCESS FLOW Work?      

    How to deposit funds via a Full ACATS/ATON Transfer     

    How to Deposit Funds Via a Partial ACATS/ATON Transfer   



    Need more help?

    Check out these related articles or give us a call at 919-719-7200 today!

    How to set up ACH transfers ACATS Transfer Guide (US brokerage account transfers)




  • What currencies may I use to fund my account? Which currency may I deposit?




    Which currencies may I use to fund my account?




    You may fund your account in any of the following currencies, regardless of which base currency you select:


    • Australian Dollar (AUD)

    • British Pound (GBP)

    • Canadian Dollar (CAD)

    • Chinese Offshore Renminbi (CNH)

    • Czech Koruna (CZK)

    • Danish Krone (DKK)

    • Euro (EUR)

    • Hong Kong Dollar (HKD)

    • HungarianFlorint (HUF)

    • Japanese Yen (JPY)

    • Mexican Peso (MXN)

    • Norwegian Krone (NOK)

    • New Zealand Dollar (NZD)

    • Polish Zloty (PLN)

    • Russian Ruble (RUB)

    • Singapore Dollar (SGD)

    • South African Rand (ZAR)

    • Swedish Krona (SEK)

    • Swiss Franc (CHF)

    • United States Dollar (USD)




    International Trading - View Market Centers / Exchanges Available for Online Trading at Place Trade - Global Offerings




    All asset types and products from around the world are held and reported in a single account


    Trade assets denominated in multiple currencies from a single account

    Access to market data 24 hours a day and seven days a week keeps you connected to all global markets




    Related Articles

    Account Configuration: Base Currency

    How to change your Base Currency

    Which Base Currencies are Available & What Does my Base Currency Determine?

    What currencies may I use to fund my account?

    Funding your Online Trading Account