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Interest Schedule

 

Place Trade calculates an internal funding rate based on a combination of internationally recognized reference rates on overnight deposits (ex: Fed funds, LIBOR), bank deposit rates, and real-time market rates from the world's largest and most liquid market, the interbank short-term currency swap market.

While central banks and major money-center banks set and publish reference rates for interest dependent investments, these rates often do not reflect the exact investment costs/opportunities seen in interbank and commercial transactions. PT's interest model starts with the reference rates and incorporates the dynamic market pricing to produce a midpoint or "benchmark".

PT adds a spread around the benchmark to determine deposit and borrowing rates applicable to client balances in each currency. Spreads are tiered such that larger balances receive more favorable interest treatment due to smaller spreads around the benchmark.

Please click on the links below to open and close each section:

 

 

 

Reference Benchmark Rates

PT's benchmark for each currency is the reference rate around which our credit, debit, stock loan and other interest rate linked calculations are determined. PT uses a combination of internationally recognized reference rates (such as LIBOR, Fed Funds, etc), bank deposit rates, and dynamic interbank rates determined from foreign exchange and money markets to calculate an PT Reference Benchmark rate.

For more information about PT Reference Benchmark click here.

For information regarding the various external reference rates that contribute to the PT Reference Benchmark rate click here.

 
Currency Description for Effective Date 20200110 Rate Effective Date
USD
Reference Benchmark USD
1.550%
20200110
USD
Reference Benchmark USD Libor
1.527%
20200110
AUD
Reference Benchmark AUD
1.254%
20200110
BRL
Reference Benchmark BRL
4.400%
20200110
CAD
Reference Benchmark CAD
1.682%
20200110
CHF
Reference Benchmark CHF
(0.878)%
20200110
CNH
Reference Benchmark CNH
2.084%
20200110
CZK
Reference Benchmark CZK
1.606%
20200110
DKK
Reference Benchmark DKK
(0.810)%
20200110
EUR
Reference Benchmark EUR
(0.595)%
20200110
GBP
Reference Benchmark GBP
0.632%
20200110
HKD
Reference Benchmark HKD
1.967%
20200110
HUF
Reference Benchmark HUF
(0.167)%
20200110
ILS
Reference Benchmark ILS
0.257%
20200110
INR
Reference Benchmark INR
9.500%
20200110
JPY
Reference Benchmark JPY
(0.360)%
20200110
KRW
Reference Benchmark KRW
1.250%
20200110
MXN
Reference Benchmark MXN
6.319%
20200110
NOK
Reference Benchmark NOK
1.254%
20200110
NZD
Reference Benchmark NZD
1.081%
20200110
PLN
Reference Benchmark PLN
1.154%
20200110
RUB
Reference Benchmark RUB
6.010%
20200110
SEK
Reference Benchmark SEK
(0.143)%
20200110
SGD
Reference Benchmark SGD
1.501%
20200110
TRY
Reference Benchmark TRY
10.104%
20200110
ZAR
Reference Benchmark ZAR
6.600%
20200110
Please call us at 919-719-7200 for help moving your account to Place Trade today!

PT accrues interest on a daily basis and posts actual interest monthly on the third business day of the following month. For detailed examples on how we calculate interest, open the Interest Paid to You and Interest Rates Charged to You on Margin Loan Balances sections on this page.

 

 

Interest Paid on Idle Cash Balances

Client accounts are eligible to receive credit interest on long settled cash balances in their securities accounts.

Accounts with a Net Asset Value (NAV) of USD 100,000 (or equivalent) or more are paid interest at the full rate for which they are eligible. Accounts with NAV of less than USD 100,000 (or equivalent) receive interest at rates proportional to the size of the account. For example, an account with a NAV of USD 50,000 earns credit interest at a rate equal to one-half the rate paid by PT to accounts with a NAV of USD 100,000 or more.

Interest accrues and is payable on a daily basis. PT posts the interest payments on a monthly basis on the third business day of the following month.

PT uses a blended rate based on the tiers outlined in the table below. The tiers on which interest rates are based are subject to change without prior notification.

For balances held in CHF, DKK, EUR, JPY or SEK, PT currently applies an effective negative rate to long balances held. The negative rate applied to accounts holding these currencies is the same regardless of account size. For other currencies in which the benchmark rate plus the interest rate paid is less than zero, the interest paid is 0%.

 

Higher Interest Rates for Large Cash Balances

We pay interest to clients for credit balances, based upon rates available in the interbank deposit market. For those clients that hold large cash balances in multiple currencies, we offer the ability to take advantage of the Forex Swaps market to potentially earn higher rates. This program is not designed for and would not benefit any client who holds a single-currency long balance. The mechanics behind this program involve the buying of a currency for settlement one day out and the selling of the same currency two days out, the difference in value between the two settlement dates being the interest earned. We automatically keep rolling the swaps until you no longer meet the minimum balance criteria, or you instruct us to halt the program. You must have at least USD $10 million in cash, and US residents must be Eligible Contract Participants (ECP) to enroll in the program.

 

 

Interest Paid to You on Positive (Credit) Cash Balances  View Examples

 
BM = Benchmark Rate
Currency Tier Rate Paid
USD 0 - 10,000 0%
  10,000.01 + 1.05% (BM - 0.5%)
AUD 0 - 14,000 0%
  14,000.01 - 140,000 0.754% (BM - 0.5%)
  140,000.01 + 1.004% (BM - 0.25%)
CAD 0 - 14,000 0%
  14,000.01 + 1.182% (BM - 0.5%)
CHF 0 - 100,000 0%
  100,000.01 + -1.128% (BM - 0.25%)
CNH All 0%
CZK 0 - 2,500,000 0%
  2,500,000.01 + 1.356% (BM - 0.25%)
DKK 0 - 700,000 0%
  700,000.01 + -1.06% (BM - 0.25%)
EUR 0 - 100,000 0%
  100,000.01 + -0.845% (BM - 0.25%)
GBP 0 - 8,000 0%
  8,000.01 + 0.132% (BM - 0.5%)
HKD 0 - 78,000 0%
  78,000.01 + 1.217% (BM - 0.75%)
HUF 0 - 2,800,000 0%
  2,800,000.01 + 0% (BM - 3%)
ILS All 0%
INR All 0%
JPY 0 - 11,000,000 0%
  11,000,000.01 + -0.61% (BM - 0.25%)
KRW 0 - 12,000,000 0%
  12,000,000.01 + 0% (BM - 1.5%)
MXN 0 - 190,000 0%
  190,000.01 + 2.319% (BM - 4%)
NOK 0 - 85,000 0%
  85,000.01 + 0% (BM - 2.5%)
NZD 0 - 15,000 0%
  15,000.01 + 0% (BM - 2.5%)
PLN 0 - 400,000 0%
  400,000.01 + 0% (BM - 2%)
RUB 0 - 700,000 0%
  700,000.01 + 1.01% (BM - 5%)
SEK 0 - 850,000 0%
  850,000.01 + -0.393% (BM - 0.25%)
SGD 0 - 15,000 0%
  15,000.01 + 0.501% (BM - 1%)
TRY 0 - 60,000 0%
  60,000.01 + 5%
ZAR 0 - 150,000 0%
  150,000.01 + 5.6% (BM - 1%)

 

 

Interest Charged on Margin Loans  View Examples

When calculating rates, keep in mind that PT uses a blended rate based on the tiers below. For example, for a balance over 1,000,000 USD, the first 100,000 is charged at the Tier I rate, the next 900,000 at the Tier II rate, etc. When determining the quoted spread, PT will use the set benchmark rate or a benchmark rate of 0 for all benchmark rates less than 0.

PT accrues interest on a daily basis and posts actual interest monthly on the third business day of the following month.

The tiers on which interest is based may change from time to time without prior notification to clients. Such adjustments are done periodically to adjust for changes in currency rates.

 
 

BM = Benchmark Rate

Currency Tier Rate Charged: 
USD 0 - 100,000 3.55% (BM + 1.5%)
  100,000.01 - 1,000,000 3.05% (BM + 1%)
  1,000,000.01 - 3,000,000 2.55% (BM + 0.5%)
  3,000,000.01 - 200,000,000 2.05% (BM + 0.3%)
  200,000,000.01 + 1.85% (BM + 0.3%) See note below
AUD 0 - 140,000 2.754% (BM + 1.5%)
  140,000.01 - 1,400,000 2.254% (BM + 1%)
  1,400,000.01 - 140,000,000 1.754% (BM + 0.5%)
  140,000,000.01 + 1.754% (BM + 0.5%) See note below
CAD 0 - 140,000 3.182% (BM + 1.5%)
  140,000.01 - 1,400,000 2.682% (BM + 1%)
  1,400,000.01 - 140,000,000 2.182% (BM + 0.5%)
  140,000,000.01 + 2.182% (BM + 0.5%) See note below
CHF 0 - 100,000 1.5% (BM + 1.5%)
  100,000.01 - 1,000,000 1% (BM + 1%)
  1,000,000.01 - 200,000,000 0.5% (BM + 0.5%)
  200,000,000.01 + 0.5% (BM + 0.5%) See note below
CNH 0 - 625,000 7.084% (BM + 5%)
  625,000.01 - 6,250,000 7.084% (BM + 5%)
  6,250,000.01 - 125,000,000 7.084% (BM + 5%)
  125,000,000.01 + 7.084% (BM + 5%) See note below
CZK 0 - 400,000,000 4.606% (BM + 3%)
  400,000,000.01 + 4.606% (BM + 3%) See note below
DKK 0 - 120,000,000 3% (BM + 3%)
  120,000,000.01 + 3% (BM + 3%) See note below
EUR 0 - 100,000 1.5% (BM + 1.5%)
  100,000.01 - 1,000,000 1% (BM + 1%)
  1,000,000.01 - 150,000,000 0.5% (BM + 0.5%)
  150,000,000.01 + 0.5% (BM + 0.5%) See note below
GBP 0 - 80,000 2.132% (BM + 1.5%)
  80,000.01 - 800,000 1.632% (BM + 1%)
  800,000.01 - 160,000,000 1.132% (BM + 0.5%)
  160,000,000.01 + 1.132% (BM + 0.5%) See note below
HKD 0 - 780,000 4.467% (BM + 2.5%)
  780,000.01 - 7,800,000 3.967% (BM + 2%)
  7,800,000.01 - 780,000,000 3.467% (BM + 1.5%)
  780,000,000.01 + 3.467% (BM + 1.5%) See note below
HUF 0 - 4,500,000,000 5% (BM + 5%)
  4,500,000,000.01 + 5% (BM + 5%) See note below
ILS 0 - 80,000,000 5.257% (BM + 5%)
  80,000,000.01 + 5.257% (BM + 5%) See note below
INR All 12.5% (BM + 3%)
JPY 0 - 11,000,000 1.5% (BM + 1.5%)
  11,000,000.01 - 110,000,000 1% (BM + 1%)
  110,000,000.01 - 20,000,000,000 0.5% (BM + 0.5%)
  20,000,000,000.01 + 0.5% (BM + 0.5%) See note below
KRW 0 - 120,000,000 3.25% (BM + 2%)
  120,000,000.01 - 1,200,000,000 2.75% (BM + 1.5%)
  1,200,000,000.01 - 24,000,000,000 2.25% (BM + 1%)
  24,000,000,000.01 + 2.25% (BM + 1%) See note below
MXN 0 - 1,900,000 9.319% (BM + 3%)
  1,900,000.01 - 19,000,000 8.319% (BM + 2%)
  19,000,000.01 - 1,900,000,000 7.819% (BM + 1.5%)
  1,900,000,000.01 + 7.819% (BM + 1.5%) See note below
NOK 0 - 850,000 2.754% (BM + 1.5%)
  850,000.01 - 8,500,000 2.254% (BM + 1%)
  8,500,000.01 - 850,000,000 1.754% (BM + 0.5%)
  850,000,000.01 + 1.754% (BM + 0.5%) See note below
NZD 0 - 150,000 2.581% (BM + 1.5%)
  150,000.01 - 1,500,000 2.081% (BM + 1%)
  1,500,000.01 - 150,000,000 1.831% (BM + 0.75%)
  150,000,000.01 + 1.831% (BM + 0.75%) See note below
PLN 0 - 70,000,000 4.154% (BM + 3%)
  70,000,000.01 + 5.154% (BM + 4%) See note below
RUB 0 - 660,000,000 11.01% (BM + 5%)
  660,000,000.01 + 11.01% (BM + 5%) See note below
SEK 0 - 850,000 1.5% (BM + 1.5%)
  850,000.01 - 8,500,000 1% (BM + 1%)
  8,500,000.01 - 850,000,000 0.5% (BM + 0.5%)
  850,000,000.01 + 0.5% (BM + 0.5%) See note below
SGD 0 - 150,000 3.001% (BM + 1.5%)
  150,000.01 - 1,500,000 2.501% (BM + 1%)
  1,500,000.01 - 150,000,000 2.001% (BM + 0.5%)
  150,000,000.01 + 2.001% (BM + 0.5%) See note below
TRY 0 - 60,000,000 15.104% (BM + 5%)
  60,000,000.01 + 15.104% (BM + 5%) See note below
ZAR 0 - 1,500,000 8.1% (BM + 1.5%)
  1,500,000.01 - 15,000,000 7.6% (BM + 1%)
  15,000,000.01 - 1,500,000,000 7.35% (BM + 0.75%)
  1,500,000,000.01 + 7.35% (BM + 0.75%) See note below

Note: May be subject to a 1% surcharge applied to the spread if financing is not pre-arranged.

 

Disclosures
  1. Credit balances greater than USD 10,000 (or equivalent) in accounts with a NAV of less than USD 100,000 (or equivalent) will be paid interest at a proportional rate. For accounts holding credit balances in currencies carrying a negative interest rate, the negative rate will be applied to accounts with balances of at least USD 100,000 (or equivalent), but smaller credit balances will not be charged the negative rate.

 

 

Pick the Pricing Plan that's Best for You

 

 

Which Plan is Best for You?

Features

Place Trader Lite

Place Trader Pro

Commissions:

US Exchange-Listed Stocks / ETFs

Commission-free Fixed or Tiered Pricing

Other Stocks / ETFs

Fixed Pricing Fixed or Tiered Pricing

Options

Fixed Pricing1 Fixed or Tiered Pricing

Futures

Fixed Pricing Fixed or Tiered Pricing

Forex

Tiered Pricing Tiered Pricing

Fixed Income

Tiered Pricing Tiered Pricing

Mutual Funds

Fixed Pricing Fixed or Tiered Pricing
Account Fees:

Minimum Balance

USD 0 USD 0

Maintenance Fee

USD 0 Up to USD 10 per month (less commission paid that month)

Interest Paid on Idle Cash Balances2

Benchmark minus 1.5% Benchmark minus 0.5%

Interest Charged for Margin Loan

Benchmark plus 2.5% Begins at Benchmark plus 1.5%, with lower rates for higher loan values.3
Account Features:

Stock Yield Enhancement Program

Market Data

Free snapshot market data for US listed stocks and ETFs Premium Subscriptions Available

Outside Regular Trading Hours4

07:00 - 20:00 04:00 - 20:00
Trading Technology:

Client Portal

Place Trader Mobile

IBot

Trader Workstation (TWS)

Place Trade Web Trader

Place Trade APIs

Order Types & Algos

No Algos, Limited Order Types

Conditional Orders

Paper Trading

Limited

Mutual Fund / ETF Replicator

Risk NavigatorSM

Back Testing

 
= Included
  1. Where available in North America.
  2. Accounts with a NAV of less than USD 100,000 (or equivalent) will be paid at a rate proportional to accounts with a NAV of USD 100,000 (or equivalent) or more. The proportion is determined by the ratio of the account's NAV to USD 100,000 (or equivalent). The negative rate applied to accounts holding these currencies is the same regardless of account size.
  3. For more information, see
  4. Regular trading hours for Place Trader Lite and Place Trader Pro are 09:30 - 16:00

We understand your investment needs change over time. You can switch between the Place Trader Lite and Place Trader Pro plan at any time. Your first three reclassifications are processed on a weekly basis while subsequent reclassifications happen on a quarterly basis.

 
= Included
  1. Where available in North America.
  2. Accounts with a NAV of less than USD 100,000 (or equivalent) will be paid at a rate proportional to accounts with a NAV of USD 100,000 (or equivalent) or more. The proportion is determined by the ratio of the account's NAV to USD 100,000 (or equivalent). The negative rate applied to accounts holding these currencies is the same regardless of account size.
  3. For more information, see
  4. Regular trading hours for Place Trader Lite and Place Trader Pro are 09:30 - 16:00

We understand your investment needs change over time. You can switch between the Place Trader Lite and Place Trader Pro plan at any time. Your first three reclassifications are processed on a weekly basis while subsequent reclassifications happen on a quarterly basis.

Our server for the informational site is currently down for maintance. We expect it to be back up shortly. All of our trading systems as well as Account Management are working normally!

 

You are welcome to Log into any of the trading platforms, Account Management or call us at 919-719-7200 or 919-931-2004 with any questions or concerns.

 

If you were in the middle of a new account application you may finish it via this link or use this link to open a new account.

 

Please click here to: 

Log into your account (Account Management)

Finish a new account application:

 

 

Well, that is embarrassing! We apologize for the error that brought you to this page.
Please try again by searching for the subject that you are looking for or simply give us a call at 919-719-7200 or 800-50-PLACE (800-507-5223) and we will help you find what you are looking for right away! 

 

Institutions - Hedge Fund and Mutual Fund Managers

 

 

 

Hedge and Mutual Fund Application Steps Checklist

 


 

Please follow this checklist for a fast and easy experience opening a hedge fund or mutual fund account at Place Trade!

.

1. Complete the Investment Manager Electronic Application

Fully electronic (Use this for fastest processing):
You will be asked to establish a username and password at the beginning of the process so that all the information you enter will remain secure. While most customers will complete their application in a fully electronic fashion, we are sometimes required to receive paper documents which should be forwarded to the addresses listed under Contact Us/Document Submission Information on the PT website.

 

2. Fund Your Account

You are not required to fund your account prior to approval, however, if you'd like to do so, you will be presented with several options at the end of the registration process.

Send a check* (with your deposit instruction form, application or account number written on the check) or wire (call or visit your bank to initiate) as specified in your deposit instructions to PT. Electronic Funds Transfer (ACH), Broker-to-Broker Transfer (ACAT), and PT Internal Transfers will automatically transfer. If we do not receive your funds in 45 days from approval the account will be closed.

 

3. Application Review

We will review your application for approval once your entire application has been completed. Your application is complete once there are no outstanding application tasks within Finish Application, located in the Login drop-down list in the upper right corner of the PT homepage. Sometimes after you have completed the application we require additional steps. You will be notified by email and within Login/Complete Application if this is the case.

 

4. Application Review Results

You will be notified by email and within Login/Complete Application of the results of our application review. Fully completed applications will be processed within 48 business day hours under normal business conditions.

 

5. Submit an Application for Each Fund

Print out a paper application under Login/Account Management. You have two options:

  • You can complete the required information and send the form to the fund. They should designate someone as an authorized person to sign on behalf of the fund, and then send the application to PT Account Processing.
  • You can send the application to the fund. Their authorized person should complete and sign on behalf of the fund, and then send the application to PT Account Processing.

 

You may log into Account Management at any time to see the status of the fund's applications.

 

Place Trade Financial, Inc. TWS Installation Instructions

This instruction walks you through the standard installation procedure for installing TWS, and shows you the pop-up windows that you will encounter and need to take action on in each step throughout the process. The instructions are specific to the browser and operating system you are using.



When you click the “Download” button you will see the below:




In the bottom left corner of your browser find and click the tws…exe download button.




If you see the Security Warning box, click the “Run” button to confirm that you want to install TWS.




Click the “Next” button on the Setup Wizard to install TWS.




Uncheck the “Run Trader Workstation” checkbox and click the “Finish” button. A TWS icon is installed on your desktop.




Find the TWS icon on your desktop and double-click to launch the Login box.




Enter your username and password then click the “Login” button to log into TWS.

Place Trade Financial, Inc. TWS Installation Instructions

This instruction walks you through the standard installation procedure for installing TWS, and shows you the pop-up windows that you will encounter and need to take action on in each step throughout the process. The instructions are specific to the browser and operating system you are using.



When you click the “Download” button you will see the below:




In the bottom left corner of your browser find and click the tws…exe download button.




Click your Downloads folder to see the list of available files, and double-click the tws.dmg file to open it.
If the Downloads folder is not in your dock, you may locate it under Macintosh HD > Users > yourusername > Downloads






Double-click the Trader Workstation icon to initiate installation.




Click “Open” to confirm and start the installation.
A proprietary Java Runtime Environment is included with this package and may take a minute to install – please wait!
The Setup Wizard will display when the installation is complete.



Click the "Next" button on the Setup Wizard to install TWS.




Uncheck the "Run Trader Workstation" box and click the "Finish" button. A TWS icon is installed on your desktop.




Find the TWS icon on your desktop and cilck to launch the Login box. You can also launch the TWS software from the Trader Workstation folder located under Macintosh HD > Users > yourusername > Applications > Trader Workstation.




Enter your username and password then click the "Login" button to log into TWS.

Place Trade Financial, Inc. TWS Installation Instructions

This instruction walks you through the standard installation procedure for installing TWS, and provides the command line entries you will need. You can copy and paste the text to make it easier for you to install.



Click the Download button and save the TWS installation file to a desired location. The remaining instructions assume that you have saved the file to the default Downloads folder. If you have saved it to a different location, replace “Downloads” in the instructions with the appropriate directory/folder.



Open Terminal (Ctrl+Alt+T on most distributions) and navigate to the directory where the installer was downloaded:

Copy: cd ~/Downloads



Make the installer executable by using: chmod u+x before the filename:

Copy: chmod u+x tws-latest-linux-x64.sh



Run the installer to start the wizard by typing “./” before the file name:

Copy: ./tws-latest-linux-x64.sh



TWS Install for Linux Screen

Click the “Next” button on the Setup Wizard to extract files.



TWS Install for Linux Screen


TWS Install for Linux Screen

Uncheck the “Run Trader Workstation” checkbox and click the “Finish” button. A TWS icon is installed on your desktop.



TWS Install for Linux Screen

Find the TWS icon on your desktop and double-click to launch the Login box.



TWS Install for Linux Screen

Enter your username and password then click the “Login” button to log into TWS.

Place Trade Financial, Inc. TWS Installation Instructions

This instruction walks you through the standard installation procedure for installing TWS, and provides the command line entries you will need. You can copy and paste the text to make it easier for you to install.



Click the Download button and save the TWS installation file to a desired location. The remaining instructions assume that you have saved the file to the default Downloads folder. If you have saved it to a different location, replace “Downloads” in the instructions with the appropriate directory/folder.



Open Terminal (Ctrl+Alt+T on most distributions) and navigate to the directory where the installer was downloaded:

Copy: cd ~/Downloads



Make the installer executable by using: chmod u+x before the filename:

Copy: chmod u+x tws-latest-linux-x86.sh



Run the installer to start the wizard by typing “./” before the file name:

Copy: ./tws-latest-linux-x86.sh



TWS Install for Linux Screen

Click the “Next” button on the Setup Wizard to extract files.



TWS Install for Linux Screen


TWS Install for Linux Screen

Uncheck the “Run Trader Workstation” checkbox and click the “Finish” button. A TWS icon is installed on your desktop.



TWS Install for Linux Screen

Find the TWS icon on your desktop and double-click to launch the Login box.



TWS Install for Linux Screen

Enter your username and password then click the “Login” button to log into TWS.

Place Trade Financial, Inc. TWS Installation Instructions

This instruction walks you through the standard installation procedure for installing TWS, and shows you the pop-up windows that you will encounter and need to take action on in each step throughout the process. The instructions are specific to the browser and operating system you are using.



When you click the “Download” button you will see the below:




In the bottom left corner of your browser find and click the tws…exe download button.




If you see the Security Warning box, click the “Run” button to confirm that you want to install TWS.




Click the “Next” button on the Setup Wizard to install TWS.




Uncheck the “Run Trader Workstation” checkbox and click the “Finish” button. A TWS icon is installed on your desktop.




Find the TWS icon on your desktop and double-click to launch the Login box.




Enter your username and password then click the “Login” button to log into TWS.

Subcategories

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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

 

 

 

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