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 RatesPT'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.
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 BalancesClient 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 BalancesWe 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 ExamplesBM = Benchmark Rate
Interest Charged on Margin Loans View ExamplesWhen 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
Note: May be subject to a 1% surcharge applied to the spread if financing is not pre-arranged.
Disclosures
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Institutions - Hedge Fund and Mutual Fund ManagersHedge and Mutual Fund Application Steps Checklist
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Windows: 64 bit | File Size: 4MB|Version 9554
Step One: Click the Download button to begin installing TWS.
Step Two: When the installation is complete, click the TWS icon on your desktop to log in.
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.
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.
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
Click the “Next” button on the Setup Wizard to extract files.
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.
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
Click the “Next” button on the Setup Wizard to extract files.
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.
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.
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:
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How much will I receive in Social Security Benefits? (Based on my age/year of birth)Should I take my social security benefits early or wait to qualify for the maximum benefits? Can I take my spouse or ex-spouse's benefits early or should I wait?What is Full (or Normal) Retirement Age?According to the Social Security Administration "Full retirement age is the age at which a person may first become entitled to full or unreduced retirement benefits." Regardless of what your full retirement age (also called "normal retirement age") is, you are allowed to start receiving benefits as early as age 62 or as late as age 70.
What Happens to Your Benefits if You Retire Early?If you are healthy and can afford to wait then there is no need to rush! If you choose to retire you may begin drawing social security benefits at any time between age 62 and your full retirement age (which is based on the year that you were born). If you are seriously considering tapping into your benefits early, it is important to note that you will not be entitled to the full amount that you may be expecting. In fact, your benefits will be reduced by a fraction of a percent for every month that you receive them prior to your full retirement age. Although that may not sound like much it can easily add up to a 20 - 35% reduction in monthly benefits and can make a significant difference in your long term financial well-being! |
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Year of Birth1 |
When do I reach Full (Normal) Retirement Age? |
Months between age 62 & Full Retirement2 |
If You Start Your Benefits at Age 62 3
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A $1000 FULL Retirement benefit would be reduced to | Your retirement benefit is reduced by4 | A $500 spouse's benefit would be reduced to | Spouse's benefit is reduced by5 | ||||||||||||||||
65
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36
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$800
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20.00%
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$375
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25.00%
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||||||||||||||
65 and 2 months
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38
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$791
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20.83%
|
$370
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25.83%
|
||||||||||||||
65 and 4 months
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40
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$783
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21.67%
|
$366
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26.67%
|
||||||||||||||
65 and 6 months
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42
|
$775
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22.50%
|
$362
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27.50%
|
||||||||||||||
65 and 8 months
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44
|
$766
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23.33%
|
$358
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28.33%
|
||||||||||||||
65 and 10 months
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46
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$758
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24.17%
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$354
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29.17%
|
||||||||||||||
66
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48
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$750
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25.00%
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$350
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30.00%
|
||||||||||||||
66 and 2 months
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50
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$741
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25.83%
|
$345
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30.83%
|
||||||||||||||
66 and 4 months
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52
|
$733
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26.67%
|
$341
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31.67%
|
||||||||||||||
66 and 6 months
|
54
|
$725
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27.50%
|
$337
|
32.50%
|
||||||||||||||
66 and 8 months
|
56
|
$716
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28.33%
|
$333
|
33.33%
|
||||||||||||||
66 and 10 months
|
58
|
$708
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29.17%
|
$329
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34.17%
|
||||||||||||||
67
|
60
|
$700
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30.00%
|
$325
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35.00%
|
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Source: Social Security Administration
Get an idea of some of the investment offerings at Place Trade by checking out the links below:
Learn more about retirement planning by visiting some of the links below:
Individual Retirement Plans & Rollovers
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We offer all the Products and Services you need to build your portfolio and take charge of your investments.
Our retirement specialists will
make it easy for you to rollover your 401(k) retirement account.
Call 1-800-50-PLACE today!
Social Security Administration Information:
Retirement Benefits
How Work Affects Benefits
Retirement Planner
Benefit Calculator
What Every Woman Should
Know
DOL Info & more
Small Business & Enterprise
Choosing a Retirement Solution
Auto Enrollment 401(k) Plan: Safe Harbor