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| TradePortal Account Categories |
TradePortal offers several different categories of accounts to fit your specific trading needs.
Please read the Minimum Requirements Information below, and choose an account that is suitable. |
CASH ACCCOUNTS: EQUITIES AND OPTIONS
TradePortal Cash Accounts are available to investors who wish to take control of their executions, but do not desire to utilize margin trading, or who do not meet the margin account requirements. This account is designed to provide cash investors with the powerful tools of professional 'direct access' technology - and do so on a cash basis.
This account is not suitable for day trading. This form of account has the following lower initial deposit and financial suitability requirements:
1. Minimum initial trading capital of US $2,000.
2. Income of US$25,000/year and total net worth of at least US$50,000.
In addition to the above requirements, we strongly suggest that a client have significant previous investment experience. We also strongly suggest that a client have previous experience using a 'direct access' execution system or have completed a training program in the use of SuperSOES, SelectNet, ECN's Order Handling Rules and Level II trading.
STANDARD MARGIN ACCOUNTS: EQUITIES AND OPTIONS
For those traders who wish to utilize margin, as well as powerful 'direct access' technology, but do not day trade on a regular basis, TradePortal offers a Standard Margin Account. Please note that if an account holder shows a pattern of day trading in this account, the account will be re-coded a 'Pattern Day Trading Account' and will then be subject to those additional restrictions that apply to Pattern Day Trading Accounts. Please see 'Pattern Day Trading Accounts' below for information (Very Important; Because, for example, if you day trade four times in a five-day period, by regulation, you will be considered a 'Pattern Day Trader', and therefore be subject to those rules governing 'Pattern Day Trading Accounts').
1. Minimum initial trading capital of US$5,000.
2. Income of US$40,000/year and total net worth of at least US$100,000.
In addition to the above requirements, we strongly suggest that a client have significant previous investment experience. We also strongly suggest that a client have previous experience using a 'direct access' execution system or have completed a training program in the use of SuperSOES, SelectNet, ECN's Order Handling Rules and Level II trading.
PATTERN DAY TRADING ACCOUNTS: EQUITIES AND OPTIONS
For those very active traders who desire the best technology and order handling capability, we offer Pattern Day Trading Accounts. These accounts may offer Four-to-One buying power intra-day, in compliance with securities industry regulations, which define the criteria and restrictions for Pattern day traders.
1. Minimum initial trading capital of US$30,000.
2. Income of US$40,000/year and total net worth of at least US$100,000.
In addition to the above requirements, we strongly suggest that a client have significant previous investment experience, as well as a thorough understanding of Margin, as it applies to a 'Pattern Day Trading Account'. We also strongly suggest that a client have previous experience using a 'direct access' execution system or have completed a training program in the use of SuperSOES, SelectNet, ECN's Order Handling Rules and Level II trading. |
| While TradePortal's minimum initial deposit requirement for Pattern Day Trading Accounts is US$30,000, regulations require that a minimum daily equity balance of US$25,000 be maintained. If the account ends the day with an equity (marked to market) below US$25,000, a maintenance call will be issued. Such calls must be met through the deposit of additional funds or marketable securities within 3 days of issuance. Regulations require that a failure in meeting the call within the allotted time frame results in a restriction of the account to trading on a 'cash available basis only', until the minimum equity requirement of $25,000 is achieved. In addition to the minimum equity requirements stated above, the account is subject to any overriding minimum margin maintenance requirements as may be imposed from time to time by our clearing agent. |
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