Place Trade offers accounts to meet all of your investment needs. Clients may choose to invest in stocks, bonds, mutual funds, ETFs, CDs, options and more.
Business Retirement Plans
Employers may take advantage of our SEP IRA, SIMPLE IRA, Qualified Plans including 401(k)s, Profit Sharing Plans, Money Purchase Plans, and group 529 College Savings Plans.
Individual Accounts, Individual Retirement Accounts and much more!
Individual Account
A brokerage account with only one owner. Only this individual is authorized to access the account. The person named on the account is responsible for all account activity and tax liability.
Joint Account
A Joint Account is an account for general investment purposes and is limited to five owners only. The primary tenant's social security number will be used for the account and is also responsible for all tax liabilities. All checks and written correspondence must be in both tenants' names. Each owner will be eligible to trade in the account and to receive income, proceeds, or securities from the account.
Trust Account
A trust account is an account managed by a trustee, an other designated individual(s) or entity on behalf of the beneficial owner(s). This account must be opened in the name of the trust by the trustee(s). A copy of the trust agreement must be provided for our records. Examples include educational, living, revocable and irrevocable trusts.
Individual Retirement Accounts - IRA, Roth IRA and Individual 401(k)s
Place Trade Financial offers a variety of retirement accounts. Almost anyone with earned income can take advantage of our tax-favored IRA. We offer Traditional IRAs as well as Roth IRAs, which offer greater tax savings and withdrawal flexibility.
When opening an IRA, you have the flexibility to invest in stock, bonds, mutual funds and more. Place Trade Financial IRAs do not have maintenance or setup fees.
You may rollover an IRA, Roth IRA or 401(k) without paying taxes and penalties. Call us today at 1-800-50-PLACE or 919-719-7200 to learn more about your IRA or 401(k) Rollover today!
Investment Club Account
An investment club is a legal entity and is comprised of a group of retail investors who pool their funds and make joint investments. Club members usually include friends, coworkers, church members, neighbors and family members. Club accounts are registered in the name of the investment club. Place Trade Financial requires that one person be listed as the contact for the club and all club members actively participate in investment decisions. The benefits are diversification, shared knowledge and reduced transaction costs.
A club is set up very much like a mutual fund. Club members contribute money every so often, and may eventually withdraw money once the club portfolio gets large enough. Each year the individual partners must pay taxes on their share of the capital gains, dividends and income from the club. Tax ID numbers are required for all investment club accounts.
Corporate Account
A corporation is one of the most common forms of business organizations. This account must be opened in the name of the corporation. A Corporate Resolution with a raised corporate seal or a Limited Liability Company Investment Authorization form must be included, along with a cash/margin account agreement in addition to regular forms.
Partnership Account
A partnership is a type of unincorporated business organization in which multiple individuals, called general partner(s), manage the business and are equally liable for its debts; other individuals called limited partners may invest but not be directly involved in management and are liable only to the extent of their investments. Place Trade Financial requires that one person be listed as the contact for the partnership.
Custodial Accounts - UTMA UGMA
This account is created for managing the assets of a minor (an individual under the age of 21), with an adult as the custodian. A custodial account contains trading and cash management features, for eligible customers. This type of account must be a cash account and the custodian, not the minor, must sign all required documents. Funds transferred into a custodial account are irrevocable gifts to the minor and all funds shall only be used by the custodian for the benefit of the minor. Learn more about Custodial Accounts including UGMAs and UTMAs.
College Savings Accounts
Education IRAs, UGMA/UTMAs, 529 Savings Plans, Prepaid Tuition Plans
Place Trade Financial also offers all of the different types of beneficial college savings plans including; the Coverdell Education Savings Account, Custodial Accounts including UTMAs and UGMAs and 529 Plansto help save for a child's elementary or higher education.