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Fund Your Account

Whether you are new to Place Trade or have been here for years we make funding your account easy!  Choose the way that  is easiest for you and feel free to call us at 1-800-50-PLACE or 1-800-507-5223 if you need assistance. 

You may fund your new account online when filling out the new account application or contact us for other options.  You may also roll over your existing account (that is currently held at another firm) to fund your new account at Place Trade.  It is super easy to do and we are happy to help you if you need us!

New Account Minimums:  

Qualified Accounts (Example; Traditional IRA, Roth IRA or other Retirement Accounts): $3,000 Minimum Equity      

All Other Accounts (Example; Individual, Joint, Corporate [NON-Retirement Accounts]:  $5,000  Minimum Equity 

Minimum Equity  may be satisfied with the rollover or deposit of assets held in an account that is transferred to Place Trade or by check or wire transfer of cash to your new account.  Clients are encouraged but not required to maintain these levels on existing accounts.  (This may change without notice.)

Important Notice Regarding Physical Stock Certificates:  Place Trade no longer accepts physical stock certificates (per our clearing firm).  All securities must be transferred electronically from your current firm or via the transfer agent issuing the certificate.   

Please Note:  The information below is for existing accounts prior to transfer to our new clearing firm.  This information will be removed after the transition is complete.  Please do not use this information to fund new accounts.

Place Trade Accounts may be funded by wire transfer, check, stock certificate or account transfer. Money orders and third party checks are not accepted. Funds must accompany your account application.

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.

Domestic Accounts

Place Trade Financial requires a minimum investment of $5,000 for non-retirement, Joint, Trust, Corporate and Partnership brokerage accounts. IRA accounts require a $3,000 minimum investment.

International Accounts

Place Trade Financial requires a low minimum to open an International account. Open an account with a minimum of $5,000 equity in any combination of US dollars and/or US exchange traded securities.

Wire Transfers

Incoming Wire Instructions
(USD):

JP Morgan Chase Bank
ABA 021000021
F/A Penson Financial Services
ACCT #066-6-00030
FFC: Customer Acct # & Customer Name

If you use these instructions with foreign currency, it will automatically be converted to USD.

Incoming Wire Instructions
(Other than USD):

Chase Manhattan Bank, NYC
Swift # CHASUS33
FAO Penson Financial Services
ACCT 066600030
FFC: Customer Acct # & Customer Name

By Check

Make all checks payable to:
Penson Financial Services, Inc.

Money orders, starter checks and third party checks are not accepted.

Checks for existing accounts:

Place Trade Financial
c/o Regal Securities
Attn: Cashiering
950 Milwaukee Ave
Suite 102
Glenview, IL 60025

Mail

Mail all account applications, forms, checks and correspondence to Place Trade Financial:

Place Trade Financial
Attn. New Accounts
4030 Wake Forest Rd.
Suite 300
Raleigh, NC 27609

 

 

 

Stock Certificates

To endorse stock certificates over to Place Trade Financial:

  1. On the back of the stock certificate, enter Penson Financial Services, Inc. as the attorney to transfer the stock.
  2. Each person registered on the stock certificate must sign the back exactly as printed on the front, including initials, suffix, etc.
  3. Date the certificate.
  4. Mail to:
    Place Trade Financial
    c/o Regal Securities
    Attn: Cashiering
    950 Milwaukee Ave
    Suite 102
    Glenview, IL 60025

If you have any questions regarding stock certificates, please call customer service at 1-800-50-PLACE.