Configuring Your Account

Trading Requirements


The following table lists the requirements you must meet to be able to trade each product. Be sure to read the notes at the bottom of the table, as they contain important additional information. Note the information below is not applicable for India accounts.

Important: To qualify as an a client, you must meet these requirements:

  • To trade any product, you must have a Good or Extensive Knowledge Level for that product. In the case of Complex & Leveraged Products, you must have a Good or Extensive Knowledge Level for options and futures, or take a test.
  • To trade options, futures or Cash Forex, you must have a minimum of two years trading experience with that product or take a test.
  • To trade Bonds, if you are Hong Kong applicant, you must have a minimum of five years trading experience with that product or take a test.
  • To trade Complex & Leveraged Products, you must have a minimum of two years trading experience with stocks and either options or futures, or take a test. Note that UGMA and UTMA accounts are not eligible to trade this product type.
  • Your Net Worth cannot be less than your Liquid Net Worth.
  • To qualify for a Portfolio Margin account, your Net Worth and Liquid Net Worth must each be greater than 100,000 USD.


Stocks, Warrants, Mutual Funds, Bonds (excluding HK applicants) 1
Account Type Investment Objectives Liquid Net Worth/Income Minimums Age
>50 or ORG 41-50 31-40 21-30
Cash Account Income or
Growth or
Trading Profits or
Speculation or
Hedging		 >20,000/Any
(Clients aged 18-21 are eligible to trade stocks
if they meet all other requirements)
Reg T Margin Account Growth or
Trading Profits or
Speculation or
Hedging		 >20,000/>40,000
Portfolio Margin Account Trading Profits or
Speculation		 >100,000/Any


Bonds (HK applicants) 8
Account Type Investment Objectives Liquid Net Worth/Income Minimums Age
>50 or ORG 41-50 31-40 21-30
Cash Account Income or
Growth or
Trading Profits or
Speculation		 >100,000/Any >75,000/>50,000 >50,000/>45,000 >20,000/>40,000
Reg T Margin Account Growth or
Trading Profits or
Speculation 		>100,000/Any >75,000/>50,000 >50,000/>45,000 >20,000/>40,000
Portfolio Margin Account Trading Profits or
Speculation		 >100,000/Any >100,000/Any >100,000/Any >100,000/Any


Options, Penny Stocks - (Stocks are automatically selected when you select Options)2, 3, 5
Account Type Investment Objectives Liquid Net Worth/Income Minimums Age
>50 or ORG 41-50 31-40 21-30
Cash Account Trading Profits or
Speculation		 >100,000/Any >75,000/>50,000 >50,000/>45,000 >20,000/>40,000
Reg T Margin Account Trading Profits or
Speculation		 >100,000/Any >75,000/>50,000 >50,000/>45,000 >20,000/>40,000
Portfolio Margin Account Trading Profits or
Speculation		 >100,000/Any >100,000/Any >100,000/Any >100,000/Any

Limited option trading is also available with ANY Investment Objective. Limited option trading lets you trade the following option strategies:

  • Long Call or Put
  • Covered Calls
  • Short Naked Put: Only if covered by cash
  • Call Spread: Only European-style cash-settled
  • Put Spread: Only European-style cash-settled
  • Long Butterfly: Only European-style cash settled
  • Iron Condor: Only European-style cash settled
  • Long Call and Put


Cash Forex 4, 5
Account Type Investment Objectives Liquid Net Worth/Income Minimums Age
>50 or ORG 41-50 31-40 21-30
Reg T Margin Account Trading Profits or
Speculation or
Hedging		 >100,000/Any >75,000/>50,000 >50,000/>45,000 >20,000/>40,000
Portfolio Margin Account Trading Profits or
Speculation		 >100,000/Any >100,000/Any >100,000/Any >100,000/Any


Futures, Futures Options 6, 7
Account Type Investment Objectives Liquid Net Worth/Income Minimums Age
>50 or ORG 41-50 31-40 21-30
Cash Account Growth or
Trading Profits or
Speculation 7 or
Hedging		 >100,000/Any >75,000/>50,000 >50,000/>45,000 >20,000/>40,000
Reg T Margin Account Growth or
Trading Profits or
Speculation 7 or
Hedging		 >100,000/Any >75,000/>50,000 >50,000/>45,000 >20,000/>40,000
Portfolio Margin Account Trading Profits or
Speculation 7		 >100,000/Any >100,000/Any >100,000/Any >100,000/Any


Single-Stock Futures 2
Account Type Investment Objectives Liquid Net Worth/Income Minimums Age
>50 or ORG 41-50 31-40 21-30
Reg T Margin Account Growth or
Trading Profits or
Hedging		 >100,000/Any >75,000/>50,000 >50,000/>45,000 >20,000/>40,000
Portfolio Margin Account Trading Profits or
Speculation		 >100,000/Any >100,000/Any >100,000/Any >100,000/Any


Complex or Leveraged Product (CLP)
Account Type Investment Objectives Liquid Net Worth/Income Minimums Age
>50 or ORG 41-50 31-40 21-30
Cash Account Trading Profits or
Speculation or
Hedging		 >100,000/Any >75,000/>50,000 >50,000/>45,000 >20,000/>40,000
Reg T Margin Trading Profits or
Speculation or
Hedging		 >100,000/Any >75,000/>50,000 >50,000/>45,000 >20,000/>40,000
Portfolio Margin Trading Profits or
Speculation or
Hedging		 >100,000/Any >100,000/Any >100,000/Any >100,000/Any


Notes:

  1. Only applicants with US accounts and US residence can trade Mutual Funds.
  2. If you select only Options or only Single-stock Futures, Stocks will automatically be selected as well.
  3. For Options, in addition to the Years Trading and Trades per Year requirements, your Total lifetime Options trades must equal at least 100. For options, this is defined as stock trades + options trades + futures trades = at least 100 total trades lifetime.
  4. For Cash Forex, in addition to the Years Trading and Trades per Year requirements, your Total lifetime Forex trades must equal at least 100. For Forex, this is defined as stock trades + options trades + futures trades + forex trades = at least 100 total lifetime trades.
  5. Applicants who have completed the teaching exam for Options or Forex are exempt from the two years experience requirement to trade Options or Cash Forex.
  6. If you select Futures Options only, Futures will automatically be selected as well.
  7. The Speculation investment objective requirement does not apply to Futures and Futures Options trading in a Trust account.
  8. HK Applicants who have completed the teaching exam for Bonds are exempt from the five years experience requirement to trade Bonds.