You can open a regular brokerage account with TradeUP, which can be either a Cash or Margin account. Each applicant is limited to one account only.
A Cash account is the most basic regular brokerage account. It follows the T+2 settlement rule: once securities are sold, it takes two business days for the sale proceeds to settle. You are able to open new positions with unsettled funds; however, this can trigger a Good-Faith Violation (GFV).
A Margin account allows you to utilize margin and leverage your portfolio holdings to increase your buying power. Margin is borrowing money from a lender (in this case, TradeUP) to purchase securities. As with any loan, there is an interest charge for the borrowed funds. You can learn more about the benefits and risk of a margin account here.
You can learn more differences between a Cash and Margin account here.
NOTE: We do not charge any account maintenance fees, nor do we charge any monthly or annual fees. Brokerage services in TradeUP are offered by TradeUP Securities Inc. TradeUP Securities Inc. is a registered brokerage firm at SEC (CRD: 18483; SEC: 8-36754), a member of FINRA/SIPC and a member of DTC/NSCC, regulated by the US Securities and Exchange Commission and Financial Industry Regulatory Authority.
Still got questions? Contact TradeUP Customer Support by email at support@tradeup.com or reach out to us on Live Chat!