Brice Financial Service

Brokerage Account Types


Cash – requires the account holder to have enough cash in the account to cover the cost of the transaction plus commissions. You cannot borrow to support trading in a cash account.  This account is recommended for Questionnaire scores below 56.

The following rules also apply:

  • You cannot short any stock.
  • Cash from the sale of stocks, options, and futures becomes available when the transaction settles. For example, US stocks are three days, German stock are two days, and US options are one day.
  • Intraday futures margin benefits (50% of regular margin requirements during the day on certain exchanges) are not allowed.
  • The account may trade in multiple currencies, but must have the settled cash balance to enter trades.
  • Existing cash account holders can upgrade to a multi-currency cash account through Account Management.
  • Cash accounts may be upgraded to Reg T Margin accounts.

Reg T Margin– a US regulatory-based margin account that allows borrowing to support equities trading, shorting of equities, full options trading, full futures/futures options trading, currency conversions, and securities/commodities trading in multiple currency denominations. This account is recommended for Questionnaire scores of 57-100.

The following rules also apply:

  • Purchase and sale proceeds are immediately recognized.
  • Margin requirements are computed in real time under fixed, predetermined rules, with immediate position liquidation if the minimum maintenance margin requirement is not met.
  • Reg T accounts can be upgraded to Portfolio Margin accounts provided they meet the minimum requirements, but Reg T Margin accounts cannot be downgraded to Cash accounts.
  • US securities regulations require market participants identified as pattern day traders to maintain a minimum of $25,000 USD in equity or equivalent.

Portfolio Margin – a margin account that allows borrowing to support equities trading, shorting of equities, full options trading, full futures/futures options trading, currency conversions, and securities/commodities trading in multiple currency denominations. This account is recommended for Questionnaire scores above 100.

The following rules also apply:

  • Margin requirements are determined using a risk-based calculation based recent fluctuations in the market.
  • Interactive Brokers requires a minimum of $110,000 USD in equity or equivalent for this account. If the account drops below $100,000 USD, the account will be restricted from doing any margin increasing trades.
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