Allston Trading Account Type

Allston Trading offers various types of accounts tailored to meet the needs of different traders. The primary account types include:

• Cash Account: This account requires the trader to pay the full amount for securities purchased. No borrowing is allowed, making it a straightforward and low-risk option.

• Margin Account: This account allows traders to borrow funds from Allston Trading to purchase securities, using the purchased securities as collateral. While it provides greater purchasing power and the potential for higher returns, it also carries higher risks due to the possibility of incurring debt.

• Institutional Accounts: Designed for larger entities, these accounts provide advanced trading tools and services, catering to institutional investors with specific needs.

Allston Trading Broker Account Opening Process

To open a broker account with Allston Trading, follow these steps:

• Select Account Type: Determine which type of account suits your trading style and investment goals—either a cash account or a margin account.

• Gather Required Information: Prepare the necessary personal and financial information, including:

• Full name
• Social Security Number or Tax Identification Number
• Address and contact information
• Date of birth
• Government-issued ID (e.g., driver's license or passport)
• Employment status and annual income

• Complete Application: Fill out the account application form provided by Allston Trading. This can typically be done online or through a representative.

• Initial Deposit: Fund your account with the required minimum deposit, which may vary depending on the account type. Ensure that you meet the minimum balance requirements.

• Account Verification: Allston Trading will verify your application and documentation. This process may involve an in-person check or phone verification.

• Start Trading: Once your account is approved and funded, you can begin trading in the markets through Allston Trading's platform.