How to Qualify for an Account

Freetrade by Ameritrade is a brokerage firm aimed at a particular niche market. Therefore, we can only service a special type of client, a client that will qualify and agree to our type of operation.

We only offer Individual, Joint and Trust accounts. IRA and corporate accounts are not offered. U.S. regulations require that account information be verified. Freetrade verifies your account information against commercial databases in an automated process. U.S. citizens, resident aliens and permanent resident information may be verified. At this time, non-US resident information cannot be verified against these commercial database in an automated process. Consequently, Freetrade is not offered to non-US residents. We only offer margin accounts.* Of course, you do not have to use margin if you stay within your cash funds.

In order for you to become a client of Freetrade, you must be self-sufficient in operating your own account and use of the Internet. Two years experience as a client of a discount broker is required to open a Freetrade account. Not all clients of a discount broker decide that they like the service; they want the full service of a full commission broker. We need to know that you qualify as a satisfied discount broker client.

We also require that you have at least two years of experience as an Internet user. As the Internet is the only way that we service clients, you will probably not be happy with Freetrade unless you are experienced and competent with this method of communication.

To open an account, you must apply online - see links below. You need to agree to the terms of the account, fill out our online application and send it electronically. Account applications for trusts must be returned via fax.

You may open the account at any time. However, in order to activate the account you will need to deposit $5,000 into the account through either a bank wire or brokerage transfer. Electronic Funds Management (ACH) is available after the initial deposit.