Showing disclosures
Effective January 6, 2025, DriveWealth sunset the Limited Purpose Margin Account (LPMA) type. Accounts formerly known as being LPMA are Margin Accounts with 1:1 leverage, and the provisions within the LPMA Agreement have been repositioned into the Customer Account Agreement and Margin Risk Disclosures available at legal.drivewealth.com. Please contact your DriveWealth Relationship Manager with any questions.
To open a brokerage account with DriveWealth, customers are required to review and consent to a set of predefined disclaimers and disclosures. The specific documents presented vary based on factors such as the account type, the customerβs geographic location, and other criteria outlined below.
Partners have the option to either embed the applicable disclosure URLs directly within their user interface or host them on their own web pages, depending on their preferred integration approach.

Standard language presented
Fundamentally, a customer must be prompted on the platform that they have read and agreed to the agreements provided to them prior to continuing through the onboarding process. Agreement can be identified by having the customer digitally sign their full legal name, or through a checkbox. Through either path, typical language includes the following pattern:
β "By checking the box below you acknowledge that you have read and agree to all disclaimers and disclosures presented
Prior to exposing any disclosure language, review all material with legal counsel to ensure it complies with local regulations.
List of Required Disclosures
Customer Account Agreement
This agreement outlines the terms and conditions governing your brokerage account with DriveWealth, including account management, transaction processing, and regulatory compliance.
Cash | Margin(1:1) | Margin | Custodial | Retirement |
---|---|---|---|---|
β | β | β | β | β |
Display Requirement(s):
URL: Drivewealth Customer Account Agreement
Trading Disclosure
This disclosure outlines the key terms, risks, and limitations associated with investing in fractional shares through DriveWealth.
Cash | Margin(1:1) | Margin | Custodial | Retirement |
---|---|---|---|---|
β | β | β | β | β |
Display Requirement(s):
URL: Trading Disclosure
Terms of Use
This document outlines the terms and conditions governing the use of DriveWealth's digital properties, including user responsibilities, permitted uses, and limitations of liability.
Cash | Margin(1:1) | Margin | Custodial | Retirement |
---|---|---|---|---|
β | β | β | β | β |
Display Requirement(s):
URL: Terms of Use
Rule 14b1(c)
A customerβs name, address and relevant investment holdings are required to be disclosed by DriveWealth to Issuers whose investment you own. A customer can opt out of providing this information to Issuers.
Cash | Margin(1:1) | Margin | Custodial | Retirement |
---|---|---|---|---|
β | β | β | β | β |
Display Requirement(s):
Verbiage: βRule 14b1(c)β: Rule 14b-1(c) of the Securities Exchange Act, unless you object, requires us to disclose to an issuer, upon its request, the names, addresses, and securities positions of our customers who are beneficial owners of the issuer's securities held by us in nominee name. The issuer would be permitted to use your name and other related information for corporation communication only.β
Privacy Policy
Describes how DriveWealth needs to collect, use, disclose, transfer, store, retain or otherwise process customer personal data in order to service the brokerage account.
Cash | Margin(1:1) | Margin | Custodial | Retirement |
---|---|---|---|---|
β | β | β | β | β |
Display Requirement(s):
URL: Privacy Policy
All DriveWealth Disclosures and Agreements
A list of all DriveWealth disclosures including DriveWealth's BCP, funding policies, etc.
Cash | Margin(1:1) | Margin | Custodial | Retirement |
---|---|---|---|---|
β | β | β | β | β |
Display Requirement(s):
URL: All DriveWealth Disclosures and Agreements
Tax Disclosure
This disclosure outlines the tax reporting responsibilities and certification requirements for customers maintaining brokerage accounts with DriveWealth.
Cash | Margin(1:1) | Margin | Custodial | Retirement |
---|---|---|---|---|
β | β | β | β | β |
Display Requirement(s):
URL:
For US Customers: W-9 Agreement
For Non-US Customers: W-8BEN Agreement
List of Add-on Disclosures(as applicable)
β - Required β - Not Applicable/Not supported β- Conditional requirement
Margin Risk Disclosure
This statement outlines the risks associated with trading securities on margin through DriveWealth, including potential losses, margin calls, and the firm's rights to liquidate assets without prior notice.
Cash | Margin(1:1) | Margin | Custodial | Retirement |
---|---|---|---|---|
β | β | β | β | β |
Display Requirement(s):
URL: Margin Risk Disclosure Statement
Cash Management Program (Bank Sweep)
Automatically invests or sweeps free credit balances in your DriveWealth brokerage accounts into a FDIC Bank Account.
β only required if entering into bank sweep program.
Cash | Margin(1:1) | Margin | Custodial | Retirement |
---|---|---|---|---|
β | β | β | β | β |
Display Requirement(s):
URL: Cash Management Program Disclosure Statement - Bank Sweep
Cash Management Program(Money Market Sweep)
Automatically invests or sweeps free credit balances in your DriveWealth brokerage accounts into a Money Market Fund.
β only required if entering into money market fund
Cash | Margin(1:1) | Margin | Custodial | Retirement |
---|---|---|---|---|
β | β | β | β | β |
Display Requirement(s):
URL: Cash Management Program Disclosure Statement - Money Market
Market Data Agreements
Cash | Margin(1:1) | Margin | Custodial | Retirement |
---|---|---|---|---|
β | β | β | β | β |
Display Requirement(s):
Verbiage: βI acknowledge that I have read the market data agreements below from the represented exchanges. I hereby certify that I qualify as a non-professional pursuant to the definitions described herein.β
URL: NASDAQ Subscriber Agreement
NYSE/AMEX Subscriber Agreement
IRA Account Agreement
This document outlines the terms, conditions, and IRS requirements for establishing and maintaining an Individual Retirement Account (IRA) with DriveWealth, including contribution limits, investment restrictions, and distribution rules.
Cash | Margin(1:1) | Margin | Custodial | Retirement |
---|---|---|---|---|
β | β | β | β | β |
Display Requirement(s):
URL: IRA Custodial Account Agreement and Disclosures
Dividend Reinvestment Product Agreement
This disclosure outlines the terms, eligibility criteria, and operational details of DriveWealth's Dividend Reinvestment Program (DRIP), allowing enrolled customers to automatically reinvest dividends into eligible securities.
βrequired only if enabling DRIP
Cash | Margin(1:1) | Margin | Custodial | Retirement |
---|---|---|---|---|
β | β | β | β | β |
Display Requirement(s):
URL: Dividend Reinvestment Product Agreement
Fully Paid Securities Lending(FPSL) Agreement
These documents outline the terms and conditions of DriveWealthβs Fully Paid Securities Lending (FPSL) program, including customer participation and agreement requirements.
βrequired only if enabling FPSL
Cash | Margin(1:1) | Margin | Custodial | Retirement |
---|---|---|---|---|
β | β | β | β | β |
Display Requirement(s):
URLs: FPSL - Master Securities Lending Agreement
Fully Paid Securities Lending(FPSL) Disclosures
Extended Hours Agreement
This disclosure outlines the terms, trading hours, and associated risks of participating in DriveWealthβs Extended Hours Trading sessions, including Pre-Market and Post-Market periods.
βrequired only if enabling Extended Hours Trading
Cash | Margin(1:1) | Margin | Custodial | Retirement |
---|---|---|---|---|
β | β | β | β | β |
Display Requirement(s):
URLs: Extended Hours Disclosure
Options Customer Account Agreement
This agreement outlines the terms, conditions, and risks associated with trading options through DriveWealth, including customer responsibilities and the firm's rights regarding option transactions.
βrequired only if enabling Options
Cash | Margin(1:1) | Margin | Custodial | Retirement |
---|---|---|---|---|
β | β | β | β | β |
Display Requirement(s):
URL: Options Customer Account Agreement
Wallet Trading Disclosure
This disclosure outlines the terms, responsibilities, and limitations associated with using a digital wallet in conjunction with a customer's DriveWealth brokerage account, including the roles of your Introducing Firm and Wallet provider.
Cash | Margin(1:1) | Margin | Custodial | Retirement |
---|---|---|---|---|
β | β | β | β | β |
Display Requirement(s):
URL: Wallet Trading Disclosure
Passing acceptance through the API
Once a customer has acknowledged that they have read and accepted all the applicable agreements, the DISCLOSURES
and MARGIN_DISCLOSURE
objects used to create the customer should have all required fields set to true
.
β Exception: The findersFee
field must always be set to false.
Additionally, the API request requires a digital signature. This should be the customer's full legal name, passed as a string within the signedBy
parameter, as demonstrated in the example below:
{
"type": "DISCLOSURES",
"data": {
"termsOfUse": true,
"customerAgreement": true,
"marketDataAgreement": true,
"rule14b": true,
"findersFee": false,
"privacyPolicy": true,
"dataSharing": true,
"extendedHoursAgreement": true, //optional
"iraAgreement": true, //optional
"optionsAgreement":true, //optional
"signedBy": "Calvin Broadus Jr."
}
},
{
"type": "MARGIN_DISCLOSURE",
"data": {
"marginAgreement": true //optional
}
}
Updated 16 days ago