Account Trading Type
A “cash account” is a type of account in which the client must pay the full amount for securities purchased using their own funds.
A “margin account” is a type of account in which DriveWealth lends the client funds, using the account as collateral, to purchase securities.
A "crypto account" is a type of account in which DriveDigital allows a client to trade digital assets.
When creating a margin account DriveWealth performs a preliminary check on the information provided in the Investing Profile Document Object during user creation to determine appropriate leverage options.
Requirements for 2:1
annualIncomemust be greater than $25k, AND
networthTotalmust be greater than $25k, AND
networthLiquidmust be greater than $5k, AND
investmentExperiencemust be more than
If a user is created not meeting all of the above requirements the margin account will automatically be opened as 1:1 leverage.