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Application

Overview#

The TradeStation AOP API accepts the majority of the information required to create an application via the Create Application and Edit Application endpoints. A user experience that utilizes the TradeStation AOP API can collect the information in any order as long as the application payload fits the required schema specifications. See Application Specifications for details.

Application Flow#

Application Flow Diagram

  1. Client application collects the user's TradeStation account application data.
  2. Client application submits user's application data to the Create Application endpoint.
  3. The API will return any payload or application errors.
  4. For errors that do not return an ApplicationId in the error response, submit the corrected application payload once again to the Create Application endpoint.
  5. For errors that return an ApplicationId in the error response, submit the corrected application to the Edit Application endpoint with the ApplicationId in the url query parameter.
  6. Once a valid application payload is submitted, the AOP API will respond with status code 200 and response body that contains the ApplicationId as well as the required Agreements and required Document Upload information.
  7. If edits need to be made to the application after successful submission, the client application can submit the edited application to the Edit Application endpoint with the ApplicationId in the url query parameter. Edits cannot be made once the Agreements have been submitted.
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The application submission requires an access token. The access token can be obtained via user login or user registration. See AOP Authentication for more details.#

Important Application Information#

Below is important information about several aspects of the application submission. The information below should be taken into consideration when designing the user experience around the creation of TradeStation account applications via the AOP API. See Application Specifications for details.

Primary Contact Validation#

The TradeStation AOP API validates applications against user information that was used during registration. The primary contact of an application must contain the same FirstName, LastName, and Email of the TradeStation user that was created during the registration process. The profile and email scopes are required during the AOP Authentication process in order to obtain the user's registration information.

Consumers of the AOP API can verify or pre-populate this required information by making a GET request to the Auth0 User Info Endpoint with the user's access token. Below are the url and custom TradeStation response parameters that are relevant for obtaining this information:

https://signin.tradestation.com/userinfo
User Info Response ParameterMatching AOP API Primary Contact Parameter
emailEmail
http://tradestation.com/first_nameFirstName
http://tradestation.com/last_nameLastName

Application Types#

The AOP API currently supports the following application types:

  • Individual - A personal brokerage account for individual traders with only one account owner.
  • Joint with Right of Survivorship - This joint account has two account owners. If one account owner passes away, the remaining account owner succeeds to the rights of the entire account.
  • Joint Tenants in Common - This joint account has two account owners with each person owning a specified percentage of the account. If one account owner passes away, that person's portion of the account is transferred to his or her beneficiaries.
  • Traditional IRA - You can contribute to a Traditional IRA if you are under 70 ½ and you (or your spouse, if filing jointly) have taxable compensation. Contributions are deductible for qualified individuals and are limited based on IRS rules. Traditional IRA assets may grow tax deferred until they are withdrawn. Distributions from a Traditional IRA are taxable and may be subject to penalties. Minimum annual distributions are required following the year in which you turn 70 1/2.
  • Roth IRA - You can contribute to a Roth IRA, at any age, if you (or your spouse, if filing jointly) have taxable compensation and your modified adjusted gross income is below certain amounts prescribed by the IRS. Contributions to a Roth IRA are not deductible and are limited based on IRS rules. Qualified distributions and withdrawals, as defined by IRS rules, are not taxable. The original Roth IRA owner is not required to take minimum annual distributions.
  • SEP IRA - A Simplified Employee Pension (SEP) IRA allows employers to contribute to Traditional IRAs (SEP-IRAs) set up for employees. A business of any size, even self-employed, can establish a SEP. (See Traditional IRA above)
  • SIMPLE IRA - A Savings Incentive Match Plan for Employees (SIMPLE IRA) allows employees and employers to contribute to Traditional IRAs set up for employees. It is ideally suited as a start-up retirement savings plan for small employers not currently sponsoring a retirement plan. (See, Traditional IRA above).
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Please note that IRA accounts are only available for US taxpayers, and the AOP API does not currently support futures IRA account applications. The information provided above is very basic and should not be considered tax and/or legal advice. Applicants should be informed that TradeStation strongly recommends they should learn more about these retirement account options at the IRS website and to consult with an independent tax or legal advisor.#

Options Trading#

Applicants who apply for equity accounts and wish to trade equity options should be made aware of the risks of options trading. Since options trading may not be suitable for all investors, TradeStation strongly recommends to make available to applicants a copy of the Characteristics and Risks of Standardized Options before they buy or sell an option.

When submitting an application for an equity options account, the payload should include the InvestmentGoal (risk tolerance) and the OptionsTradingLevel selected by the applicant. See Application for the exact specifications of the Application payload.

Please review the table provided below to understand how these categorical variables map to applicant risk assessment queries in the application process.

The first column details an inclusive range of allowed transactions for each risk level. For example, an OptionsTradingLevel of 5 supports trading on straddles and every other options strategy below it. An OptionsTradingLevel of 1 supports only trading on protective puts and selling covered calls.

Options Trading Levels#
Options Strategies SupportedLevel 1Level 2Level 3Level 4Level 5
Sell Covered Calls✔️✔️✔️✔️✔️
Protective Puts✔️✔️✔️✔️✔️
Buy Calls and Puts✔️✔️✔️✔️
Covered Puts✔️✔️✔️✔️
Call and Put Spreads✔️✔️✔️
Sell Uncovered Puts (Stock Options)✔️✔️
Sell Uncovered Puts (Index Options)✔️
Sell Uncovered Calls✔️
Straddles✔️
Investment Goal#

The InvestmentGoal support for OptionsTradingLevel varies based on the associated risk:

  • Speculation (high risk) supports all OptionsTradingLevel values.
  • Growth (medium risk) supports OptionsTradingLevel from 1 to 3.
  • Income (low risk) only supports OptionsTradingLevel of 1.
Special Equity Account Restrictions#
  • Equity IRA accounts with Margin are not allowed to apply for OptionsTradingLevel of 5.
  • Equity Cash accounts are not allowed to apply for OptionsTradingLevel of 4 or 5.
Options Trading LevelsCashIndividual/Joint MarginIRA Margin
1✔️✔️✔️
2✔️✔️✔️
3✔️✔️✔️
4❌✔️✔️
5❌✔️❌
Example Options Trading UI Element

Example TS Asset Class UI Element

Joint Account Applications#

For joint account application types, the application payload should be submitted with a joint object for each of the following entity arrays:

  • Contacts
  • Addresses
  • Identities
  • Employments
  • FinancialProfiles
  • TradingProfiles

See Application Specifications for details.

Errors and Editing Applications#

When submitting an application via the Create Application endpoint, if there are errors in the application submission, you may receive an ApplicationId in the error response.

If an ApplicationId is not included in the error response, this means that there was an error in the validation of the application payload prior to the application being initiated in the TradeStation application processing system. In this circumstance, the applicant should correct the error using the error message in the response, and then the client application should submit the application payload once again to the Create Application endpoint.

If an ApplicationId is included in the error response, this means that there was an error processing the application after the application was initiated in the TradeStation application processing system. In this circumstance, the applicant should correct the application error using the error message in the response, and then the client application should re-submit the application payload to the Edit Application endpoint with the ApplicationId as the url query parameter.

The Edit Application endpoint can also be used to edit the application after a successful submission of the application payload, but before the final submission of Agreements. The Edit Application endpoint requires the full application payload to be submitted and is subject to the same validation as the Create Application endpoint.

Reference Data Validation#

The AOP API has several reference data endpoints that should be used by the client application to populate certain application payload values.

The application payload values and their corresponding reference data endpoints are as follows:

Application EntityEntity ParameterReference Data EndpointReference Data Parameter
ContactsCountryOfResidenceGet CountriesCountryCode
ContactsRegionOfResidenceGet CountriesRegionCode
ContactsHearAboutUsGet HearAboutUsKey
ContactsHearAboutUsSalesRepGet SalesRepsKey
AddressesCountryGet CountriesCountryCode
AddressesRegionGet CountriesRegionCode
TrustedContactCountryGet CountriesCountryCode
TrustedContactRegionGet CountriesRegionCode
EmploymentsEmployer:CountryGet CountriesCountryCode
EmploymentsEmployer:RegionGet CountriesRegionCode
EmploymentsEmployer:IndustryCodeGet IndustriesIndustryCode
EmploymentsEmployer:JobCodeGet IndustriesJobCode

Brokerage Account Type Validation#

Crypto Accounts#

If the applicant wishes to open a TradeStation Crypto, Inc. account, they must also have an equities account with TradeStation Securities, Inc. A crypto account can only hold cryptocurrencies, so in order to purchase cryptocurrency using cash, or to sell cryptocurrency for cash, the applicant must also apply for an equities account where the cash assets will be held. To learn more click here.

Please note that TradeStation Crypto, Inc. is currently only supporting one crypto account per user login.

IRA Accounts#

The TradeStation AOP API allows submission of Equity IRA account applications, such as Equity Traditional IRA, Equity Roth IRA, Equity SEP IRA, and Equity Simple IRA. Futures and Futures Options IRA accounts are currently not supported by the AOP API.

With every IRA application the applicant is required to provide the Primary Beneficiaries, and if necessary, the Contingent Beneficiaries for that account. Some additional documentation may be required to approve SEP or Simple IRA accounts, see Document Requirements for details.

Restricted Countries and Regions#

Please note that due to existing financial regulations and prohibitions in the United States, such as those imposed by the US Office of Financial Asset Control (“OFAC”), TradeStation Group, Inc. and its subsidiaries are prohibited to do business with individuals or entities residing in certain countries (e.g., Belarus, Myanmar). To comply with these regulations, the AOP API will reject any applications where the applicant has provided a residential address in one of the restricted countries.

In addition to this, there are certain countries, states, or regions where TradeStation does not have a license to do business, or where the existing regulations in those countries, states, or regions have fully or partially limited the trading activity on certain asset types. Therefore, an applicant cannot reside in one of these countries, states or regions and maintain an account with TradeStation (e.g., Saudi Arabia residents are not allowed to open a crypto account, Hawaii residents are not allowed to open a crypto account). Please refer to the Get Countries endpoint to learn which countries and regions are fully restricted from opening an account or have a limitation on accounts of a certain asset type. This validation applies to the Contacts entities' CountryOfResidence and RegionOfResidence parameters.

See Also#