Frequently Asked Questions

Account Types

What type of account can I open?

Lime Trading Corp. offers the following accounts:
● Individual
● Joint with Rights of Survivorship
● Joint with Tenants in Common
● Custodial
● Traditional IRA
● Roth IRA
● Rollover IRA
● SEP IRA
● Corporate
● Limited Liability Company (LLC)
● Partnership
● Sole Proprietorship
● Trust

What is an individual account?

An individual account is a standard non retirement investment account with only one owner. Upon death of the account holder, the account assets are transferred to the decedent’s estate. Please note, it takes a special individual account, known as a Transfer on Death, to designate beneficiaries.

What is a Transfer on Death?

Transfer on death (TOD) registration allows you to pass the securities you own directly to another person or entity (your "TOD beneficiary") upon your death without having to go through probate. Learn more on the SEC’s website.

What is a Joint Tenants with Rights of Survivorship (JTWROS) account?

A JTWROS account is shared by two or more individuals, each account holder owns a portion of ownership in the account. Upon the death of one account holder, the account ownership is passed on to the surviving account holder(s).

What is a Joint Tenants in Common (JTIC) Account?

A JTIC account is shared by two or more individuals, with each account holder owning an equal or different percentage of the assets. Upon the death of one account holder, the specified percentage of the total account ownership is passed through the decedent’s estate.

What is a custodial account?

A custodial account is managed by a legal guardian or parent for the benefit of a minor. The amount invested is kept in the account until the minor reaches the age of eligibility. A custodial account may be the Uniform Gift to Minors Act (UGMA) and Uniform to Transfer to Minors Act (UTMA). All states permit UGMA accounts. Vermont and South Carolina do not allow UTMA accounts (as of 2020).

What is a traditional IRA Account?

Traditional IRAs let individuals contribute pre-tax dollars to a retirement investment account, which can grow tax deferred until retirement withdrawals occur (at age 59 ½ or later). In most cases, contributions to traditional IRAs are tax deductible. When the individual withdraws money from the account during retirement, those withdrawals are taxed at their ordinary income tax rate. The IRS restricts the amount that one may add to a traditional IRA each year, depending on age.
The contribution limit for the 2026 tax year is $7,500 for savers under 50 years of age. For people aged 50 and above, higher annual contribution limits apply via a catch-up contribution provision, allowing for an additional $1,100 (or a total of $8,600).
Account holders can take distributions as early as age 59 ½. Starting after age 73, account holders must take required minimum distributions (RMDs) from their traditional IRAs.
Funds removed before full retirement eligibility incur a 10% penalty (of the amount withdrawn) and taxes, at standard income tax rates. There are exceptions to these penalties for certain situations. For more information, see the IRS website on IRAs.

What is a Roth IRA Account?

A Roth IRA is funded with after-tax dollars; the contributions are not tax deductible. Contributions can continue to be made at any age, as long as the account holder has earned income. The account holder can maintain the Roth IRA indefinitely; there are no required minimum distributions (RMDs) during their lifetime.
The contribution limit for 2026 is $7,500 a year unless you are age 50 or older, in which case, you can deposit up to $8,600. For more information, please visit the IRS website.

What is a rollover IRA account?

A rollover IRA is a transfer of funds from a retirement account into a traditional IRA or a Roth IRA. The purpose of a rollover is to maintain the tax-deferred status of those assets. IRA rollovers are subject to some strict rules including the transfer of funds to be made between accounts.

What is a SEP IRA account?

A simplified employee pension (SEP) is established by an employer or a self-employed person. The employer is allowed a tax deduction for contributions to each eligible employee’s plan on a discretionary basis. Eligibility requirements for contributors include:
● Has reached age 21
● Has worked for the employer in at least 3 of the last 5 years
● Received at least $750 in compensation for 2023 and for 2024 ($650 in compensation for 2021 and for 2022 from the employer during the year and $600 for 2019 and for 2020The SEP IRA allows employers to skip contributions during years when business is down. Contributions made by employers are limited annually to the smaller of $69,000 for 2024 or 25% of compensation.
For more information, see the IRS website on SEP accounts.

What is a corporate account?

A corporate account is opened in the name of an incorporated business; a corporate account is managed by its officers or authorized traders.

What is a Limited Liability Company (LLC) account?

An LLC is a business structure allowed under state statutes in the U.S. where the owners are not personally liable for the company’s debt or liabilities. Regulations vary from state to state. LLCs are hybrid entities that combine the characteristics of a corporation with those of a partnership or sole proprietorship. LLCs may elect not to pay federal taxes. Profits and losses are listed on the personal tax returns of the owner(s) or they may choose a different classification, such as a corporation.

What is a partnership account?

A partnership account is established by two or more persons in which each person has equal liability. The account holders may or may not have a written agreement on the rights and obligations each one has in the partnership account. A tax identification number is required to open a partnership account.

What is a sole proprietorship account?

A sole proprietorship is an unincorporated business that has just one owner who pays personal income tax on profits earned from the business. A sole proprietorship has no separate legal existence or identity beyond that of the sole proprietor. Sole proprietorship accounts may be called “Doing Business As” or “DBA” accounts and reference “Doing Business As” or “DBA” in the account title.

What is a trust account?

A trust account is a legal arrangement through which funds or assets are held by a third party (the trustee) for the benefit of another party (the beneficiary). The beneficiary may be an individual or a group. Ownership of the assets must be transferred to the trust. The trustee has a fiduciary duty to consider the best interests of the beneficiaries first in any decisions. The trustee is responsible for annual tax returns and may be required to file regular accountings at the request of beneficiaries, depending on state law. All distributions to the trust beneficiary and other related expenses must be paid from the trust account.

New Account Information: Lime Trader

How do I apply for an account?

To apply for an account, you can:● Click the “Open Account” button on the website header to access our online application for an individual account; or
● Go to Open Account to access the application for other account types.

Who can open an account?

U.S. citizens, U.S. residents and foreign citizens are welcome to apply to open an account with Lime Trading. You must be at least 18 years of age to open an account. Other restrictions may apply.

I live outside of the United States. Can I open an account with you?

Citizens who reside outside of the United States are welcome to apply. Due to changes to investment regulations in non-U.S. jurisdictions, citizens of certain countries may not be able to open accounts. Certain foreign accounts may also be limited to certain offerings (i.e. no margin). You can email support@lime.co for more information.

How long does it take to open an account?

Please allow 1-2 business days upon receipt of your application for your account to be opened. For an account to be opened, the application must be completed, and all documents must be uploaded and approved by both our team and our clearing house. We will send you an email notification regarding your account approval status. Keep in mind that we may contact you about resubmitting documents in order to open your account. We want to open your account as quickly as possible, so we ask that you please check your email, since it may be crucial to the process.

I do not have a Social Security (SSN) number, can I open an account with Lime?

Yes. You do not necessarily need a Social Security Number to open an account. You need a valid government issued ID number. This number can be a Social Security Number or an Individual Tax Identification Number (ITIN).

Do you check my credit history? Will applying for a brokerage account with Lime negatively affect my credit history?

We do not check credit history, nor do we do a hard pull on your credit history. So, there is no need to worry that applying to Lime will affect your credit!

Can I have multiple Lime accounts?

Yes, you can open multiple accounts at Lime. Please note, depending on the product and clearing firm, opening multiple accounts of the same account type may require prior review and approval. Please reach out to support@lime.co for more information.
If you have several Lime Trader accounts, you can easily select and view them within your account portal.

What are the documents required to open an account?

The documents required depend on the account type you choose and on your country of citizenship/residence. All documentation must be dated within the past 90 days and must be in English or officially translated to English (i.e., certified and signed by translator). Some examples may be:
● ID
● Passport
● Utility Bill
● Most recent bank statement showing transactions and balance in the account.
The account application will direct you on what documents to submit.

How do I submit documents?

Once you finish your application, submitting documents is the next step to opening an account with Lime! To submit documents, just log in to your application and submit documents under the ‘Upload Documents’ section or email support@lime.co.

Why is my account waiting for additional documents?

There are a few reasons why additional documents need to be sent in. Some of these reasons may be:
● Your documents may not have matched up.
● You may not have signed one of the documents that were submitted.
● Our clearing house may need extra clarification about your application.
● Your employment description is unclear.
● Your identification picture is unclear.
● Your mailing address is different from your residence.
● The addresses you submitted for residence and employment may be the same.
● If you are retired, self-employed or student and choose funding by income.
● Your documents may need to be translated into English.
Accounts cannot be opened until documents are uploaded and approved. Just log in to your application and submit documents under the ‘Upload Documents’ section or email them to support@lime.co.
Click here to get started and apply for an account.

What is the minimum funding amount?

The minimum funding amount depends on your country of citizenship/residence.
US Accounts
● Cash Account $1,000
● Margin Account $2,000
Foreign Accounts
● Cash Account $1,000
● Margin Account $2,000
Enhanced Due Diligence Foreign Accounts
● Cash Account $5,000
● Margin Account $5,000

How long do I have to fund my account?

We recommend you fund your account as soon as it’s opened. We want to get your account opened and functional as soon as possible for your ease—and that includes funding!

Who should I expect to get updates from?

Lime Trading Support, support@lime.co, will contact you via email for all updates on your application. We may reach out for a few different reasons:
● Request to upload additional documents.
● Clarify specific information.
● Account status update.
We ask that you check your email consistently while your application is in process so we can get your account open as quickly as possible.

I didn’t finish filling out my application. Do I need to start over or can I pick up where I left off?

No need to start over! If you have filled out the first page of the application, a login has been created using your email and the password you entered. Use that information to log in and continue your application. If you forgot your password, just select forgot password and enter your email. You will receive an email from us prompting you to reset your password.

I need help with the application process, what do I do?

We want to help in the most convenient way possible for you, so there are a few options!
● Email support@lime.co
● Call +1 (855) 274-4934 or (646) 558-3232
● Click the green chat icon on the application page to initiate a live chat or request a phone call from support.

General Questions

What platforms are available for trading?

Lime Trader (Integrated API, Web and Mobile apps), Bookmap, TakeProfit, Sterling, and CQG.

Why do I receive some mailings by mail if I have consented to electronic delivery?

Regulations require that certain information be sent in physical form. This includes, for example, shareholder information, notification of changes in interest rates, and tax-related reminders. These mailings are sent at no cost to clients.

How does Lime Trading protect my account security?

Your online account information is 100% encrypted by proprietary technology. Our systems use a 64-bit block cipher and support a variable key length of 32 bits to 448 bits. What this means is that a block of your personal data is taken and is scrambled with a key created from your password to make it unreadable. The data that is sent to you as our client is NEVER cached in an unencrypted format on the computer that you are using. All of the client-side decryption is handled in memory. In layman’s terms, your account information cannot be retrieved from the web browser’s cache files.

If I have canceled an order after market hours, when can I trade again?

Our connections to the market centers for orders placed or open during normal market hours close at 4:00 pm EST. When canceling an order outside the normal market session, you will be able to replace your canceled order at 9:20 am EST the next business morning.

Do you charge for paper statements and confirmations?

Yes. Our goal is to go paperless and allow customers to have an electronic copy available at any time. If you have opted in to receive confirmations and statements via physical mail, there will be a postage and handling fee of $5.00 per statement and $3.00 per confirmation mailed. If you have opted in for e-confirmations and e-statements, log into your account portal to view by navigating to “Reports” and selecting “Statements”.

Plan Requirements and Minimums

What is the minimum balance required to begin trading under the Per-Trade Plan?

The minimum funding amount depends on your country of citizenship/residence. You may check the funding requirements here, under Required Minimum Balances.

What is the monthly fee for the Per-Trade Plan?

There is no monthly fee for the Per-Trade Plan. See all pricing details here.

What is the minimum balance required to open an options account?

The minimum balance required to open an options account varies depending on your option level.
● Option level 1 & 2 maintain minimum account equity for a cash account (a minimum of $1,000 for US accounts and $2,000 for regular foreign accounts).
● Option level 3 has a minimum account equity of $5,000.
● Option level 4 has a minimum account equity of $25,000.
● Option level 5 has a minimum account equity of $100,000.

What is the minimum balance required to open a margin account?

There are margin account minimums for domestic accounts, regular foreign accounts and EDD/high-risk foreign countries.
The minimum balance required to open a margin account for domestic and regular foreign accounts is $2,000. The minimum balance required to open a margin account in Enhanced Due Diligence and High-Risk Countries is $5,000.

Does Lime Trading offer OTC stocks?

Lime Trading no longer offers trading on OTC Stocks. Clients holding OTC positions can only liquidate by (1) placing a limit order and using the last price from the OTC Markets website; or (2) contacting Lime Trading support at support@lime.co or +1 (855) 274-4934).

Options involve risk and are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses. Please review the Options Clearing Corporation Options Disclosure Document for the risks associated with trading options before trading. Hedging and protective strategies generally involve additional costs and do not assure a profit or guarantee against loss. With long options, investors may lose 100% of funds invested. Covered calls provide income, downside protection only to the extent of the premium received, and limit upside potential to the strike price plus premium received. Multi-leg option orders are not a standard option trade. There is no national best bid or offer for multi-leg orders. Multi-leg trades are executed on the exchanges at the discretion of specialists or market makers, who cannot be held to a net price on a multi-leg order. Therefore, you may not receive the national best bid or offer on each individual leg of an order. Multi-leg orders are executed as a single trade on the same exchange. Legs cannot be executed separately on different exchanges to get the national best bid or offer for each leg. Each individual leg of a multi-leg order can be subject to early exercise risk, possibly taking away the protection that the multi-leg position may provide. Partial or full assignment on a leg may originate a margin call or losses greater than you anticipated when you entered into the position. When a multi-leg order is canceled or filled, additional reporting may be required by the specialist or market maker. Reporting fills and cancels may cause delays and create risks, especially in fast moving markets. Additional risks might be associated with multi-leg options trading.

Account Funding: Lime Trader

How do I fund my Lime Trading account?

Domestic accounts may fund their Lime Trading account through a wire, ACH, or account transfer. Foreign accounts may only fund via wire and account transfer at this time. No 3rd party transfers are available. Funding must originate or be going out to an account with matching title.
Please find funding instructions inside your account portal.

Can I fund my account by credit card, debit card or PayPal?

No, funding your account with a credit card, a debit card, PayPal, traveler’s checks, or credit card checks will not be accepted.

What is an ACH transfer?

Automated Clearing House (ACH) transfers are electronic money transfers, bank to brokerage, processed through the ACH Network. There is no fee associated with your Lime Trading account to establish this relationship or to transfer funds. The process is paperless — no lost checks, no postage charges. Please note that ACH relationships cannot be established for IRA accounts at this time.

How long does it take to transfer funds via ACH?

Transferring funds via ACH takes approximately 1-3 business days. There is a hold of 5 business days to trade with funds deposited via ACH. You may have this hold lifted by submitting proof that the funds have cleared your bank account to info@lime.co or fax +1 (646) 381-3624.
ACH deposits may be withdrawn via ACH after 10 business days of the original deposit. Otherwise, ACH deposits may be withdrawn via check, wire or ACAT after 60 calendar days have passed from the original date of deposit. If a client has funds in the account to cover the deposit, we will make funds available the following day.

How much does it cost to set up/use an ACH?

There is no cost involved with an ACH deposit, withdrawal, or activation. To set up an ACH, please link through https://myaccount.lime.co or submit the ACH Activation form via email to support@lime.co.

How to set up an ACH?

ACH may be set up through your account portal under Transfers. You will need to complete the online form and submit a bank statement showing routing and account number. Once an ACH link is established, a customer may use it to do incoming and outgoing ACH transfers without any more paperwork.

How to set up a wire?

Wires may be set up through your account portal under Transfers. First time wires require a recent bank statement for the receiving account.

Do you accept third-party transfers?

Deposits by a third party will not be accepted under any circumstances. We do not send third party transfers.

How long does a domestic wire transfer take?

Domestic wire transfers can take up to 24 hours provided, all account information is correct on the wire transfer. Incorrect or missing account information may delay the credit of your wire transfer to your Lime account.

How long does a foreign wire transfer take?

Foreign wire transfers originating from a non-U.S. bank generally take 24 to 48 hours (though this may vary depending on the country of origin) for our clearing firm to receive and post funds. Incorrect or missing account information may delay the credit of your wire transfer to your Lime account.

What do you charge for outgoing account transfers?

Visit our pricing page to learn more about fees.

Order Types and Securities

What is a market order?

A market order is an order to immediately buy or sell a stock or other assets at the best available price, effective for same day orders.

What is a limit order?

A limit order is an order to buy or sell a security or other assets at a specified price or better. A buy limit order is executed at the limit price or lower, and a sell limit order is executed at the limit price or higher.

What is a stop order?

A stop order is an order to buy or sell a security or other assets when a specified price is reached. Once the specified price is reached, the order becomes a market order. A buy-stop order is entered at a stop price above the current market price. A sell-stop order is placed below the current market price.

What is a stop-limit order?

A combination of a stop order and limit order. Once the specified stop price is reached, the order becomes a limit order to buy or to sell at the specified limit price or better.

May I trade during extended hours?

Yes. Trading during extended hours is subject to a commission surcharge of $0.003 per share. This fee applies to orders executed on the Electronic Communication Network (ECN). Extended pre-market trading is available between 7:00 a.m. – 9:30 a.m., EST. Extended after-hours trading is available between 4:00 p.m. – 8:00 p.m. EST.

How do I cancel an existing order?

Locate the “Orders” widget on the Lime Trader platform. You will see a cancel button next to each open order. Press the cancel button to submit a request to cancel your order.

Can I modify an open order?

Open equity orders may only be changed between 9:30 a.m. and 3:30 p.m. (Eastern Time) during normal market hours.
Outside these times, you must cancel your order and enter a new order. From the Lime Trader platform, locate the “Orders” widget. In order to modify the order, click on the “Replace” button, located in the “Replace” column. Please note that all order change requests are subject to prior fills, including fills not yet displaying on the system. New quantity represents the total number of shares including shares already filled by the order being changed.

Does Lime offer Good-Till-Canceled orders?

We no longer support GTC orders. Lime Trading Support can only remove these orders. Email support@lime.co to learn more.

Is there an additional charge to cancel an order?

No, there is no charge to cancel an order. Please note, however, if the order has already been filled, even partially, then the order will be charged a commission for the portion that was filled.

Is there an additional charge to cancel and replace an order? What about replacing an existing order with a new order?

There is no charge to cancel and replace an order. Please note, however, if the old order has already been filled, even partially, then that filled order will be charged a commission. Please also note that if the new order replacing the canceled order is filled, then the new replacement order will also be charged a new commission once it begins to be filled.

What kind of products does Lime Trading offer?

We offer access to stocks, options, ETFs, and futures. Please note, asset availability may vary by product or platform.

Do you accept orders in ETFs?

Yes. Clients can place trades in ETFs trading on US exchanges.

Do you offer margin for ETFs?

Margin requirements for non-leveraged ETFs are the same as those for regular stocks. Leveraged ETFs are held at a 100% requirement.

Can I trade foreign stocks?

Lime Trading does not offer access to foreign markets or foreign settling securities listed on the OTC markets.

Can I trade preferred stock and class shares? How do I enter orders for preferred stocks? Class shares?

You can trade both preferred stock and class shares. There is not a standardized format for preferred or class shares. As a result, you will see these shares being formatted in two possible ways. For preferred shares, you will generally see them formatted as AIGpA or BACpL with the lower case “p” denoting “Preferred.” Class shares are generally formatted with a period followed by the class. For example, Berkshire Hathaway Class B shares would be formatted as BRK.B

Options FAQs

Do I need to update my Lime Trader account in order to trade options?

The account must be approved for options in order to trade options. If you do not have options on your account or would like to upgrade to a higher level, you can go to myaccount.lime.co, navigate to Account > Features > Options.

How do I exercise my options?

To exercise an option, please submit a request from your email address on file to support@lime.co. The email must include your account number, name, number of contracts to be exercised, and the option symbol to be exercised. Funds to cover the cost of exercise must be in the account prior to submitting the request, or the request will be rejected due to insufficient funds.

When can I exercise my options?

Requests to exercise options can be submitted at any point before 3:00 PM EST on the last trading day prior to the date of expiration. Please note that for a request to be processed the same day, it must be received via email prior to 3:00 PM EST. Please submit the request to support@lime.co.

Where can I see that my options are exercised?

You can view your exercised options on your monthly statement and on your Lime trading terminal via https://tx.lime.co.

To view your statements online, click on the “Reports” button located inside of the account portal.

To view the exercise transaction in your trading terminal, you can select a two-day time range after the day that you submitted the assigned request, under the 'History' section of the screen.

How much does it cost when I exercise my options?

There is a $20 fee per exercise or assignment. This fee is charged on a per option symbol basis.

When are my options assigned?

Given the option contract, options held short can be assigned at any time. Options are generally automatically exercised if in the money at expiration but may not always be exercised. Long option holders can request to not exercise contracts.

How much does it cost when my options are assigned?

There is a $20 fee per exercise or assignment. This fee is charged on a per option symbol basis.

Where can I see that my options are assigned?

You can view whether your options are assigned on your monthly statement and on your Lime online trading account. To view your statements online, click on the “Reports” button located inside of the account portal. To view the assigned transaction, select a two-day time range after the day that you submitted the assigned request.

Which orders can I place on stocks under $1?

You may place a buy or sell order for limit orders. You may only place a sell order for market orders.

Which option orders can I make? What is the maximum risk level allowed?

Lime Trading offers clients with cash and IRA accounts the ability to purchase calls and puts and write covered calls (if approved).
Qualified margin accounts have the ability to write uncovered calls and puts (if approved). Qualified margin accounts must have a minimum of $25,000 in equity to write uncovered puts and a minimum of $100,000 in equity to write uncovered calls.

Do you allow cash-covered puts?

At this time, cash-covered puts are not available.

Does Lime Trading offer streaming option quotes?

Yes. Streaming option quotes are available on the Lime Trading platforms.

Does Lime provide option charting or historical option pricing information?

Yes, these are available on the Lime Trader platform.

Am I able to trade options in an IRA?

IRA accounts are eligible to be authorized for Options Level 1 & 2, allowing you to purchase calls and puts and write covered call options. Uncovered option trading is not permitted for IRA accounts.

Margin FAQs

How do I add or remove margin?

You may update the margin on your account through your account portal. Go to Account > Features > Account Type, to request the change.
Please make sure to review the Margin Disclosure Statement.

How do I short a stock?

To short a security, you must have a margin account. Short sale orders may be entered through the platform, by clicking the “Sell Short” button on the order ticket. If the order is rejected, it is not on the easy-to-borrow list and must be requested via phone or chat. Please call 855-274-4934 and Lime will attempt to locate a hard to borrow security for you to short. Please note that short positions may be subject to hard-to-borrow or stock loan fees.

How does Lime Trading calculate the margin interest rate?

The margin interest rate is charged monthly but calculated on a daily basis for a 360-day year; the daily cost is based on your debit at the end of each day.
Daily Cost = (Amount Borrowed) x (Current Interest Rate/360)
View the margin interest rates on our pricing page under Margin Requirements.

Is it possible to place a trade in cash within a margin account?

While all trades in a margin account are placed and remain in a margin account type, you may limit yourself to using only the cash balance in your account. A margin account type does not mandate that you borrow with each purchase transaction that you make. You are only borrowing when your purchases exceed your total cash.

What are the margin requirements for ETFs?

Non-leveraged ETFs have the same margin requirement as normal stocks (National Market System or NMS securities). Leveraged ETFs are held at 100% initial and maintenance requirement.

What can I do if I cannot short a security?

If a short sale is rejected due to being hard-to-borrow, please reach Trade Desk via Live Chat from your account portal or Trading Platforms, or by phone at 855-274-4934. Lime Trading will attempt to locate a hard to borrow security for you.

What happens if I get a margin call?

Generally, you are issued a margin call via email. If you do not satisfy the margin call by the due date listed on the email, then securities are liquidated in your account to cover the margin call. For more information, please consult the Margin Calls and Flags Guidelines.

What risks are involved in trading on margin?

Please note that trading on margin involves increased risk and could result in losses that exceed initial and/or subsequent investments. Since you are allowed to borrow funds above the amount deposited, trading on margin can result in losses greater than the initial principal invested. The decision to trade on margin must be considered carefully by each investor. Please examine the following Margin Disclosure Statement. Please also read additional information, including FINRA’s Margin Information and FINRA’s Margin FAQs.

Where can I see the interest being charged to my account?

Margin interest is charged to your account every month based off a yearly rate. The rates can be found on our pricing page under Margin Rates.

Why are all my trades in margin if I'm not borrowing?

In margin accounts, all stock and option trades are done in type margin. A margin account type does not necessarily mean that you are borrowing. It is possible to have a positive cash balance in your account but still trade as type margin. You are only borrowing when your purchases exceed the total cash in your account.

Day Trading FAQs

What is a day trade?

A day trade is when a trader opens (buy/short sell) and closes (sell/buy-to-cover) a position in the same day. Please note that extended hours trading activity does count towards day trading. It is considered a day trade so long as a sell/buy to cover is executed following a buy/sell short of the same security on the same day. It is not considered a day trade if you sell/buy to cover and then buy/sell short so long as you do not close your purchase/short thereafter.

What further information is available about day trading?

Please refer to FINRA’s Investor Guidance on day trading rules.

What risks are involved in day trading?

Day trading involves significant risk. There is a high degree of risk and losses could exceed any initial and/or subsequent investment. Please be sure to review our Day Trading Risk Disclosure and Margin Disclosure. Additionally, you will find more information if you refer to FINRA’s Investor Guidance on day trading rules.

Is there a limit as to how many trades/day trades I can make?

Please be advised that a margin account holder will be flagged as a pattern day trader if he/she executes more than three day trades within five consecutive trading days. If you are flagged as a pattern day trader and your account is below $25,000, your account will be restricted from entering new positions. If you cannot meet the minimum requirements, then you will no longer be able to day trade. If you can meet the minimum requirements to qualify as a day trading account and decide to set your account as such, there is no limit as to the number of day trades that can be placed.

How do I set up my account for day-trading?

You may apply for a day trading account through your account portal. Go to Account > Features > Account Type, to request the change.
You must deposit and maintain at least $25,000 of equity in your account in order to avoid restrictions.

What happens if I day trade and I am not set up for day trading?

You are allowed to enter a limited number of day trades in a margin account without being flagged as a pattern day trader. In a margin account, if you exceed 3 day trades in a 5 day rolling period, our clearing firm will flag your account as a pattern day trading account. Once flagged, an email notification will be issued the following morning. Accounts with balances below $25,000 will be restricted to liquidations only till the balance is brought above $25,000.

What are the requirements for pattern day trading?

You need to open a margin account which can be done by completing a Margin Agreement. You need to maintain a minimum of $25,000 total account equity. You must also submit the Day Trading Agreement and Risk Disclosure. Documents are submitted via the account portal. Please refer to FINRA’s Investor Guidance for more information.

What happens if I am flagged as a pattern day trader?

Once you are flagged as a pattern day trader, this designation cannot be reversed. From this point forward, you cannot enter any day trades while your account is below the minimum requirements for a day trader. If you would like to continue day trading, you must submit the Day Trading Agreement. Lime Trading offers a one-time forgiveness, where you may submit a Change of Strategy in order to revert to a regular margin account. Your Lime Trader platform also provides day trading count information.

What happens if I fall below the $25,000 minimum within a day trading account?

If you fall below the $25,000 minimum in your day trading account, you will be restricted from trading until your account meets the $25,000 minimum or until you submit a Change of Strategy (can only be submitted once).

IRA FAQs

How do I make a contribution to my IRA?

You may login to your account portal to locate IRA cash management options.

What does it cost to open and maintain an IRA account?

Fees associated with IRA accounts vary by clearing firm. Please reach out to support@lime.co for more information.

Is there a fee to close my IRA account?

Yes, you will be charged a closing fee plus any related transfer fees.
Contact support@lime.co to learn more about IRA related fees.

Tax Information

May I ask Lime Trading client representatives for tax advice?

Our client representatives are unable to provide any tax advice and if your question is viewed as such, you will be referred to your accountant or tax advisor.

How do I get my 1099 tax form through Lime Trading?

If you have opted in for e-delivery, your tax documents will be accessible through your account portal. Just log in, go to Accounts > Reports.

Vision accounts: There will be a tab for Confirms, Statements, and Tax Documents. You can select and download your desired document here.

Axos accounts: You will see a message under Reports that says ‘If your reports didn't open in a new tab, please click here.’ Clicking this will open a new window. In the new window, click Communications in the top right corner and select the Tax Documents tab to select and download the desired document.

If you are not subscribed to e-delivery, your tax forms will be sent to the mailing address on file.

Whom should I contact with questions about my tax form?

Please contact a Lime Trading client representative via support@lime.co with any questions about your tax form. However, remember that our client representatives are unable to provide any tax advice and if your question is viewed as such, you will be referred to your accountant or tax advisor.

Can I update my form W8BEN online?

Yes, you may update your tax form through your account portal. Go to Account > Documents and Disclosures > Tax Form Update, and then follow the directions on the right side menu.

What documents are required to update my W-8BEN?

Apart from the W-8BEN tax form itself, a valid passport, driver’s license, or other government photo ID is required to process the W-8BEN. If your address has changed since you last updated your W-8BEN, you will be asked to submit an address change form and a recent utility bill to verify your new address. Joint accounts require that separate W-8BENs be submitted by both account holders.

Account Maintenance

How do I change my address or contact information?

To change the information on file for your Lime Trader account, begin by logging in to your account portal. On the right-side Profile menu, you can select and update the information on file for your account. Please note, all requests are reviewed before receiving approval. Some updates may need additional information or supporting documentation in order to update.

I forgot my password. How do I change my password?

If you forgot your password to the account portalor the Lime Trader trading terminal, just click on “Forgot Password” and enter your email or username. A new temporary password will be generated and sent to your email address. If you are still experiencing issues logging in, email support@lime.co.

How do I close my account?

Your Lime Trader account must be free of any securities or cash before we can close your account.

To close, go to myaccount.lime.co > Account > Close Account. If you need assistance, please reach out to Lime Trading Support at support@lime.co.

How do I remove securities that are not currently trading?

Please contact Lime Trading through live chat, phone, or email for more details on how to remove securities that have no current market.

Contact Information

When can I reach a client representative?

Our normal office hours are Monday – Friday, 9:00 a.m. – 5:00 p.m., excluding market holidays.

How can I contact a representative?

You can contact a Lime representative via live chat, email, phone, or Contact Sales form on our website.

Lime Support
Email: support@lime.co
Phone Numbers:
● +1 (646) 558-3232
● Toll Free: +1 (855) 274-493

Lime Institutional
Emails:
● Sales: sales@lime.co
● Client services: cs@lime.co
● Execution Services: es@lime.co
● Technical Services: ts@lime.co
Phone Number: +1 (212) 824-5000

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