Cash Account is the basic account type. It allows trading with cash. Margin trading and short selling are unavailable. Products including futures and options cannot be traded with financing. There is no limit on the number or frequency of T+0 trades.
You could open option trading privileges for cash account. TBAU is currently only offering Level 1 options trading, which allows you to buy call and put options only. If you would like to trade options, you will be required to complete an options trading assessment to make sure you understand the risks of the product and have the financial means to trade this product.
1. Can I trade on margin or do I have to trade in cash
Only Trading in cash is available with Tiger Brokers.
2-1. deposit AUD or USD, then trade in the corresponding market(s) using the deposited cash; or
2-2. deposit AUD or USD and do the currency exchange on Tiger Trade, then trade using cash
Notes on 2-2: The settlement date of currency exchange is T+2. You may refer to the following tips based on the rules made by Exchanges:
1) Immediately after the currency exchange, you may use cash to trade products of which the settlement date is T+2 (e.g. US stocks).
2) 1 trading day after the currency exchange, you may use cash to trade products of which the settlement date is T+1 (e.g. US stock options).
3) 2 trading days after the currency exchange, you may withdrawing the cash.