Creating account groups and accounts

Creating accounts is a key step that must be completed before operations, such as placing orders, can be performed.

This guide will lead you through the creation of account groups and accounts.

Prerequisites

 ✓   Understand Account Groups and Accounts
Details

Before attempting this guide you must understand the roles of account groups and accounts within the Upvest Investment API.

Please read the Account Groups and Accounts overview before continuing.


 ✓   Know how to create a User
Details

You must be able to create a user.


Overview

You will be able to create account groups and accounts as soon as you have created a user.

As a rule, the following steps are required to create an account:

  1. First create a user as decribed here.

  2. Then set up the parent account group.

  3. Create the account.

INFO

You can already create accounts while user onboarding and the associated checks are still in progress. The accounts remain in the status PENDING_APPROVAL until the onboarding process is completed.


   Creating an account group

After you have created the user, you can set up the parent account group as follows:

POST /account_groups

This request accepts two parameters in its body:

user_id

  • The ID of the user to be associated with this account group.

type

  • Currently, this should be PERSONAL. We support one PERSONAL account group per user.

Example request

{
  "user_id": "413715f2-5401-4b97-8055-034a6b879f8c",
  "type": "PERSONAL"
}

In the response to this request, you will receive an account group ID, which is needed to create an account and to take further actions on the account group itself.

   Monitoring account group status

The response to the request to create an account group, contains status field.

The following statuses can apply to an account group:

StatusDescription
PENDING_APPROVALAccount group approval is pending - the account group is visible via our API but cannot be acted on.
ACTIVEAccount group is active - full functionality of the Investment API is accessible.
LOCKEDAccount group is locked for all actions.
CLOSINGAccount group is closing.
CLOSEDAccount group is closed.

Initially this will be the PENDING APPROVAL status. You can check the current status of an account group by inspecting it directly using the account_group_id:

GET /account_groups/{account_group_id}

As soon as all requirements for activating the account group are met, its status will transition to ACTIVE.

You will also receive the following webooks notifying you of the key events in account group creation and acitivation:

   Create an account

After the creation of the account group, you can now setup an account with:

POST /accounts

Example request

{
  "user_id": "413715f2-5401-4b97-8055-034a6b879f8c",
  "account_group_id": "fa2414ed-8d62-46fd-85ed-565a340c81d6",
  "type": "TRADING",
  "name": "Main account"
}
ParameterDescription
user_idThe ID of the user to be associated with this account.
account_group_idThe ID of the account group to be associated with this account.
typeSpecify the type TRADING or PORTFOLIO for this account.
nameOptionally, you can provide a nickname for the account that can be used for reporting purposes.

The account will be created with the PENDING_APPROVAL status and switches to ACTIVE as soon as the user onboarding process is completed.

Furthermore, you will receive a webhook with the respective account created event. As soon as all prerequisites for activating the account are passed, you also receive an account activated event.

Account status

The following status apply to an account:

StatusDescription
PENDING_APPROVALAccount approval is pending - the account is visible via our API but cannot be acted on.
ACTIVEAccount is active - full functionality of the Investment API is accessible.
LOCKEDAccount is locked for all actions.
CLOSINGAccount is closing - only sell orders or the transfer of positions out are permissible before the account is closed.
CLOSEDAccount is closed with zero balance successfully.

   Listing account-groups-and-accounts

You can list all account groups and accounts of a specific user with

All account groups and accounts can be listed with

   Creating accounts and account groups complete!

Next steps

You are all set now: a user is onboarded and an account group as well as an account have been created. Your user is now ready to fund the account and to place the first order. Follow the Payments guide.

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