Understanding Accounts and Account Groups.
Accounts are the central resource in the Investment API and are needed to perform operations such as placing orders.
This overview introduces the concepts of Accounts, Account Groups and Account Types within the Upvest Investment API
Account Levels
There are two levels of accounts:
Account groups
An account group does not hold any positions, but rather aggregates all accounts within it for tax calculation and regulatory reporting purposes. We assign official security account numbers at the account group level.
Accounts
An account cannot exist within the Investment API without being associated with an account group. Accounts hold positions.
Account types
We currently support one type on the account group level, and two types on the account level:
| Account level | Account type | Description |
|---|---|---|
| Account group | PERSONAL | Account group of an individual person holding securities on their own behalf. |
| Account | TRADING | Account allows orders to be placed at instrument level and positions to be queried in the account. |
| Account | PORTFOLIO | Account allows orders to be placed at a portfolio level and positions to be queried in the account. |
More types of account groups such as joint account groups or child account groups will follow soon.