Account Opening and Deposit Bonus (None Yet)

About IRA and TradeUP

An individual retirement account (IRA) is a retirement savings account in the United States that offers a variety of tax advantages and investment options. TradeUP offers three IRA types: Traditional IRA, Roth IRA, and Rollover IRA. Each type has its own advantages to consider when building a retirement savings plan.

  • Traditional IRA (Traditional IRA): Contributions may be tax-deductible, earnings grow tax-deferred until withdrawn, and withdrawals in retirement are typically taxed as ordinary income.
  • Roth IRA (Roth IRA): Contributions are made with after-tax money (not deductible). Earnings grow tax-free, and qualified retirement withdrawals are generally tax-free as well (subject to specific requirements). Income eligibility requirements apply.
  • Rollover IRA (Rollover IRA): Specifically used to receive eligible employer-sponsored plans (such as 401(k), 403(b), 457, and TSP) or other IRAs. Funds can continue to grow tax-advantaged after being transferred in. This allows you to consolidate retirement savings without tax or penalty.

For a practical guide on how to save a lot on taxes through an IRA, check out our article:

We introduced TradeUP in a previous article. It has a U.S. securities clearing license and is also protected by SIPC.

TradeUP is a trading platform offered by TradeUP Inc. Securities products and brokerage services available through the TradeUP App are offered by TradeUP Securities, Inc. TradeUP Securities, Inc. is a member of FINRA, SIPC, and NYSE, 437 Madison Ave, 27th Floor, New York, NY 10022. For further information about TradeUP Securities, Inc., see FINRA BrokerCheck.

The earlier article focused on opening an individual investment account. TradeUP has now added IRA functionality, and you can choose IRA Account when opening an account. I recommend opening both, since the bonuses for the individual account and the IRA Account can both be claimed separately.

Account Opening Requirements and Steps

Most individuals under age 70½ (Traditional IRA) or with earned income (Roth IRA) may open one. Specific rules and income limits vary by IRA type. A Social Security number is required to open an IRA account.

The steps are as follows:

  • Click sign up with email or iPhone, then fill in your information to register
  • After entering the registration screen, select open Account
  • Click and select [Retirement Account]. Make sure you choose the right one here!
  • Fill in personal information
  • Enter the applicant's residential address
  • Fill in employment status and regulatory information
  • Select account and trading type
  • Enter assets, income, and investment goals
  • Click to add beneficiary information
  • Enter your mobile phone number

Deposits and Transfers

TradeUP offers multiple deposit methods, including ACH electronic transfers and wire transfers. The steps are similar to funding an individual account.

ACH is an electronic funds transfer method. As long as you link your bank account to your TradeUP account, you can initiate an ACH deposit right away. After TradeUP receives your deposit request, it will contact your bank to process the deposit. Currently, TradeUP accounts only support linking U.S. local bank accounts.

  • For ACH, go to: Me > Trading Account > Deposit Funds.

To initiate a wire transfer, you need to contact your bank and include your TradeUP account number and name in the wire instructions so TradeUP can match the funds and credit them to your account as soon as possible after receipt. Any wire transfer without an account number or name may be returned or cause a delay in funding.

  • For wire transfers, go to: Me > Trading Account > Deposit Funds > Wire Deposit.

IRA rollover: You can first contact your original institution to learn the transfer-out process, then submit a transfer request through TradeUP. Please refer to

TradeUP Account Advantages

The trading features are similar to those of an individual account, so here are some of the advantages:

  • 0 commission, 0 fees, 0 platform fee
  • Supports U.S. stocks, ETFs, and fractional shares
  • Bilingual online customer support in Chinese and English
  • Bilingual interface that is simple and intuitive
  • 24-hour trading: Sunday 8:00 PM ET - Friday 8:00 PM ET.
  • Real-time market data: live quotes, deep market data, and analysis.

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