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

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.

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.

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:

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:

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:

• Account group created event.

• Account group activated event.

 →    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"
}

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.

Webhooks notify you of events in business processes, not the success or failure of the initialisation of those processes.

Please be sure to check the HTTP status of the response to your requests and handle failure cases appropriately.

Account status

The following status apply to an account:

 →    Listing account-groups-and-accounts

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

• GET /users/{user_ID}/account_groups and
• GET/users/{user_ID}/accounts.

All account groups and accounts can be listed with

• GET /account_groups and
• GET /accounts.

 ✔    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.