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Contents
1 What can I invest in?
2 How much money do I need to deposit to open an account?
3 Is there a minimum balance that must be kept in my account?
4 How do I transfer assets from an existing account at another firm?
5 What are the guidelines for trading online?
6 What are your trading commissions and fees?
7 How do I participate in IPOs?
8 What are the requirements to participate in a traditional IPO?
9 What are Private Investments and how do I participate?
10 How do I open an IRA?
11 After I place an order, can I change it or cancel it?
12 How do I determine which forms I need to fill out?
13 I'm unable to open the account application and other forms. How can I get help?
14 What if I have further questions or service requests?
15 What is a Margin Account?
16 What is the Initial Margin Requirement?
17 What is the Minimum Maintenance Requirement?
18 What is Buying Power in a Margin Account?
19 Will my order be executed at the last executed price?
Frequently
Asked Questions
What
can I invest in?
At E InvestmentBank, our goal is give our clients a
full range of products. For more information about our
products and services, call 1-877-434-2265. Or email us at help@einvestmentbank.com.
How
much money do I need to deposit to open an account?
E InvestmentBank accounts can be opened with a minimum
deposit of $2,000.
Is
there a minimum balance that must be kept in my account?
No, we do not have a minimum balance requirement. However,
if you request a withdrawal of all of the funds in your
account, we typically handle that request as a request
for an account closure. Therefore, if you instruct us
to wire all available funds from your account, we will
cancel all open orders and close your account.
How do I transfer assets from an existing account
at another firm?
To transfer an account, complete the online account
transfer form and send a copy of your most recent statement.
What
are the guidelines for trading online?
- Buying
and Selling Securities: E InvestmentBank requires
cash or stock on deposit in your brokerage account
to place a buy order. To place a sell order you must
have the securities you intend to sell in your brokerage
account. To place a short sale we require prior approval
from our clearing broker.
- IPOs:
E InvestmentBank does not accept market orders for
IPOs on the first day of trading. To purchase an IPO
on the first day of trading you must place a limit
order. IPOs cannot be purchased on margin.
- Modifying
or Canceling Orders: If a Cancel Order is received
for an order that has already been executed, it will
be rejected. If you have an open order in your account,
and another order is received to buy the same security,
even if it is a market order, the second order will
be rejected as a duplicate order. You may modify or
cancel orders from the Open Orders screen.
WMS+Co
may, at any time and at its sole discretion, refuse
to accept any order, cancel request, or change for any
reason. Notification of the rejection will be made to
you in a timely manner.
What are your trading commissions and fees?
| Interest
Rates
|
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Credit
Interest
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2.000%
|
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Compound
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2.018%
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| Margin
Interest Rates
|
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$0.00
- $24,999.99
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7.000%
|
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$25,000.00
- $49,999.99
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7.000%
|
|
$50,000.00
- $74,999.99
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7.000%
|
|
$75,000.00
- $499,999.99
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6.250%
|
|
$500,000.00
- $999,999.99
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6.000%
|
|
$1,000,000
Up
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5.500%
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| Fees
for non-trading services
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|
Electronic
Account Transfer
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$50.00
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|
Redemptions,
Exchanges, Conversions, or Tenders of Securities
Valued $500 or Above; Domestic Wire Funds; Subscriptions
of Rights or Warrants
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$20.00
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Account
Termination
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$50.00
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Quarterly maintenance fee
(Fees waived for accounts with total balances in excess of $5,000 or with two or more commissionable trades in the last six months)
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$12.00
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Photo
Copy Charge Per Page (Confirms, Account Statements,
Etc.)
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$2.00
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Returned
Customer Checks
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$25.00
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|
Client
Requested Special Mailings or Couriers
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Actual
Cost
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| Prices for Securities Transactions
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Online Investing for first 1,000 shares
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$29.95
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Each additional share
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$.03
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Options Pricing
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$29.95 + $3.00/contract
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How
do I participate in IPOs?
E InvestmentBank has developed a powerful yet easy-to-use
online system for investors to subscribe to IPOs and
other public offerings. To learn more about IPOs and
how you can participate, click here to visit the IPO
FAQ.
What
are the requirements to participate in a traditional
IPO?
Only those E InvestmentBank accountholders who meet the
suitability requirements for IPOs or other public offerings are eligible to participate.
These requirements would include, but are not limited to, investment experience, annual income,
total net worth, liquid net worth, investment objectives, and prior trading activity in public
offerings, where applicable.
What
are Private Investments and how do I participate?
Private Investments are special offerings whereby only accredited investors are allowed to participate.
How
do I open an IRA?
To apply for an Individual Retirement Account (IRA), Request an Enrollment Package by clicking here or contact us at 1-877-434-2265.
After
I place an order, can I change it or cancel it?
Some orders can be modified or canceled and some cannot.
Market Orders: Since market makers must execute market
orders promptly at the price prevailing when the order
reaches them, market orders will generally already have
been executed by the time any instructions to modify
or cancel are received. Remember, not having the report
of an execution yet doesn't mean the order hasn't executed
yet. You can place a request to cancel, but this may
be accomplished only under unusual circumstances, such
as when a stock stops trading during the day.
Limit
Orders: You can request to cancel or modify a limit
order, and Wedbush Morgan + Co will make a "best efforts"
attempt to do so. It is possible for your order to be
executed before your instructions to modify reach the
market, in which case your order cannot be canceled.
How
do I determine which forms I need to fill out?
Please call us toll free at 1-877-434-2265. You can also click here to access a list
of other forms and to view brief explanations of their
use.
I'm
unable to open the account application and other forms.
How can I get help?
The account application and other forms are in Portable
Document Format (PDF). To open these documents, you
need to have Adobe Acrobat Reader installed on your
computer. If you have not yet installed Adobe Acrobat
Reader, click here. Once you have installed Acrobat
Reader, the forms will either automatically open or
you will see a dialog box asking you how you wish to
handle the file. If you continue to have difficulty
opening any of the forms, please call us toll free at
1-877-434-2265.
What
if I have further questions or service requests?
Please call our customer service center toll free at
1-877-434-2265.
What is a Margin Account?
A margin account is an account in which customers are able to pledge assets in their account as collateral for a loan to purchase stocks.
What is the Initial Margin Requirement?
The Initial Margin Requirement is a rule set by the Federal Reserve Board and other regulatory bodies that allows customers to borrow up to a maximum of 50% of marginable securities to place a trade. The NYSE further restricts margin accounts by requiring that equity in a margin account be equal to at least $2,000.00 prior to entering into a new margin transaction.
What is the Minimum Maintenance Requirement?
The NYSE minimum maintenance requirement requires that the equity in a margin account be at least 25% of the current market value of marginable securities. Accounts with equity balances of less than 25% of current market value will receive a maintenance call requiring the sale of securities or deposit of cash. Broker-Dealers are allowed to set their own minimum maintenance requirement as long as it is not below 25%.
What is Buying Power in a Margin Account?
Buying Power is the total amount of securities that a customer can purchase. Buying Power takes into consideration available funds as well as marginable securities that are held in the account.
Will my order be executed at the last executed price?
Due to the inherent volatility of the markets, orders placed as market orders may be executed at prices significantly different from the last executed trade.
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