New Account Questions

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Opening an Account

(https://autoshares.com) New Account Application For US and Non-US Applicants Get Started, Today. Our online account application takes approximately ten minutes to complete. If you have any questions, please email us and a customer service representative will assist you in getting started with AutoShares. If you are applying from a non-US jurisdiction, please check this list to determine if we can process your new account application. Apply Now Start a New Application (https://autosh...

Available Account Types

(https://autoshares.com) Cash, Margin, and IRA Accounts. Click Here for Account Types (https://www.autoshares.com/account-types) Individual A personal investment account registered under one person's name only. Forms needed: Account Application Ready to Get Started? Click Here to Apply for a New Account. (https://www.autoshares.com/open-new-account) Joint Tenants with Rights of Survivorship This is a joint account in which, in the event of death of one of the tenants, the owners...

Setting up IRA Accounts

(https://autoshares.com) Establish, Rollover, or Transfer an IRA Account to AutoShares Account types include Traditional, Roth, Rollover, and Educational IRAS. Getting started is easy. Fill out the standard new account application online. After you submit your application, you will be emailed a link to the designated beneficiary form. Complete the designated beneficiary form and email it back to us. Your IRA Brokerage account will then be established and an account #number issued. Traditio...

Limited Margin IRA Accounts

(https://autoshares.com) What is IRA Limited Margin? IRA Limited Margin (ILM) allows you to trade in margin without triggering trading restrictions, such as good faith violations, typically received in a cash account. ILM does not allow borrowing against existing holdings, creating cash or margin debits, short selling of securities, or selling naked options. It allows for day trading of stocks and limited options (supplemental limited margin and option agreement required) in the IRA. Type...

How do I transfer an account to AutoShares?

(https://autoshares.com) Account Transfer Form (ACAT) E-SIGN AN ACCOUNT TRANSFER FORM An Account Transfer Form (ACAT Form) is typically used to transfer an entire account (including cash and securities) from another broker to your new AutoShares Brokerage Account. You may also use an Account Transfer Form to initiate PARTIAL transfers of Cash and/or Securities. Please sign and complete the Account Transfer Form below and return it to us along with your New Account Paperwork. Make sure to in...

Account Opening Minimums

Account Opening Minimums Traditional Online Investing: $2000 AutoTrading Account: $2000 Active Trading Account: $25000 (https://autoshares.com)

Funding Your AutoShares Account

Funding By Wire All wired funds are to be sent as follows: BMO Harris Bank 111 W Monroe St Chicago, IL 60603 ABA# 071000288 Further Credit to: RQD* Clearing, LLC 250 Vesey Street #2601 New York, NY 10281 Account # 2316222 Further Credit to: Customer Name and Brokerage Account Number - REQUIRED Note: Wires Require Your Brokerage Account # or wire will be returned. No Third-Party Wire Transfers will be accepted. * * Funds will be returned if the funds are deemed Thir...

ACH Funding Instructions

(https://autoshares.com) ACH Funding Instructions You can electronically transfer funds to and from your checking account to your AutoShares account. ACH transfers typically take 24-48 hours to process and are available for no charge. There is a limit of $50,000 per day for all ACH transfers. * Funding must be initiated from an account with the same name as your AutoShares Brokerage Account. No third-party transfers. Initial ACH Setup Instructions Setting up your first ACH requires yo...

Incoming Wire Instructions

Funding By Wire All wired funds are to be sent as follows: BMO Harris Bank 111 W Monroe St Chicago, IL 60603 ABA# 071000288 Further Credit to: RQD* Clearing, LLC 250 Vesey Street #2601 New York, NY 10281 Account # 2316222 FFC: Customer Name and Account Number Wires Require Your Brokerage Account # or they will be returned. * * Funds will be returned if the funds are deemed Third Party (defined as any account other than one of the same name as the account title of your ac...

Day Trading Margin Rules

Margin Equity Requirements - Day Trade Margin Account All accounts classified as day trade margin accounts, must have a minimum equity of $25,000 each day to affect day trades. If account falls below the minimum equity level, a minimum equity call will be issued and is due the same business day. While the minimum equity call is outstanding, the account will be restricted to liquidating transactions only. A client may appreciate out of a minimum equity call. Margin Equity Requirements - No...

Trader Responsibilities

TRADER RESPONSIBILITIES Clients must be familiar with the following responsibilities and must agree to follow all Regulatory and Exchange rules. ACCOUNT REVIEW It is always the client's responsibility to review their account daily, through the clearing firms at their websites\to compare the information shown there versus the information displayed on the trading software. If there is any discrepancy of any kind, including but not limited to; current equity, buying power, or positions th...