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Questions tagged [brokerage]

For questions about brokerage firms, opening a brokerage account, etc. Questions asking for specific service recommendations are off-topic.

2
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1answer
88 views

Should one file 1040X to get extra $5 tax refund

After I finished my taxed in last week of March, I received a Updated 1099 with only one modification where 199a is modified from zero to $50 or so. Refund is about to come in a week. Initial values ...
2
votes
1answer
49 views

Tax implications of transferring directly-owned stock to a brokerage account?

I don't know all the proper terminology so I hope this is understandable. My father gave me a chunk of stock. The stock I now own is directly bought and handled through the company who's name is on ...
1
vote
2answers
114 views

Broker Didn't Invest the Roth Contribution in the Tax Year They Said They Did - Now We are Behind. What can we do?

The short story is: In the spring of 2016, we gave our broker a check to max out our Roth IRA contributions for the tax year of 2015 (check was written and cashed by the broker before April 15 in ...
2
votes
1answer
114 views

How does ownership in fractional shares work?

I've been trying to find out some more information about fractional shares, and how they work. I understand conceptually, you own x% of a share rather than x "full" shares, but I'm curious about how ...
2
votes
2answers
142 views

Downside of having multiple brokerage accounts?

I have around 4-5 long term objectives, that I would like to invest towards separately. I was planning on opening a separate brokerage account for each objective. The benefit would be that each ...
0
votes
1answer
54 views

Online Investing and Trading Cryptocurrencies, Equities and Options in U.S. Markets [closed]

Would you be so kind and tell me which brokerage services might have fastest website and features (e.g., "limit orders", "stop limit orders", etc.) for trading cryptocurrencies (e.g., from BTC to DOGE)...
0
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1answer
36 views

What is “Stock BP” in a brokerage account that's not trading on margin?

I saw that this question was answered on reddit here as well as a similar question was answered on this S.X here. But I wanted to confirm the meaning of a "Stock BP" amount if I'm not trading on ...
3
votes
1answer
84 views

How does a private entity FINRA have authority to impose fines

FINRA is a private entity per https://en.wikipedia.org/wiki/Financial_Industry_Regulatory_Authority and per http://www.finra.org/industry/disciplinary-actions and also otherwise its revenue comes from ...
1
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2answers
211 views

Does SIPC protection apply if a brokerage doesn't actually purchase securities?

Suppose there is a brokerage (not like Madoff case), where investors buy ordinary stocks/ETFs (qqq, brk-b orcl or any stock traded on NASDAQ/NYSE, not pink sheet or unlisted) at a time (and never sell)...
3
votes
1answer
331 views

Is SIPC a scam or does it protect investors from fraud?

I was trying to understand if SIPC is going to protect me. Despite the higher limit, even for small investors, it can be a problem if I consider https://www.pbs.org/newshour/nation/why-brokerage-...
1
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1answer
49 views

Different brokerage accounts for HSA, IRA, 401(k), misc.?

I truly cannot find this information on my brokerage website. I have a brokerage account for my HSA, and if I wanted to use this same brokerage to invest cash I have sitting in my bank acct. would I: ...
5
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1answer
172 views

What happens when a stock gets removed from the exchange I used to buy it?

I own stocks of Siemens Gamesa which I (foolishly) bought via the XETRA stock exchange instead of the more liquid Spanish Mercado Continuo. The stock has always received little attention and liquidity ...
1
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3answers
267 views

Take money out of paycheck into income producing asset(s)

My company has a 401k plan where they would take out money from my paycheck and match whatever I put into it. The concept of taking money out of my paycheck every two weeks and put it into a ...
1
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0answers
44 views

How do you know if stock warrants are american or european style?

On interactive brokers i was looking at some put warrants for GE which are being traded on the frankfurt exchange but i don't know if i can exercise them when i want, since I don't know if the ...
1
vote
1answer
71 views

Settlement timing when buying/selling mutual funds

Schwab tells me that Money Market and all of their Mutual Funds settle at T+1. Suppose I have $1000 in a Money Market and I wish to buy $1000 in an SP500 index Mutual Fund. I issue a sell order for ...
5
votes
1answer
394 views

Exchange Roth IRA mutual fund to Roth brokerage account

Will I incur taxes for exchanging funds in a Roth IRA mutual fund (Vanguard) for a Roth IRA brokerage account?
3
votes
1answer
50 views

What recourse does FINRA provide?

I am contemplating bringing a complaint against a brokerage regarding an order in good standing that was not processed correctly. If FINRA does find against the broker, other than fines/sanctions, ...
0
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3answers
310 views

Why does it take 5-7 business days to transfer a brokerage account from Fidelity to Vanguard?

I was looking at the status of a transfer of a brokerage account from Fidelity to Vanguard, and read that it is estimated to take 5-7 business days: Why does it take 5-7 business days to transfer a ...
1
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0answers
41 views

How to transfer common stocks from a broker in France to a broker in the United States?

I have some stocks in a brokerage account in France. How can I move them to a brokerage account based in the United States?
2
votes
2answers
64 views

How do trading platform like TD-AmeriTrade or Fidelity work?

When an individual places a trade on an online brokerage, is it against their order book or is it against the order books of exchanges like NYSE? Do brokerages warehouse some risk when making markets? ...
1
vote
2answers
309 views

Two Margin Accounts

Both E*Trade and TD Ameritrade have a policy that says an investor cannot have two margin accounts with them. He can have two or more cash accounts. Neither firm could tell me why they have this ...
0
votes
1answer
42 views

Received Excess Distribution from IRA how to reflect in Taxes

How to reflect excess distribution I received from regular IRA account (brokerage). I rolled over 30K from one IRA to brokerage IRA (within same bank) I contributed $5500 to brokerage IRA (late March ...
5
votes
1answer
62 views

Are DRIPs subject to a settlement period?

Are DRIPs subject to a settlement period (e.g. T+2)? Does the answer depend on whether the dividend reinvestment accounts for complete shares vs only fractional shares? Are there any time ...
0
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2answers
239 views

How can I buy options for foreign stock indices?

I'm a frequent trader of SPYW, and I'm interested in learning how I can get my hands on something similar for foreign exchanges like SHCOMP and JPX. Can that be done with American brokers?
5
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4answers
5k views

FDIC vs SIPC: Are they the same?

Before posting this question I did read Is SIPC coverage on cash as strong as FDIC?, but the answer did not seem to make much sense/lacked many answers to help clarify for me. I was doing some ...
3
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1answer
138 views

How do I pick the right company for investing services?

I am looking to move forward with my life and get my finances on track/be financially responsible. Part of that plan has me wanting to start looking at investing and other means to help grow my ...
1
vote
2answers
106 views

Are institutions like UBS limited in what they can buy, does that put the investor at a disadvantage?

I try to help with the finances of family members to make sure they are making wise decisions. I have a family member that is invested with UBS, and they have a financial advisor there that they have ...
4
votes
1answer
120 views

Why might a brokerage firm stop offering a particular ETF commission free?

I have been happily buying units of IVV commission free via TD Ameritrade. They just revised their list of free ETFs and sadly IVV is not one of them. Most of the other institutions don't offer it ...
1
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0answers
61 views

What are the costs associated with the buying and selling of US Stocks for a UK Citizen?

So far from my research I have estimated costs, ignoring fluctuations in foreign currency exchange, for a trade profit of < $9,000, held for less than 1 year as: US capital gains tax 10% of profit ...
5
votes
1answer
261 views

Recover long lost shares held by brokerage that got acquired

I am a UK citizen and had a brokerage account with suretrade.com in 2001, with a number of positions in NASDAQ traded companies which today would be worth a few thousand USD for the companies still ...
4
votes
4answers
516 views

Am I scammed by this company?

I'd like to ask for a bit of help. In a bad moment I put a good amount of money into a supposedly broker firm. Now we are in a situation where it happens my shares are preferred shares and they can't ...
1
vote
2answers
111 views

Make disbursements from brokerage account

I am thinking of opening a brokerage account for the first time and wondering how I can do disbursements from it for large purchases, like a car, for example. I do not plan on getting checking for the ...
2
votes
2answers
227 views

Diversify across multiple brokers?

Right now my brokerage account has a non-trivial fraction of my total assets. It's all in a single account with Interactive Brokers. I know in theory customer funds and assets are ring-fenced, but ...
4
votes
1answer
95 views

Money-market or cash-type ETFs for foreigners with U.S brokerage account

Non-US investors who have cash in their U.S brokerage accounts, say Interactive Brokers, will be subjected to U.S estate tax. What are some securities, ETFs that are close to cash that these foreign ...
1
vote
1answer
119 views

Is U.S estate tax applicable to joint brokerage account of non-US citizens if one party dies?

This person has a joint account in Interactive Brokers with his wife. The couple are not U.S citizens. Suppose the husband passes away suddenly without warning. Is the joint account subjected to U.S ...
16
votes
2answers
3k views

Why do 1099 forms take so long for brokerages to prepare and send out?

I generally have my taxes done by mid January when my W-2 becomes available, but I'm often stuck waiting as long as another month before I can file because I'm waiting for my brokerages to send me my ...
4
votes
1answer
3k views

How do brokerage firms make money?

I know that this question has been hinted at on other open question sites like Quora but I have yet to find anyone who lists all of the points in one place. I understand that firms make money by: ...
3
votes
1answer
102 views

I trade options in the U.S. using Schwab. How could my wife do the same in Canada?

I'm an American, married to a Canadian. We split time living in both countries. I trade options and have a stock portfolio using Schwab. My wife would also like to have a similar portfolio of stocks ...
7
votes
2answers
573 views

What are the effects of Ameriprise moving my mutual funds to a brokerage account?

I have some long-held accounts at Ameriprise (currently branded as Columbia mutual funds). I just received a letter dated Nov-1 which starts thus: As a client of Ameriprise Financial Services, Inc.,...
1
vote
1answer
82 views

To park cash and have no risk of losing principal, how can I achieve in my IRA or brokerage a counterpart of a bank-like savings account?

I have $50k+ in my personal (taxable) and $50k+ in my retirement accounts. If I am conservative - I use a CapitalOne360 savings account (that in Sep 2016 yields 0.75%). For my cash in IRA (...
3
votes
2answers
144 views

Contract notes in India: Benefits for delivery trades?

Suppose I buy equity in an Indian online brokerage on delivery basis (not day trading), intending to hold the equity for extended periods of time. What is the benefit of asking and paying extra for a ...
2
votes
2answers
33 views

Have brokerage and DEMAT account in separate places in India

Can I have brokerage and DEMAT accounts in two separate institutions - or do they have to be in the same institutions? For example, can I have a brokerage account at zerodha.com and a DEMAT account ...
0
votes
3answers
90 views

Is a 40-50% Brokerage Fee Reasonable for Items Shipped Across the Border?

Recently I had a package shipped by UPS. When the man came he said I owed $49 in brokerage fees, almost HALF of the total value of the $100 item. Is it reasonable to charge this much?
4
votes
1answer
645 views

Bank money market account vs. Brokerage money market fund

I would like to ask about the differences between BMM's and Brokerage money market funds (besides one being an account and the other being a fund). What are the pro's and con's of one and the other? I ...
8
votes
2answers
21k views

Where does the money go when I buy stocks?

Let's say I spent 10k and bought some shares of stock A, where does the cash 10k go? Does it go to the stock broker and then the stock broker gives the money to the company of the stock A?
0
votes
2answers
752 views

When you transfer stock from one broker to another, is cost basis sent to the new broker?

When you transfer stock from one broker to another, is cost basis sent to the new broker? Here is my case: I want to transfer some vested shares from Schwab EAC to plain old Schwab. Schwab EAC is ...
1
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0answers
86 views

UK citizen trading in USA?

I am a UK citizen and have worked in the US in the past on work visa. I am back in the UK now but want to start investing in the US stock market. I have a valid SSN and a US back account. Are there ...
-1
votes
2answers
405 views

Best buying price on stock marketing based on market depth detail (CSE atrad tool)

I'm willing to buy some stocks from specific holdings. And on the trading tool there is a portion shows bid and ask list. Here I attached the screen shot of the window. What is the side (bid / buy) ...
2
votes
0answers
557 views

How to transfer Brokerage Account from USA to Canada?

I am a new permanent resident in Canada (Venezuelan citizen). Since several years ago I have brokerage accounts in the US (in OptionsExpress). OptionsExpress doesn't serve Canadian residents, so I ...
-2
votes
1answer
140 views

Do those who invest large amounts of money in stocks pay typical brokerage commissions?

I actually invested $2000 in stocks, and paid brokerage fees of 0.5% to the broker on both sides (buy & bell) or approximately $22.50 ($10 + $12.50 in commissions after a gain of $500). So my ...