Questions tagged [brokerage]

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

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Interactive Brokers Margin Accounts

I've read the margin documentations on IB but am not sure given the following scenarios. I have a reg-t margin account trading stocks/etfs. Scenario 1: I do weekly re-balancing of a portfolio of 1-...
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2answers
1k views

What is the correct way to report a tender offer fee on my taxes?

In 2011, I participated in a tender offer for Sunpower which had a fee of $25. My broker's tax form 1099B showed the proceeds from this offer but did not exclude this fee. My own calculations did ...
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1answer
153 views

Is it possible that for shares to be reinvested in a stock you already sold?

I just recently set my taxable investment account from reinvest dividends to deposit in cash. However, there seems to be a delay (I assume related to one of the various dates associated with dividends)...
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1answer
4k views

Understanding summary of brokerage account value, cash balance, buying power?

I am totally new to stock and their trading. I have questions when I was trying to understand an account at a brokerage company: Account 12345678(Margin) Net Liq Value $23,416.36 Buying Power - ...
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2answers
7k views

How does transferring to a new brokerage account work?

I currently have 2 brokerage accounts - one at Schwab and one at Vanguard - I would like to consolidate them both at Vanguard. How does that work? Do the stocks (mutual funds in this case) just ...
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4answers
366 views

Other than being able to borrow to invest, how is a margin trading account different from a cash account?

Other than being able to borrow against one's portfolio value to purchase additional investments, how is a typical brokerage margin trading account different from a typical cash trading account? ...
7
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3answers
10k views

How can a U.S. citizen open a Canadian brokerage account?

Is there any way to open a Canadian brokerage account while still being a U.S. citizen? I would like to open an online brokerage account if possible in Canada to trade on the TSX (I hate ADR).
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1answer
2k views

Who is the counterparty when buying shares through a broker

If I buy shares of a company through a broker, who is my counter-party? The company or the broker? i.e Do I face counter-party risk twice over(if company goes bankrupt and also if broker goes bankrupt)...
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1answer
464 views

Can I open an investment account in the US for my US citizen sister living abroad?

Here's my issue. I have a sister that lives in Israel. She is a US citizen, and holds a US passport, and is also a citizen of Israel. 20+ years ago, they opened a Cash Management Account (CMA) in ...
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1answer
237 views

Will foreigners using a US broker to buy non-US stocks be subjected to 30% withholding tax on dividends?

Currently, foreigners are subjected to 30% withholding tax on dividends when they buy US stocks through a US broker. Will they also be subjected to the same tax if they buy international stocks (say, ...
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2answers
692 views

Can you use external money to pay trading commissions in tax-free and tax-deferred accounts?

I contribute the max to my Roth IRA every year ($5500 in 2013, for example). However, let's say I use that money to buy two stocks, with a commission $10 each, so I am effectively only contributing $...
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2answers
4k views

Why does a no-load fund have transaction fees? Isn't that a contradiction?

According to Scottrade's website, the T. Rowe Price Retirement funds are "No-load" but at the same time "Transaction fees apply". I thought the whole idea of No-load funds was not having any ...
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1answer
310 views

Do transaction fees for mutual funds apply when purchasing additional shares?

My broker charges me a $19.99 transaction fee when purchasing some mutual funds. I believe that they will also charge this fee when selling shares in the fund. What is not clear to me, is if they ...
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3answers
1k views

What are the cons to using a brokerage account for day to day banking?

I've noticed (for awhile now) that my online discount brokerage account carries many features of a traditional bank account: Online bill pay Direct Deposit Checks ATM Card FDIC or SIPC coverage Cash ...
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1answer
988 views

Is Tradeking collecting too much information when I open an Roth IRA?

I recently signed up with Tradeking a Roth IRA account. During registration, I entered my home address DOB and SSN. I was ok with it. But then Tradeking started sending me emails (1) the first one ...
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1answer
318 views

If I transfer brokerages for a taxable investment account, who is responsible for sending Form 1099s?

I am considering transferring brokerages for a taxable investment account. Will the new brokerage be responsible for sending me all Form 1099s for tax year 2013? Or is the old brokerage still ...
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2answers
5k views

Do margins on a brokerage account affect your credit score?

If you have the ability to trade on margin, will this improve your credit history/score? If you refuse to pay the margin and lack the funds to pay for the money borrowed, I understand that it can ...
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2answers
280 views

Execute or trade an options contract?

Take this call for example: FIO Jan13 22 Call Let's say this Thursday the stock goes to $23. Here is my math: Cost of option: $35 Cost of stock bought at $22: 100x$22 = $2,200 Thursday price of ...
4
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1answer
167 views

Borrowed shares how are they tracked?

When a short position is opened in the stock market how does the brokerage know whether the trader has actually borrowed the shares or not?
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1answer
510 views

When you buy mutual funds through a broker, where are the shares held?

This question arises from a previous one regarding managing all one's investments from one screen on a brokerage house's web site, and a recent answer by @Patches regarding segregation of the ...
3
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2answers
245 views

How can I request and verify that my identity information is purged from a bank I no longer use?

I have consolidated a lot of finances from several banks (Chase, a Credit Union) and brokerage houses (Schwab, Fidelity) and since I no longer use these institutions I would like to request a complete ...
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1answer
1k views

Wells Fargo Brokerage has no shares of stock to short

I want to short several hundred shares of a stock. Wells Fargo brokerage has no shares to short. Would a different brokerage be likely to have access to shortable shares, or do they all access the ...
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2answers
575 views

Which brokers offer the largest selection of mutual funds?

I use Morningstar for mutual fund picks, but my broker (Merril Lynch) does not offer many of them. It's a pain because sometimes they don't offer good fund alternatives. Is my only option to move to ...
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1answer
266 views

At Questrade, based on the commission schedule, does an investor need to buy a minimum of 495 shares?

From this link: http://www.questrade.com/trading/tax_free_savings.aspx It says : commissions are 1¢ per share, $4.95 minimum / $9.95 maximum. That means , the investor needs to buy a minimum of ...
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2answers
21k views

What does “this trade was unsolicited” mean on a brokerage confirmation?

I sold some stock in my IRA brokerage account with Vanguard. Everything seems to have gone through fine, but the confirmation states in all caps that "this trade was unsolicited." I'm just curious ...
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1answer
7k views

What is the fee charged for ADRs, which is deducted when dividends are paid?

My brokerage charges me a fee to hold ADRs; this fee is deducted anytime the ADRs pay dividends. I'm told that this is a standard fee and could not be negotiated. Is this fee truly carved in stone, ...
2
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1answer
184 views

What is the cost of “free” trades?

It's not unusual to get a certain number of free trades when you open a new account at a brokerage, but some firms have gone as far as effectively eliminating trading fees altogether. For example, ...
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2answers
2k views

Finding a Brokerage for Dollar-Cost Averaging

What lessons can you share when practicing dollar-cost averaging with a discount brokerage? The goal is an inexpensive way to invest with every paycheck. With amounts that small, commissions have a ...
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2answers
203 views

Can I roll back an accidental brokerage & retirement account transfer?

I transferred my accounts (Brokerage + Traditional IRA + Roth IRA) from E*Trade to Edward Jones in full. I didn't realize a couple things in the process: That fees would be assessed ($180). That the ...
34
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4answers
2k views

Why do a lot of people recommend Vanguard so often?

What is it with Vanguard? I've heard the name come up a bunch, but I don't know why this particular company is getting all the good free press...
8
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5answers
927 views

Checking to brokerage transfer latency: Why does it take 3 days to move money, even at the same bank?

It takes my bank 3 days to transfer money back and forth to my brokerage account, even though my checking and brokerage accounts are both with the same bank. I don't understand why in the digital age ...
5
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1answer
15k views

Can I transfer my Employee Stock Purchase Plan assets to a different broker?

I'm considering consolidating my assets with a single broker; is there any way I can transfer the shares I own to another manager? The trick is that each ESP purchase has a 2 year period before I ...
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2answers
1k views

How can I purchase Skype stock during the IPO?

Skype will be going IPO soon. How can I purchase their IPO stock?