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What are the computer specifications needed to run TradePortal's software? |
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Our software will run on Windows 98, NT, 2000 and XP operating systems. The programs are not currently Macintosh compatible. The minimum specifications for you computer need to be 700 mhz processor, 128 mb of ram, 50 mb disk space and a reliable internet connection.
For additional related information, please see the Technical Support and Customer Support sections of this website.
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What is an Internet account? |
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An Internet account is a special type of account designed specifically for individual investors who prefer to make their own investment decisions by using the Internet to place their orders.
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What can I do to increase the security of my account? |
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The best way we know to safeguard your account is to never reveal your password to anyone. You should not write it down where anyone can find it or possibly figure out what it is. When choosing your password, be sure that you do not use words that can be found in a dictionary, or numbers in a series. One common mistake that people make is to access this site from an unknown persons computer. Computers store information, if you don't trust that individual with your money don't use their computer.
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Which Web browsers can I use to access this Net site? |
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We currently accept Microsoft Internet Explorer 4.01 or higher.
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How do I get the most out of this site? |
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We have a couple of suggestions. Check your options on your Web browser and make sure your browser is Java or JavaScript is enabled. For speed purposes you can disable the cookie feature on your browser and use a modem that connects at 28.8 KBPS or higher.
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My application is either blank after I register for your service, or is failing to open. What should I do? |
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This is generally caused by a corrupt installation of Acrobat Reader, and / or additional installation of Adobe products. User must 'un-install' Adobe Acrobat Reader and re-install it. This will fix the problem. You may also be running an outdated version of Adobe Acrobat Reader. We suggest that you install version 5.0 by clicking here.
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Can I open an account even if I am a resident of a foreign country? |
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For most countries, the answer to this question is "Yes". You will, however, be required to fill out a W-8 form if you are a foreign resident. This form will be mailed to you in the new account package if you select "foreign resident" during the registration process. Payment for trades can be accepted only in U.S. funds, and we require these cleared funds to reside in your account prior to placing trades. Please note that at this point in time we are unable to accept accounts from residents of Canada* or the following countries:
-Afghanistan
-Angola
-Burma (sometimes referred to as Myanmar)
-Cuba
-Iran
-Iraq
-Libya
-Nauru
-North Korea
-Sudan
-Syria
-Zimbabwe
*If you are a Canadian resident, the securities laws of Canada apply. TradePortal Securities, Inc. is not registered as a broker / dealer in Canada and therefore may not accept accounts with Canadian addresses. If, however, you are a Canadian citizen who resides outside of Canada (and any of the countries identified above), we would be happy to accept your account application.
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How do I transfer other securities and cash balances to an account? |
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If you are transferring funds and / or securities from another firm altogether, you will need to request a transfer form which must be filled out, signed, and sent back to us for processing. The account transfer normally takes three weeks to complete from the time we receive your paperwork. (Make sure to include a copy of your most recent statement for the account at the firm you are transferring from.)
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When can I get real-time quotes and how much will they cost? |
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All of the data on our system (quotes, time and sales, charts...) utilize real-time information. This is a base feature of all TradePortal™ products and critical for the active investor. Pricing for these services can be found in the software section of our site.
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I am new to the market, where can I find definitions of financial terms? |
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This site provides a financial and trading glossary to assist individual investors / day-traders in understanding the terms associated with the electronic trading environment. Select Traders' Glossary on our Web site, to view this information.
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Who is your clearing firm? |
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PENSON FINANCIAL SERVICES is licensed in all fifty states and in the District of Columbia, and is a member of the National Association of Securities Dealers, Inc. (NASD) and the Securities Investor Protection Corporation (SIPC). All transactions are executed by TradePortal Securities, Inc. Members NASD / SIPC.
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Is there any account protection? |
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Customer accounts carried by Penson Financial Services are covered by the Securities Investor Protection Corporation (SIPC). SIPC protects securities customers of its members up to $500,000 (including $100,000 for claims for cash). An explanatory brochure is available upon request or at www.sipc.org. In addition, Penson Financial has supplemental protection of $24,500,000 including $900,000 maximum claim on cash, purchased through the Lloyds of London. SIPC and supplemental coverage do not protect against market loss or remove market risk.
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Where do I send my initial deposit? |
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Once you have completed and signed all of the account request forms, we will send you an account name and number from PENSON FINANCIAL SERVICES. At this time, you can mail your check or wire transfer the initial deposit, made payable to PENSON FINANCIAL SERVICES :
JP Morgan Chase Bank
(888) 382-2721
4 New York Plaza
NY, 10004
ABA#: 021-000-021
For Account of: PENSON FINANCIAL SERVICES
Acct#: 066-6-00030
For Further Credit
Customer name & Account Number
Please remember to write your account name and number on the memo line of your check.
(Only personal checks will be accepted. TradePortal and Penson Financial can not accept chashiers checks or money orders.)
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Do we accept wire transfer (of funds) for your accounts? |
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TradePortal itself does not accept any funds. All funds and or securities are to be sent to PENSON FINANCIAL SERVICES and yes, they accept wire transfers.
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Can I trade options? |
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Yes, qualified individuals may purchase equity options. Please note that certain prerequisites exist for establishing an option trading account with TradePortal, including your acknowledgement that you have reviewed the Options Clearing Corporation's publication entitled "Characteristics and Risks of Standardized Options" (available at http://www.optionsclearing.com/publications/risks/riskchap1.jsp) as well as your acceptance of the responsibility to monitor corporate actions (stock splits, name changes, etc.) for the resulting affect on your option contracts (updated information available at www.optionsclearing.com/market/info_memos.jsp ).
For additional options information and education, please visit our 'Learn about Options' page, at Education >> Learn about Options.
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Can I trade commodities / futures / bonds contracts? |
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No, at this time our efforts are focused on providing the best real-time equity and option Internet trading service possible. We promise to continually examine the family of services. Please check our site regularly.
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Do you offer mutual funds? |
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No, at this time our efforts are focused on providing the best real-time equity Internet trading service possible.
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Can I use my Internet account to keep updated on my portfolio during the day? |
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Yes. All our TradePortal Software have a portfolio and position watch feature integrated into the software to assist you in monitoring the activity in your account. In addition to your trading software, clients can check the status of their accounts and portfolio through their personal home page at www.tradeportalsecurities.com.
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How do you notify clients of trade executions? |
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Once the trade has been completed, you will receive virtually instant confirmation via TradePortal software order execution screen. Any phone order will be confirmed over the phone (during the same initial call). In either case, the trades will be confirmed in hard copy through the mail by PENSON FINANCIAL SERVICES (client may also elect to access their trade confirmations on the Internet.)
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Is there a registration fee or annual fee for members? |
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The fee structure is dependent upon your particular desired level of service. A complete listing of the services and fees can be found by going to our 'Trading Fees' page on the Web site.
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When can I start placing orders? |
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Once the account has been opened and the funds have been received, your account will be activated and you will be able to place an order.
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How long does it take to activate / open an account? |
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It depends on how quickly information is sent in. The registration process usually takes between one and two business days once we have received your completed account documents.
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What is the minimum amount required for opening an account? |
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Minimal account size is dependent upon the category of account desired. For complete minimum requirements, please see our 'Account Requirements' page.
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How long does it take to complete a normal order? |
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Under 'normal conditions' orders are completed and confirmed within a few seconds but it is important to understand that the time to complete an order will vary depending upon market conditions, type of order being placed, order size, and method of execution (to name a few of the factors).
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Can I do simultaneous orders of different stocks? |
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Yes, as long as the sum of the orders remains within the margin requirements of your account.
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Where are the proceeds from stock transactions deposited and how are those funds accessed? |
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All proceeds will remain in your account until you request a transfer. Transfers are completed via funds transfer form which, when completed and processed by PENSON FINANCIAL SERVICES, will make the funds available via check or wire transfer.
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Do I have access to a checking account? |
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Yes. Clients may elect to entitle their account for direct access check writing against available account equity. Please contact our Customer Support Department at 1-888-487-2227 for additional information and an application form.
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Do you offer NYSE executions or just third market? |
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Yes, orders for securities listed on the NYSE and AMEX exchanges are routed directly to the specialist on the exchange floor via the Super Dot System for execution in what is called an 'auction market'. (Many listed issues, however, may also be traded using ECN's).
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What are the market hours? |
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The traditional market hours are 9:30 AM to 4:00 PM EST. In addition to the traditional hours, TradePortal offers you the ability to trade pre-market and after-market using the Island and Archipelago ECN's beginning at 8:00 AM EST until 7:00 PM EST, 5:00 AM PST - 4:00 PM PST. You can also place orders via SelectNet beginning at 9:00 AM EST until 6:30 PM EST, 6:00 AM PST until 3:30 PM PST to broadcast orders or preference specific market makers or other ECN's such as Instinet (INCA), REDI, ATTN, etc.
Participation pre and after market is voluntary for market makers using Selectnet. Please note that trading outside the traditional market hours typically provides a lower degree of activity / liquidity and therefore may involve additional risk.
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What do I do if I can't get to my computer to place a trade? |
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Call the TradePortal Trading Desk at 1-888-567-2227 or 1-949-585-1021. The trading hours are 5:00 AM to 4:00 PM PST. Please have your account name and number ready. (We charge $29.95 for this type of trade in a non-emergency situation).
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Are FAX transmissions acceptable? |
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On an exception basis, fax transmissions may be accepted for any new account or margin account applications, as long as the original documents are subsequently mailed to our offices. Please note that at no time will a fax be accepted to request specific security transactions. A fax is acceptable for an account or funds transfer request.
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Is there help available to understand the trading system? |
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Yes, our trading system is equipped with a detailed 'Help' file. In addition, our readily available, trained staff of Customer Support Representatives can assist you in this regard.
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Q. |
What if I initiate service in mid-month? |
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The software fees are prorated from the date you start your service. Unfortunately, exchange fees are fixed monthly fees, irrespective of what time of the month service is initiated. What this means is that whether you initiate or upgrade your service on the 2nd of the month or the 30th, you are required to pay the applicable exchange fees for that entire month.
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How do I pay for my trades and / or data? |
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All trade fees are deducted automatically from your brokerage account. You will receive a daily report from PENSON FINANCIAL SERVICES that will detail each transaction fee. The base monthly fees (for software, exchange fees, and other services) can be deducted directly from your account, paid by check, or credit card. Please refer to our schedule of fees that detail the trade fees as well as any exchange fees that might be associated with your trades.
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What is a margin account? |
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A margin account is an account that allows you to borrow money against the net equity of your account for the transaction of specific securities. The extension of credit in a margin account and the interest associated with such credit is governed by the terms in the Margin Account Agreement. Should you have any questions, please e-mail us or call customer support at 1-888-487-2227 for more details.
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What types of securities are marginable? |
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Any stock trading under $5 per share is not marginable; this is a rule set down by PENSON FINANCIAL SERVICES. However, most stocks are marginable. All marginable stocks require an initial margin of 50% of the total purchase or short-sale price. Please read the Margin Account Agreement carefully for a complete description of your margin account.
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How does a margin account work? |
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Once you have opened a margin account, you don't have to put in any special orders to trade on margin. If you have a margin account and place an order that exceeds the amount of cash you have (and assuming the value of the order is within your margin buying power), the order will automatically go on margin. To pay back a margin loan, you must deposit cash or securities into your account or you must sell securities in the account.
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What is the margin loan rate and how is it calculated? |
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The annual rate of interest, which is charged on the average daily debit balance (the amount you have borrowed), is calculated by a formula based on our clearing corporations base rate. The base rate is set with reference to commercially recognized interest rates, industry conditions regarding the extension of margin credit, and general credit conditions. The annual rate of interest is subject to change without prior notice.
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What is 'buying power' and how is it calculated? |
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Buying power is the amount of marginable securities you may purchase without adding additional equity to your margin account. Buying power is calculated based on the equity in your margin account and the initial margin required for the securities in question. Equity does not necessarily mean cash. Equity may also consist of securities in your margin accounts that are fully paid. Keep in mind that as you use your 'buying power', you are actually borrowing money to purchase marginable securities.
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Is there a time limitation for my access to the market data? |
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Historical data is available 24 hours a day. Unlimited real time data is accessible only during market hours.
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Why must I fill out an exchange application to receive real time data? |
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The exchanges mandate that individuals seeking real time data, fill in and sign specific forms for their (the exchanges') approval. You will need to fill in, sign, and mail back these forms to us for submission to the exchange authorities. If you are a professional trader please contact us and we'll send you the appropriate forms.
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What are my minimum system requirements? |
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See the 'System Requirements' section under the link Software.
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What is an ISP and why should it matter which service provider I use? |
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A very important part of the quality of your connection to us will depend on your Internet Service Provider or ISP. Your choice of ISP should be made very carefully. There are probably many local providers in your area. The determining factors should be how quickly you get connected during peak times and consistency of service. We recommend those ISPs that own and maintain a portion of the Internet backbone for the best and most reliable service. In particular, we recommend UUNET, Earthlink, Sprint, and MCI.
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Why can't I access your WWW pages from my office? |
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Make sure that you are not behind a firewall. (A firewall is a software program that acts as a security filter.) Some people accessing the Internet from a place of business may experience difficulties with connecting because they are behind a firewall. Your place of business may have certain restrictions as to which WWW addresses (URLs) are accessible. If this is the case, your systems administrator may be able to help you with a connection.
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Who can I e-mail with all my questions? |
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If you require further assistance, e-mail us or call 1-888-487-2227 and our Customer Support Representative will answer your questions.
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Q. |
I've read a lot about Internet brokers having problems when the market is busy. What makes you different? |
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Our servers (where our data is stored and accessed) are housed in two distinct and separate electronic / physical areas. Trading, live data, and delayed information are separated so there isn't one large clog of information flow. If you have problems connecting to our servers through your ISP (Internet Service Provider), call our Customer Support Staff.
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Q. |
What are the most important decisions I must consider in selecting my day trading company? |
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The first thing day traders everywhere need is stability. This includes the performance and reliability of both the software and the hardware that drive the execution of the trades. It also must incorporate the method and monitoring of the way traders are connected to the quote delivery and execution systems. To date most companies employ tower type workstation computers to handle their lower level tasks, such as the actual execution of trades over the NASDAQ, NYSE, SOES, Select Net, Island, etc. lines. This is a less costly method of serving the customer and the argument is that this element of the trade does not require the full power of a more expensive server. The problem with this model is that the vital services that run these executions can only be monitored on a true server configured platform.
TradePortal only uses true rack-mounted servers for every component of trader support. Every connection that a trader experiences through our Portal is conducted over a heavy duty Compaq rack mounted server. Every requirement from our vendors has been at least doubled and in most instances tripled, with respect to hard drive capacity, RAM requirements, and processor speed. We have spared no expense in bringing the best support technologies to our customers.
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How can I know that my connection is the best available? |
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TradePortal has deployed the advanced network monitoring tools featured by Network Health. Our association with Concord Communications includes us among 70% of the nations Fortune 1,000 companies that use this state-of-the-art Internet suite of tools. TradePortal is able to monitor the bandwidth connections of our customers and determine latency and contention issues from our central monitoring station. TradePortal clients will soon be able to access their own personal reports from a personal Portal page to see the results of their connection to the TradePortal for themselves.
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What happens if there is a power failure with your local utility company and I am in a trade? |
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TradePortal Power Management
TradePortal has incorporated the most durable high end Uninterruptible Power Source available in the Market Place. Leibert Corporation provides true UPS systems for clients worldwide, and now TradePortal. Our UPS Station System will provide nine hours of back up power, so that our customers will never have an interruption in their connection at their Portal due to a local power failure. Liebert Corporation has also installed a surge suppression device, Accuvar 60 HZ, to insure there are no static discharges to our servers when technicians work on our expansive proprietary server farm. Cable management is an added premium with the use of this extraordinary and expensive computer support flooring.
Power Failure Contingency Notice
TradePortal has taken the aforementioned extensive proactive steps to avoid any interruption in our services in event that our Irvine, California facility was to experience a power outage. In the unlikely event that our customers were to experience any difficulty transmitting order requests, they are hereby directed to contact our emergency trading line by calling (888) 567-2227. Please contact our IT Department at (888) 839-2227 for additional details. Also refer our Business Continuity Plan for further details.
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How am I connected to you over the Internet? And why is redundancy important to me as a trader? |
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Sprint Communications has established multiple T-1 lines at TradePortal. Redundant T-1 lines are provided by MFS, a subsidiary of MCI WorldCom. Your Portal connections also include tertiary back up quote feed provided by Hughes Satellite Company. The purpose of redundant systems is to insure the quality of your experience while trading on-line or on the floor. In the event that a hard line T-1 connection to the quote feed vendor is disabled, a dynamic IP addressing scheme takes over and seamlessly carries your connection over to a satellite back up data feed. Our traders will never notice the transition. Still, this was not good enough for our higher standards of Operation Policy. In order to take service to the next level, TradePortal has installed a completely separate data feed for your protection. This added measure of back up now provides our customers with two different sources of data for continual quote feed.
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Q. |
Do I have to know anything about the stock market? |
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Though prior knowledge and / or experience is not absolutely required, it is imperative that you understand that active investing does have high risk (please refer to our 'Risk Disclosure' section) and you must determine if this type of an investment strategy is consistent with your investment objectives.
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Q. |
How is this different from dealing with my online broker? |
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When using TradePortal Software you are in control of how the order is entered. This Windows based point and click program gives traders access to NASDAQ Level II screens so that when they are ready to execute a trade, they can view real-time market activity. A single keystroke or click of a mouse enters a buy or sell order. This is combined with market data software to provide real-time charting and technical studies designed to improve the day trader's level of success. When the order has been completed you will receive instantaneous confirmation of your trade. All securities transactions are offered by TradePortal Securities, Inc. a NASD and SIPC member firm.
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Q. |
Can just any brokerage firm provide these services? |
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Yes, but most will not. Providing you with pricing information and faster access to the markets goes against their core business. In addition, most firms that do provide electronic trading services do not provide their clients with quality, on going, training and support.
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Can I trade part time? |
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Yes. You decide how many orders you would like to make and the amount of time you want to spend in the market. You might start out part-time and decide later on that this might be the start of a new career.
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Q. |
What types of orders does the TradePortal software accept? |
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With The TradePortal software you can place market and limit and certain types of 'stop' orders. During regular market hours, you can place day stop loss orders as well as trailing stop orders for Listed, (NYSE & AMEX via SuperDOT), NASDAQ and Small-cap securities right on your trading software! Please note, however, that we recommend that our clients exercise additional caution in using trailing stop orders when using 'Auto Stops' for listed securities, and we strongly advise clients to cancel all open 'day' orders prior to the market close. For those wishing to utilize Good-till-Cancel orders, for listed securities only you can place STOP & STOP LIMIT GTC (Good-till-Cancel) orders over the telephone to our professionally staffed trading desk (telephonic order fee rates apply, please see our Trading Fees section for details).
For complete information, call our Customer Support Team @ 888-487-2227.
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Can I "short" stocks using your system? |
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Yes, as long as you adhere to a few simple rules. The securities must be borrowable (the list of stocks is integrated within the software). In addition, the sale must be made on an uptick (or zero plus tick). Please refer to the glossary and or training sections for further definitions and a more extensive explanation of the rules.
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Why should I place my orders using one of the TradePortal™ trading products? |
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Convenience and speed. Our TradePortal™ products are your one-stop online trading resource. You can have access to analytical services, do your own research and data gathering, get real-time quotes, and enter stock orders, all from a single convenient site.
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Q. |
How is TradePortal, Inc. regulated? |
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A. |
TradePortal Securities, Inc. is a fully regulated securities broker / dealer and an NASD and SIPC member firm.
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Q. |
How can I contact your company for information or to have my questions answered? |
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The TradePortal web site offers extensive information and resources for our customers. Please review this FAQ (Frequently Asked Questions) section first. The chances are that somebody else has already asked many of your questions, and the answers are provided here for your convenience.
TradePortal callers can reach us by calling (888) 839-2227. Here your phone call is received through the new Inter-Tel Axxess phone system. The system uses ACD hunt group technology to bring you to the front of our offices, and in most cases a live person will greet you immediately. In the event we are experiencing high call volume, our automated Caller On Hold feature displays to our customer support representative the amount of time you have been waiting. This allows the first person available know to respond to your call with urgency. We also offer (888) 567-2227 for traders who need instant access to transaction executions. Please do not use this line unless you need to speak with a registered representative about a live trade.
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Q. |
Who can I contact if I have a concern with my account that has not been handled to my satisfaction? |
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At TradePortal, client satisfaction is paramount. If, however, in the unlikely event that you have a concern regarding your account, your first level of contact should be the Customer Support Department at 888-487-2227, or via E-mail at customersupport@tradeportal.com. If your concern is not resolved to your satisfaction, please contact our Compliance Department via E-mail at legal@tradeportal.com, or by calling the number above. In the event that you feel that external regulatory intervention is required in reference to your concerns, you may contact the 'National Association of Securities Dealers (NASD)' through their web site at http://www.nasd.com/stellent/idcplg?IdcService=SS_GET_PAGE&nodeId=453.
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