To create a new Folio:
To trade within an existing Folio:
Follow these steps to close a Folio:
You can trade almost all securities listed on the major U.S. equity exchanges and more than 1,000 mutual funds and ETFs. We also offer exchange-listed Fixed Income ETFs and many Closed-end Bond Funds, as well as a series of unique FDIC Insured Cash Investment Products (FDIC.Sweep, FDIC.CASH and FDIC.PLUS)
We do not currently offer foreign listed securities, Over The Counter (OTC), Pink Sheet, Bulletin Board or Fixed Income securities, nor do we offer options or foreign currency trading.
We do not currently offer margin accounts.
We provide market data and research through QuoteMedia. QuoteMedia provides charts, company financials, company news, filings, earnings information, etc., all of which can be found on our Market Research page. The quote data displayed by QuoteMedia is delayed 15 minutes unless otherwise indicated
Before you invest a client in a mutual fund, we recommend that you carefully read the mutual fund’s prospectus for details on the fund’s objectives, strategies, management fees and other expenses.
To find mutual fund prospectuses:
On the effective date of the split, the newly adjusted share price and number of shares will be displayed on your client’s Holdings page. However, please be aware that the Day’s Gain value will not be updated until the following business day.
When a company declares a dividend, it sets a record date, which is the date by which your client must be and owner of the company’s stock in order to receive a dividend payment.
You can view estimated gains and losses as you are placing a trade for a client (in a taxable account) on the Preview Order page. Select the Tax Lot Details button to see estimated short and long-term capital gains for each security.
Note: Open tax lots may not accurately estimate unrealized gains or losses due to the 20 minute delays in price reporting and the fact that an actual transaction has not yet occurred.
Take the following steps to verify the cancellation of an order:
Your success in canceling an order varies depending on whether you’ve placed a window trade or a direct trade.
If your order was successfully cancelled, the Order Status page will show the word “Cancelled” next to the order number, or you receive an email from us stating that the order was cancelled. If you are watching the Order Status page to see if the cancellation worked, be sure to hit the Refresh button periodically on your Internet browser so that cancellation information will show up on your page.
Follow these steps to cancel or modify an order:
Custodial accounts are opened for the benefit of a minor. The account is opened in the minor’s name and social security number, but a custodian manages the account for the minor’s benefit. UGMA/UTMA accounts are held in trust until the minor reaches the age of majority.
Custodial accounts are create in compliance with the Uniform Gifts to Minors Act (UGMA) or Uniform Transfer to Minors Act (UTMA), depending on the legal state of residence.
An order routing report displays the market center your orders were routed to for execution. A market center can be a market maker, which is a company that buys and sells securities from its inventory, or an exchange, such as the New York Stock Exchange. The market center we list is the initial market center we routed an order to. It may not be the actual center that executed the order. For example, we may send an order to a market maker who then sends it to an exchange to be executed.
If any of your window orders were matched with another customer’s orders, they will not be displayed in your order routing report. Those trades are executed internally, between the bid and ask price, which gives you better prices on your buys and sells.
An order routing report does not list execution information, such as the price or time of your execution.
The following information will be displayed for each security:
At the request of many clients, FOLIOfn’s expanded mutual fund universe now includes funds that may impose a redemption fee on certain transactions. A redemption fee is charged when an investor buys a mutual fund and then sells all or part of their shares before a specified period of time, usually ranging from 30 or 90 days, but sometimes longer.
Typically, fund companies impose redemption fees to discourage market timers or other active traders from moving in and out of a fund to the possible detriment of long-term shareholders. FOLIOfn does not benefit if a redemption fee is charged. Redemption fees are generally credited back into the fund, benefiting those remaining fund holders.
Redemption fees vary in amount, but usually range from 0.5% to 2% of the amount being sold that is subject to the redemption fee. For example, on February 1st, an investor buys $5000 of Fund A, which carries a 1%, 90-day redemption fee. On March 1st , $3000 of Fund A is sold,and on December 1st, an additional $2000 of the same fund is sold. The March 1st sale is subject to the 1% redemption fee, as it was sold prior to the 90-day redemption period for the fund. However, the December sale is not subject to a redemption fee. In this example, the sale on March 1st, is charged a redemption fee of $30 (1% of $3,000). Normally, the $30 redemption fee will be subtracted from the client’s sales proceeds.
The trade total displays the number of securities you have traded through a window so far this month. It does not include the current order since those trades have not yet been executed.
In the extraordinarily unlikely event that you have one or a combination of trading strategies where the total number of securities you trade in windows exceeds the incredibly high threshold of 2,000 in a calendar month we will charge a fifty cent ($0.50) fee for each additional security trade in a trading window over 2,000 in a calendar month which is more than most customers need or want.
We display the total number of security trades to remind that you are close to exceeding the high threshold for a calendar month.
Most U.S. listed stocks, ADRs and ETFs are available in trading windows.
We do not support most Pink Sheet, Bulletin Board or debt securities.
The trade total displays the number of direct trades that have been executed in your account so far this month. It does not include the current order since it has not yet been executed.
Depending on your pricing plan, you may receive a specified number of commission-free or reduced-fee direct trades each month. After you have placed this number of trades, you will be charged the regular commission amount. We display the trade total so you will be reminded if you are approaching your commission-free or reduced-fee trade limit for the month.
Privately held securities are not traded on open markets such as NYSE or NASDAQ. There may be extra charges imposed for processing non-window transactions, transfers or corporate actions for these securities. Please note that values shown for such securities will be displayed as either the last price we were provided or N/A and will not reflect a current or reliable value because these securities may not be priced regularly or the 3rd party pricing sources we use may not have updated the price.
Please be advised that there are risks associated with the trading of low price or low volume securities, including but not limited to wide variance of execution price, delay in execution, and the possibility of partial or no execution. As a result of these risks, you may lose part or all of your investment.
In addition, there may be a delay in posting securities executions to any account with open orders for low price or low volume securities. By placing orders for low price or low volume securities, you assume responsibility for the above risks and acknowledge that FOLIOfn is not responsible for any losses or liabilities that may occur as a result of these risks.
An Automatic Buy/Sell allows you to buy or sell a specific amount in a client’s Folio on a specific day of each month.
If your client does not have enough unallocated cash in his or her account on the day that a Buy Order is scheduled to be created we will skip the request for that specific month. On the other hand, if he or she does not have enough securities in the Folio for the Sell Order we will process the order as a Sell All order.
To create an Automatic Buy/Sell for a client’s Folio: