v Funding v Withdrawal v Deposit Insurance v Account Opening Status v Funds Availability v Internet Connection Requirements v Account Transfer to Key West Investments, LLC. v Account Transfer within Key West Investments, LLC. v Interests Earned on Funds v OTC Share Trading
Q1: Funding
1. Wire Transfer:
Make checks payable to: “Wedbush Morgan Securities”
Mark in check memo: FBO (Customer Name)
A/C NO. (Your Account Number) Q2: Fund Withdrawal
A2: Authorized signatory person(s) can request withdrawal by filling out and submitting a Withdrawal Request Form to us. Request will be processed in 1-3 business day upon our receipt.
For Joint Accounts, BOTH account holders must sign the Request Form, and payment will be made payable to BOTH parties’ names.
You can withdraw by check or wire transfer – fees may apply.
Q3: Deposit Insurance
A3: Your account at Key West Investments, LLC is covered by Securities Investor Protection Corporation (SIPC) for $500,000 (total) and $250,000 (cash).
In addition, our clearing firm provides excess coverage for $25,000,000 (total).
These coverages, however, do not protect trading nor market value loss of your securities.
Q4: Account Opening Status
A4: You will be notified via an email from us with instructions on initial online logon and setup.
Q5: Funds Availability
A5: Check deposits generally take 8-10 business days to clear, while wire trasfers will be posted within 2-3 days.
Q6: Internet Connection Requirements
A6: We recommend you have a broadband connection and Microsoft Internet Explorer of Mozilla Firefox Browser for optimal trading experience.
Q7: Account Transfer to Key West Investments, LLC
A7: From another brokerage firm: use Account Transfer Form and attach a copy of the most recent statement.
From a Mutual Fund Company: use Account Transfer Form and attach a copy of the most recent statement. Complete one form for each Mutual Fund Company.
Note: Make sure the account name(s) with Key West Investments, LLC is/are identical to that of the transferring firm.
Q8: Account Transfer within Key West Investments, LLC
A8: Use Internal Transfer Form and clearly identify on the form whether it is a full transfer (“all assets”) or a partial transfer (provide a schedule of assets being transferred).
IRA’s (Individual Retirement Accounts) may have exceptions or restrictions on transfer – inquire with us.
An Internal Transfer Form must be signed by both account holders in a Joint Account. In case of a transfer with a debit balance, signatures are required by both transferor/ transferee account holders.
Q9: Interests Earnings on Cash Balance
A9: Eligible credit cash balance will earn interest which will be calculated based on daily balances and credited to your account on a monthly basis. Rates and policies regarding interests on cash balances are subject to change without notice.
Q10:Trading of OTCBB Stocks
A10: Over-the-counter bulletin board (OTCBB), pink sheets and penny stocks can be bought and sold via the Web, or with a broker over the phone. Before placing an order for an OTCBB security, please review the OTCBB Securities Trading Rules. OTCBB stocks can be very risky and therefore you should take the time to carefully research the company and examine your investment objectives. |
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System response and account access times may vary due to a variety of factors, including trading volumes, market conditions, system performance, and other factors.