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Frequently Asked Questions


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:


Bank of New York 
ABA ROUTING:                 021-000-018
BENEFICIARY:                  Wedbush Morgan Securities

BENEFICIARY ADDRESS:     707 Wilshire Blvd., Los Angeles, CA 90017

A/C NO:                          8540900001
FBO:                              (Your Account Name) 
A/C:                               (Your Account Number)
  


2. Send Checks & Securities to:

    

Accounts Department :

Key West Investments, LLC
33 E Valley Blvd., Ste 201
Alhambra, CA 91801, USA

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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