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ARE
MY TRADING ACCOUNT FUNDS TRACKED & SECURE? |
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YES.
All sub-contractor account deposits are completed
via secure, traceable bank wires to US-based banks
utilized by our affiliate private capital groups. For complete
details regarding sub-contractor account protection,
please check out our
Client Security Center.
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WHAT ARE
THE DIFFERENCES BETWEEN SUB-CONTRACTOR ACCOUNTS AND
ONLINE TRADING ACCOUNTS? |
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Sub-contractor accounts differ in several ways from
either of the above online account types. When
you open a sub-contractor account, you are actually
working as an independent contractor for one of our
affiliate private capital firms. These firms
are private, non-licensed organizations and thus do
not require you to maintain any securities
licensing. Your capital is deposited with
these firms and then journaled into a trading
account owned by the private capital groups.
However, unlike retail accounts, you are in essence
using supplemental capital provided by the capital
group's to leverage your own equity and receive full
daytrading permissions and a minimum of 10:1
equivalent intraday leverage and 4:1 overnight
leverage for trading of all marginable NYSE, NASDAQ,
and AMEX stocks and are able to open an account with
as little as $5,000.
For
more details on the comparisons and advantages of
sub-contractor trading v.s. standard online trading,
please
click here or
contact a WTC client representative at
1-866-473-5069. |
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HOW DO I RECEIVE SUCH A HIGH AMOUNT OF LEVERAGE WITH
MY SUB-CONTRACTOR ACCOUNT? |
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Sub-contractor trading accounts use a combination of
trader equity and supplemental capital provided by
our affiliate private capital firms to increase base
capital to a level that equals 25% of the total
required intraday buying power required by the
trader.
For
example; If a trader deposits $10,000 into his/her
sub-contractor account and requests a total of
$150,000 of intraday buying power, the total base
equity in the account must equal 25% of the total
buying power, which in this case equals = $37,500.
Since the trader is providing $10,000 of their own
capital, to reach the $37,500 amount, they will
require $27,500 of supplemental capital from the
private capital group.
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Buying Power Required: |
$150,000 |
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25%
Margin Maintenance Requirement: |
$37,500 (25% of Buying Power) |
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Trader Deposit: |
$10,000 |
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Supplemental Firm Capital: |
$27,500 |
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Total Account Equity: |
$37,500 |
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Trader
capital is held in the sub-contractor account as
"risk capital" just as it would be with a normal
online trading account and traders are only
responsible for losses equal to, but not greater
than the amount of capital they have in their
account.
Click here for more details
and examples of leverage and buying power
calculations. |
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DO I HAVE TO BE LICENSED TO OPEN A SUB-CONTRACTOR
ACCOUNT? |
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NO.
Sub-contractor accounts utilize limited trading
authorizations to enable both licensed and
non-licensed individuals to trade on accounts.
If you are licensed and would like to maintain your
licensing by trading directly via one of the
registered broker dealers used by our private
capital affiliates, please contact a WTC
representative at 866.473.5069 or email us at
info@worldwidetradingcapital.com. |
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I AM AN INTERNATIONAL RESIDENT...CAN I OPEN A
SUB-CONTRACTOR ACCOUNT? |
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YES.
WTC and our affiliate private capital groups welcome
clients from all over the world. Thanks to the
power of the Internet and
Direct Access Technology,
traders are able to access the U.S. equities markets
from virtually anywhere in the world with the click
of a mouse.
International clients are required to provide a
current copy of their passport along with standard
account documentation and can
fund accounts via
international wire transfers. To open a
sub-contractor account from outside the United
States, please complete an
international sub-contractor
application or chat live with a client
representative to find out more details. |
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WHAT IS THE MINIMUM DEPOSIT REQUIRED TO OPEN AN
ACCOUNT? |
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Sub-contractor accounts require clients to deposit a
minimum of $5,000. Restrictions are placed on account trading should
the equity balance fall to an amount of $2,000 or
lower. Please review our
Deposits section for complete funding
details. |
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CAN I CONTINUE USING MY CURRENT TRADING PLATFORM FOR
EXECUTION & ANALYSIS? |
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Currently,
WTC works with Realtick and InstaQuote to offer
sub-contracted trading with the ability to execute
trades via level II direct access technology.
If you are currently using a direct access platform
such as eSignal or TradeStation for analytics and/or
execution, you can continue using your system to
conduct market analysis, but must execute using one
of the platforms currently listed in our
Trading Software section.
*WTC and
our affiliates are constantly striving to add
valuable technology and services for our clients.
If you are using a trading platform and would like
to add it to our available systems, please email
support@worldwidetradingcapital.com or
contact a business development representative at
866.473.5069.. |
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WHEN I NEED TO MAKE A WITHDRAWAL, HOW QUICKLY CAN I
ACCESS MY FUNDS? |
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Trading
funds are available immediately pending any
outstanding trade settlements. Funds are
available for withdrawal via bank wire transfer or
check request.
Click here for complete
details and instructions for requesting funds from
your sub-contractor account. |
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WHAT FEES
ARE INVOLVED WITH OPENING AND MAINTAINING A
SUB-CONTRACTOR ACCOUNT? |
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Please
refer to the following information pertaining to
account and service fees for sub-contractor accounts
or checkout our
Fees Section: |
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Monthly Leverage Fee Schedule |
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Monthly capital fees
are based on a monthly rate of 1% to 1.5% of supplemental firm
equity. All capital fees are debited from sub-contractor
accounts within 5 business days by the affiliate private
capital groups.
*Please refer to the following schedule to determine monthly
leverage fees: |
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Trader Equity Deposit |
Monthly Leverage Fees |
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$5,000 - $10,000 |
$150 to
$225 |
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$10,000 - $15,000 |
$225 to
$337 |
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$15,000 - $20,000 |
$337 to
$450 |
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$20,000 - $25,000 |
$450 to
$563 |
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$25,000 - $50,000 |
$563 to
$1125 |
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$50,000 + |
Negotiable |
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*Pre-set leverage
rates are based on standard twenty-five margin requirements
for all intraday trading of marginable equities on the NYSE,
NASDAQ, and AMEX exchanges. Additional charges may apply
for increases in trader multipliers. |
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*Account
commissions and ECN fees are assessed by the capital
firm's selected registered broker-dealers.
Neither WTC, nor our affiliate private capital
groups receive commission or ECN revenues generated
from sub-contractor accounts. |
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HOW DO I RECEIVE TRADE SUPPORT ONCE I BEGIN TRADING? |
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Once
sub-contractor account setup is complete and live
trading permissions have been authorized, traders
will receive full trade support from the designated
broker-dealer representatives as selected by our
affiliate private capital groups. Every
broker-dealer utilized for execution of
sub-contractor activity provides dedicated
specialists to assist with trade execution and
software support. Complete broker contact
details are provided in sub-contractor account
documentation. |
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AM I
RESPONSIBLE FOR ANY LOSSES THAT EXCEED MY EQUITY
BALANCE? |
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NO.
Our affiliate private capital firms utilize
sophisticated risk management technology to monitor
all trading activity for sub-contractor accounts.
These programs provide our dedicated risk management
team with the capability to implement
"auto-liquidation" on an account which closes out
all positions prior to the market close should an
account fall to a balance of $2,000 or lower.
Additionally, overnight positions are limited to 4:1
leverage and reviewed according to issue liquidity
and account allocation percentages. Traders
are responsible only for the equity or risk capital
they provide for their sub-contractor accounts and
should an account go into the red, our affiliate
capital groups assume responsibility.
Prior
to live trading, clients are required to complete a
full Risk Profile form and provide contact details
including an Instant Messaging ID.
Click here for more details on opening a
sub-contractor account or contact a client
representative at 1.866.473.5069. |
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WHAT IS THE FASTEST WAY TO OPEN A SUB-CONTRACTOR
ACCOUNT? |
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The
quickest way to open a sub-contractor trading
account is by completing an online application at
the following link,
http://www.worldwidetradingcapital.com/gettingstarted.asp.
Applications are typically processed within one
business day and accounts can be set up in as little
as two business days with our expedite services.
Applications can also be printed and faxed to us at
1.866.611.0913.
Click here to access a
printable version of the sub-contractor application
in PDF format. |
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ARE THERE ANY RESTRICTIONS ON THE NUMBER OF TRADES I
CAN MAKE IN A WEEK? |
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NO.
All sub-contractor accounts qualify as "pattern day
trading" accounts and as a result do not impose any
restrictions on the number of trades you may place
in a week. Conversely, sub-contractor accounts
do not impose any minimum monthly trading activity. |
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HAVE MORE
QUESTIONS OR NEED ADDITIONAL HELP? |
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Feel free to
contact a WTC representative seven days a week for
assistance. |
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Call us
toll-free at 1-866-473-5069
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E-mail us
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Send a fax to
1-866-611-0913
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Chat with a
representative via Live Support.
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