| Q: |
When should I open a trading account? |
| A: |
You should establish your trading account as soon as you
are confident that you are going to trade profitably, but if
you wait until you are ready to trade a particular market before
starting the process, chances are you will not be ready to
trade that market in time.
Remember you are opening a segregated bank account - allowing
you to trade but not obligating you to trade. Thus, it is your
money and any excess (money not involved in a trade) can be sent
with in 24 hours of your request. |
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|
| Q: |
I am married but my spouse is not interested in trading;
do we really need to open a joint account? |
| A: |
You normally only need to open a joint account if all parties
on the account will be active in the trading decisions. |
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|
| Q: |
I am opening a joint account with my wife; can I fund the
account with a check from our family trust? |
| A: |
The check you send should come from a joint account with
you and your wife, in your personal names. Otherwise, delays
will result. |
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|
| Q: |
I am opening a personal account; can I fund the account with
a check from a joint account with my spouse? |
| A: |
The check you send should come from an individual account
if you are opening an individual account. Otherwise, delays
will result. |
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|
| Q: |
I plan on opening a trust account; can I fund it with personal
funds? |
| A: |
You may fund the account with a check drawn from the trust's
account, but if using personal funds, you should send a cashier's
check, money order or bank wire. |
