Knowledge and regulation of the US stock market
[Core Summary: Knowledge and regulations of these U.S. securities markets must be known and understood because of the tax issues involved. Today, especially when trading for yourself, you have to control the risks of taxation. The United States is a well-established country with very strict rules to prevent money laundering, so don't worry. How can I avoid Wash-Sale? 1. Send an email to your local dealer about “Get in first out.” It usually takes 5-7 working days. 2. How to avoid high and low selling when trading, how do you need to make a roll-action trade if you have already bought high? Whether you have the ability to trade with rolling operations is one of the important benchmarks for top-level professional traders. It is an essential tool for professional traders in times of extreme difficulty and is equipped with customized production The key to Ben's ability is. When the average holding price falls, the market value of your holdings exceeds the total cost of holding. If you no longer want to hold it and intend to sell it, you are no longer subject to Wash-Sale. The part of Wash-Sale damage is not tax-deductible, but also subject to a washing transaction tax, with a tax rate of 30-37% or more. The Wash-Sale calculation of your trading profit rules is special and different from our usual profit concepts and beliefs. Some are complex, and those who encounter this situation for the first time are often more difficult to accept, and the broken part will have to be partially offset for the next year. In the West, especially in the United States, the tax issue is no small matter. It is no small matter to raise a reputation, imprisonment, or even family estrangement. If you haven't encountered this type of problem before, explain that your trades are small or that you don't understand the rules of U.S. financial markets at all. Some shareholders do not learn to learn, but still dare to rant under my post. I really don't know what these shareholders are thinking, what was the original idea of coming to the US financial market?] What is a wash transaction? The U.S. Internal Revenue Service (IRS) has established the Wash-Sale rule to prohibit sellers of securities and their spouses from accounting for losses on the same securities purchased during the laundering transaction. The “wash trading period” is defined as 30 days before and 30 days after the date of sale, for a total of 61 days (including the day of the sale). If the account holder purchases the same securities during this period, the amount of their loss will be added to the newly purchased stock or securities. Wash trading is applicable for stock (multihead/overhead) and futures, DRIP, day trading, etc. What is a day off trade? Day-close trading refers to the transaction of buying and selling (or short selling and reselling) the same security on the same trading day. Pre-trade and post-trade trades on the same trading day will also be considered. How is a current breakeven trade calculated? SAME-DAY CLOSING TRADES ARE BASED ON THE OPEN TRADE AND WHETHER THE OPEN TRADE IS CALCULATED ON THE SAME DAY. Please note that positions that have been held overnight before the opening of the same new securities depository are not considered to be day off trades.Please refer to the following example of today's close trading count. SAME-DAY BUMP COUNT EXAMPLE 1: AT THE START OF THE TRADING DAY, THE ACCOUNT HOLDS 0 SHARES OF ABC SHARES. Buy 50 shares ABC (8:00am - 8:00pm) Sell 50 shares ABC (8:00am - 8:00pm) Trading Count: 1 Example 2: At the start of the trading day, the account holds 0 shares of ABC shares. Buy 50 shares ABC (8:00am - 8:00pm) Buy 50 shares ABC (8:00am - 8:00pm) Sell 100 shares ABC (8:00am - 8:00pm) Trading Count: 1 Example 3: At the start of the trading day, the account holds 0 shares of ABC shares. Buy 50 shares ABC (8:00am - 8:00pm) Sell 25 shares ABC (8:00am - 8:00pm) Sell 25 shares ABC (8:00am - 8:00pm) Trading Count: 1 Example 4: At the start of the trading day, the account holds 0 shares of ABC shares. Buy 50 shares ABC (8:00am - 8:00pm) Buy 25 shares ABC (8:00am - 8:00pm) Sell 50 shares ABC (8:00am - 8:00pm) Sell 25 shares ABC (8:00am - 8:00pm) Trading Count: 1 Example 5: At the start of the trading day, the account holds 0 shares of ABC shares. Buy 50 shares ABC (8:00am - 8:00pm) Sell 50 shares ABC (8:00am - 8:00pm) Buy 50 shares ABC (8:00am - 8:00pm) Sell 50 shares ABC (8:00am - 8:00pm) Trading Count: 2 Example 6: At the start of the trading day, the account holds 50 shares of ABC shares. Buy 50 shares ABC (8:00am - 8:00pm) Sell 50 shares ABC (8:00am - 8:00pm) Trading Count: 0 Example 7: At the start of the trading day, the account holds 50 shares of ABC shares. Sell 50 shares ABC (8:00am-8:00pm) Buy 50 shares ABC (8:00am-8:00pm) Sell 50 shares ABC (8:00am-8:00pm) Trade Count: 1 What is Trade Concentration? Concentrated trading means that a trader makes up a large proportion of the total market volume of a stock for a stock, thereby attempting to push the price higher or lower. What are illiquid stocks? If the shares held by investors are not easily traded, they are referred to as illiquid shares. In other words, non-liquid stocks are not easy to find buyers or sellers to trade. Understanding illiquid stocks is essential because they can be traded on exchanges. Holding illiquid stocks means prices may be much lower than expected at the time of liquidation. Trading in non-liquid stocks is more risky due to lack of transparency and regulation. Some illiquid stocks may be traded on exchanges such as Nasdaq. You can also find this type of stock on OTC OTC markets. Common features of illiquid stocks: Non-liquid stocks, including penny stocks: Low trading volume prices often fluctuate widely between bid and ask High risk factors: Limited public disclosure documents for underpriced stock companies. Non-liquid stocks and low-priced stocks are often subject to regulatory scrutiny. A sudden pullback is one of the common phenomena of illiquid stocks.The prices of these stocks are susceptible to manipulation, including predatory practices, which include illegal market fraud. Please invest with caution. What is Wash Trading? Virtual trading refers to the process of buying and selling securities for the purpose of sending misleading information to the market. In some cases, a virtual transaction is a series of transactions between a trader and a broker; however, most involve the trader himself trading securities as both buyer and seller. Under U.S. law, the U.S. Tax Administration prohibits taxpayers from deducting losses caused by virtual transactions from taxable income. What is Cross Trading? Cross Trading is a virtual transaction in two different sending accounts — both buying securities in one account and selling the same securities at exactly the same time at the same time on another account holder's account at exactly the same price. **Please note that both Wash Trading and Cross Trading are not permitted trading operations; they are trading activities on the surface, but real transactions do not occur because there is no change in the mutual benefit of buying and selling. We will usually send an Account Alert Notice and any related Due Diligence Questionnaire upon initial occurrence; continued occurrence may result in account transaction restrictions. What is Free Riding? Free Riding is used to describe the purchase and sale of stocks or other securities for which no actual capital is paid. In a cash account, when an investor sells a stock before the funds needed to buy a stock have not been paid in full, it creates an empty glove trading behavior. The Federal Reserve Board's Regulation T requires broker/brokerage firms to “freeze” accounts for 90 days in respect of empty glove trading. Accounts with this limit can still trade, but cannot buy shares with unsettled funds (shares require two business days to settle). Use a financing account to avoid empty-glove trading. What is a bond? Bonds are debt securities issued by a government (federal, state, or municipal government) or corporate entities. Most bonds provide buyers with a regular, relatively low-risk income, and often attract retirees and those who rely on investments to buy. What is a warrant? A futures contract authorizes the holder to buy (buy rights) or sell (sell) a fixed number of shares (usually 100 shares) at a set price within a specified period of time. It is a derivative investment security because its value is determined by the price of the relevant securities. What is Away Account Spoofing? Away Account Spoofing is a means of manipulating the securities trading market by which traders improve the best buy to sell (NBBO) or increase the number of tradable shares in a broker's account by placing single or multi-pen orders for stocks with significant spreads on a broker's account. These effects are further magnified when other market traders are lured into placing the same order. At the same time as these orders take effect, or shortly after they are cancelled, the same trader in the account of the other broker directly benefits from the order transaction obtained on the improved NBBO and share volume liquidity basis by entering an order on the other end of the same stock. Please note, Away Account Spoofing is an unauthorized trading operation. We usually issue reminders and warnings when they first occur; continued occurrences may result in restricted account transactions. What is a Financing Account? Funding accounts allow you to borrow money to buy securities from Firstrade. The loans in the account are secured by the securities you bought, and you can also trade with your own cash in the finance account. If you do not borrow money from Firstrade or exceed the purchasing power in cash, there will be no additional interest or fees. A finance account allows you to use undeposited funds transactions, thus avoiding any mishandling that may occur in the cash account related to the date of delivery. When you use funds to hold securities, account holders will be required to deposit more cash, more financing securities, or sell some of the securities in order to maintain the minimum margin requirement if the stock value drops significantly. What is a mutual fund? Mutual funds are companies that pool investors' funds to buy and sell securities. Since each mutual fund contains many different types of securities, it is possible to achieve a diversification hedge effect. The funds raised are handled by professionals who buy and sell securities, depending on the investment objectives of this fund. Are there any risks in investing in a mutual fund? While stocks are generally considered to be of low risk, you are still likely to lose money due to the decline in the net asset value of the fund or the purchase fee. How should I set up a recurring investment? The first security can buy mutual funds for you at a predetermined time interval, so you can take advantage of the “average cost method”. If you are interested in setting up a recurring investment, please complete this form and mail it to us. How should I choose the best mutual fund for me? Each mutual fund has a different investment objective, some with a focus on rapid growth, some with a focus on income stability, with bonds and preference shares as a focus, and others with a focus on hedging diversification, investing in stocks, bonds, and their capital markets. With so many options, you are sure to find the fund that best suits your investment needs. What is a public instruction manual? A public disclosure document is a document containing detailed information about a particular mutual fund. It must be made available to shareholders of all open-ended funds and newly issued closed-end funds. What is the difference between a closed-end fund and an open-ended fund? The number of shares issued by closed-end funds is limited and their trading style is similar to stocks. In comparison, open-ended funds are common, where investors can sell or sell shares directly to the fund company at any time. The sale or return of an open-ended fund is determined based on the net asset value (NAV) of the fund.The more buyers of a fund, the higher its net asset value, but the value per share remains unchanged. In turn, because a closed-end fund is traded on the market, it can display a premium or discount based on demand. How much commission is required for a mutual fund to buy securities first? Mutual fund trading is commission-free. If the holding period is less than 90 days, a $19.95 short-term fund withdrawal fee will be charged. The Mutual Assistance Repayment Fund charges $19.95 in commission. A sell-back mutual fund will be charged $19.95 if the total amount of the mutual fund is less than $500, unless the total number of shares held by the mutual fund is less than $500. If a mutual fund is transferred by another securities company to the first security, 90 days will begin the calculation from the date of completion of the transfer. If a mutual fund's income stood out last year, would it still have the same return this year? A mutual fund is not a fixed income product, and the performance of a mutual fund depends on the performance of the funds held by the fund. If the value of the assets contained in the fund decreases, the investment in this mutual fund will also decrease in value. Although the performance of the previous year shows the quality of the fund's performance, it does not guarantee future returns. Please do your mutual fund research before making an investment decision. Can I buy mutual funds with my IRA account? You can purchase any mutual fund from your IRA account. Can a portion of the mutual fund I hold be distributed in cash and the other part reinvested? No way. Each mutual fund you hold must be designated in the system as a cash dividend or a dividend reinvestment. If you make multiple repurchases, the dividend processing method you specified at the time of your last buy-in will affect all of your holdings in this mutual fund. The way capital gains are processed are similarly restricted. What is a cash account? Investors can apply for and trade stocks, ETFs, mutual funds, and more through their cash accounts. However, stock funds traded in a cash account need two trading days to complete the transaction. The word “delivery” means that the securities have been officially transferred to the buyer's account and the funds have officially entered the seller's account.Futures trading only takes one trading day to complete. When using a cash account, investors are required to complete transactions in accordance with the Cash Account Rules. If funds are not fully deposited, investors may receive a Good Faith Violation warning and an account limit of 90 days. Using a finance account can help you avoid similar warnings and restrictions. What is decentralized hedging? YOU CAN ALLOCATE YOUR INVESTMENT FUNDS AMONG DIFFERENT STOCKS TO ACHIEVE THE PURPOSE OF DISPERSING RISK. That way, even if a stock or industry goes haywire, your losses will be limited. That's why you shouldn't put all your eggs in the same basket. What are ACAT Account Transfer Fees? If you transfer your retirement account to First Securities through ACAT, the transfer company will charge you a specified transfer fee. If you want to transfer assets from the first security to another financial institution through ACAT, Apex Exchange will charge a partial account transfer fee of $55 or a full account transfer fee of $75. What are redeemable bonds? If a bond has a “call” feature attached, the issuer can force a pullback early in the event of changes in market interest rates, which is very beneficial for hedge issuers. As a rule, a bond yields an interest rate of 7% per year and is extended for five years, until it is redeemed two years later. If the market rate falls to 4% after two years, the issuer can reissue the bonds and reissue them at 4%. What is a futures trading chart? FUTURES TRADING CHARTS GIVE YOU A GLIMPSE OF THE POTENTIAL GAINS OR LOSSES OF FUTURES STRATEGIES AT MATURITY. We give you this tool to help you better understand your chosen options strategy. So how do I read the futures trading chart? Two axes are displayed in the futures trading chart, namely the Y axis and the X axis. The vertical Y-axis represents a dip in the profit (+) and loss (-) ranges, while the horizontal X axis represents the different stock prices at maturity. On the Y axis, any value above zero indicates a diving profit, while a value below zero indicates a sinking loss. However, the X axis charts the different prices that the benchmark securities are likely to trade between now and in the future. Please note that both of these values determine the expiration date of the vacation franchise. How can a futures trading chart help me understand my options investment decisions? Understanding how much money you may gain or lose is undoubtedly the most important part of choosing a options strategy. This is why a futures trading chart is so useful, as it can calculate the theoretical risk of any futures strategy and the return at maturity (i.e., not liquidated, executed, or transferred before maturity). Futures earnings charts show how a futures strategy might look as stock prices change, and are presented in easy-to-understand graphs to help you measure possible profits or losses. When you want a visual tool that is easy to read, these charts can of course also be your go-to tool as you can track your profit balance or see how your holdings compare to your goals. It should be noted that all profit and loss charts show hidden gains at futures maturity; actual results before maturity may vary. DISCLAIMER: THE FUTURES EARNINGS CHART SHOWS THE ASSUMED MAXIMUM PROFIT. The actual benefit may exceed the calculated value in the theoretical number. Investment decisions should not be made on the basis of the profit and loss statement alone. What are non-liquid charges? Non-liquidity refers to assets or securities that cannot be sold quickly due to a lack of willing buyers or a stable trading market. Non-liquid assets are volatile, and their transformation process often loses a lot of the value of the asset. Non-liquid securities have high trading costs, and buying spreads is often high. For more information, please click here. What is Market Manipulation? Market manipulation is the deliberate deception of stock brokers, traders, analysts, or bankers to distort or alter market prices. Market manipulation is practiced in most countries; regulated by the Securities Trading Act of 1934 in the United States. Market hype type Market manipulation has different forms and sizes, examples of which are given below. Wash trading - Cornering - Buying and selling the same security at the same price at the same time - Insider trading based on non-public information to buy a specific stock, commodity, or other asset in large quantities and gain the ability to control and influence market prices.) - Stock spreads earn commissions from buying and selling at the same price to increase clients' account activity. Such behavior tends to increase the price and attract other investors. Ramping - Create trading activities or rumors to push prices up or down. What is illiquid stock? If the shares held by investors are not easily traded, they are referred to as illiquid shares.In other words, non-liquid stocks are not easy to find buyers or sellers to trade. Understanding illiquid stocks is essential because they can be traded on exchanges. Holding illiquid stocks means prices may be much lower than expected at the time of liquidation. Trading in non-liquid stocks is more risky due to lack of transparency and regulation. Some illiquid stocks may be traded on exchanges such as Nasdaq. You can also find this type of stock on OTC OTC markets. Common features of illiquid stocks: Non-liquid stocks, including penny stocks: Low trading volume prices often fluctuate widely between bid and ask High risk factors: Limited public disclosure documents for underpriced stock companies. Non-liquid and low-priced stocks are often subject to regulatory scrutiny. A sudden pullback is one of the common phenomena of illiquid stocks. The prices of these stocks are susceptible to manipulation, including predatory practices, which include illegal market fraud. Please invest with caution. What is GFV? Regulatory actions occur when you purchase securities using undeposited funds and then sell them before the original delivery date (trading day+2 business days) of the funds from which the purchased securities are originally delivered (trading day+2 business days). SAME-DAY TRADING USING A CASH ACCOUNT CAN EASILY LEAD TO THE PRINCIPLE OF DEFIANCE (GFV). For example, you bought 100 shares of ABC shares and sold them for $2,000 on Monday. The proceeds from the sale will be settled on Wednesday (T+2), but on that day, you decide that the unearned $2,000 proceeds will be invested in XYZ shares. On Tuesday, the day before ABC sold the proceeds, you sold XYZ shares. In this case, your transaction is subject to a breach of trust principle (GFV). Each regulatory action is kept in the account record for 12 months. Accumulating 4 GFV records in 12 months will result in your account being restricted to 90 days, which means you can only make purchases using your deposited funds.Accumulating 5 GFVs in 12 months will normally result in the account being restricted to 90 days, during which the account can only sell securities and not buy them. Please refer to the following restrictions on GFV alerts accrual: During 12 months, accounts that receive 2 alerts can still buy securities using undeposited funds; however, accounts that receive 3 alerts can only buy securities with settled funds. In this case, if you still want to make purchases with unreturned funds, you can contact a broker for help. You can also choose to apply for a funding account to avoid GFV alerts in your account. If an account receives 4 anti-trust policy alerts and a 90-day limit that allows you to buy securities using only deposited funds, broker-assisted transactions will also be limited to using deposited funds. For the 5th alert, accounts within 90 days can only sell securities during this period and cannot be bought. Until the validity period of 90 days, the account will not be allowed to use financing transactions (funding applications are not accepted). What is the Futures Penny Interval Testing Program? Securities and index futures belonging to the Penny Interval Testing Program are quoted at $0.01 if the contract price is less than $3. If the contract price is above $3, the quote base unit is $0.05. QQQ, IWM, and SPY options are exceptional, and the base units quoted are priced at $0.01 regardless of the futures contract. What is Financial Guarantee Compensation? An additional margin notification will occur if the value of an investor's secured account declines and the account's maintenance margin requirements are not met. When you receive additional margin notification, you will receive an email from Firstrade informing you of the amount of your additional guarantee. After logging into your account, you can also find additional margin notifications under the Purchasing Power section of the Surplus page. You will need to deposit at least the exact amount of the futures into your account, or sell the shares to pay for the futures. If you choose to sell your holdings, the amount sold on demand must be equal to or greater than the “Margin Margin Amount Divided by the Minimum Maintenance Margin Requirement”. For example, if you have a $1,000 supplemental margin notice and your seat has a minimum retention margin requirement of 30%. You can deposit $1,000 cash or sell $1,000/30% = $3,333.3 worth of shares. Upon receipt of additional margin notice, you will be required to replenish the security deposit within 3 business days, otherwise Firstrade reserves the right to liquidate your premises in order to replenish the security deposit. Common Guarantee Compensation: Federal Guarantee Compensation - Federal Guarantee Compensation occurs when there is insufficient funds available and is compensated by the purchase of new financing securities in a financing account. Investors must deposit funds and/or securities before the settlement date, or sell securities equal to at least twice the federal guarantee to meet this requirement. Internal Margin Margin - Margin compensation, also known as “maintenance guarantee allowance”, is generated in a financial account that is less than the required amount of collateral: a centralized account is 50% (a single holding is equal to or greater than 60% of the market value of the financial part); a non-centralized account is 25% (without a large holding 60% of the market capitalization of the financing unit). Margin compensation can be met by raising additional funds or by selling securities that are at least three times the amount of the guarantee premium. In some cases, the maintenance margin requirement for some stocks may be higher (greater than 25%), thereby increasing the total maintenance margin requirement of the account to a level of more than 25%. If you have both Federal Deposit and Internal Guarantee Reimbursement requirements, you'll need to commit more money to meet the claims. Day Trading Margin Compensation - When the account exceeds the current trading purchasing power, the current trading margin compensation will result. If you receive such notice, the account will be funded only with purchasing power until the replenishment requirement is met; this means that day trading is not allowed if the day trading guarantee is not completed. The current trading guarantee premium can only be paid by depositing new funds. Financial Guarantee Maintenance Allowance - FINRA regulations require that secured accounts must hold at least $2,000 in net assets in order to invest using the guarantee. If your account has net assets below $2,000, it will result in a “Funding Guarantee Maintenance Overhang”. You can meet this requirement by depositing new funds to replenish your account net worth at least $2,000 to meet this requirement; or you can sell securities to meet the replenishment requirement. What is the FDIC Insured Deposit Transfer Program? The Federal Deposit Insurance Transfer Program (FDIC Insurance Deposit Transfer Program) is an interest-earning deposit program offered through our exchange company, Apex Clearing Corporation. Uninvested cash in the account is automatically deposited into the FDIC insured deposit transfer program. Interest income will be determined based on the amount of cash, time available and the interest rate for the project. Funds held in the FDIC Insured Deposit Transfer Plan are covered by the FDIC and enjoy the standard maximum margin required by the FDIC. Each account at each project bank can be guaranteed $25 million, see the list of participating banks. You can browsewww.fdic.govFind out more details. For more information about the FDIC insured deposit transfer program, please refer to the Terms & Conditions. What is a Securities Lending Income Program? Typically, a trading company can lend shares to other financial institutions through the securities lending market to satisfy the need for short selling, collateral requirements, deliveries, etc. By participating in the First Securities Loan Income Program, you can earn additional income using shares that have been paid in full in your account and are not otherwise collateralized. This plan allows Apex Clearing, the first securities exchange company, to borrow shares from your account. Once your shares are borrowed, your borrowed proceeds will be added to your account on a daily basis and monthly. DAILY INTEREST INCOME = NUMBER OF SHARES LOANED* SHARE PRICE* ANNUAL INTEREST RATE/360* 15%. Example: If you hold 3000 shares of XYZ stock, the price per share is $150 and the annual interest rate is 10%. You participate in the Securities Lending Income Program, and we will automatically lend your shares when the lending market needs your shares. The daily interest rate is 3,000*150* 10% /360=$125. You will receive about 15% interest on a daily income of $18.75. Can I specify which shares to borrow? No, after you participate in the Securities Lending Income Program, Apex Clearing will borrow your shares from the securities you hold, depending on the needs of the securities lending market. Participation in this program does not guarantee that Apex Clearing will lend your shares, and the borrowed shares may be returned to your account at any time. Can I see borrowed shares in my account? Yes, on your securities holdings page, if a stock is on loan, you will see an “L” next to the stock code indicating the number of shares borrowed. Are there any trading restrictions? There are no trading restrictions in the Securities Lending Income Scheme. You can sell your shares at any time, and when the shares are sold, the loan of the shares will be automatically terminated. Will the shares I borrow continue to receive dividends? Dividends you earn will be paid in cash to your account. Cash income from dividends will no longer be subject to special dividend tax rates at the time of tax reporting and will be charged at the actual tax rate on your income. How is loan interest income taxed? Generally, interest income on loans belongs to the normal tax rate and is the same as salary income. Your loan proceeds will be accrued on a daily basis and deposited into your account on a monthly basis within 15 business days after the last business day of the month. Do I still have voting rights for the shares that have been borrowed? Once your shares are borrowed, you will lose your voting rights. Will the shares I borrow receive collateral? Of course, while the borrowed shares will lose the protection of SIPC insurance, Apex Clearing, the first securities dealer, will collect collateral of the same value as your shares in a custody account as collateral. The secured amount is multiplied by 102% based on the settlement price of the stock each day, followed by four to the nearest whole dollar units. Example: If you borrowed 10,000 shares of ABC stock, the current ABC settlement price is $25. $25 X $1.02 = $26.25 $25.72 - > Fourfold to $26 $26 x 10,000 (shares) = $260,000 $260,000 will be the amount of the day collateral you lent 10, 000 shares of ABC stock. Apex Clearing will keep the collateral for investors so that the amount can be adjusted on the next trading day. What is asset forfeiture and/or escheatment? Escheatment refers to the process of handing over all forms of unclaimed or bequeathed property to the State Government. Account assets are deemed to be unclaimed or relinquished if the account holder has not performed any activity within a period specified by the State Government (usually 3-5 years) and the account holder is unable to contact the account holder. Laws regarding unclaimed property vary by state; you can visit the National Association of Unclaimed Property Administrators (NAUPA) website for state-by-state links to the regulations on inherited property. What is an account holder's spontaneous activity? Spontaneous activities of account holders include the purchase or sale of securities, deposit or withdrawal of funds or securities, transfer of funds or securities, contact information updates, return of signed unauthenticated letters, website logins, telephone searches, email communications. Please note that the distribution of dividends, dividend reinvestment and the execution of shares or dividends are not considered spontaneous activities of account holders. How do I prevent my investment account from being defaulted? Maintaining account activity is the best way to prevent account defaults. For example, log in to your account regularly, execute transactions on an irregular basis, or deposit/withdraw funds from your account. It is also important to keep your contact information (phone number, email address, and actual address) updated to ensure you receive any notifications related to your account. If mail sent to you by your financial institution cannot be returned or you cannot be contacted through other contact information, your account may be declared abandoned and eventually seized by the state government. Will my retirement account be forfeited? The applicable legal requirement is that for traditional retirement accounts, assets in the account will not be collected if there is no activity within a period of time after the minimum required withdrawal from the holder (age 72, or born before July 1, 1949, and age 70 and a half) is required. Ross IRA accounts are not subject to the same rules. If the Ross IRA account holder does not withdraw any assets within five years after the death of the holder, the account will be defaulted. Are there no fees for the asset? If an account is frozen due to the account holder's spontaneous activity or failure to respond to a notification, our delivery company will charge a $100 processing fee for each frozen account. This fee includes processing fees for transferring account assets to the state government. What if your investment account has been defaulted? You must submit an application to the state government department that has not received your assets to recover your account assets. The rules for filing a withdrawal request differ from state to state, but you should be prepared to provide information verifying your ownership of the investment account. Some states also set deadlines for the return of application requests. Please contact the unrecognized IRS or a lawyer in your state for step-by-step advice on how to proceed with a recovery application. You can find contact information for unrecognized assets in each state on the NAUPA website. If you have an international account with Firstrade, you can apply to the State of New York to recover your assets. Unclaimed assets may take up to 6 months to enter the State Government's “Unclaimed Property”. If you can't find your account on your first search, please check the account statement (or contact your securities company) to confirm the date of non-receipt. You may need to search again later to find your account. What are the fees for trading index futures? Chicago Board Options Exchange (Cboe) charges proprietary trading fees for index futures traded on its exchange. www.CBOE.comLearn the details. From June 1, 2022, First Securities will charge clients an index futures fee based on the number of contracts placed per trade. This fee is listed as a Process Fee in the transaction certificate. Please refer to the following rates specifically. Code Name Contract Price Per Contract Price SPX S&P 500 =$1 $0.66 SPXW S&P 500 =$1 $0.59 VIX and VIXW (Basic Order) Cboe Market Volatility Index <=$0.10 $0.10 $0.11-$0.99 $0.25 $1-$1.99 $0.40 $2+ $0.45 VIX and VIXW (Multiple Term Orders) Cboe Market Volatility Index <=$0.10 $0.05 $0.11-$0.99 $0.17 $1-$1.99 $0.30 $2+ $0.45 XSP Mini-SPX Index more than 10 contracts $0.04。 What is Tracking Stop Price$ Orders (or Track Loss Limit Price% Orders)? This is a special kind of stop order, in which the price of a stop book moves in a favorable direction, it traces the stop price to “move” in price (or percentage) with a difference in price (or percentage), but it still protects investors from the effects of a quick pullback. For example: Frank bought XYZ Company for $10. He doesn't want his investment to lose more than $2, but he still wants to be able to enjoy the price benefits. Nor does he want to keep an eye on his trades to ensure profits. At this time, he can set a tracking stop loss limit on his XYZ stock order, and if its price falls above $2, the stock will be sold automatically. There are two benefits to tracking breakdowns. First, if the stock is unfavorable to him, XYZ will track losses at $8, which will protect him from the effects of a further drop. However, if the stock price rises to $20, the trigger price of the tracking stop will also rise. At a price of $20, a stop loss will only kick in when the stock falls below $18. This helped him secure the recovery of most of the gains from the stock's rise. What do I need to read before trading options? Before buying or selling a security, investors must read a copy of the characteristics and risks of standardised securities, also known as the Options Statement Document (ODD) and the Futures Trading Supplementary Statement. It explains the features and risks of trading options. What is the trading time for cryptocurrencies? The cryptocurrency exchange market is open 24 hours a day, 7 days a week. With the first security, you can invest in cryptocurrencies almost 24 hours a day — please note that there are two systems maintenance periods where cryptocurrency transactions may not be possible. Cryptocurrency Maintenance Period: The maintenance of the cryptocurrency system takes place at the same time of the day from 5:30pm to 6:15pm ET. During this period, cryptocurrency buy-in orders are not accepted for a while. Any pending orders will be cancelled at 5:30pm Eastern Time. Daily Maintenance Period: 7:05 AM — 7:25 PM Eastern Time The system performs daily maintenance during each working day (except holidays). During this period, cryptocurrency buy-in orders are temporarily not accepted. Cryptocurrency sell orders can still be submitted. However, if a sell order is traded during the daily maintenance period, the funds sold will be reflected in the purchasing power after the maintenance period ends. What are the transaction frequency limits for cryptocurrencies? There is no limit to the number of cryptocurrency transactions; you can trade as you like. Cash account rules (Good Faith) do not apply to cryptocurrency transactions. Pattern Day Trader (PDT) rules also do not apply — considered PDT is not based on the number of cryptocurrency transactions. What are the order limits for cryptocurrency trading? The maximum amount per order is $100,000 per order, and the minimum zero star stock for a single trade of $1 is 0.00000001. Cryptocurrencies cannot be void What is the minimum asset requirement for a futures account that can be traded in shares or dollars? There are no basic deposit requirements to open initial securities and trade stocks, but trading certain options strategy accounts require you to reach the base account total. The total number of basic account assets required for each option strategy is as follows: Covered Calls Sells Secured Securities No Cash-Secured Equity Puts No Buying Puts & Calls Buy-in or Put Rights No Spreads, Straddles, Butterfly, & Condor Options $2,000 Uncovered Puts Sell Unsecured Trade Rights $10,000 。
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成熟投资者：格局，概率，取舍。没有格局必然急功近利。不计概率会把运气当技术。不懂取舍，有所不为，最后必落入陷阱和圈套。
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Follow Mr Market : Being able to summarize the knowledge and rules of such complex relevant US securities, I am sure you have a wealth of knowledge and experience... thank you very much. Because of this, I am very convinced of your article. One point that bothers me a lot is: not only is the part of the Wash-Sale (wash-sale) loss part not only not tax deductible, but it is also subject to flush transaction tax, and the tax rate is as high as 30-37%. Regarding this section of regulation, I specifically checked my 2022 tax form. If you look at my tax return from last year, it is cost basis minus procedures minus wash sales loss disallowed, which is finally equal to net profit and loss... According to this tax form: first; it does not have a washout transaction tax of 30-37% or more, and second, wash sale disallowed can also be offset when appropriate.. I am deeply puzzled. I hope you don't let me know and resolve my doubts.. Thanks