| Q. What is the simplest way to open an account? |
| Secure On-line application
After completing the Secure On-line application print the paperwork and fax to OC Securities at 949-268-2881 these 3 signed pages of paperwork -
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| Q. How do I fund my account? |
| By check, send a check (with account number) to our clearing firm; make the check out to Penson Financial Services, Inc.
Penson Financial Services, Inc.
1700 Pacific Avenue, Suite 1400
Dallas, TX 75201-7322.
By wire.....
J.P. Morgan Chase Bank
ABA 021-000-021
F/A Penson Financial Services
ACCT #066-6-00030
FFC: Customer Acct# & Customer Name
By transferring securities and/or cash from another brokerage account by completing the transfer form below.
Click here to fill out the transfer paperwork
and faxing it to OC Securities at 949-268-2881
By ACH (AUTOMATED CLEARING HOUSE) to set up a ACH account please fill out and return the following paperwork.
Click here to download paperwork.
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| Q. How do I see detailed information on my account? |
|
Go to https://online.penson.com/ and 'Create a User ID'. The site will verify it's you and allow you access to your account information on-line. Below is a link to the user's guide link.
Online Penson User's Guide
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| Q. What if I don't want any paper confirmations? |
Go to the https://online.penson.com
Sign-in, go to 'services and tools'. Click update profile, which gives you 2 boxes, one for e-mail confirms, another for e-statements - check both boxes then check the 'I agree' box.
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Q. What do I do if I want electronic confirmations
and monthly statements? |
| Go to the https://online.penson.com/
Sign-in, go to 'services and tools'. Click update profile, which gives you 2 boxes, one for e-mail confirms, another for e-statements - check both boxes then check the 'I agree' box.
|
Q. Is my account at OC Securities insured and if
so for how much? |
| OC Securities and it's clearing firm Penson Financial Services, Inc. are members of the Securities Investor Protection Corporation (SIPC). SIPC COVERAGE: OC Securites and Penson Financial Services are members of the Securities Investor Protection Corporation (SIPC), a federal corporation which is authorized to borrow monies from the United States Treasury. SIPC protects each customer’s account up to $500,000, limited to $100,000 on claims for cash.
We have also purchased supplemented coverage through Lloyds’ of London which provides additional coverage in excess of $35 million per account including a cash sub limit of $900,000. Cash balances created and maintained solely for the purpose of earning interest are not protected by SIPC. SIPC does not cover commodity contracts and options on futures. The SIPC coverage and excess SIPC coverage does not protect against changes in the market value of your investments (whether as a result of market movement, issuer bankruptcy or otherwise). For details or a brochure, please see www.sipc.org. |
Q. How do I download my trades to Gainskeeper
or other tracking tax software program? |
| Yes, downloading trading information to Gainskeeper as follows. Go to the Gainskeeper homepage at http://www.gainskeeper.com/. log into Gainskeeper with your username/password. Click on 'GainsTracker' tab, Click on 'Record Trades' tab. Click on 'Penson Financial Services', enter your Penson Username/Password and specify the date range to pull the trades into Gainskeeper. Gainskeeper will pull up all the trades for the dates that you specified in step 5 above. Follow next steps in Gainskeeper to proceed generating Schedule D. |
| Q. Does OC Securities accept foreign accounts? |
| Yes, most foreign accounts are accepted. A W8 form and copy of passport photo are required. We currently can't open accounts for Afghanistan, Angola, Burma (sometimes referred to as Myanmar) Cuba, Iran, Iraq, Libya, Nauru, North Korea, Sudan, Syria, Zimbabwe and Canadian residents. |
| Q. Can I write checks from my account? |
| Yes, fund your account with $10,000 or more, fill out the PenFlex Application, fax it to us and your checks will be mailed to you. |
| Q. Is OC Securities a Broker/Dealer? |
| Yes OC Securities is a NASD registered broker-dealer and a member of SIPC. OC Securities is licensed across the U.S. |
Q. How do I deposit a stock certificate into my
OC Securities account? |
| Print and sign the Stock Power
Send the stock certificate with your OC Securities account number on it to:
Penson Financial Services, Inc.
1700 Pacific Avenue, Suite 1400
Dallas, TX 75201-7322 |
| Q. What do I do if my address changes? |
| You fill out a Change of Address form, sign it and either fax it or e-mail it to us. |