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"What is MyStockFund?"
MyStockFund is an affordable online investing service where you can purchase
your favorite stocks, exchange-traded funds (ETFs) and closed-end bond funds.
Our easy to use website makes it simple to build a diversified portfolio over
time by giving access to the securities markets in a dollar-based (fractional
share) format. You can invest as little as $10.00 (or as much as you want) in
each security on a weekly or monthly basis automatically every month with our
AutoVest Schedule. Investing in this manner allows you to take advantage of
dollar-cost averaging and diversification regardless of your budget or level of
investing experience. One-time Plan Purchases and Real-time market orders are
available too!
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"Why invest with MyStockFund Securities Inc.?"
Automatic disciplined dollar-based fractional share investing is a growing
trend. While MyStockFund offers real-time market orders for convenience, their
signature service feature, “AutoVest,” goes to market on a weekly basis.
AutoVest (a tool that helps you build your portfolio over time with regular
automatic investments in your favorite securities) and One-time Plan Purchases
are part of the process of aggregating our members’ purchase orders to go to
market as a group rather than as individuals. In turn, MyStockFund is able to
pass along the commission savings to you. These prices are reflected in our
Investing Plans and help you keep your commission costs and transaction fees to
a minimum.
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"How much does MyStockFund cost?"
We offer three standard Investing Plans so that you can pick the plan that
suits you best. See our Pricing and Investing section
for available plans. See other Fees & Services
for other related costs that might be associated with your account.
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"What types of accounts are available at MyStockFund?"
• Individual
• Joint
• Custodial
• Investment Club
• Corporate
• Partnership
• Trust
We offer standard MyStockFund investing accounts at this time. In the future,
we will notify members when we add new account types, such as IRAs, etc.
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"Who is eligible to open an account?"
To open a MyStockFund account, you must be a U.S. citizen or resident alien
with a valid Social Security number. Also, you must have a permanent residence
or home of record within the United States. You must be (at least) the
age of majority for your state of residence. MyStockFund Securities
cannot currently accept applications from prospective members who do not meet
these criteria.
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"What information do I need to open an account?"
All brokerage firms are required to collect certain information due to
regulation and IRS rules.
• Full legal name
• Date of Birth
• Citizenship
• Employment Information
• Residence Address
• Phone number
• Email
Other information required to open a MyStockFund account:
• Checking or Savings Account information
• Credit Card (optional for payment of fees)
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"How do I fund my account?"
Your AutoVest Schedule is funded automatically through Cash Link (a
service feature that electronically links your savings or checking account
directly to your MyStockFund account) one day in advance of your purchase. You
do not have to fund your AutoVest Schedule separately. You may choose to
deposit cash into your account using our Instant Deposit or Recurring Deposit
feature for future ancillary One-time Plan Purchases or Real-time market buy
orders. All unused cash is swept into an insured interest bearing account and
will not incur penalties for cash withdrawals.
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"How do I get started?"
Fill out the online application and you may set up your AutoVest Schedule
today. Your account will begin purchasing the designated securities in your
AutoVest schedule as soon as your Cash Link becomes active. The Cash Link
approval and activation process takes up to six business days.
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"How do I place a buy order?"
You have three options in the way you may purchase securities with us. You may
set up recurring investments in your AutoVest Schedule with securities you
would like to dollar-cost average or buy into over time. You may place a
real-time market order for $12.99 Monday through Friday (during regular market
hours) or you may place a One-time Plan Purchase order to be
executed during our weekly Plan Purchase cycle (every Thursday). Plan Purchases
are priced according to your respective Investing Plan and allow you to save on
commissions.
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"How do I sell securities in my portfolio?"
All sales are executed as real-time market orders and cost just $12.99 each.
Sales are not included with any Investing Plan.
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"What is a Plan Purchase?"
A Plan Purchase is a scheduled purchase or buy order in any security placed
through the AutoVest Schedule (a tool that helps you build your portfolio over
time with regular automatic investments in your favorite securities) or the
One-time Plan purchase process executed during our weekly buy cycle.
MyStockFund aggregates our members’ fractional share or dollar- based orders
and goes to market every Thursday. By placing buy orders in this manner,
MyStockFund is able to pass the savings off to you. Plan Purchases are priced
according to your respective Investing Plan. See Pricing and Investing Plans
for more information. Investing in this manner is a great way to keep your
commission costs down while making it simple to dollar-cost average and
diversify over time.
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"Can I place a limit order?"
No, at this time MyStockFund Securities accepts market orders only.
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"What tax and account information is available to me with MyStockFund?"
You can access all statements, confirms and reports online to assist you in
documenting your taxable account activity, including income from dividends,
interest and sell proceeds. Cost basis of stocks that you sold during the year
will be matched against sell proceeds to help you calculate taxable gains or
tax-deductible losses.
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"How do I transfer securities into MyStockFund?"
In order to transfer securities into MyStockFund from another firm, you my
access the forms on our website after you open your account in the Manage My
Account section.
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"Can I purchase stock that is not on the current
stock list?"
Yes. MyStockFund Securities offers market orders, for any security listed on an
exchange, that may be placed on the web site, for a fee of $12.99. You must
purchase whole shares. Securities can also be purchased through a Broker
Assisted trade for a fee of $25.00 for each security purchased. You must
purchase whole shares. You may contact one of our brokers Monday-Friday, 9:30am
EST - 4:00pm EST (except holidays) at 888-620-6050 and place a buy market
order. You must have assets in your account to cover the purchase and the fee
for each security purchased.
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"What is a market order?"
A market order is an order to buy or sell a stock immediately at the best
available current price. A real-time market order can be placed during regular
market hours from 9:30am to 4:00pm EST Monday through Friday. Orders can also
be placed on the web site after market hours. However, if an order is placed
after market hours the order will be stored by the web site, and will be placed
as a market order shortly after the market opening the next business day.
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"Who is Legent and what role do they play?"
Legent Clearing Corp. (Legent) provides securities clearing, execution and
settlement to broker-dealers, banks, money managers and other financial
intermediaries across the nation. It is a member of the New York Stock Exchange
and other principal exchanges, the Financial Industry Regulatory Authority,
and the Securities Investor Protection Corporation.
MyStockFund Securities, Inc. (MSFS) is a registered introducing broker/dealer
who works with retail members to initiate stock transactions. Legent sends
those orders to the appropriate trading floor, thus helping MSFS fulfill
orders. Legent is responsible for receiving money from investors' source
accounts and crediting investors' MSFS account. They then debit your account to
cover the cost of investment and credit each investor's MSFS account with the
correct amount of full and fractional shares purchased. Investors will receive
statements, confirmations, proxies and other such documents bearing both Legent
and MSFS logos.
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