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"What is QQQDirectSM?"
QQQDirectSM is an affordable online investing service where you can purchase
the NASDAQ 100 Tracking Stock, an exchange-traded fund (ETF) based on NASDAQ’s 100
largest non-financial companies, ticker symbol QQQQ. The QQQDirect plan makes available
one Plan Purchase of QQQQ per month free of any charge of any brokerage commission.
You can invest as little as $10.00 or as much as you want in QQQDirect once 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. And, you don’t have to pay any brokerage commission to
purchase.
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"How much does QQQDirect cost?"
The QQQDirect plan makes available one FREE Plan Purchase of QQQQ per month. Each
additional Plan Purchase of QQQQ in that month, or of any other security, is just
$3.99 per security. There is no annual or monthly fee for the QQQDirect plan, though
all other standard fees may still apply.
We also offer three other standard Investing Plans, with low monthly or annual fees,
that allow you to buy over 1000 securities in addition to the QQQQ. These are our
“MyStockFundSM” Plans. You can pick the plan that suits you best.
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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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"What types of accounts are
available at QQQDirect?"
• Individual
• Joint
• Custodial
• Investment Club
• Corporate
• Partnership
• Trust
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"Who is eligible to open an
account?"
To open a QQQDirect account, you must be a U.S. citizen or resident alien with a
valid Social Security Number or Tax Identification number. Also, you must have a
permanent residence, home of record, or physical address within the United States.
You must be (at least) the age of majority for your state of residence. We 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 account is funded automatically through a 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 account
separately. You may choose to deposit cash into your account using our Instant Deposit
or Recurring Deposit feature for future 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 place a One-time QQQDirect 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.
- 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 online.
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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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"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 QQQDirect?"
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 QQQDirect?"
In order to transfer securities into MyStockFund Securities from another firm, you
may access the Account Transfer form in the Manage My Account section on our website
after you open your account.
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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 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, our signature
service feature, “AutoVest,” goes to market on a weekly basis. AutoVest 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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"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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