|
1.
|
What can I invest in with a WR Hambrecht + Co Brokerage Account?
|
| |
We offer a full range of products, including equities, fixed income,
mutual funds, options, traditional IPOs and private equity deals. We also
offer access to our auction products including the OpenIPO auction for initial public
offerings, the OpenBook® auction for corporate debt and the OpenFollowOn® auction for follow-on
offerings. For more information about our products and services, please email us at
info@wrhambrecht.com or call 1-800-673-6476.
|
| |
[ back to top ]
|
|
2.
|
How do I open a new Brokerage Account?
|
| |
Applications are available online
or by calling 1-800-673-6476. A $2,000 minimum is required to open an
account.
|
| |
[ back to top ]
|
|
3.
|
What types of accounts do you offer?
|
| |
Our brokerage services offer the following accounts: Individual, joint
tenants with rights of survivorship, joint tenants with tenants in common,
Individual retirement account (IRA), IRA Rollover, Roth IRA, trust, custodian,
UTMA or UGMA, and corporate accounts.
|
|
|
•
|
Click here to open an individual
or joint account, UTMA or UGMA, or a retirement account.
|
|
|
•
|
To apply for a Trust Account or Corporate Account, please call
our customer service center at 1.800.673.6476.
|
|
| |
[ back to top ]
|
|
4.
|
What are Private Equity Investments and how do I participate?
|
| |
Private equity investments are available only to accredited investors.
To learn more about participation in private equity, click here or visit the private investments FAQ.
|
| |
[ back to top ]
|
|
5.
|
What are your commissions and fees?
|
| |
Click here to view our commissions and fees.
|
| |
[ back to top ]
|
|
6.
|
How do I transfer assets from an existing account at another firm?
|
| |
To transfer an account, complete the online account
transfer form and send us a copy of your most recent statement and
we’ll take care of the rest. For more information about the process,
see Understanding
the Brokerage Account Transfer Process.
|
| |
[ back to top ]
|
|
7.
|
Is there a minimum balance that must be kept in my account?
|
| |
No, we do not require a minimum balance.
|
| |
[ back to top ]
|
|
8.
|
What are the guidelines for trading online?
|
| |
|
|
|
•
|
Buying and Selling Securities: We require cash or stock
on deposit in your brokerage account to place a buy order. To place
a sell order you must have the securities you intend to sell in
your brokerage account. To place a short sale we require prior approval
from our clearing broker.
|
|
|
•
|
IPOs: We do not accept market orders for IPOs on the first
day of trading. To purchase an IPO on the first day of trading you
must place a limit order. IPOs cannot be purchased on margin.
|
|
|
•
|
Modifying or Canceling Orders: If a Cancel Order is received
for an order that has already been executed, it will be rejected.
If you have an open order in your account, and another order is
received to buy the same security, even if it is a market order,
the second order will be rejected as a duplicate order. You may
modify or cancel orders from the Open Orders Screen.
|
WR Hambrecht + Co may, at any time, and at its sole discretion, refuse to
accept any order, cancel or change a request for any reason. Notification
of the rejection will be made to you in a timely manner.
|
| |
[ back to top ]
|
|
9.
|
What are some of the risks to trading in a fast market?
|
| |
There are many risks involved with trading in a fast market. Click
here to read a brief explanation of how fast markets may affect your
trade.
|
| |
[ back to top ]
|
|
10.
|
What is OpenIPO and how do I participate?
|
| |
The OpenIPO auction is one of our proprietary Internet-based auction products for
underwriting equity offerings. To learn more about how the OpenIPO auction works and
how you can participate, click here or visit the OpenIPO FAQ section.
|
| |
[ back to top ]
|
|
11.
|
What are the requirements to participate in a traditional IPO?
|
| |
We require a minimum account balance of $25,000 in cash or equities to
participate in a traditional IPO.
|
| |
[ back to top ]
|
|
12.
|
What are penny stocks?
|
| |
Penny stocks are speculative, high-risk stocks which trade on the over-the-counter
bulletin board, usually with a price of less than a dollar per share.
|
| |
[ back to top ]
|
|
13.
|
Do you offer options trading?
|
| |
Yes. To trade options your account must be specifically approved for
options trading. You must complete an Option
Agreement and Approval Form, prior to trading. Your application
will be reviewed and approved by WR Hambrecht + Co and its clearing firm,
Pershing LLC. The review process is approximately 24 hours.
|
| |
[ back to top ]
|
|
14.
|
Where can I get more information about options?
|
| |
Your best source of information is the Options Clearing Corporations’
(“OCC”) Characteristics
and Risks of Standardized Options, in addition to the OCC Option Prospectus.
All investors must carefully read and understand the aforementioned documents.
|
| |
[ back to top ]
|
|
15.
|
What can I do to better manage my options account?
|
| |
It is imperative that you understand the risks and strategies involved
with options trading. It is also important that we have current telephone
numbers on record for you, as well as a current email address in case
one of our traders should need to contact immediately regarding your order.
We will make every effort to contact you if we have a question on your
order.
Also, check your account. By assessing your account activity online,
you have a real-time view of your positions. If there are any problems,
contact us immediately. Finally, if you still have questions, call our
registered representatives at 1.800.673.6476.
|
| |
[ back to top ]
|
|
16.
|
What is the difference between an option and a LEAP?
|
| |
An option contract gives a buyer or seller the right to buy or sell a
fixed number of shares of a security, at a fixed price, over a fixed period
of time in the future, usually three, six, or nine months. A LEAP (Long-Term
Equity Anticipation Security) is a long-term equity option and normally
expires in two or five years.
|
| |
[ back to top ]
|
|
17.
|
What is day trading?
|
| |
The purchasing and selling, or the selling and purchasing of the same
security on the same day in a margin account. A day trader is any customer
who executes four or more day trades within five business days. A day-trading
strategy means an overall trading strategy characterized by the regular
transmission by a customer of intra-day orders to affect both purchases
and sale transactions in the same security or securities. Customers employing
a day trading strategy may also be subject to higher margin requirements
and stricter margin call requirements. WR Hambrecht + Co does not promote
day trading as a strategy for its customers.
|
| |
[ back to top ]
|
|
18.
|
After I place an order, can I change it or cancel it?
|
| |
Some orders can be modified or canceled and some cannot.
|
|
|
•
|
Market orders generally cannot be modified or canceled because
market makers must execute market orders promptly at the price prevailing
when the order reaches them. Market orders will generally already
have been executed by the time any instructions to modify or cancel
are received. Remember, not having the report of an execution yet
doesn’t mean the order hasn’t executed yet. You can place
a request to cancel, but this may be accomplished only under unusual
circumstances, such as when a stock stops trading during the day.
|
|
|
•
|
Limit Orders can possibly be modified or canceled if your
request is received prior to your order reaching the market. We
will make a “best efforts” attempt to either modify or
cancel your order. Once an order is executed it cannot be canceled.
|
|
| |
[ back to top ]
|
|
19.
|
What if I have further questions or service requests?
|
| |
Please call our customer service center at 1-800-673-6476 or 1-610-725-1150.
Representatives are available Monday through Friday, 8:30 a.m. to 6:00 p.m. Eastern Time.
|
| |
[ back to top ]
|
|
20.
|
In the event WR Hambrecht + Co cannot meet its financial obligations, is my account still protected?
|
| |
You are protected up to $500,000 by the Securities Investor Protection
Corporation (SIPC). This protection includes up to $100,000 for cash.
|
| |
[ back to top ]
|
| |
