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Can I trade without funds or securities in my account? [Top]
In order to offer our deep discount commissions, we require that you have either the funds, buying power or securities in your account before you make a trade.
What do I do if I can’t get to my computer to place a trade? [Top]
You may also place trades through MAXXtrade, Inc. brokers.
What types of securities can I trade through MAXXtrade, Inc.? [Top]
You can trade stocks through MAXXtrade, Inc.’s Internet site. Bond and Mutual Fund trades can be placed through MAXXtrade, Inc. trading representatives. See our Fee Schedule
What types of orders does MAXXtrade, Inc. accept? [Top]
MAXXtrade, Inc. will accept market, limit, stop and stop limit orders. Limit, stop and stop limit orders may be placed with an additional charge. (see Fees)
Why wasn’t my OTC limit order executed when it traded at my limit? [Top]
In most cases with OTC (over the counter) stocks, this is a function of the bid and ask. The bid is the highest price a prospective buyer (one who is buying your stock) is prepared to pay at a particular time for a trading unit of a given security; the ask is the lowest price acceptable to the prospective seller (one who is selling you the stock) of the same security. The difference between the bid and ask is called the spread. While you may see your stock trade at your limit price, it may be at the ask if you are trying to sell or at the bid if you are trying to buy, therefore your order would not be executed. Even if the stock is trading in the spread, you are not guaranteed an execution. Only if your limit is at the bid (in case of a sell) or the ask (in case of a buy) will you have the chance of your order being executed. Unlike listed securities (ie. NYSE stocks), OTC’s are not guaranteed an execution.
Can I trade IPO’s with MAXXtrade, Inc.? [Top]
We cannot accept orders to buy shares of an initial public offering until those shares are trading in the public market. We will only accept day limit orders until the stock begins trading in the public market. However, clients are responsible for market or GTC orders placed before the stock begins trading in the public market.
What time do I have to place a Mutual Fund order to receive today’s price? [Top]
MAXXtrade, Inc.’s cutoff time for Mutual Fund orders is 2:30 Central Time. All mutual fund families have their own rules concerning what time an order must be placed for that day’s price. Clients are responsible for placing the trade with MAXXtrade, Inc. before the fund family’s cutoff time. If you have any questions please contact customer service.
I only entered one order, why am I charged several commissions? [Top]
All executions on one day for a single order are charged one commission. However, if you had an open GTC order and received multiple executions over more than one day, you will be charged a separate commission for each different day there is an execution.
Can I send trades or cancels via email or fax? [Top]
No, not under any circumstance.
I sent in a "cancel" order, but the trade executed anyway. What’s going on? [Top]
When you submit a "cancel" order, it is a request to cancel an open order. Sometimes, the request is too late and the open order executes. MAXXtrade, Inc. is not responsible for cancellation requests sent too late.
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