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"I'd like to buy stock any time during the month? Can I do that and how?"
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You can purchase full shares of any listed stock using "Broker-Assisted" buying. You may contact one of our brokers Monday-Friday, 9:30am EST - 4:00pm EST (except holidays) at (703) 620-6050 and place a buy market order. You must have cash in your account to cover the purchase and $18.00 fee for each security purchased.
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"Can I purchase stock that is not on the current stock list?"
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Yes. MyStockFund Securities offers market orders for a commission of $18. You may purchase any listed. (top of page)
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"Can I place a buy order outside the once a month MyFundBuilder?"
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Yes. MyStockFund will accept market orders for any listed security. The commission for this service is $18. Please call 703-620-6050 between 9:30am EST to 4pm EST to place your order. (top of page)
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"What is a market order?"
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A market order is an order to buy or sell a stock immediately at the best available current price. A market order guarantees execution. (top of page)
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"Can I place a Limit order, or Good Till Cancel Order?"
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No. Unfortunately, MyStockFund Securities can only accept market orders. (top of page)
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"How was the stock list determined?"
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We use the Standard & Poor's 500 Stock Index (S&P 500) as the basis for our stock list. The 600+ stocks that make up the list are also selected by company size, marked capitalization, trading volume and member request. Except in the case of a merger or acquisition, it is our intention to include any company that is removed from the S&P 500 Index on our stock list. At a minimum it will include the stocks that comprise the S&P 500.
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page)
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"How much does it cost to enroll?"
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The annual subscription fee is $145.
There is no fee to buy shares and
you may buy shares in as many of the stocks on our stock list as you want.
You may invest as little as $10 per stock, per month. There is no fee
to opt out of a monthly purchase cycle or to discontinue your investment
program. Click for a list of MyStockFund services
and fees. (top of page)
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"Can I open an account online?"
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You can complete the New Account Application, ACH Forms and other required forms online. We are required to have your original signature on file before we can activate your account. For this reason, you need to print, sign and mail us your application forms. Mail to:
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MyStockFund Securities, Inc. 12310 Pinecrest Rd., Suite 203 Reston, VA 20191 (Fax) (703)620-6223
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Or, after you complete the information online, select the "Print for Me"
option from the Open Your Account section and
we'll print the forms and mail them to you for your signature. (top of page)
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"After I complete my application forms, when can I set up MyFundBuilder to buy stocks?"
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You can set up your MyFundBuilder immediately after completing the forms online. Upon
receipt of your completed Account Application and ACH forms we will debit your source account
for the $145 annual subscription. We'll send you a notification (mail or e-mail) as soon as
your account has been activated. Once your account is active, MyStockFund Securities will execute
your purchase selections from the MyFundBuilder page on the next scheduled purchase date. It typically takes five to seven business
days from our receipt of your completed forms to activate your account. (top of page)
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"When is money transferred from my checking or savings account?"
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The MyFundBuilder page shows the next scheduled purchase date. Five (5) business days before this date, MyStockFund will debit funds from your source account. Your money will be deposited in your MyStockFund cash account pending investment. (top of page)
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Cash balances will be swept into the FDIC-insured money market account at a depository institution and will earn interest while awaiting investment in stocks. There is no minimum requirement. (top of page)
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"What happens if there are not sufficient funds in my source account to
pay for the stock purchases on my buy list?"
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If we are not able to electronically debit your source account for the total
amount of your purchase request because of insufficient funds or incorrect bank
data, you will not be eligible to participate in the purchase and your account will
be charged a service fee (See Fees Page for a list of services and fees).
To avoid this fee, we encourage subscribers to keep the ACH account information
they have on file with us current and to make sure there is enough money in their
source account to cover their monthly stock purchases. (top of page)
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"What tax and account information will I receive?"
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You'll receive all the reports necessary to help you correctly document your taxable account
activity for the previous year, 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. (top of page)
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"Who should I contact if I have a question?"
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You can reach a member care representative by e-mail at:
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[email protected]
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or by phone at
866-386-3253 (FUNDBLD)
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or you may mail your questions or correspondence to:
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MyStockFund Securities, Inc. 12310 Pinecrest Rd., Suite 203 Reston, VA 20191 (Fax) (703)620-6223
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Please include your name, MyStockFund Securities account number, phone number and the best time
to reach you. (top of page)
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"Who is Legent and what role do they play?"
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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 National Association of Securities
Dealers, and the Securities Investor Protection Corporation.
MyStockFund Securities, Inc. (MSFS) is a registered introducing broker/dealer who works with retail customers 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 Legent and MSFS logos. (top of page)
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