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Funding Instructions for Stocks, Options, & Futures
Forex account holders: click here for funding instructions.
Funds are usually available the business day after they are received. Some deposits, such as checks, may require a 12 business day hold if we are unable to verify funds with your bank. All check deposits will be held for 12 business days before they can be withdrawn.
| Account Type |
Available to Trade |
Opening Deposit |
| Cash |
Stocks, Options |
$1,000 |
| Margin |
Stocks, Options, Futures |
$2,000 |
| IRA |
Stocks, Options |
$500 |
| Check Deposit Instructions |
Make checks payable to:
"Penson Financial Services" and include your 8-digit MB Trading account number. Checks made payable to MB Trading will not be accepted.
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| Mail checks to: | MB Trading
1926 E. Maple Avenue
El Segundo, CA 90245 |
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Check Deposits
MB Trading accepts personal checks, bank checks, and cashier's checks from US banks in US dollars. We do not accept money orders, credit card, third party, temporary, or traveler's checks.
More info » |
| Wire Transfer Instructions |
Receiving bank info:
JP Morgan Chase
277 Park Ave
New York, New York 10172
(212) 623-1636
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For the benefit of:
Penson Financial Services
Account No: 066-6-00030
1700 Pacific Ave., Ste 1400
Dallas, TX 75201
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ABA number:
021000021
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Further credit to:
Your name and MB acct no.
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Wire Deposits
Typically the fastest method of funding your MB Trading account. Wire transfers are usually received the same day that they are sent by your financial institution and will post to your account the day after they are received. Foreign wires require SWIFT number CHASUS33.
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ACH Transfers Equities Account Only:
Electronically transfer funds to and from your checking or savings account. ACH transfers typically take 24-48 hours to process and are available for no charge. There is a limit of $25,000 per day for all ACH transfers. To get started, download and complete the ACH Authorization form. Attach a voided check or savings deposit slip to the completed form and mail it to:
MB Trading
1926 E. Maple Avenue
El Segundo, CA 90245
In the event that an ACH is reversed by NACHA, a $25 fee will be charged and the account will be asked to send funds via an alternate method (wire, cashier’s check, or certified funds) Please refer to “Important Information” below.
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DTC Transfer
A method of transferring cash positions (fully paid-for stocks) from your existing brokerage firm to MB Trading. These transfers typically take 3-5 business days and cannot be used if you are closing your other account. You will need to provide the transferring broker with MB Trading's incoming DTC number: 0234PFSI
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Automated Customer Account Transfer (ACAT)
Typically used to transfer an entire account (including cash and securities) from another broker to your MB Trading account. To do so, please sign and complete the ACAT form and return it to us with your new account paperwork. Make sure to include a copy of your most recent monthly statement from the transferring broker. You may also fax us a copy of the form so we can initiate your transfer, but we must still receive the original copy. (ACAT transfers take approximately 7-10 business days). Click here for an ACAT form.
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| Important Information |
| Checks and wires can only be accepted from an account with the same name as your MB Trading account. |
| Check deposits into Individual Retirement Accounts require an IRA deposit slip. |
| Checks will be held from withdrawal for at least 12 business days after deposit. |
| Cash deposits are not accepted. |
| Checks drawn against lines of credit or credit card accounts will be returned un-deposited. |
| All checks received after the pre-printed expiration dates will be returned un-deposited. |
| Unsigned checks and checks made payable to MB Trading will be returned un-deposited. |
| Any items drawn in foreign currencies or against a foreign bank will be sent for collection. The customer will not be credited for deposit until the bank has collected the funds from the foreign institution and covers Penson for the item converted into USD funds. |
| Checks will be deposited only after funds have been verified at the paying bank. In the event that funds are not sufficient the check will be returned to you. In the event that we are unable to verify funds, the check will be placed on hold for 12 business days. To expedite the release of funds, you may fax us a verification of deposit from your bank or have a bank representative contact our cashiering department. |
| Funds from ACH deposits cannot be withdrawn for a period of 5 business days to ensure the ACH is not rejected by the sending bank. |
Penalties for Returned ACH and Check Deposits - In the event that a check or ACH deposit is returned unpaid from the paying bank, a $25 fee will be charged and the account will be asked to send funds in an alternate method (wire, cashier’s check, or certified funds). The following penalties will be enforced for any check deposited into a customer account that is returned unpaid by the paying bank regardless of the reason for the return:
• 1st returned deposit for any reason results in a warning. However we will require alternate method of deposit.
• 2nd returned deposit for any reason results in a 90 day restriction of the account
• 3rd returned deposit for any reason results in account closure for 90 days (liquidating transactions only). |
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Open an Account
Deposits
