The cost to borrow located shares overnight for the 1st night will be 4x times the average charged locate rate. For example, if 100 shares were located for 0.01 per share and another 100 shares are located for 0.02 per share, the cost to borrow 200 located shares overnight will be:
The cost to carry an overnight borrow for every night after the 1st night will be 1x the original average charged locate. For example:
*if an account receives a Reg Sho Notice, the shares receiving the notice, no matter whether a 4x or 1x fee was paid, will need to be liquidated as per instructions.
These changes are a/o 7/14/2021
When is the last day to open an Options trade?
Options positions may be opened up to 1:59 pm est on the day of expiration.
How to withdraw funds?
You can withdraw your money in your personal account in the Withdraw Section.
Is there a minimum sum for withdrawal?
Yes, a minimum amount you can request for a withdrawal is 90% of your traded account in US Dollar.
How fast is my withdrawal processed?
You can withdraw your money in your personal account in the Withdraw Section.
Is there a minimum sum for withdrawal?
Withdrawal requests are processed instantly. Other transactions are approved and paid within 48 business hours.
Who manages the funds?
Our team of investment experts manage all the funds.
Are there risks to lose money?
There are certain risks in any investment programs. However, there are some simple ways that can help you to reduce risks of losing your money. First, set a certain financial goal and deposit such sum of money that you can afford. Remember that our expert trading team is always ready to consult you in any questions.
How to check my account balance?
You can check your balance in your personal account any time you need.
May I make additional deposits?
Yes, but note that all the transactions are handled separately.
May I create a deposit from my account balance?
Yes. Just login to your account and click on Deposit. You should select the payment option suffix from the payment menu.
How is the interest calculated?
Your interest is calculated every business day based on the size of your deposit.
How fast are my deposits added to my account?
Your account is credited once payment is confirmed and it is from a few minutes.
What payment systems do you use?
We accept Western Union, Moneygram, Bitcoin, Paypal, Bank deposit.
What is the process of investing?
To make investments you should register, create an account and then you can make your deposit. All the investments are made in your personal account after login.
What firms are used to locate stock?
Vision, Convergex, and others.
How does Altcapitalx profit from free limit orders?
The Altcapitalx smart router will route the non-matched orders to market centers that provide payment for order flow or rebates. These market centers include ARCA, EDGX, BATS, NSDQ and others.
How does Altcapitalx make money if it offers $0 commission?
Rebates are paid for order flow by various market centers including EDGX, ARCA, and NASDAQ.
If Altcapitalx is directing my trade, will I still get the best possible execution price?
As Altcapitalx offers US market access and clears through a US clearing firm, Altcapitalx is subject to Reg NMS. This basically states that firms are obligated to provide investors with executions at the best possible price. To read more about Reg NMS on Wikipedia, click here.
How can I always pay $0 in commission with my trades?
It doesn’t matter if you are long or short, as long as you use a limit order to execute away from the market, and the stock is trading at $1 or higher in share price.
Who is the clearing firm?
Vision Financial Markets. Vision is a US based clearing firm registered with FINRA and the Securities and Exchange Commission. http://www.vfmarkets.com/
Does Altcapitalx charge any routing fees?
No, all fees are either $.005 per share or free. There are no additional routing fees.
What are the client support options?
Phone support is available from 8am to 6pm eastern time. Web chat is available 24 x 7.
Does the demo provide real time data?
The free demo provides streaming 15 minute delayed data. Demo executions DO NOT in any way reflect live trading executions. They should not be used as a metric for how live trading works or executes in any way.
Are there any day trading restrictions?
There are NO Pattern Day Trading restrictions. Accounts with $500 or more are approved for margin and can daytrade without restriction.
Is Altcapitalx Bahamas insured by SIPC?
Altcapitalx holds Professional Indemnity and Excess SIPC Insurance through Lloyds of London Syndicates Arch, AXA XL and Kiln . The Excess SIPC coverage is limited to $250K per account.
The short list is extensive and derived from multiple pools of easy to borrow lists, including Vision and Convergex. Hard to borrow shares can also be located for a fee.
How much is needed to open a new account?
Accounts can be funded with as little as $1,000 for 1 to 1 leverage, $5,000 to $9499 for 4 to 1 leverage and $10500+ for 6 to 1 leverage.To read more about account leverage, please click here
How are clients able to see what stocks are shortable?
The short list is imported daily into the trading platform. If the stock permissioned to be shorted the platform will show a green S next to the symbol box.
I do not have experience trading, but I am curious and I want to learn, can you help?
Altcapitalx has education partner relationships that can help with trading education. Altcapitalx can provide you a real-time demo that will allow you to trade the stock market and not lose a single penny!
What are the short locate fees?
The fees are quoted per share. The rate is determined by the difficulty to borrow the stock on that day.
How can I become an associate of Altcapitalx?
At Altcapitalx our door is always open to new relationships. Please contact us if you would like to be part of the Altcapitalx team. We offer all our associates unlimited earnings potential. Learn more by clicking here.
Get started today and become one of our trusted partners.
Can I hold more than 2 to 1 equity after 4pm?
All levered accounts cannot hold more than 2 to 1 leverage after 3:45 PM EST. Altcapitalx reserves the right, at its discretion, to sell or cover any account that has exceeded this threshold, by or after the 4PM EST close. All levered accounts are limited to only 2 to 1 in the after-hours session.
Can you set a daily loss limit on my account?
Yes, we have risk tools and can enable a daily loss limit to your trading account. Please note that daily loss limits are only active from 8:30 a.m. est to 5 pm est. Sellouts will not occur during the premarket hours of 4 a.m. est to 8:29 a.m. est and 5:01 pm est to 8 pm est in the after hours session. This daily loss limit does not 100% guarantee against any loss. Clients should still be monitoring their trading accounts actively. Orders such as Stop Loss order should also be used when trading.
How can I fund my account?
Funding of accounts are made by (direct) bank to bank wire transfers. We currently do not allow for alternative options such as paypal, debit or credit card funding. Also,the name appearing in the bank account from where the funds are transferred must be the same as what is on file with us. Please note Third Party Funding is not accepted.
Does Altcapitalx pay dividends?
No, we do not pay dividends. Accounts that hold securities short on ex-dividend date will be charged the dividend.
When does my buying power update for the new trading day?
7AM eastern standard time.
Do you offer Pre and Post market trading?
Yes, Pre-market trading begins at 4 am eastern, and Post-market trading ends at 8 pm eastern time.
Can I freeze or put my account on hold so I do not pay software fees?
Yes, your account can be placed on hold or switched to our AltcapitalxFREE platform so you do not incur any software fees when taking time away from trading. Please make sure you switch or cancel your software before 4PM on the last business day of the month. All accounts with less than $99 equity will automatically have ID frozen on last day of the month.
Do I need funds in my account to select my trading software?
Accounts must have a minimum balance of $200.
Is Altcapitalx insured?
Altcapitalx holds Professional Indemnity and Excess SIPC Insurance through Lloyds of London Syndicates Arch, AXA XL and Kiln . The Excess SIPC coverage is limited to $250K per account.
Cash accounts and accounts with less than $500 cannot short sell
Stocks below $3 are trading in cash only
Stocks less than $0.10 cannot be traded
Margin accounts must be at 2 to 1 after 3:45 PM EST
Position Concentration is maximum 65% of margin buying power for accounts with 6 to 1 leverage
Margin buying power after 4PM is 2 to 1
Accounts will be fully sold out if they go below $99 in total equity remaining. Accounts may be sold up to 50% equity if they drop below 8% equity at any time. Accounts will be fully sold out to if they drop below 8% and $300 in total equity remaining.
All of the above is at the discretion of management and can and will be adjusted based on real time market and account conditions.
What are the minimum specifications for running ZeroPro?
Win7 SP1+ (no Mac)
.Net Framework 4.6.2+
Can you use the platform on Mac OSX?
Yes, AltcapitalxWeb and AltcapitalxFREE can be used on a Mac via Google Chrome and or Mozilla FireFox, please do not use it with Safari. AltcapitalxPro version would require Windows emulation, Parallel PC to run on Mac.
How does Altcapitalx handle options contracts on the expiration date?
To minimize risk we may close option positions in the last 30 minutes of trading on the day of expiration.
How are corporate actions handled in my Altcapitalx account?
Corporate actions on a security resulting in stock splits, mergers or name changes will be removed from the trading platform after 4:00 pm est, the day before the corporate action is to occur. The securities will be replaced in your trading platform after confirmation of the correct shares, symbol or action to be taken with the clearing house.
It is the client’s responsibility to be aware of pending corporate actions and how such events will affect their outstanding portfolio. Altcapitalx charges $35.00 for processing corporate actions.
Can I limit the amount of shares per order?
Yes, share size limits may be set and must be requested through the live chat or by e-mail to [email protected]
What does Marked to Market mean?
Marked to Market is an industry standard accounting method of keeping track of the p/l on your overnight or long term position(s). The closing price at 4 pm est is used to determine the unrealized profit or loss on your position. This amount is added or subtracted from your equity daily. This method is also used if you enter a position after 4 pm est. You can read about this method further using the following link - https://www.investopedia.com/terms/m/marktomarket.asp
Does Altcapitalx offer Options trading?
Yes, Altcapitalx presently offers single legged trading at this time. Multi legged trading will be available in the near future. Approvals are only provided for level 1 and level 2 trading.
What are the reasons my Options position(s) may be sold out?
Positions may be sold out for the following reasons:
Contracts are not fully held in cash (less than 100% equity)
Contracts held where the equity level is below $99
Contracts that are in the money at 3:45 pm est on the expiration date
Are there any fees associated with Options trading?
Yes, the fees related to Options trading are as follows:
Per contract - $0.59
Options Clearing Corp (OCC) fee - $0.055 per contract
Options Regulatory (ORF) fee - $0.0388 per contract
Options Exercise or Assignment - $35.00
What is the requirement for choosing my own route for my trades (ARCA. EDGX etc)
An approved account with at least $5,000 in equity and presently on a live platform is needed to request a manual routing account. Once these requirements have been met, an e-mail may be sent to [email protected] for processing. Free Trading does not apply with direct routing.
On which date are the monthly statements available for review and/or download?
Statements are issued on the 5th of each month.
How can I get my first month FREE?
In order to take advantage of the FREE month offer, please note the following:
You must choose AltcapitalxPro as your first software selection (any other selection may be subject to a software fee)
The month that you subscribe is considered your free month, and will not carry over to the following month if you subscribe before the 25th.
All subscriptions after the 25th of the month will get the rest of the current month for free as well as the following month. All switches to another platform will void your free month - this includes switches to real-time data demos
