Q1. How long will it take to open my account?
Q2. How do I open an account with Pinnacle?
Q3. Do you offer assistance with completing the required account paperwork?
Q4. Where do I send my completed paperwork?
Q5. How long will it take to fund my new account and begin live trading?
Q6. Who does Pinnacle clear through?
Q7. Is my money safe? Will my account be covered by SIPC?
Q8. Does your system have a real time money management system?
Q9. How can I deposit or withdraw cash?
Q10. Does your clearinghouse offer free check writing?
Q11. What interest do you pay on cash balances in an account, or money market if a cash balance is automatically put into a money market fund?
Q12. How detailed are your statements for an account? Are these monthly, quarterly, yearly or a combination of the above?
Q1. How long will it take to open my account?
Pinnacle should have your account opened within 24 hours of receiving your paperwork. You will be notified by email as soon as your account is open. As soon as your account is opened you can fund your account and begin live trading. Please note that we cannot open your account unless we received completed paperwork and any additional required documents.
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Q2. How do I open an account with Pinnacle?
Simply print and fill out the forms in our account opening section for the type of account you require. Please call us at (919) 850 0888 if you have any questions.
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Q3. Do you offer assistance with completing the required account paperwork?
Pinnacle's experienced staff can assist you with the account opening process. Simply email your questions to accounts@pcmtrading.com or call us at (919) 850 0888 with any questions.
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Q4. Where do I send my completed paperwork?
Fax: You may fax your paperwork to (919) 850 9914 for expedited processing. However original paperwork must be received by mail.
Mail: All paperwork must be mailed to:
Pinnacle Capital Markets
4700 Falls of the Neuse, Suite 390
Raleigh, North Carolina, USA,
27609
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Q5. How long will it take to fund my new account and begin live trading?
The time frame varies depending on how you fund your account. Wiring funds into your new account should only take 1-2 days. Sending a check is also a very quick way to fund your account. If you plan to transfer stock and or cash from another brokerage account, it may take several days to a week.
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Q6. Who does Pinnacle clear through?
Pinnacle clears through Penson Financial Services, a privately held company. Founded in 1989, Penson Financial Services, Inc (PFS) is well capitalized with assets in excess of $200 million and equity capital of over $100 million. For more information on Penson Financial Services visit their website at www.penson.com.
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Q7. Is my money safe? Will my account be covered by SIPC?
Penson Financial Services, Inc., and Pinnacle are members of the Securities Investors Protection Corp. (SIPC). This industry group offers protection against the financial insolvency of its member firms. Each account is protected up to $500,000 (maximum $100,000 cash). Penson is capitalized through an affiliation with a Texas life insurance group that has assets of over $200 million and equity capital of over $100 million. PFS has obtained additional insurance coverage of $24.5 million in excess of SIPC. This includes $900,000 maximum claim on cash, purchased through Lloyds of London. Important Note: This protection does not cover trading losses.
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Q8. Does your system have a real time money management system?
Yes, PeakAccess, PeakLite and PeakOne all allow you to view your equity and market value as well as profit/loss in real-time during the day. Our clearinghouse, Penson Financial Services, offers a special secured website for clients. The Penson client site allows you to view your daily trading information:
• Equity
• Market value
• Positions
• Intra-day buying power
• Overnight buying power
• Confirm Reports
The Penson website also gives you access to comprehensive historical information such as Cash History, Trade History, Profit and Loss reports. They offer downloadable versions of the Cash History (.txt format), Trade History (.txt format), and Profit and Loss reports (.pdf format). You can also download your Trade History into Quicken.
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Q9. How can I deposit or withdraw cash?
Please visit the Accounts section of the Pinnacle website for details on all cash activities. You can withdraw or deposit funds by cash, wire or stock transfer.
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Q10. Does your clearinghouse offer free check writing?
Yes, Penson offers free money market checking. The starter pack of 50 checks is free. There is a fee to reorder checks, $10.00 for 200 checks.
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Q11. What interest do you pay on cash balances in an account, or money market if a cash balance is automatically put into a money market fund?
Interest rates are subject to daily fluctuation. Please visit the interest rate section of the Pinnacle website for details on rates and calculations.
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Q12. How detailed are your statements for an account? Are these monthly, quarterly, yearly or a combination of the above?
You will receive trade confirmations for each day that you trade.
You will receive monthly statements, which show every trade as well as cash deposits and withdrawals. You will receive a year-end 1099 statement.
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