How do I open an Account?
Follow the instructions on the open account page. If you
have any questions about the account opening procedure please
contact one of our support representatives at (909) 396-8899.
Are you SIPC insured?
Global-American Investments is a member of the Securities
Investor Protection Corporation (SIPC). The SIPC is an independent
corporation that is used to help meet customer claims in the
event a broker-dealer fails. SIPC funds are available to meet
customer claims up to a maximum of $500,000 in cash and securities,
with a $100,000 cash maximum. Coverage does not insure against
market loss or any other risk except the failure of the broker-dealer
or its clearing firm.
In addition, Penson Financial Services Inc. has purchased a supplemental insurance policy
for an additional $10,000,000 to protect customers in the
event of Penson Financial Services' failure.
Who is Computer Clearing Services?
Penson Financial Services Inc. clears our securities transactions and handles all of the
cash and securities for our customers. Penson Financial Services Inc. has been a leader
in the online trading business and with their extensive data
infrastructure, they continue to provide efficient clearing
services. For more information on Penson Financial Services Inc., visit them at www.penson.com.
What are Global-American Investments account requirements?
There are two requirements to open Global-American Investment's
account.
1. Financial Suitability: Global-American Investment's
clients must be able to withstand the risks associated
with active trading. Therefore, you must be able to certify
that you meet or exceed the following: U.S. $35,000 annual
income AND U.S. $50,000 liquid net worth*.
( * Liquid net worth is exclusive of
primary residence or farm. It may also not include real
estate, collectibles, or other items that may be of value
but cannot be readily converted to cash.)
2. Minimum Equity: Initial funding requirements for non-day
trading accounts is a minimum of $10,000 cash or net equity
in freely transferable securities or a combination of
both. An initial funding and maintenance requirement for
pattern day trading accounts is US$25,000 per regulatory
requirements. We recommend a higher initial deposit for
more flexibility in trading activities.
When can I start trading?
Once Penson Financial Services Inc. has received your funds, you will be emailed with
both the link and a password. After you have downloaded and
installed the software on your computer, you may use this
password to make trades.
How do I withdraw money from my account?
There are several options for withdrawing funds from your
account. If you have any question or need assist withdrawing
funds please call our service desk at (909) 396-8899.
By Check:
1. Fill out a check
request form.
2. Fax the completed and signed form to 909-396-1883.
You can expect to receive the check within 2 to 3 days.
By Wire:
1. Fill out a wire
request form.
2. Fax the completed and signed form to 909-396-1883.
The funds will be wired to your account on the same
day if our office receives the request before 10:00 am
Monday to Friday (PST).
Can I download the software before my account is funded?
Yes, you can download and install the software before you
account is sufficiently funded. However, you will be unable
to trade until you properly fund the your account at Penson Financial Services Inc.and
have received the software trading password from Global-American
Investments by email.
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Account
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