DISCLOSURES

Account Protection

Your Investrade account is protected by the Securities Investor Protection Corporation.

Investrade is a division of Regal Securities, Inc., a member of the Securities Investor Protection Corporation (SIPC). Your account assets are covered by the SIPC, which protects customers of its members up to $500,000, with a limitation of $250,000 on claims for cash balances. Additionally, our clearing firm, Hilltop Securities, Inc. “HTS” has purchased Excess SIPC Insurance which covers the net equity of customers’ accounts up to an aggregate of $150 million from underwriting syndicate at Lloyd’s of London.

The customer securities component, which restricts coverage with respect of any one customer, is a maximum of $25,000,000 with the aggregate coverage of cash set at $900,000. SIPC and Excess SIPC covers accounts of the member firm in the event of a member’s bankruptcy and insolvency. Coverage does not apply to losses due to market fluctuation or any decline in market value of your securities. For additional information regarding SIPC coverage, including a brochure, please contact SIPC at (202) 371-8300 or visit www.sipc.org.

Anti-Money Laundering Policy

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. This notice answers some questions about our firm’s Customer Identification Program (CIP).

WHAT TYPES OF INFORMATION WILL YOU NEED TO PROVIDE?

When you open an account, our firm is required to collect information such as the following: your name, address, date of birth, Identification number:

(a) US Citizen: taxpayer identification number (social security number or employee identification number), or (b) Non-US Citizen: taxpayer identification number, passport number, and country of issuance, alien identification card number, or government- issued identification showing nationality, residence, and a photograph of you. You may also need to show your driver’s license or other identifying documents.

A corporation, partnership, trust or other legal entity may need to provide other information such as its principal place of business, local office, employer identification number, certified articles of incorporation, government issued business license, a partnership agreement or a trust agreement.

US Department of the Treasury, Securities and Exchange Commission, FINRA and New York Stock Exchange rules already require you to provide additional information, such as net worth, annual income, occupation, employment information, investment experience and objectives, and risk tolerance.

WHAT HAPPENS IF I DON’T PROVIDE THE INFORMATION REQUESTED OR MY IDENTITY CAN’T BE VERIFIED?

Our firm may not be able to open an account or carry out transactions for you.

Auto Trading

Investrade does not advise, consult or assist any advisor with respect to the content, recommendations or strategies contained in any advisor or trade alert published by any advisor.

Options involve risk and are not suitable for all investors. Prior to trading options, you must be approved for options trading and read the Characteristics and Risks of Standardized Options. A copy may also be requested via email at support@investrade.com or via mail to Investrade, 950 Milwaukee Ave., Ste. 102, Glenview, IL 60025. Online trading has inherent risks due to loss of online services or delays from system performance, risk parameters, market conditions, and erroneous or unavailable market data.

Before making a decision to engage in Auto Trading you should perform the due diligence necessary to ensure that the concept of Auto Trading is compatible with your investment strategy. If you open an account with Investrade to engage in auto trading, Investrade will not review, in any manner, your choice of a newsletter or advisor nor the trading methodology or investment strategy you implement for your auto trading account. Nor, will Investrade be responsible for reviewing any of the transactions executed in your account. There is no “safe” or “guaranteed” trading strategy. INVESTRADE DOES NOT TRACK THE PERFORMANCE OF ANY NEWSLETTER OR ADVISOR.

Investrade recommends you read the following SEC release concerning the risks of auto trading: http://www.sec.gov/investor/pubs/autotrading.htm.

As an Auto Trader your investment object is speculation and will be recorded as such in Investrade’s records. Investrade’s sole responsibility will be to execute transactions for your account. You must assure Investrade that the funds you intend to invest in Auto Trading are funds that you can afford to lose without impacting your standard of living. Investrade makes no warranties or representations concerning any newsletter, advisor or auto trading strategy; nor does Investrade, by implication, or otherwise endorse any newsletter or advisor (including those listed on this web site) or any methodology, strategy or philosophy but is merely providing you with a listing of various entities that provide auto trading information.

Additional Auto Trade Disclosures:

Investrade cannot be held responsible for any lost profits, trading losses or other damages due to loss of online service, communication delays or any delay in the receipt of trade alerts, by fax or otherwise by your newsletter or advisor. You are subject to risk from errors of electronic systems, communications and market timing.
No other party, including your advisor, can start, stop or change your autotrading status. Autotrading will continue in your account indefinitely until your subscription expires with the autotrading service and they notify Investrade, you notify Investrade of a change or your account lacks sufficient equity. As a courtesy to our customers, Investrade will close existing auto trade positions for expired subscription accounts unless the customer notifies Investrade prior to an order being entered.
Investrade is not responsible for the privacy practices of other web sites, nor does it endorse the accuracy or content of the products of such web sites. Use of these sites and services is at the user’s own risk, and without guarantee or warranty of any kind from Investrade .

Auto Trade Terms & Conditions

Investrade offers Auto Trade services solely for the exclusive use of its customers. Customers who enroll in Investrade Auto Trade services are authorizing Investrade to purchase and/or sell securities in accordance with the instructions in their signed Auto Trade Limited Trading Authorization form AND to place in their accounts standing orders based upon the instructions and recommendations of an unaffiliated third party financial newsletter to which the customer has previously subscribed. Investrade will effect transactions for the customer’s account without further authorization from the customer.

This Auto Trade Terms and Conditions Agreement requires the customer to evaluate his/her own investment strategies and objectives, and carefully select a financial newsletter that meets these criteria. It is the customer’s responsibility to review the financial newsletter publisher’s experience, credentials, and performance. Investrade does not review these factors, and does not rate, rank, or endorse any financial newsletter or publisher. Inclusion of a financial newsletter in the Investrade Auto Trade program does not constitute a recommendation of any kind. Investrade does not require financial newsletter publishers to be registered under the Investment Advisors Act of 1940. Your financial newsletter publisher may or may not be registered and inclusion in the Investrade Auto Trade program does not imply that they either are or are not required to be so registered. Investrade is independent and has no affiliation or ownership interest in any financial newsletter or publisher. Investrade will contact the third party financial newsletter publisher to verify a customer’s subscription and request proof of active membership by verifying the customer’s name and basic identifying information.

Investrade will apply a commission rate of $2.00 for equities and $3.99 + $.10/contract for options, per execution. This commission rate will only be applied to Auto Trade orders physically entered by Investrade Auto Trade desk and does not apply to customers who enter their trades directly into the Investrade platform and are not utilizing the Auto Trade desk.

Each Auto Trade customer must carefully read, sign, understand, and consent to the terms of the Auto Trade Limited Trading Authorization form and must provide accurate information and instructions. It is the customer’s responsibility to review and immediately notify Investrade in the event that the customer’s personal and/or financial information changes. It is the customer’s responsibility to monitor and review all trade activity, including updating and maintaining accurate instructions on file with Investrade . If the subscription to the financial newsletter publisher expires, is canceled, or if the customer wishes to terminate his/her subscription, the customer is responsible for cancelling each Auto Trade service with Investrade by completing these changes via our electronic, web-based platform.

Investrade will not record the expiration date of your financial newsletter subscription. Investrade will continue to process orders for a customer in accordance with the customer’s instructions unless the customer makes the required changes via the secure, web-based trading platform or the customer’s account lacks sufficient equity. Investrade will not be held responsible or liable for any Auto Trade executions that occur due to the customer not cancelling his or her Auto Trade services.

Investrade does not review, evaluate, monitor, rate, or endorse financial newsletter publisher service’s performance or the appropriateness or quality of the recommended alerts and transactions for customer’s account. Investrade acts only upon specific instructions and performs in an executing broker capacity. Investrade does not exercise at any time, discretion over customers’ accounts.

Auto Trade customers are responsible for evaluating and understanding trade alerts, advice, instructions, underlying strategies, and to be familiar with risks associated with his/her financial newsletter subscription and participation in the Investrade Auto Trade program.

At any time, Investrade in its sole discretion may discontinue or cease to permit a financial newsletter from active participation in Investrade Auto Trade services and to not honor recommendations or alerts from any financial newsletter. If a financial newsletter is no longer actively participating in Auto Trade, Investrade customers who receive such financial newsletter alerts or other communications will be alternatively required to directly enter all orders themselves, rather than utilizing the Investrade’s Auto Trade service. Investrade will give notice to customers of these financial newsletter publishers that are no longer participating in Investrade Auto Trade services.

Due to the nature of communications, technology systems, order processing and other factors involved in Investrade Auto Trade functions and processing, customer orders may be processed with delays that may not occur if a customer enters an order directly themselves without using Auto Trade. Investrade may group orders entered by multiple customers utilizing the same financial newsletter and send a single order to the marketplace. If the group order is not completely filled, Investrade will allocate the partial fill among this group of customers on a prorated basis. The Investrade Auto Trade services are furnished on a best efforts basis.

Customers are responsible for any and all risks associated with Auto Trading, including without limitation, requirements for additional funds and errors of electronic and market systems and processes. Customers using Auto Trade are expressly agreeing to Investrade’s handling of orders as described within these Terms and Conditions.

Auto Trade customers agree to understand and follow the trade recommendations of the financial newsletter publisher in full, including all opening and closing trades. Customer should not modify or cancel any Auto Trade orders online. If a customer modifies a position created with Auto Trade, the customer will be held responsible for that position, including instances when his/her account becomes oversold or overbought.

Auto Trade orders may be subject to rejection for multiple reasons, including but not limited to, erroneous system rejection, potential unsettled fund violations, day trade violations, or additional regulatory violations that, if closed instantly, would place trading restrictions on the account. The customer agrees to review their activity webpage at Investrade.com for monitoring daily trades, including but not limited to reviewing all positions.

At any time, and without prior notice to customers, Investrade reserves the right to amend the Auto Trade Terms and Conditions. A customer’s continued Auto Trade participation after such amendment constitutes acceptance to be bound by all amendments to the Auto Trade Terms and Conditions, regardless of whether a customer has actually reviewed them. The most recent version of the Auto Trade Terms and Conditions will be made available on the Investrade web site. Investrade reserves the right to terminate Auto Trading at any time.

Occasionally, Investrade may enter into an advertising and/or marketing agreement with a financial newsletter publisher for which it provides Auto Trade services. The commencement or existence of an advertising and/or marketing agreement does not constitute a recommendation, affiliation or endorsement of any financial newsletter’s service by Investrade .

ADDITIONAL DISCLOSURE RELATED TO ACCOUNTS TRADING OPTIONS:

The customer understands that there are special risks associated with engaging in options transactions and that options can be volatile and could possibly subject the customer to a risk of total loss. The customer understands and acknowledges that options are suitable only for knowledgeable investors who understand the risks inherent in such securities, have the financial capacity and willingness to incur losses, and have sufficient liquid assets to meet applicable margin requirements.

The customer understands that options involve risk and are not suitable for all investors, and a current copy of the Characteristics and Risks of Standardized Options provided by the Options Clearing Corporation (OCC), may be obtained by calling Investrade at 1-888-793-5333 or by mailing a request to Investrade , 950 Milwaukee Ave., Ste. 102, Glenview, IL 60025, or at the link [http://www.optionsclearing.com/about/publications/character-risks.jsp].

The customer confirms that he/she has received and read the booklet entitled Characteristics and Risks of Standardized Options in advance of having any options transactions entered in my account and I have paid particular attention to the chapter entitled “Risks of Buying and Writing Options.” This statement is not intended to enumerate all of the risks involved in options. In light of the information provided by the customer on his/her account application, it may be interpreted that based on your investment experience, or lack thereof, that options trading may be more risky than investments you have made in the past. The undersigned acknowledges that I have received, read, and understood the Options Risk Disclosure documents, and agree to indemnify and hold harmless Investrade and its agents and representatives for the results of trading in the customer’s account in regards from, and to pay Investrade and its agents and representatives, promptly on demand, for any and all losses, costs or expenses incurred in connection with the use of the services (including any debit balance) as it relates to transactions in my/our account. This authorization (including this indemnity provision) is in addition to (and in no way limits or restricts) any rights which Investrade may have under any other agreement(s) with the undersigned.

Investrade Auto Trade accounts are subject to additional risks, including but not limited to, those listed above in the Auto Trade Terms and Conditions. You must have your account investment objective designated as ”Speculation” in order to be enrolled in Investrade Auto Trade services. Auto Trade is only offered to accounts that have designated their investment objective as “Speculation”. By signing this form you accept, and are requesting that your account investment objective be updated to “Speculation”.

Business Continuity Plan

Investrade is a division of Regal Securities, Inc., a broker/dealer and member of the FINRA. NASD Rule 3510 requires each member firm to create and maintain a business continuity plan (BCP). Accordingly, Regal has developed a plan to ensure that business continues to run uninterrupted during business emergencies. Click on the link below for a brochure that summarizes Regal’s Business Continuity Policy.

Business Continuity Policy Summary

Commissions

Important Note: Modifying a partially executed order, also known as a cancel/replace, is considered a new order and will incur a separate commission if the modified order is executed.

[1] Option rates apply to each side of spread orders. Option strategies involve multiple purchases; therefore your transaction costs may be significant for option strategy trades. Option orders that receive partial fills on separate trading day will be charged the base option rate for each day in addition to the per contract rate.

[2] Select proprietary index options may incur additional fees. Please check our Brokerage Fees page for further details.

Customer Relationship Summary (Form CRS)

In accordance with requirements from the Securities and Exchange Commission and the Financial Industry Regulatory Authority, effective June 30, 2020, please see the Customer Relationship Summary (“Form CRS”) from Regal Securities, Inc. Investrade is a divison of Regal Securities.

We have also added Additional Disclosures to supplement the Form CRS, in accordance with Regulation Best Interest (or “Reg BI”).

Daily Market Report & Insights

Investrade content, education, insights and commentary are provided for educational and informational purposes only and do not claim to be actionable for investment decisions. Investrade cannot attest to its accuracy or completeness. Any investment product, educational material, statistic, quote or other representation about a product or service should be verified. Information provided does not constitute a recommendation by Investrade to buy or sell or hold a particular investment or any other product or service.

Day Trading Margin Rules

The New York Stock Exchange (NYSE) and the Financial Industry Regulatory Authority (FINRA) have filed amendments to NYSE Rule 431 and NASD Rule 2520 with the Securities and Exchange Commission (SEC) which increase margin requirements for active security traders. As a result, effective August 27, 2001, all accounts identified as pattern day traders will be required to maintain a minimum of $25,000.00 in account value at all times. Pattern day traders whose account value falls below the $25,000.00 requirement must deposit the funds necessary to meet the account value minimum before normal trading can resume.

PATTERN DAY TRADERS

Under the amendments, “pattern day traders” are defined as those customers who day trade (buy and sell the same position within the same trading day) four or more times in five business days. In addition, if Investrade knows or has a reasonable basis to believe that a client is a pattern day trader, the customer must be designated as a pattern day trader immediately, instead of delaying such determination for five business days. As with margin accounts, retirement accounts approved for spread and cash secured put trading can also be designated as a pattern day trader.

SUMMARY OF RULE 431:

A pattern day trader is defined as any customer who executes four or more day trades within five business days, provided the number of day trades is more than 6% of the total trades in the account during that period.
Any accounts engaging in pattern Day Trading activity are subject to a minimum account value requirement of $25,000. Pattern Day Trading accounts with less than $25,000 in account value will not have any buying power until the minimum account value of $25,000 has been met.
The sale of an existing position from the previous day and subsequent repurchase is not considered a day trade.
Day trading buying power for equity securities in a margin account will be 4 times the NYSE excess as of the close of business on the previous day, and the time and tick method of calculating Day Trading is acceptable.
Pattern day traders will be prohibited from utilizing cross guarantees to meet Day Trading margin calls or to meet minimum account value requirements.
Deposits of funds to meet minimum account value requirements or to meet Day Trading margin calls must remain in the customer’s account and cannot be withdrawn for a minimum of two business days.
The time and tick method will not be used for day trades executed away from Hilltop Securities, Inc.

Day Trading Risk Disclosure Statement

You should consider the following points before engaging in a day-trading strategy. For purposes of this notice, a “day-trading strategy” means an overall trading strategy characterized by the regular transmission by a customer of intra-day orders to effect both purchase and sale transactions in the same security or securities.

Day trading can be extremely risky. Day trading generally is not appropriate for someone of limited resources and limited investment or trading experience and low risk tolerance. You should be prepared to lose all of the funds that you use for day trading. In particular, you should not fund day-trading activities with retirement savings, student loans, second mortgages, emergency funds, funds set aside for purposes such as education or home ownership, or funds required to meet your living expenses. Further, certain evidence indicates that an investment of less than $50,000 will significantly impair the ability of a day trader to make a profit. Of course, an investment of $50,000 or more will in no way guarantee success.
Be cautious of claims of large profits from day trading. You should be wary of advertisements or other statements that emphasize the potential for large profits in day trading. Day trading can also lead to large and immediate financial losses.

Day trading requires knowledge of securities markets. Day trading requires in-depth knowledge of the securities markets and trading techniques and strategies. In attempting to profit through day trading, you must compete with professional, licensed traders employed by securities firms. You should have appropriate experience before engaging in day trading.
Day trading requires knowledge of a firm’s operations. You should be familiar with a securities firm’s business practices, including the operation of the firm’s order execution systems and procedures. Under certain market conditions, you may find it difficult or impossible to liquidate a position quickly at a reasonable price. This can occur, for example, when the market for a stock suddenly drops, or if trading is halted due to recent news events or unusual trading activity. The more volatile a stock is, the greater the likelihood that problems may be encountered in executing a transaction. In addition to normal market risks, you may experience losses due to system failures.

Day trading will generate substantial commissions, even if the per trade cost is low. Day trading involves aggressive trading, and generally you will pay commissions on each trade. The total daily commissions that you pay on your trades will add to your losses or significantly reduce your earnings. For instance, assuming that a trade costs $16 and an average of 29 transactions are conducted per day, an investor would need to generate an annual profit of $111,360 just to cover commission expenses.

Day trading on margin or short selling may result in losses beyond your initial investment. When you day trade with funds borrowed from a firm or someone else, you can lose more than the funds you originally placed at risk. A decline in the value of the securities that are purchased may require you to provide additional funds to the firm to avoid the forced sale of those securities or other securities in your account. Short selling as part of your day-trading strategy also may lead to extraordinary losses, because you may have to purchase a stock at a very high price in order to cover a short position.

Potential Registration Requirements. Persons providing investment advice for others or managing securities accounts for others may need to register as either an “Investment Advisor” under the Investment Advisors Act of 1940 or as a “Broker” or “Dealer” under the Securities Exchange Act of 1934. Such activities may also trigger state registration requirements.

FINRA Conduct Rule 2361. Day-Trading Risk Disclosure Statement

Direct Access Trading

Option rates apply to each side of spread orders. Option strategies involve multiple purchases; therefore your transaction costs may be significant for option strategy trades.

Foreign stock orders are $39.00.
Investrade customers must maintain a minimum of $25,000 in equity in order to use Sterling Trader Pro and the DAS/Web and DAS/ PRO platforms.

Short option day trades executed by pattern day traders (PDT) will be subject to naked requirements unless an intraday hedge exists. If the option is classified as “hedged” or “strategy,” the greater of the net premium of the strategy requirement will be charged. The following strategies qualify as an intraday hedge for the purpose of day trade calculations: Debit spreads, Credit spreads, Box spreads, Long and short butterflies including calendar butterflies, Calendar spreads, Condors including calendar condors, Long and short iron butterflied including calendars, Covered calls and puts. Money market funds are not applied towards calculating day trade buying power. Please contact us to have money market funds journaled to the margin type prior to the effective date if you would like to use all funds to calculate day trade buying power. Also, please note it is necessary to shut off sweeps to money market upon trade settlement in order to use all available funds to day trade without interruption. This request must be in writing with a signature.

Direct Access Trading involves additional fees and risk.

Investrade mobile

By accessing the Investrade mobile application (“App”) you acknowledge your agreement to the Investrade Privacy Policy and Investrade User Agreement. Nothing contained herein should be considered an offer to buy or sell any security or securities product and all trade orders placed are at your sole risk and responsibility. Online trading, including the use of the Investrade mobile application has inherent risks due to loss of online services or delays from system performance, risk parameters, market conditions, and erroneous or unavailable market data. Investrade will not be responsible for damages caused by communication line failures, unauthorized access, theft, interception of any data or communications or systems failure.

Investrade Paper Trading

Investrade Paper Trading allows prospective investors to simulate trading strategies with virtual funds in a practice environment. Investrade Paper Trading is solely an educational tool to become familiar with the Investrade platform; trading results are not indicative of future results you may have when trading live markets.

You are solely responsible for any losses from your reliance on simulated trading for investment decisions and Investrade Paper Trading should not serve as the primary basis for your investment decisions.

Market data in the Paper Trading environment is delayed 15 minutes unless otherwise indicated.

Investrade Paper Trader is a simulated environment and if you inadvertently place live orders in Investrade Trader, you will be liable for all orders that fill.

Extended Hours Trading

Extended Hours Trading specifically refers to stock trading outside Wall Street’s traditional trading hours of 9:30 a.m. to 4 p.m. EST. An Extended Hours order may be placed and executed on one of the Electronic Communications Networks (ECNs). Extended Hours investing involves unique risks that investors should fully understand before placing an order after hours. These risks include, but are not limited to, greater price volatility, less liquidity, and wider bid/ask spreads than during regular market hours. Prior to participating in this unique Extended Hours session, you should review and be aware of the various risks and requirements involved in Extended Hours Trading. While trading in the Extended Hours sessions is not new, in the past it has been a mostly institutional market with institutional traders working primarily on behalf of banks, insurance companies, mutual funds and pension funds.

ELIGIBLE SECURITIES/ORDER TYPES

Extended Hours Trading is provided only in stocks listed on a national exchange and NASDAQ. Investrade does not accept extended hours trades for pink sheet stocks, bulletin board stocks, or options.

PLACING A TRADE

Extended hours trades must be placed as a limit order. Due to the illiquid nature of extended hours markets, market orders are not accepted.

EXTENDED HOURS

Extended hours sessions are:

(Times all in EST)
Pre-Market 8:00AM – 9:28AM
Post Market 4:00PM – 6:00PM
Pre-Market and Regular 8:00AM – 4:00PM
Regular and Post 9:30AM – 6:00PM
All Sessions 8:00AM – 6:00PM
Regular 9:30AM – 4:00PM

NATURE OF EXTENDED HOURS TRADING

ECNs provide a service to investors that want to trade during traditional and nontraditional hours. Since Extended Hours Trading for retail customers is still a relatively small market, many brokerage firms staff for the traditional trading hours, with a smaller staff during the Extended Trading sessions. The availability of customer support staff and other services relating to policies and operations during Extended Hours Trading may also be limited, including access to account information and account representatives and support staff (such as margin clerks and cashiers) especially in the event of heavy Internet traffic, phone usage, or system capacity problems.

Most ECN’s only allow customers to enter limit orders, meaning they will only accept orders to buy and sell at a specific price. If a trade can’t be consummated at that price, the order will expire unfilled. Essentially, the ECN systems simply list orders to buy and sell, and when they detect a match, the system automatically executes the trades. Regardless of whether or not a particular ECN allows market orders or sticks to limit orders only, it is good practice for investors to place only limit orders, thus protecting themselves somewhat from the wide price swings that might occur in the Pre and Post-trading sessions, when trading volume is lower.

Risks of Extended Hours Trading

The risks of Extended Hours trading include but are not limited to:

Limited Liquidity, Lack of Depth and Breath

Liquidity refers to the ability of market participants to buy and sell securities. Generally, the more orders that are available in a market, the greater the liquidity. Liquidity is important because with greater liquidity it is easier for investors to buy or sell securities, and as a result, investors are more likely to pay or receive a competitive price for securities purchased or sold. There may be lower liquidity in Extended Hours trading as compared to regular market hours. Only specific stocks, or groups of stocks, and other securities will be available for trading in Extended Hours sessions. Not all stocks may be traded during Extended trading sessions. Trading volume may be lighter than regular trading sessions, resulting in less liquidity for certain securities. As a result, customers may receive partial executions, or no executions at all.

Increased Volatility

Volatility refers to the changes in price that securities undergo when trading. Generally, the higher the volatility of a security, the greater its price swings. There may be greater volatility in Extended Hours Trading than in regular market hours. As a result, your order may only be partially executed, or not at all, or you may receive an inferior price in Extended Hours Trading than you would during regular market hours.

Inaccurate “Real-time” Quotes

Depending on the Extended Hours Trading system or the time of day, the prices displayed on a particular Extended Hours Trading system may not reflect the prices in other concurrently operating Extended Hours Trading systems dealing in the same securities. There may be multiple, unlinked after hours trading facilities trading the same security. You may receive an inferior price in one Extended Hours Trading system than you would in another Extended Hours Trading system. Accordingly, “real-time” quotes may or may not reflect the true condition of the market. As a protection, only limit orders should be used in after hours trading.

Wider Than Normal Spreads

The spread refers to the difference in price between what you can buy a security for and what you can sell it for. Lower trading volumes and higher volatility, as well as other characteristics of Extended Hours Trading sessions, could result in wider than normal spreads. As a result, customer orders could be executed away from prices that prevailed during regular market sessions, or not be executed at all.

Fragmentation of the Market

There may be multiple, unlinked after hours trading facilities trading the same security but operating independently of one another. Accordingly, investors may pay more or receive less for their securities purchases or sales when trading in a particular after hours trading facility in comparison to the securities primary market or other Extended Hours Trading facility.

Impact of News Announcements

Normally, issuers make news announcements that may affect the price of their securities after regular market hours. Similarly, important financial information is frequently announced outside of regular market hours. In Extended Hours Trading, these announcements may occur during trading. The impact of news announcements immediately preceding or during an Extended Hours session could cause an exaggerated effect on the market due to fewer market participants, less liquidity, and less trading volume than during regular trading sessions. If securities have been halted during the regular trading session, such trading halts will continue to be in effect during the after-hours trading session. No trading halts will be initiated by the after-hours trading session itself during the after hours trading session.

Risk of Changing Prices

The prices of securities traded in Extended Hours Trading may not reflect the prices either at the end of regular market hours, or upon the opening the next morning. As a result, you may receive an inferior price in Extended Hours Trading than you would during regular market hours. Understand what it means to trade on margin. While practiced by many knowledgeable investors, trading with borrowed funds may result in magnified losses, even to the point of exceeding your initial investment.

Trading may have become as easy as “point and click,” but there’s still only one way to invest. Investigate before you invest. Be informed. Invest smart.

Fixed Income

Clients should take special care in understanding all of the risks involved prior to investing in Fixed Income and Structured Products as they are not suitable for all investors.

Although bonds generally present less short-term risk and volatility than stocks, bonds do entail interest rate risk (as interest rates rise, bond prices usually fall and vice versa) and the risk of default, or the risk that an issuer will be unable to make income or principal payments. Additionally, bonds and short-term investments entail greater inflation risk, or the risk that the return on investment will not keep up with increases in the prices of goods and services, than stocks. In this economic environment, please be aware that bond ratings may change and may affect the value of the bond.

Structured products are subject to market, liquidity, interest rate, and volatility risks. Though a structured product can be issued a ticker symbol and be approved for listing on an exchange, an active and liquid trading market may not develop. Limits or caps in the appreciation of the underlying asset can limit upside appreciation while investors are still exposed to downside risk and can lose part or all of their original investment. Returns of principal may not be obtained if the investment is sold prior to maturity, thus an investor may experience loss of principal. Principal protection and payment at maturity is subject to the credit risk of the issuer.

Before purchasing a CD, investors should fully understand all of its terms and carefully read all disclosure statements. For more information about federal deposit insurance, the FDIC offers an online tool, Electronic Deposit Insurance Estimator to estimate your total coverage at any particular bank.

Investrade may act as principal on any fixed income transaction. When acting as principal, Investrade will add a markup to any purchase, and subtract a markdown from every sale. This markup or markdown will be included in the price quoted to you.

All fixed income products are subject to availability. Investrade makes no investment recommendations and does not provide financial, tax or legal advice. You should seek the advice of your independent financial advisor or tax advisor before making any investment and consider your overall financial status, tax status and investment objectives.

Good Faith Violation (“GFV”)

Investrade through its clearing agent Hilltop Securities, Inc. is required to implement policies concerning trading with unsettled funds in cash accounts. Your account can be charged with a Good Faith Violation (GFV) if you sell a security that was purchased with unsettled funds and then sold prior to the settlement of the first sell (see examples below). Three (3) GFV’s in any twelve (12) month rolling period will result in your account being restricted to liquidating transactions only for 90 days.

EXAMPLE:

On Monday customer sells “A” for $1,000, of a long, settled and fully paid for position.
On Monday customer buys “B” for $1,000 using the proceeds from sale of “A” which settles on Tuesday.
On Monday customer sells “B”, the sale would result in a good faith violation since “B” was sold prior to the settlement of “A”.

Also note that if you make multiple opening transactions, the sum of the purchases and or requirements for that day will be applied. If the sum exceeds the settled funds and a violation takes place a GFV will be charged.

EXAMPLE:

On Monday customer has $5,000 in settled funds. Customer sells “A” for $3,000, of a long, settled and fully paid for position.
On Monday customer buys “B” for $4,000 and buys “C” for $4,000.
On Monday customer sells “B”, the sale would result in a good faith violation since the sum of the purchase of $8,000 is greater than settled funds of $5,000. Even though only “B” was sold where the purchase price is less than the settled funds, the sum of the purchases is applied to determine if good faith violation is to be charged.

For questions contact Investrade at 1-888-793-5333.

IRAs

IRAs incur an annual fee of $15.00. A $60.00 closing fee applies to closed or outgoing IRA transfers.

Investrade, a division of Regal Securities, Inc., makes neither a recommendation as to the appropriateness of investing in any specific investment product nor is it providing any specific investment advice for any particular investor. Due to rapidly changing market conditions, and the complexity of investment decisions, supplemental information and sources may be required to make informed investment decisions. Clients should take special care in understanding all of the risks involved prior to investing.

Option Trading in an IRA

Investrade allows option trading in IRAs based on investor’s individual suitability. Option trading in IRAs includes call buying, put buying, cash-secured put writing, spreads, and covered calls. Unsecured (naked) puts and naked call transactions are not permitted in IRAs. We reserve the right to determine what trading is suitable for an IRA. When trading options in an IRA, there are significant limitations as to how potential losses can be covered.

Keeping Your Account Secure

Investrade takes cyber security seriously by implementing a secure environment and taking steps to protect customer assets, employees and our customers’ personally identifiable information. In order to protect against potential cyber-terrorism and hackers who target financial firms, Investrade has policies and procedures ensuring Cyber security, Identity Theft, and General Security Preparedness. Additionally, Investrade has a comprehensive Disaster Recovery/ Business Continuity plan, and periodically performs testing of Disaster Recovery & Business Continuity readiness tasks.

While we take numerous steps to help protect the security of your account, there are steps that you, the customer, can take to protect your account as well. To help protect your personal identity and prevent your personal information from being disseminated to unauthorized individuals, always remember to remain vigilant by keeping your personal and financial information secure, and be aware of “Phishing” and fraudulent emails and suspicious websites.

UNSECURE COMPUTERS AND WIRELESS NETWORKS

Unsecured wireless networks pose a significant risk to computing assets and information. In general, unsecured wireless networks should be avoided and should never be used as a primary networking resource.

Additionally, the following brochures describe the critical steps you can take to safeguard your financial accounts and help prevent identity theft.

Please read “Keeping Your Account Secure – Tips for Protecting Your Financial Information” provided by the Securities Industry and Financial Marketing Association (SIFMA) and the Financial Industry Regulatory Authority (FINRA).

“Phishing” and Other Online Identity Theft Scams: Don’t Take the Bait

If you have any questions about how we keep your account information safe, please email us at support@investrade.com.

Leveraged/Non-Traditional ETF Disclosure

Non-traditional ETPs (Exchange Traded Products) employ sophisticated financial strategies and instruments, such as leverage, futures, and derivatives, in pursuit of their investment objectives. Leveraged and inverse ETPs are considered risky. The use of leverage and inverse strategies by a fund increases the risk to the fund and magnifies gains or losses on the investment. You could incur significant losses even if the long-term performance of the underlying index showed a gain. Typically, these products have one-day investment objectives, and investors should monitor such funds on a daily basis. Having a highly concentrated position in these types of products can also pose significant risks. Non-traditional ETPs are generally categorized as leveraged, inverse, or leveraged-inverse:

Leveraged– Uses financial derivatives and debt to multiply the returns of an underlying index, commodity, currency, or basket of assets. Leveraged ETPs may include the terms “double,” “ultra,” “triple,” or similar language in their security name/description.
Inverse – Uses various derivatives to seek to profit from the decline in the value of an underlying index, commodity, currency, or basket of assets; used typically to hedge exposure to downward markets. Inverse ETPs may include the term “contra,” “short,” or similar language in their security name/description.
Leveraged-Inverse – Uses swaps, futures contracts, options, and other derivative instruments to seek to achieve a return that is a multiple of the opposite performance of the underlying benchmark or index. Leveraged-inverse ETPs may include a combination of leveraged and inverse terms such as “ultra-short” in their security name/description.
The Financial Industry Regulatory Authority and the Securities and Exchange Commission seek to warn retail investors of the risks associated with investing in non-traditional ETFs and issued an Investor Alert entitled “Leveraged and Inverse ETFs: Specialized Products With Extra Risks for Buy-and-Hold Investors,” which is available on the websites of both the SEC and FINRA. Please see https://www.sec.gov/investor/pubs/leveragedetfs-alert.htm for the SEC Investor alert describing the risks associated with ETPs, and its “Related Items” section which has additional resources on ETPs, including links to FAQs and FINRA notices.

Investors who choose to invest in non-traditional ETPs should be aware of the risks, some of which are outlined below:

Non-traditional ETPs are complex products that have the potential for significant loss of principal and are not appropriate for all investors. Investors should consider their financial ability to afford the potential for a significant loss.
Non-traditional ETPs seek investment results for a single day only. The effect of compounding and market volatility could have a significant impact upon the investment returns. Investors may lose a significant amount of principal rapidly in these securities.
Non-traditional ETPs may be volatile under certain market conditions. Investors holding non-traditional ETPs over longer periods of time should monitor those positions closely due to the risk of volatility.
Non-traditional ETPs are focused on daily investment returns, and their performance over longer periods of time can differ significantly from their stated daily objective. Investors may incur a significant loss even if the index shows a gain over the long term.
Non-traditional ETPs use a variety of derivative products in order to seek their performance objectives. The use of leverage in ETPs can magnify any price movements, resulting in high volatility and potentially significant loss of principal.
Non-traditional ETPs may suffer losses even though the benchmark currency, commodity, or index has increased in value. Investment returns of non-traditional ETPs may not correlate to price movements in the benchmark currency, commodity, or index the ETP seeks to track.
Some non-traditional ETPs may have a low trading volume, which could impact an investor’s ability to sell shares quickly.
Non-traditional ETPs may be less tax efficient than other ETPs. As with any potential investment, an investor should consult with his or her tax advisor and carefully read the prospectus to understand the tax consequences of non-traditional ETPs.

The specific risks associated with a particular ETP are detailed in the fund’s prospectus. Additional risks may include adverse market condition risks, investment strategy risk, aggressive investment techniques risk, concentration risk, correlation risk, counterparty risk, credit risk and lower-quality debt securities risk, energy securities risk, equity securities risk, financial services companies risks, interest rate risk, inverse correlation risk, leverage risk, market risk, non-diversification risk, shorting risk, small and mid-cap company risk, tracking error risk, and special risks of exchange traded funds, among others. Investors should refer to the ETP’s prospectus to obtain a complete discussion of the risks involved in that ETP before investing.

Margin Risks & Disclosure

We are furnishing this document to you to provide some basic facts about purchasing securities on margin, and to alert you to the risks involved with trading securities in a margin account. Before trading stocks in a margin account, you should carefully review the margin agreement provided by your broker. Consult your broker regarding any questions or concerns you may have with your margin accounts.

When you purchase securities, you may pay for the securities in full or you may borrow part of the purchase price from your brokerage firm. If you choose to borrow funds from your firm, you will open a margin account with the firm. The securities purchased are the firm’s collateral for the loan to you. If the securities in your account decline in value, so does the value of the collateral supporting your loan, and as a result, the firm can take action, such as issue a margin call and/or sell securities in your account, in order to maintain the required equity in the account.

It is important that you fully understand the risks involved in trading securities on margin. These risks include the following:

You can lose more funds than you deposit in the margin account. A decline in the value of securities that are purchased on margin may require you to provide additional funds to the firm that has made the loan to avoid the forced sale of those securities or other securities in your account.
The firm can force the sale of securities in your account. If the equity in your account falls below the maintenance margin requirements under the law, or the firm’s higher “house” requirements, the firm can sell the securities in your account to cover the margin deficiency. You also will be responsible for any shortfall in the account after such a sale.
The firm can sell your securities without contacting you. Some investors mistakenly believe that a firm must contact them for a margin call to be valid, and that the firm cannot liquidate securities in their accounts to meet the call unless the firm has contacted them first. This is not the case. Most firms will attempt to notify their customers of margin calls, but they are not required to do so. However, even if a firm has contacted a customer and provided a specific date by which the customer can meet a margin call, the firm can still take necessary steps to protect its financial interest, including immediately selling the securities without notice to the customer.
You are not entitled to choose which security in your margin account is liquidated or sold to meet a margin call. Because the securities are collateral for the margin loan, the firm has the right to decide which security to sell in order to protect its interests.
The firm can increase its “house” maintenance margin requirement at any time and is not required to provide you advance written notice.These changes in firm policy often take effect immediately and may result in the issuance of a maintenance margin call. Your failure to satisfy the call may cause the member to liquidate or sell securities in your account.
You are not entitled to an extension of time on a margin call. While an extension of time to meet margin requirements may be available to customers under certain conditions, a customer does not have a right to the extension.
The IRS requires Broker Dealers to treat dividend payments on loaned securities positions as a “substitute payment” in lieu of a dividend. A substitute payment is not, a “qualified dividend” and is taxed as ordinary income.
Industry regulations may limit, in whole or in part, your ability to exercise voting rights of securities that have been lent or pledged to others.You may receive proxy materials indicating voting rights for a fewer number of shares than are in your account, or you may not receive any proxy materials.

CREDIT TERMS AND POLICIES:

The following Disclosure of Credit Terms and Policies is required by the Securities and Exchange Commission and is part of your Investrade Account–Customer Account Agreement. It describes the terms under which we extend credit and charge interest and how your obligations are secured by property in your Account.

Interest Charges. We will charge interest on a daily basis on the credit we extend to you. The daily interest charges are calculated by multiplying your “daily adjusted debit balance” by the “daily margin interest rate.” Generally speaking, your daily adjusted debit balance is the actual settled debit balance in your Margin and Short Account, increased by the value of securities held short and reduced by the amount of any settled credit balance carried in your Cash Account.

We calculate your daily-adjusted debit balance each day by adjusting your previous day’s balance by any debits and credits to your account and by changes in the value of short positions. If your daily-adjusted debit balance is reduced because you deposit a check or other item that is later returned to us unpaid, we may adjust your account to reflect interest charges you have incurred.

We reserve the right to charge interest on debit balances in the Cash Account. Periodically, we will send you a comprehensive statement showing the activity in your account, including applicable interest charges, interest rates and adjusted daily debit balances.

Daily Margin Interest Rate. The “daily margin interest rate” is based on a 360-day year. It is calculated for each day by dividing the base margin interest rate by 360. Note that the use of a 360-day year results in a higher effective rate of interest than if a year of 365 days were used.

The applicable margin interest rate is set according to Investrade’s margin rate schedule.

Your margin interest rate will be adjusted automatically and without notice to reflect any change in the Base Rate. If your interest rate increases for any reason other than a change in the Base Rate, we will give you written notice at least 30 days’ prior to that change.

Compounding Interest Charges. We compound interest on a daily basis. Interest charges will accrue to your account each day. We will include the charges in the next day’s opening debit balance and charge interest accordingly. The interest rates described above do not reflect compounding of unpaid interest charges; the effective interest rate, taking into effect such compounding, will be higher.

Initial Margin Requirements. The Federal Reserve Board and various stock exchanges determine margin loan rules and regulations. When you purchase securities on margin, you agree to deposit the required initial equity by the settlement date and to maintain your equity at the required levels. The maximum amount we currently may loan for common stock (equity) securities is 50% of the value of marginable securities purchased in your Margin and Short Account; different requirements apply to non-equity securities, such as bonds or options. If the market value of stock held as collateral increases after you have met the initial margin requirements, your available credit may increase proportionately. Conversely, if the market value decreases, your available credit may proportionately decrease.

Initial margin requirements may change without prior notice. We may impose anytime and without prior notice more stringent requirements on positions that in our sole discretion involve higher levels of risk; for example, higher limits may apply for thinly traded, speculative or volatile securities, or concentrated positions of securities.

You may purchase only certain securities on margin or use them as collateral in your Margin and Short Account. Most stocks traded on national securities exchanges, and some over-the-counter (OTC) securities are marginable. At our discretion, we reserve the right not to extend credit on any security.

Equity securities with a market value of less than $3 per share may not be purchased on margin or deposited as margin collateral. If the market value of a security drops below $3 per share, the security will not be assigned any value as collateral to secure your margin obligations.

Margin Maintenance Requirements. You must maintain a minimum amount of equity in your account to collateralize your outstanding loans and other obligations. Margin maintenance requirements are set:

By the rules and regulations of the New York Stock Exchange, the American Stock Exchange and other regulatory agencies to the jurisdiction of which we are subject; and
According to our sole discretion and judgment.

You agree to maintain in your Margin and Short Account collateral of the type and amount required by:

Applicable exchange rules and federal regulations; and
Our Disclosure of Credit Terms and Policies; or
As required by us, at our discretion.

Margin maintenance requirements may change without prior notice.

We may issue a “margin call” (that is, a notification to deposit additional collateral) if your account equity falls below the margin maintenance requirement. This can happen for various reasons. The most common reasons are a decrease in the value of long securities held as collateral or an increase in the value of securities held short.

As a general guideline and when it is practicable to do so, we may (but are not required to) issue a margin call when the equity in your Margin and Short Account falls below a predetermined percentage of the market value of assets at risk (that is, the sum of the market values of the long and short equity security positions) in your Margin and Short Account. The amount of additional collateral we require usually is an amount sufficient to raise your equity to minimum standards. For information on the current equity requirements, please contact your broker.

We retain absolute discretion to determine whether, when and in what amounts we will require additional collateral. In some situations, we may find it necessary to require a higher level of equity in your account. For example, we may require additional collateral if an account contains:

Only one security or a large concentration of one or more securities; or
Low-priced, thinly traded or volatile securities; or if
Some of your collateral is or becomes restricted or non-negotiable or non-marginable. We also may consider market conditions and your financial resources.

Miscellaneous Fees

Important Note: Modifying a partially executed order, also known as a cancel/replace, is considered a new order and will incur a separate commission if the modified order is executed.

[1] Applicable fees include wire fees, rejection fees, and shipping fees, redeposit fees, transfer agent fees, DWAC fees, and agent fees.

[2] A DRS statement is sent only when a security is returned to the transfer agent to hold in book entry form

Fees & Commissions effective as of 1/14/2017. All fees subject to change without notice.

Morning Market Insight

The information and research contained in the Investrade Daily Market Report is for analysis, educational and informational purposes only. The inclusion of any specific securities detailed is for research and illustrative purposes only and represent samples of technical analysis and chart pattern recognition. No information contained in the emails to which you subscribe are intended to constitute a recommendation by Investrade to buy, sell, or hold any stock, option, or securities discussed in the email.

Recognia is the industry leader providing actionable investment research products for self-directed investors and traders. Our compelling product suite uses automated interpretation of technical, fundamental and value based analytics to help validate investment decisions, manage risk and find ideas. Recognia helps to automate the investment decision making process by offering dynamic and action-oriented research for all trader types and provides coverage of more than 50 exchanges worldwide, including stocks, equities, forex, indices, currencies and futures.

Recognia provides research for educational and informational purposes only and Investrade cannot attest to its accuracy or completeness. No information provided has been endorsed by Investrade and does not constitute a recommendation by Investrade to buy or sell a particular investment. You are solely responsible for your own investment decisions, and the research and investment strategies contained in the daily report may not be appropriate for you. Investrade makes no investment recommendations and does not provide financial, tax, or legal advice. Investrade may provide links to internet sites maintained by third parties. Unless expressly stated otherwise, links in this email are not sponsored by nor are they the responsibility of Investrade. Investrade has not verified the content, accuracy, or opinions expressed on any links in this email and disclaims any warranty or liability for damages associated therewith.

“Technical Event” and “Recognia” are registered trademarks of Recognia Inc.

Option Education

The Options Industry Council website is created and maintained by a third party who has no affiliation whatsoever with Investrade or any of its related entities. Investrade is not responsible for the privacy practices of this website, nor does it endorse or warrant the accuracy or content of the products or services of such website. We recommend that you review the website’s policies regarding privacy and security. Use of this site and its services and products is at the user’s own risk, and without guarantee or warranty of any kind from Investrade .

Order Routing Disclosure

SEC Rule 606 Report: Percentages of Total Non-Directed Orders Routed to Venues

Regal Securities has prepared this report pursuant to U.S. Securities and Exchange Commission Rule 606, formerly Rule 11A(c)1-6, requiring all brokerage firms to make publically available quarterly reports on their order routing practices. The report provides information on the routing of non-directed orders, which are any orders that the customer has not specifically instructed to be routed to a particular venue for execution.

2^nd Quarter 2024 (PDF) 2^nd Quarter 2024 (XML)

1^st Quarter 2024 (PDF) 1^st Quarter 2024 (XML)

4^th Quarter 2023 (PDF) 4^th Quarter 2023 (XML)

3^rd Quarter 2023 (PDF) 3^rd Quarter 2023 (XML)

2^nd Quarter 2023 (PDF) 2^nd Quarter 2023 (XML)

1^st Quarter 2023 (PDF) 1^st Quarter 2023 (XML)

4^th Quarter 2022 (PDF) 4^th Quarter 2022 (XML)

3^rd Quarter 2022 (PDF) 3^rd Quarter 2022 (XML)

2^nd Quarter 2022 (PDF) 2^nd Quarter 2022 (XML)

1^st Quarter 2022 (PDF) 1^st Quarter 2022 (XML)

4^th Quarter 2021 (PDF) 4^th Quarter 2021 (XML)

3^rd Quarter 2021 (PDF) 3^rd Quarter 2021 (XML)

2^nd Quarter 2021 (PDF) 2^nd Quarter 2021 (XML)

1^st Quarter 2021 (PDF) 1^st Quarter 2021 (XML)

4^th Quarter 2020 (PDF) 4^th Quarter 2020 (XML)

3^rd Quarter 2020 (PDF) 3^rd Quarter 2020 (XML)

2^nd Quarter 2020 (PDF) 2^nd Quarter 2020 (XML)

1^st Quarter 2020 (PDF) 1^st Quarter 2020 (XML)

Privacy Policy

Investrade has created this privacy statement in order to demonstrate our firm commitment to customer privacy on the Internet. The following discloses our information gathering and dissemination practices for this web site: www.Investrade.com.

WHERE DO WE OBTAIN THE INFORMATION?

The information that we have comes directly from you. This includes such information as your name, address and Social Security number that you provided on applications, agreements or other forms. In addition, we maintain records of each of your transactions and holdings processed by us.

We also may obtain information about you, such as your credit history or other facts relating to creditworthiness, from a consumer-reporting agency.

Our site’s registration form requires users to give us contact information (like their name and e-mail address). We use customer contact information from the registration form to send the user information about our company. The customer’s contact information is also used to contact the visitor when necessary. Users may opt-out of receiving future mailings; see the choice/opt-out section below.

We use your IP address to help diagnose problems with our server, and to administer our Web site. Investrade provides investment brokerage services by means of its own internal operation and those of its clearing firm and other unaffiliated third party providers such as mutual funds and variable product sponsors. Investrade acts as an introducing broker to its clearing firm, which in turn processes the transactions and acts as the account custodian. All of the above named parties receive and maintain information about you that is related to and necessary for processing investments in your account.

CONFIDENTIALITY AND SECURITY

This site has security measures in place to protect the loss, misuse and alteration of the information under our control. The Trading Area uses SSL (Secure Socket Layer) technology to provide a secure environment for all transactions. If you do not have an up-to-date browser that supports SSL, you should upgrade today. We restrict access to information about you to those employees and authorized agents who need to know that information in order to provide products or services to you. We maintain physical, electronic and procedural safeguards to maintain the confidentiality of your information.

TO WHOM DO WE DISCLOSE THE INFORMATION?

Investrade does not sell your nonpublic personal information. We provide information about current or former clients from the sources described above to parties outside of this firm only as described below:

To other companies as necessary to process your business. For example, we process your mutual fund and variable product transactions through product providers with whom we have dealer-selling agreements. If you have a trading account, the information that we obtained from you is given to the clearing firm for purposes of facilitating securities trading and statement preparation. These parties must limit their use of the information to the purpose for which it was provided. For account funding, Investrade uses Plaid Inc. (“Plaid”) to gather your data from financial institutions. By using the service, you grant Investrade and Plaid the right, power, and authority to act on your behalf to access and transmit your personal and financial information from your relevant financial institution. You agree to your personal and financial information being transferred, stored, and processed by Plaid in accordance with the Plaid end user privacy policy.

Where required by law or regulation. Examples include responses to a subpoena, court order or regulatory demand. As authorized by you, you may direct us, for example, to send account statements or other account information to a third party. As otherwise authorized or permitted by law. For example, the law permits us to respond to a request for information about you from a consumer-reporting agency.

SUPPLEMENTATION INFORMATION

This site may supplement the information that you provide when submitting an application for an account with information that is received from third parties.

LINKS

The Investrade Web site contains links to other Web sites. Investrade is not responsible for the privacy practices or the content of such Web sites.

WHO IS COVERED BY THE PRIVACY POLICY?

The Privacy Policy applies to consumers who are customers or former customers of Investrade. We provide our Privacy Policy to customers when they open a new account and annually thereafter. In the event of a change, a revised Privacy Statement will promptly be posted to our Web site. Any dispute over our Privacy Policy is subject to this notice and our Terms and Conditions, including arbitration of disputes and limitation of damages.

CHOICE/OPT-OUT

Investrade provides users the opportunity to opt-out of receiving communications. Investrade gives users the following options for removing their information from our database to not receive future communications or to no longer receive our service.

E-mail: support@investrade.com
Call: 1-888-793-5333

Mail your request to:
Investrade
950 Milwaukee Ave. Suite 102
Glenview, IL 60025

CORRECT/UPDATE

This site gives users the following options for changing and modifying information previously provided.

E-mail: support@investrade.com
Call: 1-888-793-5333

Mail your request to:
Investrade
950 Milwaukee Ave. Suite 102
Glenview, IL 60025

If you have any questions about this privacy statement, the practices of this site, or your dealings with this Web site, you can contact:

Investrade
attn: Compliance Dept.
950 Milwaukee Ave. Suite 101
Glenview, IL 60025
compliance@investrade.com

Reg BI Disclosure (Regulation Best Interest)

In accordance with Regulation Best Interest (or “Reg BI”), Regal Securities has added Additional Disclosures to supplement its Customer Relationship Summary (“Form CRS”). Investrade is a division of Regal Securities.

Trading Risk

Options involve risk and are not suitable for all investors. Prior to trading options, you must be approved for options trading and read the Characteristics and Risks of Standardized Options. A copy may also be requested via email at support@investrade.com or via mail to Investrade , 950 Milwaukee Ave., Ste. 102, Glenview, IL 60025. Online trading has inherent risks due to loss of online services or delays from system performance, risk parameters, market conditions, and erroneous or unavailable market data.

Contact Us

New Accounts

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WHAT TYPES OF INFORMATION WILL YOU NEED TO PROVIDE?

WHAT HAPPENS IF I DON’T PROVIDE THE INFORMATION REQUESTED OR MY IDENTITY CAN’T BE VERIFIED?

Auto Trading

Additional Auto Trade Disclosures:

Auto Trade Terms & Conditions

ADDITIONAL DISCLOSURE RELATED TO ACCOUNTS TRADING OPTIONS:

Business Continuity Plan

Commissions

Customer Relationship Summary (Form CRS)

Daily Market Report & Insights

Day Trading Margin Rules

PATTERN DAY TRADERS

SUMMARY OF RULE 431:

Day Trading Risk Disclosure Statement

Direct Access Trading

Investrade mobile

Investrade Paper Trading

Extended Hours Trading

ELIGIBLE SECURITIES/ORDER TYPES

PLACING A TRADE

EXTENDED HOURS

NATURE OF EXTENDED HOURS TRADING

Risks of Extended Hours Trading

Limited Liquidity, Lack of Depth and Breath

Increased Volatility

Inaccurate “Real-time” Quotes

Wider Than Normal Spreads

Fragmentation of the Market

Impact of News Announcements

Risk of Changing Prices

Fixed Income

Good Faith Violation (“GFV”)

IRAs

Option Trading in an IRA

Keeping Your Account Secure

UNSECURE COMPUTERS AND WIRELESS NETWORKS

Leveraged/Non-Traditional ETF Disclosure

Investors who choose to invest in non-traditional ETPs should be aware of the risks, some of which are outlined below:

Margin Risks & Disclosure

CREDIT TERMS AND POLICIES:

Miscellaneous Fees

Morning Market Insight

Option Education

Order Routing Disclosure

SEC Rule 606 Report: Percentages of Total Non-Directed Orders Routed to Venues

Privacy Policy

WHERE DO WE OBTAIN THE INFORMATION?

CONFIDENTIALITY AND SECURITY

TO WHOM DO WE DISCLOSE THE INFORMATION?

SUPPLEMENTATION INFORMATION

LINKS

WHO IS COVERED BY THE PRIVACY POLICY?

CHOICE/OPT-OUT

CORRECT/UPDATE

Reg BI Disclosure (Regulation Best Interest)

Trading Risk

Option Trading in an IRA