Frequently Asked Questions: RealTick Accounts
What type of account can I open as an Active Trader with Vision?
Vision allows active traders to open various account types except for ERISA accounts (i.e. no retirement accounts). On our Web site under "Open an Account" you can find writeable PDF documents for Individual & Joint accounts as well as various entity accounts (Limited Liability Company, Partnership, Corporation, etc.). You can also find supplemental documents associated with the various types of entity accounts.
Does Vision offer any account protection?
Vision Financial Markets LLC is a member of the Securities Investor Protection Corporation (SIPC). SIPC provides up to $500,000 of coverage, with a limit of $250,000 for cash balances. This protection does not safeguard against a decline or loss in market value of the securities in your account. For more information, please read Vision's Asset Protection brochure.
What is the minimum amount to open an account with Vision?
Vision's active trader program requires a minimum cash deposit of $50,000. You may also fund your account via the transfer of liquid securities in which case the minimum amount (assuming no deposit of cash) should be $100,000.
How do I fund my Vision account?
You can fund your account in various ways including a wire transfer, an ACH (electronic) transfer or via a check made payable to "Vision Financial Markets LLC." You can also transfer an existing account from another broker/dealer. Detailed funding instructions can be found here.
How do I transfer my account to Vision?
Vision's account applications found in the "Open an Account" section of our Web site include detailed funding and transfer instructions. Included in each application is a transfer form to be filled out and signed if you wish Vision to initiate a transfer of an existing account currently held at a different broker/dealer.
How can I view my account information at Vision?
There are two ways to view your information at Vision. During the trading day, you can view your positions and your intraday profit and loss via RealTick. In addition, Vision provides you with access to our password protected Web site which represents the books and records of the firm. Each night, your executed trades from RealTick are uploaded into our Web site and you can view historical information as well. Vision's Web site is also where you will access electronic copies of your trade confirmations and month end statements.
Can I receive my trade confirmations and month end statements in paper or via electronic delivery?
In order to open an active trader account with Vision, we require that you agree to receive your documents in electronic format. You will receive an e-mail with a hyperlink pointing back to our secure Web site. If you wish, you can print any of the documents, but rest assured they are securely available on our Web site and we archive them for your convenience. Electronic delivery ensures you receive your documents much faster than traditional mail and also keeps Vision's costs down, helping us to provide you with such low pricing for your trading.
What is the maximum intraday leverage available?
Every active trader account at Vision has to complete a margin agreement and be categorized as a day trading account. As such, we can offer maximum intraday leverage of 4 to 1.
Do you offer Portfolio Margin?
Vision does not currently offer Portfolio Margin, but plans to begin doing so in the near future. We are already working on adding this feature for appropriate clients. In the meantime, all Vision clients are subject to Regulation T margin rules.
Why do I have to sign a margin agreement even if I do not plan to use margin?
We require a signed margin agreement on file for a few reasons (even if your original intention is not to utilize overnight borrowing). One is that it gets the paperwork out of the way should you change your mind in the future. A second reason is that margin approval is necessary to facilitate day trading (which all of Vision's active traders engage in to some degree or other).*
Can I start investing through my new account before funding it?
No. While industry regulations state that funds have to be available by settlement date it is Visions policy to require funds to be on deposit in a new account before initial trading is permitted. If you plan to fund your account with a wire deposit that same day, then please call our Client Services team at 1.877.836.3949 to seek an exception.
How do I transfer my account to Vision?
If you are transferring an existing account from another firm you will need to complete and sign the Securities Account Transfer Form. This form is included in each of the account applications posted on our Web site and permits you to transfer an entire account or just specific assets from an existing account at another brokerage firm.
I have more than one account at Vision. Can I view these in a consolidated manner?
If you trade more then one account on RealTick then yes, you have the ability to household all your accounts held with Vision by submitting the Householding Request Form. Each account within the household will be linked together for easy online confirmation and statement viewing via Visions password protected Web site.
Can I sell a security before the funds required for purchase are received by Vision?
Per Regulation T of the Federal Reserve Board, when a security is purchased, the funds must be received by Vision prior to the sale of that security. If the respective security is sold prior to Vision receiving said funds, the credit from the sale will not be applied to the account and the account will be placed under a 90-day restriction. Restricted accounts may place liquating trades only. In order to place a trade in a restricted account, the funds must be in the account and the trade will have to be placed through a registered member of our staff.
* Trading on margin involves risk and is not suitable for all investors. Before investing on margin, please read the margin disclosure in Visions new account application carefully.
Day trading strategies involve substantial risk and are not suitable for all investors.
