Untitled Document

Account Protection		Trading Direct, a Division of York Securities, Inc., is a member of the Securities Investor Protection Corporation (SIPC). Accounts carried by the clearing firm, Ridge Clearing & Outsourcing Solutions, Inc. Ridge Clearing, member SIPC, provides account protection for the net equity of a customer's securities positions. The Securities Investor Protection Corporation ("SIPC") provides $500,000 of net equity protection, including $100,000 for claims for cash awaiting reinvestment ("SIPC coverage"). Visit www.sipc.org for more information about SIPC coverage. Ridge Clearing provides additional protection ("Excess SIPC") through Customer Asset Protection Company, a licensed Vermont insurer. Account protection applies when a SIPC member firm fails financially and is unable to meet obligations to securities clients, but it does not protect against losses from the rise and fall in the market value of investments, and does not cover all assets. For a full description of the assets and securities that are covered, please visit sipc.com or capcoexcess.com. *The Securities Investor Protection Corporation (SIPC) is a non-profit organization established by the Congress of the United States to insure client accounts against the failure of member brokerage firms. You can obtain more information about the Securities Investor Protection Corporation (SIPC) by visiting their web site at http://www.sipc.org.

Account Transfer		You must have an account open at Trading Direct before the transfer can take place. If you are transferring funds and or securities from another firm, you will need to fill out an Account Transfer Form {PDF,32KB}. This transfer form which must be filled out, signed, and mailed back to us for processing. This is called an ACAT transfer and normally takes 5 -10 business days to complete from the time we receive your paperwork. (Make sure the account titles match and include a copy of your most recent statement from the firm you are transferring from).

ACH Transfer		(Authorization for Pre-Arranged (Debits) and Automatic Deposits (Credits)) By completing the ACH Agreement {PDF,206KB}, this will serve as authorization for Trading Direct's clearing agent, Ridge Clearing & Outsourcing Solutions, Inc.to establish Electronic Transfer Instructions with your designated bank account. There are 3 electronic transfer options to establish your ACH Profile described below: To authorize a debit or credit to an account "On Demand". By choosing this option a client will notify Trading Direct via email, whenever he/she would like to transfer money to his/her Trading Direct account from his/her bank account, or transfer money from his/her Trading Direct account to his/her bank account. To remit income distributions (dividends and interest) to the bank account. To debit a client's bank account on a regular basis according to a periodic schedule. Note: If your account has no or little equity relative to the ACH deposit, ACH transfers may take up to five business days to clear. Please mail completed form along with a voided check, preprinted deposit ticket, or bank statement: TRADING DIRECT 160 BROADWAY, FL 7E NEW YORK NY 10038

Address Change		Address Change - Postal Please fax, scan&email, or mail a signed letter of authorization {PDF,5KB} to update your postal mailing address. (Address changes are prohibited without a client signature. For a joint account make sure both account holders sign.) Please Note: If you are changing your MAILING address to a PO Box or "courtesy of", be sure to also reference your HOME street address in the letter. (Knowledge of each client's home address is required by industry regulations, but know that mail will not be sent there, it will be sent to the designated mailing address). Fax signed letter to: 212-766-0914. or Scan & email attachment to: info@tradingdirect.com or Mail to: TRADING DIRECT 160 BROADWAY, FL 7E NEW YORK NY 10038

Bonds		If you wish to purchase or sell a bond or any other debt security, please call and speak to a broker at (800) 925-8566 or 212-766-0230. We do not offer this service via the Internet at this time. The commission for bonds or any other debt security is a flat $35 per transaction.

Broker Assisted Trade		Trading Direct was started for the online investor who prefers to handle their transactions with little or no broker contact. If you are away from your computer and need place a trade, you can call to speak to a live broker at 212-766-0230 or 800-925-8566.($19.95 per stock trade).

Check Request		See Withdrawing Funds.

Clearing Agent		Ridge Clearing & Outsourcing Solutions, Inc. is our clearing firm.

Confirmations		See Trade Confirmations.

Contact Trading Direct		See the Company Info page.

Credit Interest		See the Pricing Page for details.

Debit Interest		See Margin Interest.

Debt Securities		See Bonds.

Depositing Funds		Deposits may be made via check, Federal Fund (Domestic) or International Bank Wire, and ACH Transfers. CHECKS: Please make the check payable to: Ridge Clearing. Be sure to put your account number on the check in the "Memo" field. Mail to: TRADING DIRECT 160 BROADWAY, FL 7E NEW YORK NY 10038 USA ------------------------------------------------------------------------------------ DEPOSITING FEDERAL FUNDS WIRE: To send a "Fed fund wire" (A wire transfer between two banks that are members of the United States Federal Reserve System) to Trading Direct, please provide the following instructions to your bank: ABA # 021000018 Bank of New York, One Wall St., New York, NY 10286 For Account of Ridge Clearing Ridge Clearing Account Number 8661169975 For Benefit of (Enter your Trading Direct account number and title here) Example 458-12345 George P. Smith Depositing an International Wire: Swift Code: IRVTUS3N Bank Name: Bank of New York DDA: Account of Ridge Clearing 8661169975 FFC: (Enter your name and Trading Direct account number here Example: John Doe 458-12345) ------------------------------------------------------------------------------------ For more information on ACH Transfers, see above. ------------------------------------------------------------------------------------ Notes: We only accept deposits in US ($) dollars via checks, Fed Fund / international wires, and ACH transfers. We do not accept foreign currencies. We do not accept credit or debit cards. We do not accept third party checks. (Usually a personal check, written on an account not belonging to the account holder or holders.) We do not accept checks from foreign banks with out a United States bank affiliation. The name on the Trading Direct account must appear on the check being deposited. Corporate checks may only be deposited to corporate accounts. When sending wires, account titles must match.

Depositing Stock Certificates		Be sure the name on the certificate matches the account title. If they do not match, please send an explanation by e-mail prior to sending the certificates. Sign the back of the certificate, exactly as the name or names appear on the front. In the blank space between "Appoint" and "Attorney," write in "Ridge Clearing & Outsourcing Solutions". Be sure to also write your account number on the certificate. Note: For newly established accounts, Trading Direct does not accept deposits of pink sheet stocks trading under $1 per share. Mail the certificate to: TRADING DIRECT 160 BROADWAY, FL 7E NEW YORK NY 10038

Direct Deposit		See ACH Transfers.

DTC Transfer (incoming)		This type of stock transfer between two brokers usually takes 1 business day. To transfer a stock into your Trading Direct account, you need to provide your other broker our DTC instructions: Deliver to DTC Clearing #0158, Code 40 F.B.O. (Enter your Name(s) and Trading Direct account number here) (There is no fee for an incoming DTC Transfer.)

DTC Transfer (outgoing)		This type of stock transfer between two brokers usually takes 1 business day. To transfer a stock out of your Trading Direct account, you need to provide Trading Direct with your other broker's DTC instructions. All requests must be signed and faxed to (212) 766-0914. Be sure to include all pertinent information, including your signature. We charge $20 per stock for outgoing DTC transfers.

Duplicate Confirmations & Statements		These are sometimes required if you work for a bank, investment firm, or other financial service companies. Check with your supervisor or compliance manager to be sure. In order to have confirms sent to other than your designated mailed address, you will need to complete the Mail Authorization Form (PDF,5KB).

E-Documents		Instead of receiving trade confirmations, monthly statements, 1099's, annual reports, and proxy statements via postal mail, one may sign up for Edocuments to receive all this material electronically. Sign into your account, and click on E-Documents in the top-navigation bar to sign up. ***** For technical help with E-Documents, visit E-Documents Help.

Electronic Funds Transfer (ETF)		See ACH Transfer.

Email Address Change		Please sign into your account. On the top navigation bar, select "Preferences", then "Edit Email". From here the change can be made and will take effect instantly. Note: If you are registered for E-Documents, be sure to also update your email address on the E-Docs web page: Sign into your account, click on the E-Documents link in the main navigation bar. In the new window that opens, click on the "Change E-Doc E-mail" link at the top of the page.)

Federal Fund Wire		See Depositing Funds or Withdrawing Funds.

Foreign Accounts		See International Account.

Funding an Account		See Depositing Funds.

Higher Margin Requirement Stocks		Click here for the Securities with Increased Margin Requirements {PDF,20KB} list.

Interest		See either Credit Interest or Margin Interest.

International Account		Those who reside outside the USA can open accounts with Trading Direct. Visit the Getting Started International Page for detailed information.

International Wire		See Depositing Funds or Withdrawing Funds.

IPO's		On the day of the offering Trading Direct encourages clients to place limit orders only. Trading Direct has the right to reject any market order. However, clients will be responsible for market orders placed before the stock begins trading in the secondary market. (Market orders executed at substantially higher opening prices may cause financial hardship for clients with limited resources.) The date, time and price of an IPO are subject to change. Please read related news stories. You may purchase shares in an IPO, once the shares open for pubic trading only. Please use extreme care and consideration when placing an order for an IPO. Executions are not reversible. Clients will be responsible for any market or limit order placed on an IPO. IPO's may not be shorted for the first three days after coming public.

Limited Trading Authorization		Trading Authorization {PDF,78KB} limited to purchases and sales of securities, options, and commodities. This form is required if anyone other than yourself or your joint partner will be placing trades in this account.

Linking an Account		See User Name & Password

Linking Additional Accounts		If you have multiple accounts, all the account numbers can be linked to one User Name and Password: First, simply sign into the account which has the User Name and Password you would like to use. Next, from the top navigation bar, select "Tools", then "Link An Account", and follow all on-screen instructions. Please allow time for processing of the Link Request. (All links are manually reviewed for accuracy during normal business hours).

Margin Interest		Please see the Compare & Save section for margin rates.

Minimum to Open An Account		There is a $500 initial minimum balance required for a cash account. There is a $2000 minimum equity requirement to initiate margin trading. The requirement may be met with cash or marginable securities. In a cash account the anticipated dollar amount of the purchase must be deposited before an order will be accepted.

Money Market		see Credit Interest

Monthly Statements		Accounts are mailed monthly statements for each month there is activity. Accounts with no activity are mailed statements quarterly. Activity is defined as a transaction (purchase or sale of a security). Please note, rather than have statements and confirms mailed, you may print your own. See E-Documents

Mutual Funds		We offer access to more than 10,000 fund choices (load and no-load). Note that we do not issue prospectus'. The cut-off time to get an order in is usually 4PM eastern time, but each mutual fund company has their own specified cut-off time for an order to be accepted during the trading day and minimum investment amount. You must contact the individual fund company for specific information about their funds. Please see the commissions/fees page for mutual funds charges.

New Account Choices		Account Types Offered at Trading Direct Individual Joint Custodial IRA—Traditional, Roth, SEP and Educational. (We do not offer 401K's or 403B's) Profit Sharing Money Purchase Investment Clubs / Partnerships Trusts Corporations Foreign—Individual and Joint only. (No foreign corporations please) Please see the Document Center for specific account application forms.

Options Trading		We permit buying options and selling of covered calls (selling a call to open for a stock in which you own at least 100 shares) only. All purchases of options must be paid for in full prior to accepting an order. We do not permit naked positions, spreads, etc. Option transactions may be either to "Open" or to "Close". Open—To open or create a new position. You may buy to open a long position or sell a covered call to open a covered call position (assuming you are long the underlying stock.) Close—To close out an existing position. You may sell to close out a long position or buy to close out a covered call (short) position. Notes: With some exceptions, when entering a limit price under $3, orders may be placed in nickel ($.05) increments. Over $3, use dime ($.10) increments. At expiration, option positions which are $.01 or more in the money, will be automatically exercised (or assigned).

Order Restrictions		Each exchange and market requires orders to be placed in a specific format. Below are common restrictions, which will prevent the acceptance and approval of an order. Limit and stop orders placed unreasonably away from the market price may not be accepted. Buy stops placed below the current bid-ask spread and sell stops placed above the current bid-ask spread, are unacceptable orders. No stop orders are accepted on options. Please see "Order Types" for more details.

Password		See User Name & Password or Trading Password

Penny Stocks		Trading Direct permits buying penny stocks or stocks under $1 per share. The trading of any penny stock entails risk but there are additional considerations if the stock trades on the Bulletin Board or Pink Sheets in the Over the Counter market. The stocks in these markets are not regulated by the same rules that govern an exchange or the NASDAQ National Market. Some of the additional considerations, if you choose to trade these securities, include but are not limited to the following: The market makers do not have to reflect the best bid and offer by public customers. There could be very wide spreads between the bid and offer. Execution reports may have substantial delays. The market may be illiquid. The company may go bankrupt, and the entire investment may be lost. Note: Trading Direct reserves the right to reject any MARKET orders for stocks trading under $1.00 per share. Please place LIMIT orders for these securities. Also, odd-lot orders over 30,000 shares are not accepted by the system, and there is a 1 million share limit per order.

Power of Attorney		We do not offer clients to give another person full power of attorney, but we do offer Limited Trading Authorization, see above.

Quotes		Unlimited 20-Minute delayed quotes are available to all registered users. Clients may receive up to 50 free real time stock quotes per day. Clients will also receive a free real time stock quote before verifying an order for submission to Trading Direct. Realize that "time" can be a misnomer in the Internet world.

Real Time Quotes		See Quotes.

Rejected Orders		The following are the most common reasons why an order would be rejected. See Rejected Orders in Trading Help for more detailed information. NOT ENOUGH FUNDS FUNDS ARE NOT CLEARED BAD STOP ORDER DAY TRADING/CASH ACCOUNT EXCEEDING DAY-TRADING BUYING POWER/MARGIN ACCOUNT SHORT SELL: STOCK NOT AVAILABLE TO BORROW INVALID ORDER ENTRY FORMAT MARKET ORDER ON AN IPO, PENNY STOCK MARKET ORDER ON AN OPTION CONTRACT WHEN THE UNDERLYING STOCK IS NOT OPEN FOR TRADING MARKET ORDERS FOR STOCK RECEIVED AFTER 4:00PM, BEFORE 4:02PM-TRADING ACCOUNT IS RESTRICTED LACK OF MARGIN OR OPTION APPROVAL ATTEMPTING TO SELL FROM THE WRONG ACCOUNT TYPE (CASH OR MARGIN) OR INSUFFICIENT HOLDINGS. ATTEMPTING TO EDIT AN EXPIRED DAY ORDER. *TRADING DIRECT reserves the right to reject any order at any time.

Security of Account		The entire Investors portion (logged into an account) of the website is secure. Right click the mouse on any page, and click properties to view connection: SSL 3.0, RC4 with 128 bit encryption (High); RSA with 1024 bit exchange.

Settlement Period		The day an order is executed is the "Trade Date". The brokerage community requires a period of time to process the transaction. That period of time is the "Settlement Period." Stock trades settle in three business days (trade date plus three business days). Option trades settle the next business day. Mutual Funds have a settlement period ranging from 1 to 3 days, which depends on the particular mutual fund company. Please refer to the prospectus or contact the particular mutual fund company for information. In a cash account, money must be deposited before an order will be accepted.

SIPC coverage		See Account Protection.

Special Transfers		To receive a certificate in a name other than the account title, a Special Transfer Registration Form {PDF,111KB} is required. (This process usually requires two to four weeks. Prior to requesting a certificate, be sure there are funds in the account to cover the fee.)

Statements		See Monthly Statements.

Stock Certificates		See Depositing Stock Certificates or Withdrawing Stock Certificates.

Stock Order Entry Help		Visit the Stock Order Entry Help Page for details.

Telephone Trading		See Broker Assisted Trade

Trade Confirmations		Each transaction is confirmed to the customer in written form. Clients are postal mailed a confirmation letter ("Confirm") no later than the day after a trade is executed. Clients may verify a transaction four different ways: Instantly on the order status screen On the history screen In written form on the postal mailed "Confirm" A second time in written form on the monthly statement. Note: Confirmations and monthly statements will not be mailed if a client registers for E-documents (Electronic Delivery).

Trading Password		On accounts opened prior to November 1st 2003, for United States citizens, the trading password is initially set to the last 4 digits of your Social Security number. If you are a foreigner to the USA and do not have a social security number, your trading password is the month and year of your birth. For example, March 1970 is 0370. Accounts opened after November 1st 2003: The trading password is initially set to the login password. If you subsequently changed your trading password and found that it does not work, please call us at (212) 766-0241 or (800) 925-8566 to have it reset. If you know your Trading Password and would like to change it, sign into your account and select "Preferences, then "Edit Trading Password."

Transfer		See Account Transfer.

User Name & Password		If you already know your User Name and Password and would like to change the password, simply sign into the account, click on "Tools" in the top-nav bar, then select "Preferences". From this screen you may change the login password. If you find that your User Name and or Password to access your account does not work, or need to create new ones for the first time, follow the instructions below for submitting a Link Request. (Please note, if you do not know your account number, please call us at 212-766-0241 or 800-925-8566 before submitting the LINK request) The steps are as follows: From the homepage, click on customer login. Under the user name & password login box, click on Link your existing account. Follow all on-screen instructions. Note: Please allow time for processing of the Link Request. (All links are reviewed for accuracy during normal business hours). If you need to access your account right away, please call customer service to request the link be approved promptly. If you have already tried the LINK process and still cannot access your account, please call us at (212) 766-0241 or 800-925-8566. We can then tell you your User Name and reset your Password.

Wiring Funds (Into Your Trading Direct Account)		Depositing Federal Funds Wire: To send a "Fed fund wire" (A wire transfer between two banks that are members of the United States Federal Reserve System) to Trading Direct, please provide the following instructions to your bank: ABA # 021000018 Bank of New York, One Wall St., New York NY 10286 For Account Ridge Clearing Ridge Clearing Account Number 8661169975 For Benefit of (Enter your account number and title here) Example 458-12345 John Doe

Wiring Funds (Leaving Trading Direct Account)		See Withdrawing Funds below.

Withdrawing Funds		Cash withdrawals made be made 3 different ways: ACH transfer, check request, or Federal Fund / International Wire. Note: Deposits made via Wire or ACH transfer may not be withdrawable for up to 30 calendar days. For more information on ACH Transfers, see section above. To request a check from your Trading Direct account, please send an e-mail to: info@tradingdirect.com. Be sure to include your name, account number and amount of the check. To request a Federal Fund Wire (or International Swift Wire) from your Trading Direct account, please fax a signed letter of instruction. Our fax number is (212) 766-0914. Contact your bank for their wiring instructions. The instructions should include: A nine digit ABA routing number (or SWIFT Code) The name and address of your bank. Your bank account number and exact title of the bank account. A phone number at the bank. Note: Third party wires are prohibited for the first 90 days after an account is opened.

Withdrawing Stock Certificates		Simply send an e-mail to info@tradingdirect.com and include your name, account number, security name and number of shares to be mailed. The certificate will be titled exactly as the account is titled. (To receive a certificate in a name other than the account title, the Special Transfer Registration Form {PDF,111KB} is required.) The process requires two to four weeks. Prior to requesting a certificate, be sure there are funds in the account to cover the fee.