Fill out the form fields.
You will be provided the security question you selected when you created your login.
Provide the answer to your security question.
You will then be prompted to enter a new password and confirm the new password (passwords are case sensitive.) You will then be directed back to the login screen to re-enter your username and new password.
If you still have trouble logging in, please call Customer Service toll free at (877) 223-3344.
In addition, you will need to provide a valid e-mail address, all of the required information in the account application and agree to the terms and conditions of the account.
Also, before you open your account you should take the time to read and understand the Options Clearing Corporation’s (OCC) “Characteristics and Risks of Standardized Options”.
In a margin account, customers are allowed to borrow money to fund transactions. Margin accounts may also utilize acceptable collateral to finance requirements and debit balances. Margin accounts may also (if approved) hold complex positions including uncovered short positions. Margin should only be used by sophisticated investors who understand that losses can exceed their original investment.
To deposit a check into your account, write your account number and phone number on the check and make the check payable to Scottrade, Inc. Send the check to:Scottrade-OptionsFirst
To overnight a check to OptionsFirst,
Scottrade – OptionsFirst
700 Maryville Centre Dr.
St. Louis, MO 63141.
The typical clearing time for personal checks under $25,000 is the deposit date plus one business day. For personal checks over $25,000, the typical clearing time is the deposit date plus five business days.
NOTE: Only checks made out to Scottrade from the account holders bank account are acceptable. We do not accept third-party checks, or endorsed checks made payable to the customer. We do not accept money orders. If you have any questions regarding a check deposit, please call us at (877) 223-3344.
Use the information below to arrange an incoming wire transfer with your bank or other financial institution. The cut off time for incoming wire transfers is 12:00 p.m. (CT). Settlement for a wire transfer should be the same day but timing, circumstances and contra parties can delay this settlement by one to two days.
BMO Harris Bank
111 W Monroe St
Chicago, IL 60603
Beneficiary: APEX Clearing Services
FCT: Customer’s name
FFC Account Number: Customer account number with OptionsFirst
To wire funds out of your Scottrade account:
Note: Funds are available the day after your trade settles. $25 fee for wiring funds out. Scottrade requires a written authorization to wire funds from your account. We will accept a hand written authorization or you can use our Authorization to Wire Funds form located on OptionsFirst forms Center. You can mail or fax a written authorization to the OptionsFirst department. Our fax number is (314) 543-6136.
Please include the following information in your instructions:
Name and address of receiving institution
ABA # of receiving institution
Title of receiving account
Your account number at receiving institution
Your full address
You may request a check or a wire transfer to your bank account by using the "Transfer Funds" tab located on the bottom of your OptionsFirst account. Click on the tab and choose your method of payment. Fill in the amount and click the "next" button. The next screen will verify your selection, then click the submit button. This option is only for non-IRA accounts. IRA accounts must submit a Traditional IRA Distribution Request form, found in the Forms Center, to receive funds from the account.
*For broker assisted orders an additional $25 fee will apply per trade.
If an order is entered and partially filled, then subsequently modified, one ticket charge will be applied to the partial fill and another to the subsequent order. The contract charge is applied per contract in the order.
When you sell a stock or option, we include a regulatory transaction fee which appears on your confirmation slip. This amount covers a transaction fee which we must pay to a regulatory agency based on the volume of securities sold. The current rate is $18.40 charged for every $1,000,000 in sales (rounded up to the next penny). This fee is listed on your official trade confirmation. (For example, you sell $100,000 worth of stock. The fee would be your trade principal for those shares ($100,000) multiplied by 0.00001840, which equals $1.84).
FINRA levies a Trading Activity Fee (TAF) for sales of covered equity securities that we pass through to you. The FINRA TAF for equity securities is currently $0.000119 per share. (For example, if you sell 1,000 shares of stock the fee would be the number of shares [1,000] multiplied by $0.000119 which equals 0.119) The FINRA TAF for option sales is currently $0.002 per contract. For example, if you sell 100 options contracts, the fee would be the number of contracts  multiplied by $0.002, which equals $0.20.
Several options exchanges assess an Options Regulatory Fee (referred to as the "ORF fee") on options transactions executed by its members in order to fund their regulatory and surveillance duties. These fees are passed through to you and vary per exchange:
|Exchange||Rate Per Contract|
|Combined Rate||$0.0345 * Fee charges will be rounded to the nearest penny.|
A full description of how to place an order in these areas can be found in Quick Start within the trading tool.
These trades will not be subject to the rules affecting Day Trades. Any other trades in the overnight position will be considered a Day Trade and subject to the Day Trading rules.
In other words, if the account closes the day with equity of less than $25,000, the next day the account will have zero day trading buying power. There will be no changes to Overnight Buying Power (ONBP). Buying power for Pattern Day Traders is limited to four (4) times their margin maintenance excess for equities and one time for options.
Cross guarantees among accounts are prohibited. Day Trading Calls are incurred when an account holder exceeds his or her Day Trading Buying Power at any point during a trading session.
Limit on Close (LOC):
An order that will execute at the market close if the closing price is at or better than the submitted limit price.
Limit on Open (LOO):
An order that will execute at the market open if the opening price is at or better than the submitted limit price.
Market on Close (MOC):
A market order that will execute at the market close.
Market on Open (MOO):
A market order that will execute at the market open.
Processor: 1 Ghz or better
RAM: 512 MB
Monitor: 1024 x 768 monitor resolution or higher
PC:Microsoft Windows 98, XP, Microsoft Vista, or ME
MAC: OSX with Firefox
PC: Internet Explorer version 6.0 Service Pack 2 or higher.
PC or MAC: Mozilla Firefox version 18.104.22.168 or higher.
Options involve risk and are not suitable for all investors. Detailed information on our policies and the risks associated with options can be found in the Scottrade Options Application and Agreement, Brokerage Account Agreement, and by downloading the Characteristics and Risks of Standardized Options and Supplements (PDF) from The Options Clearing Corporation, or by requesting a copy from your local branch office. Market volatility, volume, and system availability may impact account access and trade execution. Supporting documentation for any claims will be supplied upon request. Consult with your tax advisor for information on how taxes may affect the outcome of these strategies. Keep in mind profit will be reduced or loss worsened, as applicable, by the deduction of commissions and fees.
There are special risks associated with uncovered option writing that may expose investors to significant losses. Therefore, this type of strategy may not be suitable for all customers approved for options transactions. Clients approvedfor uncovered put writing must acknowledge having received and read the Special Statement for Uncovered Options Writers concerning the risks of this type of trading.
Multiple-leg option strategies can entail substantial transaction costs, including multiple commissions, which may impact any potential return.
Margin trading involves interest charges and risks, including the potential to lose more than deposited or the need to deposit additional collateral in a falling market. Scottrade’s margin agreement is available at scottrade.com, or through a Scottrade branch office, and contains the Margin Disclosure Statement and information on our lending policies, interest charges, and the risks associated with margin accounts.
Investors should consider the investment objectives, risks, charges, and expenses of mutual fund carefully before investing. Mutual funds are subject to market fluctuation including the potential for loss of principal. A prospectus contains this and other information about the fund and may be ordered through www.scottrade.com or through a Scottrade branch office. The prospectus should be read carefully before investing.
No transaction fee (NTF) funds are subject to the terms and conditions of the NTF funds program. Scottrade is compensated by the funds participating in the NTF program through recordkeeping, shareholder, or SEC 12b-1 fees.
Investors should consider the investment objectives, charges, expense, and unique risk profile of an Exchange Traded Fund (ETF) carefully before investing. The prospectus contains this and other information and should be obtained from the issuer.
The prospectus should be read carefully before investing.
Scottrade, Apex and Interactive Brokers are not affiliated. Although the sources are deemed to be reliable, Scottrade makes no warranty with respect to the contents, accuracy, completeness, timeliness, suitability, or reliability of the information. None of the information presented constitutes a recommendation by Scottrade or its affiliates to buy, sell or hold any security or financial product or instrument, or to engage in any specific investment strategy. The choice to engage in a particular investment strategy or use a specific investment tool should be based solely on your own research and evaluation of the risks involved, your financial circumstances and your investment objectives.
Market volatility, volume, and system availability may impact account access and trade execution.
All investing involves risk. The value of your investment will fluctuate over time and you may gain or lose money.