Open Account

3 Easy Ways to Apply a New Account

• Print and Send: Print applications from your computer, fill them out, and mail them to us followed by the mailing instruction below. Simply choose the account type you wish to open and click on the forms which are required for the type of the account and print them out. Or you can go to Forms and Support to download the forms you need.
• Phone Request: Please call us at (510) 870-0593, and we will send you the forms needed to open an account. You will be given access to your new PCITrade account and trading privileges upon receipt of your signed application and funding of the account.

Open a New Account

Opening an account with PCITrade is quick and easy. There is no minimum deposit required to open a cash account with PCITrade. All we require is a completed New Account Application and the initial amount to cover your first trade deposited in your cash account. Margin accounts require a minimum equity of $2000 in the form of either; a check, negotiable securities, completed account transfer form or wire transferred federal funds.

We accept individual, joint, and custodial accounts as well as corporate, partnership, sole proprietorship, trust, estate, and retirement accounts ( i.e. IRA, Roth IRA, Education IRA, Rollover IRA, Profit Sharing and Money Purchase Plans, etc.)

Mailing Address

PCITrade Securities, Inc. (Customer Service Department)
PCITrade Securities, Inc.
1313 North Milpitas Blvd. Suite 245 - F
Milpitas, CA 95035

(All checks should be made payable to Penson Financial Service, Inc.)

Depositing Checks

All checks should be made payable to our clearing firm, Penson Financial Services Inc.  Checks must be in US funds and drawn from a US bank. Please include your social security number, or your PCITrade account number (if you already have an established account with us) on the memo line of your check. For more information please read our Funding.

Note: Third party and double-endorsed checks are not acceptable.

Depositing Securities

Before mailing any securities, write Penson Financial Services, Inc. on the blank space between “Appoint” and “Attorney” on the back of each certificate. Your securities will then be non-negotiable by anyone other than Penson Financial Service, Inc. Properly sign on the back of each certificate, exactly as your name(s) appears on the front of the certificate. If you have an established account with PCITrade, please include your account number on the front of each certificate. Please send all certificates via registered mail.
 

Transferring Accounts to PCITrade

If you are transferring an account from another brokerage firm or mutual fund company, simply request an Account Transfer Form. The transfer form must be completed and returned to PCI, along with a copy of your most current monthly statement. If you have the Adobe Acrobat Reader, you can select and print this form from our Forms and Support page. Otherwise, you may request an Account Transfer Form by clicking here. The transfer normally takes two to three weeks to complete from the time we receive your completed transfer form.

Additional Forms

If you need additional forms, request them online, or call us at (510) 870-0593. If you have the Adobe Acrobat Reader, click here; you can select and print the forms you need directly from our Forms and Support page.

Account Types and Required Documents

Foreign Account

PCITrade accepts account applications from non-resident aliens. To complete the application, you must print, sign, and mail our Account Agreement and Online Service Agreement and the initial deposit to cover your first trade. In addition, you will be required to fill out Form W-8BEN and send us a copy of your passport (documenting foreign status). You may print our forms directly from our Form and Support (You must have the Adobe Acrobat Reader to access the online forms page). or request a foreign account package by e-mailing us at: customerservice@pcitrade.com. You may choose Send Me Forms or Contact Us during our regular business for mailing a new account package to you. Payment for any trade will be accepted in US funds only. We require cleared funds to reside in your PCITrade account prior to placing any trades.

Required Document:

1. Account Application Form and Online Service Agreement
2. W8-BEN
3. Margin Agreement
4. A copy of passport

Individual Accounts

Individual Accounts can be registered under one name only. The account form must include a Social Security Number and you must sign the required documents. If you are a non-US resident, you must fill out a W-8 form. Individual accounts can have margin trading capabilities.

Required Document:

1. Account Application Form and Online Service Agreement
2. Margin Agreement

Joint Tenants (WROS)

With a Joint Tenants With Rights of Survivorship account, in the event of the death of one of the tenants, the surviving tenant is given possession of the entire account.

• The lead tenant’s Social Security Number is used for the account and is responsible for paying the taxes for the account.
• For a JTWROS account, either person on the account may request a withdrawal of funds, however, the check must be written out to both names on the account and will only be sent to the
  address of record.
• Fill out the account information in the name of the lead tenant and make sure both tenants sign all the required forms in the new account package.
• All written correspondence and checks will be in both tenants’ names.

Required Document:

1. Account Application Form and Online Service Agreement
2. Joint Account Agreement
3. Margin Agreement

Custodial Accounts

Custodial Accounts must be filled out in the name of the minor and the minor’s Social Security Number is used for the account.

• If you do not provide the minor’s Social Security Number, you must send us a copy of the custodial agreement that legally declares that the custodian has authority over the minor’s account.
• The custodian, not the minor, must sign all documents.
• Custodial accounts cannot be margin-enabled.
• There can only be one custodian and one minor per custodial account.

Required Document:

1. Account Application Form and Online Service Agreement

Tenants in Common

This is a joint account for two people. In the event of the death of one of the tenants, the deceased person’s portion of the account reverts to his/her estate. The surviving tenant receives his/her portion of the account.

Required Document:

1. Account Application Form and Online Service Agreement
2. Joint Account Agreement Form
3. Margin Agreement

Corporate Account

Accounts must be filled out in the name of the corporation. Please include the corporate resolution form (with a raised seal) or a notarized copy.

• The Tax Identification Number of the corporation must be used, not the Social Security Number of any of the officers or directors.
• If the corporate account would like to be eligible for margin, then margin eligibility must be specifically stated within the resolution.

Last Update: 06/18/2007