Auto Trade FAQs
What is Auto Trading?
As an Auto Trading customer, you give eOption, the authority to automatically execute trade alerts issued by an authorized newsletter publisher of your choice, resulting in an enhanced ability to follow and place your newsletter’s trade suggestions on a timely basis.
Why should I select eOption for Auto Trading?
eOption has developed proprietary systems that allow us to quickly enter Auto Trades to facilitate a timely execution for you; combined with the fact that eOption offers among the lowest commission rates in the industry for stock and option trades, you will see that eOption is the clear choice for your Auto Trading needs. eOption has been servicing Auto Trading customer accounts since 2001.
How do I take advantage of this service?
First, make sure that you have properly subscribed to a participating newsletter publisher. Then complete and submit the Auto Trade Limited Trading Authorization and Terms and Conditions agreements. Once these steps have been completed, and your account is funded, you will be ready to begin participating in Auto Trading.
In order to auto trade, which investment objective should I choose when setting up my account?
eOption 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 eOption Auto Trade services. Auto Trade is only offered to accounts that have designated their investment objective as “Speculation”. By signing the eOption Terms & Conditions document, you accept, and are requesting that your account investment objective be updated to “Speculation”.
How do I know which service to select? Does eOption recommend any services?
While eOption works with many newsletter publishers, we do not recommend one service over another. We do not have access to newsletter publisher track records or historical performance data. Our only suggestion is to inquire with multiple services to ensure that you are comfortable with the strategy and are able to fully understand the risks associated with employing said strategy. Any reputable service should provide information that you request by contacting the service directly. Proper due diligence on the subscriber’s part is extremely important.
Does eOption track the performance of the newsletter publishers?
No. eOption does not track the performance of any newsletter publisher. Before making a decision to engage in Auto Trading, you should perform the due diligence necessary to ensure that you are comfortable with the risks associated with the methods employed by the newsletter publisher.
Which newsletter publishers are available for Auto Trading?
To see our complete list of newsletter publishers, visit http://www.eoption.com/auto_trading.html. If you do not see your newsletter publisher listed, contact the Auto Trade Department at 1-888-793-5333 so that eOption may determine if it is possible to establish Auto Trading with this newsletter publisher.
Can I participate in multiple newsletter services within one account?
eOption requires that customers open one account for each Auto Trade subscription.
Can I place my own trades in the same account I’m using for Auto Trading?
If you wish to make trades on your own, outside of your newsletter publisher’s activity, we require you open a separate account for such trading. Please keep in mind, if you place any non Auto Trading trades in your Auto Trading account, you will be held responsible for any margin calls, fed calls, or good faith violations that are generated due to personal trading in your account.
Am I guaranteed to participate in every trade alert?
The Auto Trade service is offered to you on a best efforts, not-held basis. We do our best to enter the recommendations as quickly and efficiently as possible. While we have back-up systems in place to ensure timely handling of orders, orders are subject to risk from errors of electronic systems, communications, market developments, and timing. In addition, other factors such as insufficient buying power or subscription lapses may cause missed trades.
Once I am set up to Auto Trade, how do I make changes to my allocation amount?
You are welcome to change your Auto Trade allocation at any time by using our electronic change request via the secure, web-based trading platform. Simply log into your account and click on the ‘Auto Trade’ tab (subcategory of Client Services) to access this information. Changes made online will go into effect the following business day by 8:00 AM EST.
How do I cancel my Auto Trade service or put it on hold?
If you desire to cancel or place on hold your Auto Trading status with eOption, you can log into your eOption brokerage account and click on the ‘Auto Trade’ tab (subcategory under Client Services) to access this information. Changes made online will go into effect the following business day by 8:00 AM EST. Please note: Once a subscription has been cancelled, you will not be able to activate auto trading until you complete a new Auto Trade Limited Trading Authorization form.
How do I add funds to my account?
There are various account funding options. You may fund your account via check, by requesting incoming or outgoing electronic funds transfer (ACH) between your bank and brokerage account, wire transfer, or transferring cash and/or securities from another brokerage account. Go to http://www.eoption.com/acct_funding.html for complete instructions for each account funding option.
Does eOption charge a fee for Auto Trading?
eOption will charge to each Auto Trade customer an Auto Trade processing fee in the amount of $1.50 per executed order, in addition to eOption’s normal commission charges. This processing fee will only be applied to Auto Trade orders physically entered by eOption’s Auto Trade desk. This processing fee does not apply to customers who enter their trades directly into the eOption platform and are not utilizing the Auto Trade desk.
REV. 06/29/2010