About Us » Frequently Asked Questions

From funding your account to trading futures, we’ve got your questions covered. Find the answers you need here.

    • Learn more about our company and how we can assist you with all of your trading needs.

    • What is optionsXpress Australia?
      optionsXpress Australia is a pioneer in online stock, options and futures brokerage service to the self-directed investor. We were founded by an experienced management team dedicated to providing investors with an innovative, leading-edge trading environment.
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      How long have you been in business?
      optionsXpress, Inc. was founded in February of 2000, and opened its web site on November 22, 2000. In 2003, optionsXpress Australia opened its website to Australian residents.
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      Where are you physically located?

      Our main office is at the following address:

      Unit 5, 4 Skyline Place
      Frenchs Forest NSW 2086
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      How are accounts protected?

      optionsXpress Australia Pty Ltd has engaged the services of optionsXpress, Inc. (OI) to provide clearing, execution and other securities related transactions for the accounts introduced by it. OI is a member of the Securities Investor Protection Corporation (SIPC) which provides assistance to customers in the case of bankruptcy and other financial failures. OI has additional insurance with Lloyds of London which is in excess of that provided by SIPC. Please contact us for more details.

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      How do I contact optionsXpress Australia during business hours?
      You may call us during Australian business hours at 1300 781 132. You may also chat online with customer service or trading staff using our during U.S. market hours.
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      What does a clearing agent do?
      A clearing agent is a separate financial company which administers certain back office functions on its behalf, including the preparation and handling of account statements, maintenance of and compliance with various books and records requirements, the disbursement of account funds and our custodian of customer assets.
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    • Trade from your computer at home or on the go, and follow your securities in real-time.

    • Do you offer any trading advice?
      No. Our accounts are for self-directed investors. We employ brokers to assist you with technical questions, as well as other general questions relating to strategy and trading. Additionally, our representatives may provide educational assistance, and FREE broker-assisted trades, but they do not provide any trading recommendations.
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      What trading products does optionsXpress Australia offer?
      We offer trading in stocks, equity and index options, ETFs and bonds—all on ONE platform.
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      What types of educational services are available?
      In addition to a full range of FREE curriculum-based tutorials and on-demand webinars, we also offer live webinars and occasional on-site workshops.
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      Can I get streaming quotes?
      Yes. optionsXpress Australia customers have access to unlimited tick-by-tick streaming real-time quotes for equities, options and futures.
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    • Opening an account is easy. Find out all you need to know before you begin.

    • Is there a minimum amount required to open an account?
      Yes. There is a USD $10,000 minimum deposit required to open an account. There is a USD $50 minimum to maintain an account, and the account must have enough buying power to pay for a trade before it is placed. Please review your trading strategy and fund the account to the appropriate level. In addition, a $2,000 minimum is required to maintain a margin account.
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      How do I transfer an account into optionsXpress Australia?
      An Account Transfer Form will need to be completed and returned to us with a copy of the most recent statement showing the title of the account, the account number, and an asset list. A signed account transfer form is required for each account being transferred to us. For more detailed information on transfers, please see the Account Transfer FAQ.
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      Why do I have to disclose personal information to open an optionsXpress Australia account?

      Due to regulatory requirements and the United States government’s efforts to fight terrorism and fraud, U.S. brokerages have been required to obtain, verify and record information about persons who open accounts and certain individuals related to them, including account signatories (in the case of entity accounts) and persons authorized to trade on behalf of accounts (LTAs).

      For more information please see the Customer Identification Program Notice from FINRA.

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      What are the requirements when I provide a certified copy of a government photo ID?

      All three of the following requirements must be met when providing a photo ID:

      • Valid non-expired government ID
      • Evidencing nationality or residence
      • And bearing a photograph or similar safeguard
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      What is the difference between a cash account and a cash/option account?
      The “Cash Account” does not permit options trading. The “Cash/Options” account will allow options trading, but only fully-paid-for options, like long calls or puts, cash secured puts, spreads, etc.
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      What level of options trading will a customer be approved for?

      Clients will be authorized to trade options after being reviewed based on experience and financial background among other criteria. Accounts will receive one of the following option trading levels:

      Trading Level Basic Definitions
        -1 0 1 2 3 4 5
      Trading Disabled ×            
      Trading Stocks / Bonds / Mutual Funds   × × × × × ×
      Covered Call Writing / Short Stock Sales     × × × × ×
      Buying Calls and Puts / Covered Put Writing       × × × ×
      Debit Spreads         × × ×
      Credit Spreads / Equity Put Writing           × ×
      Naked Equity Call Writing / Naked Index Put & Call Writing             ×
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      If I open an account online, do I still need to send in paperwork?
      optionsXpress Australia does not currently have a paper application. The initial account process begins online and will prompt you to print out and sign the application at the end. Please note that optionsXpress Australia may request additional information, such as a photo ID, to set up your account. On October 1st, 2003, new U.S. government regulations came into effect requiring that we verify your identity.
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      Can I fax or email my account paperwork?

      Most of our account documents are accepted via fax. Certain forms may require originals:

      Accounts – General
      Account Overview (Account Application)
      Account Transfer Forms (ACATs)
      Non-ACAT Transfers
      Affidavit of Domicile
      Birth Certificate
      Death Certificate
      Divorce Decree
      Identification Cards (Photo IDs)
      IRS W-8
      IRS W-9
      Letter of Instruction (LOI) & Letter of Authorization (LOA)
      Letters Testamentary
      Margin and/or Option Updates
      Marriage License
      Statements (for Account Transfers)
      Transfer on Death Agreement
      Business – Entity Accounts
      Articles of Incorporation
      Corporate Resolution
      Trust Agreement
      Trust Certification / ERISA
      Bank Statements
      Letter of Authorization
      Limited Power of Attorney (LTA) & Full Power of Attorney (FPA)
      Stock Power of Attorney
      Verification of Deposit
      5304 – SIMPLE
      5305 – E (for Coverdell Education Savings accounts)
      5305 – SEP
      Coverdell Education Savings
      Designation of Beneficiary
      IRA Distribution Form
      Roll-Over Certification
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      What types of accounts do you offer?
      The three main types of accounts available for trading at optionsXpress Australia are cash accounts, margin accounts, and futures accounts.
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      When will an account be ready for trading?

      An account is ready to trade when the account number and appropriate trading level has been assigned, and funds and/or assets have settled in the account. Accounts are generally opened within one or two business days of our receipt of the signed new account application documentation.

      It is important to note that while funds from an incoming bank wire, cashier’s check, or bank draft check are made available the next business day after they’ve been deposited, personal checks and ACH deposits are subject to a three business day hold. The cut-off for any deposit is 12:00 PM Eastern. Please see the Transfer Funds FAQ for more information.

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    • We offer quick and easy ways to deposit or withdraw funds from your account.

    • How do I electronically transfer Australian dollar funds into my optionsXpress account?

      General Instructions

      Before transferring your $AUD funds you must have an active optionsXpress account (i.e. an application form completed, processed and an account number assigned).

      Simply transfer your $AUD funds directly from your personal bank account via internet online banking or telephone banking to the following account:

      Mandatory Account Transfer Details

      JP Morgan Chase Bank
      Account Name
      212 200
      Bank Account No
      010 045 827
      Record your optionsXpress Account No. XXXX-XXXX. Your 8 digit optionsXpress account number can be obtained when you log into your optionsXpress account on the overview page

      We do NOT accept third-party deposits or funds from a third-party money transfer service. Transfers must be generated from a financial institution at which you have an account where the name matches to your optionsXpress account.

      Funds will typically be made available in your trading account in 2-3 business days.

      Electronic transfer is the quickest way to fund your optionsXpress account.

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      How do I deposit Australian dollar cheques into my optionsXpress account?

      Cheques are to be made payable to "optionsXpress".

      Write your optionsXpress account name & account number on the back of the cheque.

      Complete an optionsXpress Deposits Slip for your cheque deposit, they are available via your optionsXpress online account.

      Forward your $AUD cheque with your optionsXpress Deposit Slip to:

      Unit 5/ 4 Skyline Place
      Frenchs Forest, NSW, 2086

      We do NOT accept cheques deposited directly into the optionsXpress Australia JP Morgan wire account. Please send all cheques directly to the optionsXress Australia office per the details above.

      Personal Cheques are accepted where the name on the cheque is the same as the optionsXpress account.

      Bank Cheques are accepted only where the remitter's name is pre-printed on the cheque by the issuing bank. The remitter's name must be the same as the optionsXpress account.

      We do NOT accept deposits such as: Cash, Credit Card, Line-of-credit, Refund Cheques, Traveler's Cheques or Money Orders.

      We do NOT accept third party deposit (i.e. we do not accept cheques payable to optionsXpress from non-account holders or cheques where a recipient makes endorsement over to optionsXpress).

      For new accounts please attach your signed optionsXpress Account Application and any applicable supporting documents.

      Funds as a result of cheque deposits are generally available between 5-6 business days. However, deposits may be held up to 10 business days or longer depending on various circumstances.

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      How do I do a US dollar wire transfer into an account?

      General Instructions

      Please note before wiring funds, a new account application must be received, processed, and an account number assigned.

      We do NOT accept third-party wires or wires from third-party money transfer services. Wires must be generated from a financial institution at which you have an account where the registration matches to your optionsXpress Australia account.

      Funds must be in USD$ only. Applicable instructions, depending on currency and country of initiation, are noted below.

      Funding will generally be available same day after wire receipt.

      Please note the wire instructions cannot be used for ACH transactions.

      Please note that when transferring funds through your financial institution you may be subject to a number of transaction fees. Fees may include those that are charged by your financial institution, as well as fees charged by financial intermediaries that your financial institution may use to facilitate the transaction.

      We do not charge any fees on funds deposited into your account with optionsXpress Australia.

      Wire Instructions

      Wire Instructions for accounts that clear through optionsXpress, Inc.:

      JPMorgan Chase Bank, NA
      ABA # 021000021 (Domestic wires only)
      A/C 707660205 optionsXpress, Inc.
      F/C/T [your name here]
      A/C# [your 8 digit account number]
      Bank Address (wires only—do NOT mail funds)
      4 New York Plaza
      New York, NY 10004
      Swift Code
      CHASUS33 (International wires only)
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      How do I establish ACH service for accounts at optionsXpress Australia?

      The ACH set-up process can be initiated by clicking the Establish ACH link on the Transfer Funds page. Once we receive the signed ACH application, we will notify you through a series of e-mails of the steps needed to verify your link. The final email will also supply you with more detailed instructions on how to use the service.

      Once ACH is established, a request to deposit funds can be made on the Transfer Funds page under the Account tab.

      All ACH deposit requests must be received by 3:30pm ET to be processed same business day. All other requests will be processed on the following business day.

      ACH deposits will be available for trading on the third business day after processing.

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      How do I deposit a security certificate into an account?

      To mail a stock certificate for deposit into an account, follow the instructions below:

      1. Sign your name on the back of the certificate exactly as it is spelled on the front of the certificate. All names listed on the certificate must endorse the back. View sample stock certificate.
      2. You will then need to appoint our clearing agent, optionsXpress, Inc., as the attorney to transfer on the back of the certificate, where it states “… I do hereby irrevocably constitute and appoint __________ Attorney to transfer …”
      3. Write the optionsXpress account number under your endorsement. For new accounts, please include your username. Please note: everything else on the certificate should be left blank.

      For added security, we recommend that you send your certificate(s) using a method that can be tracked (e.g. FedEx, UPS, Registered or Certified Mail). Please mail your certificates to:

      optionsXpress Australia Pty Limited
      Unit 5, 4 Skyline Place
      Frenchs Forest NSW 2086
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      How do I withdraw or transfer funds from an account?

      You have several options when withdrawing or transferring funds from optionsXpress Australia.

      By Cheque
      You can request a check simply by logging into the account and clicking on the Transfer Funds link under the Account tab. From there you will see a Cheques link below "Withdraw from optionsXpress Australia" where you can select to have a check mailed to the address of record.
      By Wire Transfer
      A wire can be initiated by logging into the account and going to Transfer Funds under the Account tab. Clicking on the Wire link under "Withdraw from optionsXpress Australia" will lead you to the Wire Requests form. All required information will need to be completed.
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