If your account begins with a “U”, your account is associated with our clearing firm, Interactive Brokers. All fund deposit and withdrawal information, trade confirmations and statements are available directly through their “Account Management” site. You should have received two welcome emails; one email contains login information solely for access to Account Management; the second email contains login information to access your ChoiceTrade Trading Platform. You may access the Account Management site by clicking here, or by logging into the Trading site and clicking on the “Manage Account” tab, then clicking on the “E-Documents” or the “Fund Account” links.
There are a variety of ways to fund your account. While most deposited funds are available to trade with the business day they are received, some, such as initial personal checks sent to fund a new account, require a ten (10) business day hold before trading or withdrawal is possible.This period may be shortened by faxing us a copy of your cancelled check, or a copy of your banking statement or online report showing the posted check has cleared.
IMPORTANT NOTE FOR IRA DEPOSITS: Each deposit into an IRA account must be accompanied by an IRA Deposit Slip. Without this document, the deposit will be returned.
Sending a wire is the fastest way to fund your ChoiceTrade account as wires are usually received the same day from your financial institution (international wires may take longer). We charge no fees for incoming wires.
Note: All wire transfers must originate from an account
that has the exact title of your ChoiceTrade account
Bank Name: BMO Harris Bank N.A Bank Address: 111 W. Monroe St.
Chicago IL, 60603 ABA# of Bank: 071-000-288 SWIFT (foreign only): HATRUS44 Beneficiary Name: Vision Financial Markets LLC Beneficiary Address:
120 Long Ridge Road, 3 North
Stamford, CT 06902-1839 Beneficiary Account #: 4376372 FFC: Your Brokerage Account Name and Account Number
Bank Name: MB Financial Bank, N.A. Bank Address: 800 W. Madison St. Chicago, IL 60607 ABA# of Bank: 071001737 Credit Acct#: 0691-76019 Acct Name: Millennium Trust Company, LLC For Further Credit #: (Insert name) Millennium Acct#: (Insert Acct#)
Automated Clearing House (ACH)
ACH is a fast, free way to electronically deposit or withdraw funds between your ChoiceTrade account and your checking or savings bank account.
INCOMING ACH DEPOSIT
To deposit funds in your account, please submit an Incoming ACH Form for each transfer. The first time you submit the form, please include a voided check.
NOTE: The first incoming transfer you process takes approximately five business days to clear. After that event has been successful, subsequent transfers generally take one or two business days. There is a $50 minimum and $5,000 maximum limit for each incoming ACH.
ACH is not available for first-time funding and non-resident accounts.
OUTGOING ACH WITHDRAWAL
To withdraw funds from your ChoiceTrade account to your bank, please submit an Outgoing ACH Form for each transfer.
NOTE: There is a $10,000 maximum limit for each outgoing ACH request
ChoiceTrade accepts personal checks imprinted with the client name and address. We do not accept money orders, bank checks, cashier's checks, credit card checks, third party, or traveler's checks. A third party check is any check that is drawn on an account with a name that is not identical to the name on your ChoiceTrade account or any check that is not made payable to the clearing firm.
Mail checks to:
Vision Financial Markets LLC
120 Long Ridge Road, 3 North
Stamford, CT 06902-1839
Make checks payable to "Vision Financial Markets, LLC" and write your ChoiceTrade number in the memo section.
Mail checks to:
Millennium Trust Company, LLC
F/B/O: (Insert Name)
2001 Spring Road, Suite 700
Oak Brook, IL 60523
Make checks payable to "Millennium Trust Company, LLC" and write your Millennium account number in the memo section.
ACH Funds TransferTo set up ACH transfer capability to transfer funds directly from your checking, or savings, account. This is the most convenient way to manage funds transferred in, or out,
of your ChoiceTrade account. To use ACH, you will first need to set up an ACH Relationship. Step-by-step instructions are included below. Once your ACH Relationship is active,
you may simply log in to your account and select >Account< and then >Funds Transfer< and send funds in or out without a fee. Initialization may take five business days. You may
avoid this waiting period by printing a copy of your online bank account showing the debit in your bank account and emailing or faxing this to us.
If you wish to set up an ACH Relationship please log into your ChoiceTrade account and click on the Accounting tab. The screen will prompt you for personal information,
please enter the requested information correctly. (You will be asked to enter this information only once, not each time you want to send an ACH. You may also sign up for
electronic confirms and statements during this process). Once you have entered this information, please click on Tools and then click on the ACH Relationship link. There
will be a box where you will need to enter your ChoiceTrade account number and then click REQUEST NEW. After you do this, the screen will ask for your
bank information, account number and account nickname (you can choose anything you want: checking, savings, etc.) After the information is filled out completely, please click
Submit, which will begin the ACH Relationship process.
The next step is to check your bank account online after two to three days for two small penny-sized deposits from our clearing firm. Please note the exact amounts you
see in your bank account and log back in to ChoiceTrade, click on Accounting/Tools/ACH Relationship -- you will see the box for your account number. After entering your account number
click REFRESH VIEW. You will now see your name, account number, bank nickname etc. Please click on the green checkmark. You will see two fields to enter the two deposit amounts
that our clearing firm made to your bank account. Please enter these amounts (for example, if one deposit is two cents and the other is five cents, please enter .02 and .05 in
the two fields). Then click Submit to activate your ACH Relationship.
Once your relationship is active you must log out. Then log back in to your ChoiceTrade account, click on Account/Funds Transfer and follow the instructions.
Automated Customer Account Transfer (ACAT)
You can use an ACAT to transfer an entire account or partial account (including cash and securities) from another broker to your ChoiceTrade account by completing an ACAT Form. You must include a copy of your most recent monthly statement from the transferring broker.
DTC is a method of transferring fully paid-for positions from your account at another broker to ChoiceTrade. DTC transfers cannot be used if you are competely liquidating and closing your other account and typically take 2-3 business days to complete.