Availability of funds. Generally speaking the availability of funds is limited to the amount of the excess equity in your account. If you have no positions on, then the availability of the funds is the whole amount of the account. If you have any positions on, then the maximum available funds is the amount of excess equity. However if in the uncommon circumstance that your excess equity is larger than the account balance, then you will be limited to the amount of the account balance, not the entire excess equity.
There are additional circumstances that are subject to current risk, or changing margin and or account value of the market on any given day. This is determined by the margin department at the clearing firm.
When ever you want to take funds from your account simply let your broker know your request by phone or email. If your broker is not available at the time you want to request funds, you may call our main number 888-818-0880 and ask for anyone in administration.
Here are a few pointers that you need to be aware of;
If you request a check, there is no charge. If a wire is requested, then a fee of $20 will apply, or $30 if an international wire is requested.
Requests for funds must be placed before 1:00 PM CST at the clearing firm. Therefore in order to be processed the same day Foremost must have the request well before 1:00 PM in order for us to process the request and get it to PFG (the clearing firm) in time for that day’s processing. If the clearing firm receives the request after 1:00, they will be processed the following day
If a request for funds is made for a check, the check will always be made out to the name or names on the account. Examples: If an individual account, to the name on the account. If a joint account it will be made to all parties on the account. If the account is a Corporation, LLC, Trust, etc., then it will be made to that same name as the account is listed in. Checks will be mailed to the address on record, which is the address shown on your statement.
If a request for a wire is made, the receiving bank account has to have the same name on it as the account t that your account is named. Wires are released later in the afternoon even though the request was processed before 1:00 PM. You should not expect it to be received at your bank until late in the afternoon.