Comments for indexfundfan @ indextown http://www.indextown.com Personal finance and investing in mutual funds and ETFs Mon, 24 Sep 2012 13:44:35 +0000 hourly 1 http://wordpress.org/?v=3.1.3 Comment on Tradeking changes its ACH holding time to 60 business days by dogmanor http://www.indextown.com/archives/2008/12/13/tradeking-changes-its-ach-holding-time-to-60-business-days/comment-page-1/#comment-30615 dogmanor Mon, 24 Sep 2012 13:44:35 +0000 http://www.indextown.com/?p=581#comment-30615 I tried to sell some stock on trade king starting on Monday 09/17/2012. I needed the cash by 09/25/2012. They held the trade in pending for one full day. Then they held it in holding status for another day (Tuesday). Wednesday morning I got an email that the trade was completed and I made a ACH transfer which was denied as it was after 2:55 EST and would not go through until Thursday. Thursday the transfer did not take place and the online transfers screen indicated the transfer was in hold. I called them and they told me that was an error and the transfer would take place Friday (09/21/2012). I did not check the transfer until later in the day to find it was still in hold until the 24th. Monday after 9:00 EST I checked my account and the transfer status was changed to processed, but no money had been transferred. On one more call I was told there would be an additional 3 day hold waiting for an approval agent. I had an emergency and needed the money by the 25th now I'm looking at 10 days total until I can expect my cash. Do not do business with these schiesters. I tried to sell some stock on trade king starting on Monday 09/17/2012. I needed the cash by 09/25/2012. They held the trade in pending for one full day. Then they held it in holding status for another day (Tuesday). Wednesday morning I got an email that the trade was completed and I made a ACH transfer which was denied as it was after 2:55 EST and would not go through until Thursday. Thursday the transfer did not take place and the online transfers screen indicated the transfer was in hold. I called them and they told me that was an error and the transfer would take place Friday (09/21/2012). I did not check the transfer until later in the day to find it was still in hold until the 24th. Monday after 9:00 EST I checked my account and the transfer status was changed to processed, but no money had been transferred. On one more call I was told there would be an additional 3 day hold waiting for an approval agent. I had an emergency and needed the money by the 25th now I’m looking at 10 days total until I can expect my cash. Do not do business with these schiesters.

]]> Comment on TD Ameritrade New Account Bonus by Howard http://www.indextown.com/archives/2011/06/04/td-ameritrade-new-account-bonus/comment-page-1/#comment-29020 Howard Thu, 23 Feb 2012 06:48:55 +0000 http://www.indextown.com/?p=1001#comment-29020 Thanks for the reply. I think I'll create an account through online registration like you did and see what happens. Thanks for the reply. I think I’ll create an account through online registration like you did and see what happens.

]]> Comment on TD Ameritrade New Account Bonus by indexfundfan http://www.indextown.com/archives/2011/06/04/td-ameritrade-new-account-bonus/comment-page-1/#comment-29014 indexfundfan Wed, 22 Feb 2012 23:27:43 +0000 http://www.indextown.com/?p=1001#comment-29014 I did not do anything special. In fact the two accounts have the same registration. One possibility is that TDA has tightened the rules in the past few months. I did not do anything special. In fact the two accounts have the same registration. One possibility is that TDA has tightened the rules in the past few months.

]]> Comment on TD Ameritrade New Account Bonus by Howard http://www.indextown.com/archives/2011/06/04/td-ameritrade-new-account-bonus/comment-page-1/#comment-29013 Howard Wed, 22 Feb 2012 22:33:29 +0000 http://www.indextown.com/?p=1001#comment-29013 I also called TD Ameritrade about opening a new account and qualifying for this bonus (I am an existing customer). I was told that I could do so, but that the new account had to be different in some way - that I could not have two accounts with the same individual registration. How did you get around this? I also called TD Ameritrade about opening a new account and qualifying for this bonus (I am an existing customer). I was told that I could do so, but that the new account had to be different in some way – that I could not have two accounts with the same individual registration. How did you get around this?

]]> Comment on Refinance Started With First Internet Bank by savvyhousewife http://www.indextown.com/archives/2011/06/06/refinance-started-with-first-internet-bank/comment-page-1/#comment-27187 savvyhousewife Wed, 31 Aug 2011 13:13:14 +0000 http://www.indextown.com/?p=1005#comment-27187 I was looking to refinance my home mortgage which currently is at 4.25%. After doing a lot of research on the internet,I narrowed it down to Amerisave and First internet Bank. I could get a 3.37% rate with about $3000 in credit towards closing cost. I worked with the officer Melanie Smith. She was very helpful and we locked in the rate. I have a credit score of average from three companies-790 ,very little debt. I had bought the house for $545,000 a year ago. I was feeling pretty good about refinancing and saving some money which could go towards paying my teenager's car insurance. Imagine the shock when I got the property appraiser's report -valuing at $435,00.How can the value of house drop from year ago when another appraiser valued it at $545,000 to $435,00? Also interesting was the fact that the appraiser took the pictures of my kids bedroom where the bed was not made and the bonus room where all the kids mess could be seen but not the family room or living room or master bedroom. Also the houses picked for comparison were picked deliberately that had the lowest value. So the company makes money on the appraisal and the bank does not have to refinance at the low rate. I was looking to refinance my home mortgage which currently is at 4.25%. After doing a lot of research on the internet,I narrowed it down to Amerisave and First internet Bank. I could get a 3.37% rate with about $3000 in credit towards closing cost. I worked with the officer Melanie Smith. She was very helpful and we locked in the rate. I have a credit score of average from three companies-790 ,very little debt. I had bought the house for $545,000 a year ago.
I was feeling pretty good about refinancing and saving some money which could go towards paying my teenager’s car insurance.
Imagine the shock when I got the property appraiser’s report -valuing at $435,00.How can the value of house drop from year ago when another appraiser valued it at $545,000 to $435,00?
Also interesting was the fact that the appraiser took the pictures of my kids bedroom where the bed was not made and the bonus room where all the kids mess could be seen but not the family room or living room or master bedroom. Also the houses picked for comparison were picked deliberately that had the lowest value.
So the company makes money on the appraisal and the bank does not have to refinance at the low rate.

]]> Comment on Refinance Started With First Internet Bank by indexfundfan http://www.indextown.com/archives/2011/06/06/refinance-started-with-first-internet-bank/comment-page-1/#comment-27052 indexfundfan Fri, 12 Aug 2011 05:02:18 +0000 http://www.indextown.com/?p=1005#comment-27052 It's completed. Sorry for not updating. Old loan was paid off on 6/28. FirstIB delivered as promised. In fact I am now in the process of another refi with FirstIB, lowering the rate to 4.125% (same 30-yr loan). It’s completed. Sorry for not updating. Old loan was paid off on 6/28. FirstIB delivered as promised.

In fact I am now in the process of another refi with FirstIB, lowering the rate to 4.125% (same 30-yr loan).

]]> Comment on Refinance Started With First Internet Bank by Ace http://www.indextown.com/archives/2011/06/06/refinance-started-with-first-internet-bank/comment-page-1/#comment-27051 Ace Fri, 12 Aug 2011 02:27:39 +0000 http://www.indextown.com/?p=1005#comment-27051 How did the refi with First IB end up? How did the refi with First IB end up?

]]> Comment on Regressive tax brackets under AMT by 2007 Tax Year AMT Brackets - The Finance Buff http://www.indextown.com/archives/2006/07/20/regressive-tax-brackets-under-amt/comment-page-1/#comment-26166 2007 Tax Year AMT Brackets - The Finance Buff Thu, 14 Apr 2011 19:32:51 +0000 http://www.indextown.com/archives/2006/07/20/regressive-tax-brackets-under-amt/#comment-26166 [...] For AMT Income between P and X, the marginal AMT rate is 32.5%; between X and Y, it’s 35%. Once you go over Y, the AMT rate drops to 28%. If you are curious in how the formula for X and Y are derived, please read this blog post by IndexFundFan. [...] [...] For AMT Income between P and X, the marginal AMT rate is 32.5%; between X and Y, it’s 35%. Once you go over Y, the AMT rate drops to 28%. If you are curious in how the formula for X and Y are derived, please read this blog post by IndexFundFan. [...]

]]> Comment on Low Fees Foreign Exchange Using CurrencyFair (Part 2) by indexfundfan @ indextown » Blog Archive » Low Fees Foreign Exchange Using CurrencyFair (Part 1) http://www.indextown.com/archives/2011/03/21/low-fees-foreign-exchange-using-currencyfair-part-2/comment-page-1/#comment-25915 indexfundfan @ indextown » Blog Archive » Low Fees Foreign Exchange Using CurrencyFair (Part 1) Mon, 21 Mar 2011 14:24:43 +0000 http://www.indextown.com/?p=970#comment-25915 [...] finance and investing in mutual funds and ETFs « Portfolio Return for January 2011 Low Fees Foreign Exchange Using CurrencyFair (Part 2) [...] [...] finance and investing in mutual funds and ETFs « Portfolio Return for January 2011 Low Fees Foreign Exchange Using CurrencyFair (Part 2) [...]

]]> Comment on Low Fees Foreign Exchange Using CurrencyFair (Part 1) by indexfundfan @ indextown » Blog Archive » Low Fees Foreign Exchange Using CurrencyFair (Part 2) http://www.indextown.com/archives/2011/03/12/low-fees-foreign-exchange-using-currencyfair-part-1/comment-page-1/#comment-25914 indexfundfan @ indextown » Blog Archive » Low Fees Foreign Exchange Using CurrencyFair (Part 2) Mon, 21 Mar 2011 14:22:37 +0000 http://www.indextown.com/?p=954#comment-25914 [...] indexfundfan @ indextown Personal finance and investing in mutual funds and ETFs « Low Fees Foreign Exchange Using CurrencyFair (Part 1) [...] [...] indexfundfan @ indextown Personal finance and investing in mutual funds and ETFs « Low Fees Foreign Exchange Using CurrencyFair (Part 1) [...]

]]> Comment on Adios to Wells Trade by indexfundfan http://www.indextown.com/archives/2010/01/15/adios-to-wells-trade/comment-page-1/#comment-25830 indexfundfan Tue, 08 Mar 2011 23:28:57 +0000 http://www.indextown.com/?p=807#comment-25830 Dave, if I recall correctly, I closed out the bank account first, then transferred out my holdings, then closed the brokerage account. The reason was because without the brokerage assets (>$25k), I would be hit with the PMA monthly fees. Note: If your total assets drop below $25k, your trades will not be free but it is not important as I was already transferring out the account. Are you stuck with huge capital gains? If no, you can just sell the assets, transfer out the cash, then close the account. There will be no ACAT fee for this. If you need to ACAT, I have heard that partial transfer fees can be waived. You might want to try that first. Just transfer out those assets with capital gains leaving one or two behind, which you eventually sell and transfer the cash out. In all cases, you need to watch the total assets level if you want to avoid the PMA fee. Dave, if I recall correctly, I closed out the bank account first, then transferred out my holdings, then closed the brokerage account.

The reason was because without the brokerage assets (>$25k), I would be hit with the PMA monthly fees. Note: If your total assets drop below $25k, your trades will not be free but it is not important as I was already transferring out the account.

Are you stuck with huge capital gains? If no, you can just sell the assets, transfer out the cash, then close the account. There will be no ACAT fee for this.

If you need to ACAT, I have heard that partial transfer fees can be waived. You might want to try that first. Just transfer out those assets with capital gains leaving one or two behind, which you eventually sell and transfer the cash out.

In all cases, you need to watch the total assets level if you want to avoid the PMA fee.

]]> Comment on Adios to Wells Trade by Dave http://www.indextown.com/archives/2010/01/15/adios-to-wells-trade/comment-page-1/#comment-25829 Dave Tue, 08 Mar 2011 22:50:34 +0000 http://www.indextown.com/?p=807#comment-25829 I'm ready to bail on Wells Fargo. Ever since they converted my account to Well Fargo Advisors, it has been a total mess. The customer support people are not friendly or helpful. What sequence did you follow to close out both the Brokerage and PMA accounts? Did you liquidate your holdings or did you do an ACAT transfer? I want to minimize the number of fees this stupid bank charges me, so I want to get the process right. Any help you can provide would be appreciated. I’m ready to bail on Wells Fargo. Ever since they converted my account to Well Fargo Advisors, it has been a total mess. The customer support people are not friendly or helpful. What sequence did you follow to close out both the Brokerage and PMA accounts? Did you liquidate your holdings or did you do an ACAT transfer? I want to minimize the number of fees this stupid bank charges me, so I want to get the process right. Any help you can provide would be appreciated.

]]> Comment on Tradeking is holding my money hostage by Edward C http://www.indextown.com/archives/2008/12/10/tradeking-is-holding-my-money-hostage/comment-page-1/#comment-25665 Edward C Sat, 05 Feb 2011 08:11:38 +0000 http://www.indextown.com/?p=574#comment-25665 I should have read your warning. I actually have the same problem as you trying to withdrawal my money and switch to a different broker. My biggest deposite is actually a Bank Check but they treated the withdrawal request like I ACH in the Money subject to the rules of an ACH withdrawals. This is definately a dishonest company when it comes to trying to keep your Business. Basically their business moto is; if you want to leave, we are going tie you up. I should have read your warning. I actually have the same problem as you trying to withdrawal my money and switch to a different broker. My biggest deposite is actually a Bank Check but they treated the withdrawal request like I ACH in the Money subject to the rules of an ACH withdrawals.

This is definately a dishonest company when it comes to trying to keep your
Business. Basically their business moto is; if you want to leave, we are going
tie you up.

]]> Comment on Brokers With Lowest Margin Interest Rates by James Watson http://www.indextown.com/archives/2009/05/09/brokers-with-lowest-margin-interest-rates/comment-page-1/#comment-25544 James Watson Sat, 08 Jan 2011 12:55:28 +0000 http://www.indextown.com/?p=602#comment-25544 Well, Tom, it seems that almost nobody understands how to manage high margin trades properly. It's obvious that the risk is higher but it can be controlled and that's something every trader should learn sooner or later. Well, Tom, it seems that almost nobody understands how to manage high margin trades properly. It’s obvious that the risk is higher but it can be controlled and that’s something every trader should learn sooner or later.

]]> Comment on Reverting back to using checks instead of ACH by Natalia Payroll http://www.indextown.com/archives/2009/11/16/reverting-back-to-using-checks-instead-of-ach/comment-page-1/#comment-25517 Natalia Payroll Fri, 31 Dec 2010 10:01:13 +0000 http://www.indextown.com/?p=800#comment-25517 Electronic transfers are of course more conventional than checks. However, system gliches create the issues with this process. Checks, on the other hand, may take longer clearing process but fraudulent transactions are very minimal since all details are being verified first. Electronic transfers are of course more conventional than checks. However, system gliches create the issues with this process. Checks, on the other hand, may take longer clearing process but fraudulent transactions are very minimal since all details are being verified first.

]]> Comment on Portfolio Return for April 2010 by BBMak http://www.indextown.com/archives/2010/07/18/portfolio-return-for-april-2010/comment-page-1/#comment-25408 BBMak Sun, 05 Dec 2010 06:04:07 +0000 http://www.indextown.com/?p=887#comment-25408 Thank you so much again. You are right. It is always good to read all the terms before sign up. It is lucky that I haven't submit my transfer form yet to TK. I guess I just close the account of TK. Yes, I saw that in promotion. I would probably call them on Monday to clarify some of the terms and questions. I don't really mind about the free-trade but I want a reliable discounted broker with great customer support. $2.95 a trade makes me feel unsecured broker, not sure are there any catches come with it? Funny feeling Thank you so much again. You are right. It is always good to read all the terms before sign up. It is lucky that I haven’t submit my transfer form yet to TK. I guess I just close the account of TK.

Yes, I saw that in promotion. I would probably call them on Monday to clarify some of the terms and questions. I don’t really mind about the free-trade but I want a reliable discounted broker with great customer support.

$2.95 a trade makes me feel unsecured broker, not sure are there any catches come with it? Funny feeling

]]> Comment on Portfolio Return for April 2010 by indexfundfan http://www.indextown.com/archives/2010/07/18/portfolio-return-for-april-2010/comment-page-1/#comment-25407 indexfundfan Sun, 05 Dec 2010 04:21:41 +0000 http://www.indextown.com/?p=887#comment-25407 BBMak, yes I dumped Tradeking shortly after I was able to transfer out my remaining holdings. Looking at the OH website, I think they do cover transfer fees up to $100 (ACAT rebate): http://www.optionshouse.com/promotions/ It appears they are also offering free trades. It's always best to shoot their customer service an email to clarify everything before submitting the application. BBMak, yes I dumped Tradeking shortly after I was able to transfer out my remaining holdings.

Looking at the OH website, I think they do cover transfer fees up to $100 (ACAT rebate):

http://www.optionshouse.com/promotions/

It appears they are also offering free trades.

It’s always best to shoot their customer service an email to clarify everything before submitting the application.

]]> Comment on Portfolio Return for April 2010 by BBMak http://www.indextown.com/archives/2010/07/18/portfolio-return-for-april-2010/comment-page-1/#comment-25406 BBMak Sun, 05 Dec 2010 00:41:24 +0000 http://www.indextown.com/?p=887#comment-25406 Thank you for the quick reply. Do you know the optionhouse.com cover the Transfer Fees? I have checked out their site, but I don't see any thing about covering the transfer fee. So, is that mean that you are not using Tradeking anymore? Thank you for the quick reply.

Do you know the optionhouse.com cover the Transfer Fees? I have checked out their site, but I don’t see any thing about covering the transfer fee.

So, is that mean that you are not using Tradeking anymore?

]]> Comment on Portfolio Return for April 2010 by indexfundfan http://www.indextown.com/archives/2010/07/18/portfolio-return-for-april-2010/comment-page-1/#comment-25405 indexfundfan Sun, 05 Dec 2010 00:26:27 +0000 http://www.indextown.com/?p=887#comment-25405 Currently, I have two active brokerage accounts for my taxable investments -- Vanguard and eOption.com. I trade all Vanguard ETFs with Vanguard because they are commission-free. About anything else I use eOption, which offers $3 per trade with unlimited shares. You could also check out OptionsHouse.com. I have read good reviews on them. Currently, I have two active brokerage accounts for my taxable investments — Vanguard and eOption.com.

I trade all Vanguard ETFs with Vanguard because they are commission-free. About anything else I use eOption, which offers $3 per trade with unlimited shares.

You could also check out OptionsHouse.com. I have read good reviews on them.

]]> Comment on Portfolio Return for April 2010 by BBMak http://www.indextown.com/archives/2010/07/18/portfolio-return-for-april-2010/comment-page-1/#comment-25404 BBMak Sat, 04 Dec 2010 19:00:20 +0000 http://www.indextown.com/?p=887#comment-25404 Can you recommend me a discount brokers, except Scottrade and TD Ameritrade because I have these 2 accounts already. Currently, one of my brokers, Merrill Edge increases the fees, and I want to transfer out of that account. First, I have thought about Tradeking, but after reading your blog, I want to reconsider about it. If you have any good recommendation, please let me know. Thank you very much. Can you recommend me a discount brokers, except Scottrade and TD Ameritrade because I have these 2 accounts already. Currently, one of my brokers, Merrill Edge increases the fees, and I want to transfer out of that account. First, I have thought about Tradeking, but after reading your blog, I want to reconsider about it. If you have any good recommendation, please let me know. Thank you very much.

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