FAQ

FAQ
  • What is an account opening process at Short-Trade? +

    Once you complete the request form for opening an account on the site, our representative will contact you with via e-mail with the instructions and forms required to open an account:1a. Customer details (I.D. and passport/ valid driving license)1b. Trade Contract – mark the requested trade option and trade tool – software/WEB interface1c. Beneficiary declaration in a corporate account1d. Declaration for the clearing houseOnce you complete the forms and send them back to Short-Trade and following their approval, a request will be sent for an initial deposit in the account.The trader will receive his/her user details for the trade system and the Trade-Reporting tracking system within 5 business days following the deposit.
  • I have an active account at another company. What are the advantages of opening an account with Short-Trade? +

    The main reasons that make opening an account at Short-Trade worthwhile, and cannot be found at other companies, are:1a. Short-Trade charges the lowest commissions in the country (and among the lowest in the world).1b. Diverse and quality trading systems that provide real-time quotations.1c. Movement tracking system and up-to-date current activity and complete information transparency for the customer.1d. Available and convenient response and support in Hebrew.1e. Quick and simple account opening account.1f. Option for upgrading the account and commission options without obligation.
  • I have funds / stocks (positions) in an active account at another company / abroad. Can these be transferred to my account at Short-Trade? +

    No. The American law prohibits the transfer of funds/stocks between brokerage companies to prevent the possibility of laundering. In order to open an account at Short-Trade it is necessary to close transactions in a former account and transfer the money to a private account. After opening the new account at Short-Trade it is required to perform the deposit and complete the trade account opening process.
  • What is required from me in regard to the accountability to the tax authorities? +

    Short-Trade does not tax profits of its customers, so the responsibility and accountability to the local tax authorities lies solely with the customer. Short-Trade provides a link to an annual accountant service for a nominal fee. Contact us for details.
  • How can I make a tax report on profits in my trade portfolio? +

    For wage earners – accountability is annual, until October. Report forms can also be submitted earlier. The report is made of interest received on actual revenues (on a cash basis). The approximate tax rate is 25-30% of the total amount. Charge will be for "capital profits" - trade of securities / dividends. Withdrawals to accounts overseas must be reported to the tax authorities. For those defined as residents (physically, even if not registered as such), the process includes opening an ad-hoc Income Tax file and providing "balance confirmations" from the Trade-Reporting system. Cost of the service is NIS300+VAT per year for a standard file. *Price may vary for complex files. It is recommended to mention that you have been referred by Short-Trade. Self-employed must perform a tax report directly through an accountant.
  • What collaterals are provided by Short-Trade? Where is the money I have deposited in the account kept? +

    Short-Trade is given fiscal collaterals from the Penson international clearing house. All customers with an active account receive collaterals from Short-Trade according to the deposited amount. Direct collaterals for opening an account with a minimum amount of $25,000 and an average of up 3 operations a month can be received directly from the broker. It is also possible to perform collaterals through a lawyer in Israel for a surcharge of 2% to the annual commission.
  • Is it also possible to open a trading account in future contracts? +

    Yes. Short-Trade provides trading services in future contracts, through the Trans-Act system. On the site, you can find information about the costs of managing a contract account as well as fill in a contract account opening form.
  • Is it also possible to open a trading account that will be managed through phone orders? +

    Yes it is. We recommend independent trading, but it is possible to manage a trading account through phone orders at the following costs: 1-10 orders: $5 per trade 10-20 orders: $7.5 per trade 20-40 orders: $15 per trade *fees will only be charged if the service is used
  • How should I fill in the forms I have received? +

    The Trade Agreement Contract contains 15 pages. Page 1 – fill in your name and I.D. number. Page 12 – add your full name, signature and the date. Page 14 – select the commission program*. Page 15 – add your name and signature and select the requested trade software / manner. Beneficiary Declaration Form – under "Private Account" fill in the name and signature of the account owner and the date. Once completed, fax the form to 153-2-6528015 Or Send it via E-Mail to eldar@short-trade.com. Detail Form for the Penson Clearing House A photocopy of the I.D. (including tab) and a valid passport/ driving license must also be attached. Question: I have sent the forms I received. How long will it be until I can start trading? Question: I have filled in and returned the forms I received. Why can't I start trading? Answer: Once you complete the forms and send them back to Short-Trade and following their approval, a request will be sent for an initial deposit in the account. The trader will receive his/her user details for the trade system and the Trade-Reporting tracking system within 5 business days following the depositing. Question: What are the commissions for opening a trading portfolio? Answer: Portfolio opening commission - $25 HKD to USD conversion commission – 0.19% USD to HKD conversion commission – 0.175% Question: Would it be better to deposit NIS or USD in the trading account? Answer: Both HKD and USD may be deposited. The trading account is managed in USD, yet there is also an option to make a HKD deposit and perform the conversion through the Short-Trade Corporation. When depositing USD, local banks charge a higher commission for the transfer of foreign currency between accounts, which changes in accordance with the daily exchange rates. We recommend making a NIS deposit and enjoying Short-Trade's lower fees. Question: Is it possible to freeze an active account? Are there fixed commissions which cannot be frozen? What is the interest paid on funds in the account? Answer: Trading accounts can be frozen, as well as trading activity (WEB interface or software). (The charge for the trading account tool is monthly. Charging takes place at the beginning of each month. The interest on funds in the account is in accordance with the regulations of U.S. banks (approximately 0.002% annually).
  • Could it be that orders I've placed have disappeared? +

    The possible reasons for this are – $11. A GTC was not placed. $12. Since the server is off at weekends, the orders will be updated at the beginning of the trade week.
  • Why do my orders occasionally not accepted? +

    The possible reasons for that are – $11. Future orders are queued up. You are on the waiting list, and there are other demands ahead of you. The stock had probably gone the other way before your turn came, so the order was not executed. $12. In case you are trading a stock that has a high spread between ask and bid, there may be a situation where the market gives a higher/lower bid than the price you have placed (Up/Down-Gap). In such a case, although the stock has exceeded the price you asked for, the transaction will not be performed before the next print. $13. The order was given out of trading hours.
  • The trading system 'gets stuck' and does not respond. Why? +

    You must make sure that you meet the requirements for using the trading system – $11. Windows XP operating system and above. $12. Minimum 512MB RAM processor memory $13. For WEB users: $1a. Use Windows Explorer browser In case you are using Chrome or Mozilla Firefox, you can install an add-on called IE-TAB. $1b. Make sure that surfing is not blocked by any antivirus/firewall or other protection software. $1c. Security systems automatically log users out in case no action has been performed for several minutes. Refresh the browser or log in again in case you've been logged out. $14. For Level 1.5/2 users: $1a. Use of the trade systems requires an internet connection with a minimum speed of 2.5MB. $1b. Ask your internet service provider to add you to the Gamers/Trade package, which will give you bandwidth priority. $1c. In case you are using a router, make sure that there are no blocked ports. You can use the support menu for assistance in order to check which ports should be given access for the system.
  • Is it also possible to trade using the Level 1.5/2 software on computers with a Mac operating system? +

    Yes. Contact us for details.
  • I am trying to put a Limit/Short order on a certain stock, and receive a system message saying it is not Shortable. Why? +

    "Can't Shortable" messages are received for stocks that in which performing a Short operation is restricted. The reason is that the issuing company or the stock exchange has restricted Short operations. This is subject to change any time without prior notice. These restrictions can be identified in the Level 1.5/2 system by the letter 'S' located under the anchor sign.
  • I'm trying to place a Profit Target or Stop-Loss order and I receive a 'check open order' message. What does this mean? +

    Question: The possible reasons for this are – $11. Attempt to perform two orders (Stop and Profit Target) on a stock with a non-shortable status. Possible solution: Place the Stop Range order on half of the amount, and the Stop Market order on the other half. $12. Placing a Profit Target order before placing the Stop Loss order. Possible solution: Place the Stop – Profit Target order before the Limit – Stop-Loss order.
  • What is an options account opening process at Short-Trade? +

    This is a process similar to the stocks account opening process (explanation). Once you complete the request form for opening an account on the site, our representative will contact you with instructions via e-mail. The difference between managing a stock and an options account lies in the minimum deposit for opening the account.
  • What are the fees? Are there any additional fees? +

    The fees for opening an options account are detailed in the stocks and options commission page.
  • Is it possible to order a demo? How? For how long? +

    A demo can be ordered by filling in a request form and selecting the stocks and options demo option
  • Where can I find a user guide? +

    The user uide (in English) can be found in the trading software's Help menu.
  • In case I have an active stocks account, how can I start trading options as well? Do I have to open another account in order to trade options as well? +

    If the amount of the liquid portfolio is at least $5000, a request must be sent to us to update the trading system for options trading. If the amount of the liquid portfolio is less than $5000, you must make another deposit to reach that amount and contact us afterwards.
  • What is the difference between stocks and options trade? +

    Contract (option) = 100 stocks. For example: A position with a volume of 10 contracts (options) = value of 1,000 stocks.
  • Is there leveraging in options trading? +

    Leveraging in options trading is the same as in stocks trading. 1:2 for overnight trading 1:4 for daily trading
  • Where can I see the transactions I have performed in options trading? Is it possible to see a history of the transactions I have performed in the report system and can operations performed on stocks be separated from those performed on options? +

    The report system provides a full specification of the trading operations in stocks and options. In the Search menu, you can search for an operation (position) by a specific stock name. (Example picture) Shopping Cart Software. click here to report system
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