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A "wash sale" happens when a trader sells shares at a loss and buys similar ones within a 61-day period (30 days before and after the sale). The loss is added to the cost basis of the replacement shares. When those shares are sold, the disallowed loss is recognized. The holding period of the original shares is combined with the new ones'. For more info, visit our website.
Read MoreMEXEM automatically closes zero-balance accounts to avoid ongoing fees. If an account closure request is made, MEXEM converts Settled Cash balances below USD 1,000 equivalent to base currency. Balances above this require closing trades before account closure.
Read MoreCertain investments, like REITs, UITs, and mutual funds, may have income reclassified by issuers, often causing amended tax statements. This reclassification involves changes in the tax treatment of distributed income, such as depreciation adjustments, capital gains, or dividends. For guidance on receiving an amended Form 1099, consult the MEXEM Knowledge Base.
Read MoreLogin issues to your paper trading account could stem from the account being new (requiring 24 hours to activate), your live account being closed, or an older account lacking an activated paper account. Refer to related FAQs for more assistance.
Read MoreIf you can access Client Portal but not trading platforms, your login credentials aren't the issue. Possible reasons include your account application under review, your account being managed by a financial advisor, or a new user creation requiring 24 hours to activate.
Read MoreYou may need to complete the Non-Professional Questionnaire for each user in Client Portal or meet market data subscription minimum and maintenance equity balance requirements. More information is available in related guides.
Read MoreIf you struggle to close your account despite following the Users' Guide, ensure that you've removed your -F account (if applicable), and have a saved bank wire instruction in your account's base currency. If problems persist, contact Client Services.
Read MoreThe Base Currency in your MEXEM account is essential for translating statement balances, ensuring margin compliance, and managing fees. It's often chosen based on the client's country of residence or where most income and assets are denominated. It minimizes necessary currency conversions.
Read MoreLink all your accounts under one username and password, including Advisor/Broker-managed accounts. Ensure the same email, account titles, tax IDs, and addresses. Upon linking, only the main account's username and password will work. The highest security device among linked accounts becomes active.
Read MoreMEXEM operates through various broker subsidiaries, determined by the account holder's legal residency or entity's formation country. These entities manage relationships for services like clearing and execution. Confirm your MEXEM entity by checking your Activity Statement's top information.
Read MoreIf you are a designated beneficiary, you may obtain the TOD Beneficiary Distribution Form from our homepage. Go to MEXEM.com, scroll to the bottom of the page and click Forms and Disclosures. Click the Customer Service tab, and at the bottom of the list is the TOD form.
Read MoreIf you are in Client Portal/Account Management, click the Portfolio menu option. Your account number will be to the right of the word Portfolio.Please Note: In case you set up an account alias, it will be shown in the place of the account number in the Portfolio page...
Read MoreIf your temporary digital virtual security code card has expired, you will need to contact MEXEM Client Services via phone to receive a temporary passcode and activate a permanent device.Once you receive a temporary passcode, the easiest option would be to activate the MEXEM Mobile app which allows for Two Factor Authentication.
Read MoreIf your account is hacked, contact your local Client Service Center immediately to verify your identity and protect your account. They'll impose restrictions, freeze funds, issue a new password, and review unauthorized activity. You may need to file a police report.
Read MoreYou can confirm your base currency from:Client Portal/Account Management: Go to menu Settings followed by Account Settings. Under Configuration it is stated the Base Currency.Activity Statement: **Under the Account Information section the Base Currency is stated.Trading Platform: **From the Account Window the totals display in the Base Currency.
Read MoreAccount Partitions allow you to allocate cash and positions to be managed by an Advisor or Broker. You can monitor partition performance, positions, account activity, and balances through TWS. Partition activity is reflected in statements. You can still trade the non-partitioned segment. More details and instructions can be found here
Read MoreFor TOD accounts, beneficiaries contact MEXEM Client Services. In other cases, the executor or joint account holder emails estateprocessing@interactivebrokers.com to notify MEXEM. The account is classified as deceased, with activity halted until legal authority is established. Required documents vary based on account type and country. Probated Estates receive distributions in the estate's name.
Read MoreThe "-F" part of an MEXEM Universal account is the IB UK Regulated segment that clears and holds OTC products like physical metals.
Read MoreClients meeting age, financial, and investment criteria can get margin permissions. Accounts with these permissions and equity above $2,000 are eligible for margin on qualifying positions. Margin availability depends on account equity, loan value, and new order margin requirements.
Read MoreEach MEXEM account can have one paper trading account. For an additional one, create a new linked account, fund it (internal transfer possible), create a second username with trading rights, and request a paper trading account via Client Portal/Account Management.
Read MoreShould you wish to change financial advisors, please contact Client Services and ask for the form Authorization to designate a new financial advisor .Documents can be submitted by either replying and attaching the form to the email you received from MEXEM or by attaching the form to an inquiry ticket which can be created in Client Portal or Account Management.
Read MoreNot all eligible shares in the Stock Yield Enhancement Program are guaranteed to be loaned, depending on market conditions and MEXEM's discretion. Clients with financing deficits may have 140% of the deficit un-segregated, making them ineligible for lending. Refer to the FAQ for more information.
Read MoreNon-residents face withholding taxes on U.S. stock dividends. A finalized W8 form can reduce, but not eliminate, tax if a treaty exists with the holder's tax country. Dividends on U.S. ADR shares don't qualify for reduced rates. Consult a tax advisor for refund or tax credit advice.
Read MoreTo update your W-8BEN tax form, log in to Client Portal/Account Management. Go to Settings, Account Settings, and select the user's profile. Click the "i" icon next to the user's name. Update Tax Forms at the bottom, specifically item 7 for residency change. More details in the Client Portal Users' Guide.
Read MoreTo update your address, log in to Client Portal/Account Management. Go to Settings, Account Settings, and select the profile to edit. Update the relevant fields and provide proof of address if changing residential address. More details in our Users' Guide. Follow separate instructions for changing country of legal residence if needed.
Read MoreTo transfer your MEXEM Mobile authentication profile to a new smartphone, follow the step-by-step instructions in the MEXEM Knowledge Base if you still have access to your old phone or a secondary device. If not, contact MEXEM Client Services for assistance.
Read MoreTWS Desktop: Auto-Synchronized Watchlist Library syncs watchlists across all platforms. Access on MEXEM Mobile for Android by tapping three-dot icon and selecting Browse Lists. On MEXEM Mobile for iOS, tap the icon and choose Browse Lists. TWS Desktop: To import a watchlist, go to Configuration > Watchlist Import > Select device and watchlists. To synchronize, follow the same steps and choose the device. Tap Overwrite to replace or Append to add data. Note: Save watchlists to the cloud in TWS Desktop and MEXEM Mobile for synchronization.
Read MoreTo access live market data, subscribe to market data through Client Portal/Account Management. Login to Client Portal/Account Management, go to Settings > User Settings. Under Trading Platforms, click the gear icon next to Market Data Subscriptions. Review and select the desired market data services. Live market data will be activated instantly for funded accounts or after fund clearance for new accounts. If you don't subscribe to real-time data, you will still receive free postponed data and can trade. For more details, refer to the Users' Guide on subscribing to market data.
Read MoreTo update your trading permissions use the button above: Log in to Client Portal/ Account Management Click the Settings menu followed by Account Settings If you manage numerous account, choose an account by clicking on the account number to popup the Account Selector Click the Configure icon (gear) next to "Trading Experience & Permissions" From the Trading Permissions screen, click ....
Read MoreAfter closing an account, account holders can still access Client Portal/Account Management using the same login credentials to view or print historical activity and tax statements. Tax statements for the past 5 calendar years are available online, and MEXEM retains statements for a total of 7 years as required. If a statement is no longer available online, account holders can request a copy by contacting their local Client Services Center, subject to a processing fee. For password assistance, contact the Client Service Center for identity verification.
Read MoreYou can link your checking account to your MEXEM account for the purpose of transferring USD denominated funds between the two accounts via ACH. This process requires that you first create a banking instruction and verify your bank account. The steps for creating an ACH instruction are provided on KB567. Deposits made via ACH are subject to a 4-business day hold before being credited to your account and, if withdrawn, can only be withdrawn to the originating bank for the 44-business day period thereafter.
Read MoreTo download your Activity Statement for Quicken, navigate to Reports > Statements in Client Portal. Choose Third-Party Downloads as statement type and Quicken as format. The file will download as ".qfx" for importing into Quicken. For more details, see our Users' Guide.
Read MoreIn Client Portal/Account Management, go to Reports > Statements, select Third-Party Downloads as Statement Type, set the Period and Date, choose the 3rd party software under Format, then click Run Statement. More information is in our Users' Guide.
Read MoreIn Client Portal/Account Management, navigate to Reports then Flex Queries to create, modify, or delete a Flex Query. Click the Create "+" icon for an Activity or Trade Confirmation Flex Query. Use the Edit (pencil) or Delete "X" icons to modify or remove an existing Flex Query respectively. More details are available in the Client Portal Users' Guide.
Read MoreTo convert an individual account to a joint account, or vice versa, at MEXEM, create a new account, request a transfer of assets, and then close the old account. More guidance can be found in the MEXEM Knowledge Base.
Read MoreTo switch from an individual to a trust or LLC account with MEXEM, you need to open a new trust or LLC account, then request a transfer of assets. Once the transfer is completed, the individual account will be closed. More details are available in our Knowledge Base.
Read MoreYou can download account data, including trades, into Excel via API Dynamic Data Exchange (DDE). DDE tutorial is in the API Users' Guides. Please note, this feature is for Windows OS only, not Mac OS. For more details, see the webinar "TWS Excel APIs, featuring the RealTimeData Server".
Read MoreThe default tax basis arrangement for all accounts is First In, First Out (FIFO), but it can be changed on a per day and per symbol basis. To change the default matching method for your account, login to the Client Portal version of the Tax Optimizer...
Read MoreConfigure trade alerts in TWS and MEXEM Mobile to receive email notifications. For more information, refer to the Users' Guide for each platform: TWS, MEXEM Mobile for Android, and MEXEM Mobile for iPhone. Please note that email alerts are available for real accounts only, not for simulated demo accounts.
Read MoreIf you've forgotten your password, use the 'Change Password' button to reset it. If you remember your password but want to change it, log into Client Portal/Account Management, navigate to User Settings and change it there. If you can't reset your password, call Client Services for identity confirmation. For security, MEXEM doesn't reset passwords via email or chat.
Read MoreTo update your passport number, email MEXEM Client Services with your Account ID (in the subject line), a summary of the information to update, and a scan of the new ID document. They will assist you with the process.
Read MoreTo change your email address: Log into Client Portal, select Settings > User Settings. Click the Configure icon next to Email Address and follow the instructions. Note, adding a second email requires a semicolon (";") between emails. Changes might need verification and could take 1-2 days to apply.
Read MoreTo unsubscribe from MEXEM's marketing materials, use the following links: Unsubscribe from Mailing Material and Unsubscribe from Electronic Material. For IB UK/UKL accounts, you can adjust communication preferences via Client Portal/Account Management by going to Settings -> User Settings -> Communication. This lets you control how we contact you about offers and products.
Read MoreAccount holders maintaining a long security position (e.g. stock or bond) that is worthless but has not yet been cancelled by the depository may submit a request to have that security removed from their account via a process referred to as Dollar for Lot...
Read MoreTo downgrade to Non-Professional, log into Client Gateway/Account Management and navigate to Settings, User Settings. In Trading Platform, select Configure next to Market Data Subscriptions. Request downgrade in the Market Data Subscriber Status section or modify your Non-Professional Questionnaire, subject to MEXEM Compliance approval.
Read MoreSMS two-factor authentication is temporary and can't be altered. It's replaced upon activation of a permanent security device. For guidance, refer to "How do I request a security device?"
Read MoreYour account type can be found in the Account Information section of your activity statements. Log in to Client Portal/Account Management, select Reports, then Statements. Adjust parameters if needed and click Run Statement. For more details, see our Reporting Users' Guide. For account upgrades, see: How do I upgrade my account?
Read MoreClients own all securities in their account, but they're held in 'Street Name' - registered under MEXEM by the issuer. MEXEM keeps a 'Book-Entry' record confirming your ownership.
Read MoreAdding another person to your individual MEXEM account varies by their intended role: Owner - to change ownership (e.g., to a joint account), initiate a new joint account application and transfer assets. Beneficiary - certain accounts (e.g., U.S. individual, IRA) allow adding a beneficiary. User - you can add a non-employee as a user with specific access rights, without changing ownership. Trusted Contact - an individual MEXEM can contact about your account without giving them account access or transaction rights.
Read MoreCash accounts can't trade Forex on leverage but can convert currencies. As Forex involves buying one currency and selling another, the sale may result in a short position unless it closes or converts an existing long one. Thus, Forex orders leading to a short balance in any currency won't be accepted in a cash account.
Read MoreNo, the primary username is created at the point of account application and is correlated with the account permissions, trading capabilities, and login access in addition to disclosures, agreements and acknowledgements.It is not possible to edit an already existing username or create a secondary user a primary user, or vice versa.
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