Personal checks take approximately eight business days to clear, not including the date of deposit. Additionally, you will need to fund your account to meet margin calls for open positions. Simply complete the transfer form on the last page of your Booklet 2 account form to transfer your equity and any open positions from your current broker to Refco. Refco will not charge you any commissions on positions you transfer to Refco. Rates are influenced by a number of factors, including the frequency of trading and markets traded.
All customers receive daily statements when activity occurs.
These statements detail trade confirmations, purchase and sales, and open positions. The statement also provides the account balance, open trade equity and total equity. Customers also receive monthly statements as well as 1099s for tax purposes. Customers, who have signed the Online Services Agreement form, can also view account information in the trading area. If there is a question about trading with Refco that wasn't answered above, chances are someone else would also like to know.