Questions
About Us
How
are you registered and regulated?
Where are my funds held?
Where
are you located?
What
is your minimum account size?
Once my account is open do I have to maintain
the minimum?
Are there monthly or annual account fees?
Are there percentage of asset fees?
Are there inactive account fees?
Are there additional fees for toll-free phone
backup?
What are your commissions ?
What are your margin rates?
How do I make deposits?
How do I make withdrawals?
Can I authorize someone else to trade
on my behalf?
What statements will I receive?
Can I receive e-mail statements?
How liquid are the futures and options markets?
Which markets can I trade?
What are 'institutional order executions'
and why are they better?
Do you have a 24-hour desk?
Do you offer mini contracts?
What types of orders will you accept?
Do you accept exotic orders such as OCO's and
SCO's?
How can I place orders?
What is the difference between initial
margin and maintenance margin?
What types of accounts will you accept?
How long does it take for an account to be
opened?
Can I transfer an existing account to
you?
How
are you registered and regulated?
APPL
International. (APPL) is registered as an independent introducing
broker and notice broker dealer with the NFA (National Futures
Association) and the CFTC (Commodity Futures Trading Commission).
Since 1988, APPL has provided premier futures and options
brokerage services with a history of reliability and integrity.
Where
are my funds held?
Regulations
governing U.S. futures and option markets require that customer
positions and monies be separately accounted for and segregated
from the positions and monies of the clearing firm. All
client funds are held in segregated accounts in your name
at the clearing firm in which your account is open.
Where
are you located?
Our
office is located at 11 Broadway Suite 1000 in New York
City in the heart of the Financial District.
When
I give you information about myself can I ensure my privacy?
Confidentiality
is important to many traders; therefore, we strictly maintain
confidentiality at all times. We will never provide your
e-mail address or any other information to anyone other
than the clearing firm holding your account. We feel that
you should be in control of the information you provide
to us.
Account
Questions
What
is your minimum account size?
Our
minimum account size is $5000 for futures and $2,500 for
long option accounts.
Once
my account is open do I have to maintain the minimum?
No.
Your balance can go below the starting point, as long as
you have enough equity to meet your margin requirements.
Are
there monthly or annual account fees? No.
Are
there percentage of asset fees? No.
Are
there additional fees for limit orders, stop orders or special
orders? No.
Are
there inactive account fees? No.
Are
there additional fees for toll-free phone backup?
No.
What
are your commissions ?
Not
every client has the same needs in regards to brokerage
services. Due to this fact, we customize rates to meet specific
needs. Traders who require full service , time and attention
of a dedicated broker will incur a higher commission rate
than a trader who places his orders directly over the Internet.
Whether it be a fully serviced or internet trading account
our rates are very competitive. Please speak directly to
a broker and he or she will asses your needs and then give
you a competitive commission schedule with monthly volume
reductions.
What
are your margin rates?
For
the majority of accounts, our margin rates are always the
minimum allowable by the Exchanges. It is important for
you to know that some firms do charge greater than 'Exchange
Minimum' (which is allowable under CFTC rules), but no firm
can charge you less than us when we have exchange minimums
for our clients.
How
do I make deposits?
Routine
deposits can be made by personal check or bank wire. To
make a deposit by check, make your check payable to the
FCM at which your account is held, and mail it to APPL International,
Inc., 11 Broadway, Suite 1000, New York, NY 10004. To make
a deposit by bank wire, simply call us at 1-800-274-2775
and we will provide you with the bank wire instructions
How
do I make withdrawals?
Just
call us, e-mail, or fax instructions and we will instruct
the FCM to issue your funds promptly.
Can
I authorize someone else to trade on my behalf?
Yes.You
will need to sign certain 'power of attorney' documents,
which we can provide to you on request
What
statements will I receive?
All
customers receive statements on their accounts when activity
occurs. These statements detail trade confirmations, purchase
and sales, and open positions. The statements provide the
account balance, open trade equity and total equity. Customers
also receive monthly statements as well as 1099's for tax
purposes. Since you have internet access, you can also view
your account information online through our CDC (Customer
Data Center).
Can
I receive e-mail statements? Yes.
Traders
Q&A
How
liquid are the futures and options markets?
Futures
and futures options trading volume has demonstrated a steady
growth pattern over the past two decades. According to the
Futures Industry Association, global trading of futures
and options reached a new record in 1998: 1,930,225,775
contracts. This was up 9% versus 1997, and is up over 400%
since 1988.
Which
markets can I trade?
You
can trade virtually any market listed on a regulated futures
Exchange. The markets we offer include: The traditional
physical commodities - the agricultural markets (grains,
meats, cotton, cocoa, coffee, sugar), the metals (precious,
such as platinum, gold, silver, and industrial, such as
copper and aluminum), as well as energy (crude oil, natural
gas and gasoline). The financial futures-currencies (Japanese
Yen, Euro, British Pound, Swiss Franc, Mexican Peso, etc.),
stock indices (S&P 500, Nasdaq, Dow Jones), and interest
rate futures (Treasury Bonds, Notes, Bonds, Eurodollars,
etc.). We also provide access to overseas futures exchanges
such as the EUREX, LIFFE, SIMEX and several other well known
exchanges worldwide.
What
are 'institutional order executions' and why are they better?
Slippage
is a cost of doing business and can, at times, amount to
many times the cost of the commissions. Slippage can be
minimized. This is accomplished by "hand-picking"
floor brokers. For the sophisticated futures trader, nothing
is more important than top-quality trade executions. Floor
brokers do vary in terms of speed, accuracy and quality
of the price fills to the customer. The term commonly used
in the industry for poor price fills is "slippage".
Slippage is the difference between the price at which a
trader wants to buy and sell, and his ultimate fill price.
Missing a trade (not able to be filled at a limit price)
is another form of slippage. Through our affiliation with
a major institutional clearing firm, we are proud of the
quality of fills our floor brokers provide. We use many
of the same floor brokers used by major institutions such
as large hedge funds and major banks. What this can mean
to our customers is improved bottom line profitability.
Do
you have a 24-hour desk?
Yes.
We offer an operational "night-desk" for our overseas
clients and domestic customers to place orders.
Do
you offer mini contracts?
Yes,
we have direct access to all of the major futures exchanges
for both mini and full-sized futures and options. Margin
requirements for mini contracts are typically one-half to
one-fifth the size of the related large futures contract.
What
types of orders will you accept?
All
types of orders are accepted - limit orders, stops, market
orders, good until canceled, FOKs. Unlike some firms, we
will accept any order the Exchange permits.
Do
you accept exotic orders such as OCO's and SCO's?
Yes,
when the specific exchange allows the exotic order we will
enter it for you.
How
can I place orders?
You
can place orders by phone or by our trading platform on
the Internet
What
is the difference between initial margin and maintenance
margin?
Initial
margin is the 'good faith' deposit required to buy or sell
a futures contract. The maintenance margin is the level
of deposit that must be maintained before a margin call
is generated. The maintenance margin level is approximately
75% of the initial margin.
Opening
an Account
What
types of accounts will you accept?
Individual,
joint, corporate, or partnership. Accounts can be self-directed
or managed by a third party. Joint, corporate, managed and
partnership accounts require additional paperwork.
How
long does it take for an account to be opened?
Most
accounts are approved for trading the same day we receive
your account application forms and good funds are cleared
or wired .
Can
I transfer an existing account to you?
Yes.
Transfer forms are included in the last page of the account
application we provide.
