Online Brokerage Frequently Asked Questions
- If I have questions about online trading or my account, who can help me?
- How do I open a brokerage account?
- How much money does it take to open an account?
- What type of securities may I trade online?
- Where will I find a list of mutual funds available for trading?
- How will I be notified of trade executions?
- When does my cash balance update to reflect my account activity?
- Are Money Market Funds available to hold my uninvested or "free" cash?
- What types of orders may I place online? Are there extra fees for limit orders?
- How do I transfer securities and cash balances to my account?
- What fees are associated with Online Brokerage services?
- If Online Brokerage is unavailable due to a system problem, can I call in to place the trade with a City National Securities representative and be charged the Online Brokerage commission rate?
- What is the difference between a cash account and a margin account? How does a margin account work?
- May I "Day-Trade" in my account?
- How do I access my account for the first time?
- Are e-mail transmissions secured?
- What if I forget my User Name or password?
- What type of Internet protection does the service have?
- I didn't see a security message or lock icon; is the site secure?
- Who do I contact for technical support assistance?
Complete and sign the forms and mail them back to us at:
City National Securities
400 North Roxbury Drive
Beverly Hills, CA 90210
For Individually Directed Accounts (IDAs) through City National Retirement Services, please mail the completed and signed new account application for IDAs to:
City National Securities
225 Broadway, Suite 500
San Diego, CA 92101
Once your City National Securities brokerage account is open, you will receive information on how to logon and place trades online.
Q. How much money does it take to open an account?
A. No initial deposit is required to open a cash account with City National Securities; however, to place a trade, sufficient cash or securities are required.
For options trading online, you must have an approved Option Agreement on file. Please call an investment representative at (800) 280-1464 to obtain the necessary forms.
For Individually Directed Accounts (IDAs) through City National Retirement Services, you will need approval from your Plan Sponsor in order to trade options.
For fixed-income orders and unit investment trusts, please speak directly with an investment representative at (800) 280-1464.
Q. Where will I find a list of mutual funds available for trading?
A. Within Online Brokerage, at the bottom of each page within the Account Info and Account Services areas, you can click on "Mutual Fund Lists." There will be links to two spreadsheets. Click on either the No Transaction Fee Funds or Transaction Fee Funds to access the universe of mutual funds available.
From the cnb.com, choose Your Accounts and select Online Brokerage. Under the “Resources” section, there will be links to two files. Click on either the No Transaction Fee Funds or Transaction Fee Funds to access the universe of mutual funds available.
Q. How will I be notified of trade executions?
A. You can verify all open orders and trade executions in your brokerage account online under Order Status. The Transaction History section for your account will immediately update after any trade execution. You can also elect to receive written confirmations or email notifications of all trade executions.
Q. When does my cash balance update to reflect my account activity?
A. Cash available to purchase securities is updated online immediately under the Balances section. For questions regarding margin availability, please contact an Investment Representative at (800) 280-1464.
Q. Are Money Market Funds available to hold my uninvested or "free" cash?
A. On the account application, you will be given a choice of using your City National Bank checking or savings account or one of four money market funds to hold any uninvested cash. The options are located in the section labeled, "Investment Account Cash Balance Options." Select "Automatic Investment to City National Rochdale® Funds" to have City National Securities invest any cash balance in a money market fund, and to pay for securities purchased by debiting the fund on settlement date. Before investing in any money market fund, you should read the prospectus carefully. You may obtain a prospectus by calling (800) 280-1464 or visiting cnicharterfunds.com or federatedinvestors.com.
For Individually Directed Accounts (IDAs) through City National Retirement Services: Your Plan Sponsor selects the default money market vehicle.
Q. What types of orders may I place online? Are there extra fees for limit orders?
A. City National Securities accepts market, limit, stop, and stop limit orders for most stocks and options for the day or Good-till-cancelled (120 days) trades.
There is no extra fee for limit orders, stop orders, or stop limit orders.
Q. How do I transfer securities and cash balances to my account?
A. Please speak to a customer service representative at (800) 280-1464 to request a form to transfer securities or funds from another brokerage (this is referred to as an "ACAT transfer"). The form must be completed, signed and sent back to City National Securities for processing. Transfers take approximately two (2) weeks to complete from the time we receive your paperwork.
For Individually Directed Accounts (IDAs) through City National Retirement Services: Any questions you may have concerning the movement of cash balances to your IDA account can be answered by contacting City National Retirement Services at (800) 660-6282.
Q. What fees are associated with Online Brokerage services?
A. There are no monthly or annual service charges or fees to access your brokerage account online. There are commissions or transaction fees assessed when you execute a trade online. For complete details on commissions and fees, please contact an Investment Representative at (800) 280-1464.
Q. If Online Brokerage is unavailable due to a system problem, can I call in to place the trade with a City National Securities representative and be charged the Online Brokerage commission rate?
A. If the City National Securities Online Brokerage website is not available, you may call (800) 280-1464 and place your trade with a City National Securities representative and only be charged the online brokerage commission rate.
At any time, you may choose to contact a City National Securities representative to place your trade; however, broker-assisted rates will apply.
Q. What is the difference between a cash account and a margin account? How does a margin account work?
A. With a cash account, you must have adequate funds in your account prior to placing an order to purchase securities. A margin account allows you to purchase stocks by borrowing against the securities you already hold. Margin is the amount you borrow (and must repay) when you use the credit to purchase a stock.
Margin accounts are extended by National Financial Services LLC ("NFS") and require approval from NFS. An approved Margin Agreement must be on file prior to trading on margin. Call a Service Representative at (800) 280-1464 to obtain a Margin Agreement.
For Individually Directed Accounts (IDAs) through City National Retirement Services: Margin Accounts, or the borrowing of money to buy securities, is strictly prohibited.
Q. May I "Day-Trade" in my account?
A. City National Securities does not allow the intentional buying and selling of a stock or options during the same business day (Day-Trading). Accounts will be monitored and restricted if there is Day-Trading activity.
Technical Questions & Answers
Q. How do I access my account for the first time?
A. You will receive a User Name and an Activation Code by email. To ensure your security, your temporary password will be mailed to you. Visit our Web site at cnb.com, choose “Online Brokerage” under the “Your Accounts” dropdown and click Log On. Enter your User Name and User Password in the boxes provided and click Log On. You will be asked to enter the Activation Code. You will also be asked to answer a series of security questions to help prevent unauthorized access to your account in the future.
Q. What type of Internet protection does the service have?
A. We are committed to provide you safe and secure online services. We are confident that our internal security infrastructure, requiring 128-bit domestic grade encryption, will provide privacy and security to your account and transaction information.
Q. I didn't see a security message or lock icon; is the site secure?
A. Yes, the site is secure. Although you do not see a security disclaimer or a lock icon, please be assured that Online Brokerage is a secure site that uses a high-grade encryption key for U.S. domestic use only. To maintain a rapid speed for the system, no security messages or lock icons are routinely displayed.
For Internet Explorer users, to verify the security:
Right click anywhere within the contents of a page. Select "Properties" to view the security disclaimer.
Q. Who do I contact for technical support assistance?
A. You may contact one of our Technical Support specialists at (877) 707-4262. For all other questions, call your investment officer or customer service at (800) 280-1464.