Broker AccountsBroker AccountsThe Brokers management feature allows you to enter your broker details including commissions to be used in your analysis and transactions.
To open the Brokers management window, click the Broker Accounts command from the Portfolios drop-down menu on the Stock Investor toolbar.
The Brokers window will open:
The brokers window floats above the workspace, it can be resized and repositioned using your mouse.
Each broker has a tabbed page containing all the broker's details and settings for use.
Make changes to the Brokers details and click OK to save the changes.
Click the Add button to add a new broker.
A new tabbed page will be created, enter the Brokerage Name and it will appear on the tab.
There are also text boxes to enter Contact details.
For each broker you can identify which security types they handle, and which exchanges you will use the particular broker to trade on.
When you create a new broker page seven brokerage categories
are available: Extras, Forex, Futures, Indices, Options, Stocks, and Warrants.
To add trading details for the broker in any of these categories, click on the page icon on the left of the table:
For example, you can select a broker to handle Frozen Orange Juice futures by selecting the OJ futures root from the drop-down list:
If you want this broker to handle all futures contracts, click the ALL check box.
For other securities you can use a similar box to select Exchanges which the brokers operate in. Again, an All option is available.
You can enter the formula used by the broker to calculate its commission. This formula will then be applied to trades when you select the broker in the Enter Transaction dialog box.
All brokers have different methods of calculating commissions. It is recommended that you get a copy of your broker's fees and charges before you start to enter them into this table.
To add details, click on the page icon on the left of the table, or click on an value and a text entry box will appear if it is editable:
Note that you can assign specific brokerage formulas or fee structures to particular markets, or you can use the same formula for all markets.
Click on the page icon in the blue row to create a new formula row:
The example is to create a new formula row for a Stock Exchange. Drop down the list to select and exchange, or check the Apply to All box for it to apply to all. If you have already defined specific formulae for some exchanges, then the specific formulae will apply to those specified exchanges and the formula in the All row will apply to all other exchanges.
Some Brokers have a flat fee, or a flat fee plus a commission based on the value or size of the transaction. If a flat fee is involved enter it in the Order Price text box.
Calculation Method
When a commission is calculated, either by itself or in addition to the flat fee, details of it can be recorded here and later applied when Transactions are entered.
There are two methods of calculating the commission. Select one from the drop down list:
The value in the column on the left is either a percentage or a price per contract.
Some formulas, either price or percentage, apply to all trades.
Some formulas have different rates depending on the amount of the trade. When this is the case, click on the page icon in the blue row to create a new exchange row, and then click on the page icon in the new row to make a subsequent row. Then go back to the first row for that exchange and edit the level at which the transition occurs.
You can continue doing this for as many gradations as the broker's formulae has:
In the example, if the broker had a charged .08% for trades above $60,000.01, you could click on the page icon at left, the current Unlimited amount would change to $100,000.00 and a new row would be inserted for $100,000.01 to Unlimited. You would click on the empty % of Order Value space and type 0.08 into the text box.
When a Broker is added, its setting is Active by default. All active Broker's names appear in the drop-down Broker list on the Enter Transaction dialog box.
Check the Default checkbox at the top. Choose which broker you would like to be the default broker appearing in the Broker drop-down list used when entering transactions.
The Broker can be deleted, or the Active checkbox can be un-checked. Inactive Broker's are removed from the drop down box in the transactions dialog box, but their details are retained in the tabbed broker page. They can be reactivated by checking the Active checkbox.
To remove a Broker from the Broker management window, select the Broker's tab and click the Delete button.
Deleting a broker will permanently remove the tabbed page from the Brokers dialog, and all information previously entered about that broker will be removed.
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