MyWallSt Advisory - FAQ
What is MyWallSt Advisory?
MyWallSt Advisory, LLC is a digital financial services company offering advisory services. The Firm is a Delaware limited liability company formed in November 2020, wholly-owned by MyWallSt Ltd.
How do I access my MyWallSt Advisory account?
You can access your MyWallSt Advisory account via our web-app.
There may be restrictions on whether you can open an investment account. Any restrictions will be set out in the terms and conditions with your broker/advisor.
What if I don't have a brokerage account?
You can open an account with MyWallSt Advisory here.
Before opening an account with MyWallSt Advisory you will receive terms and conditions that will govern your advisory account arrangement. You must make your own decision on whether you want to open an advisory account with
MyWallSt Advisory.
MyWallSt Ltd. does not recommend or provide any advice on the merits of opening an account with MyWallSt Advisory. MyWallSt owns MyWallSt Advisory and will benefit from account fees, but will not be a party to any
arrangement you enter into with MyWallSt Advisory.
Buying and Selling Stocks
How much or how little can I invest using MyWallSt?
You can invest as much as you like up to limits set by your investment account terms and conditions.
Can I sell my stocks at any time?
Yes. Stocks can be sold at any time as long as the stock exchange is open and subject to the terms and conditions you have with your broker.
How many stocks can I invest in using MyWallSt?
MyWallSt does not limit the number of stocks you can invest in. The amount of stock you can invest in depends on your investment account.
How do I withdraw money from my account?
All investment accounts have different fund withdrawal processes so it's best to consult with your broker or investment advisor.
Broker and Security
Who is DriveWealth?
DriveWealth LLC is a FINRA and SEC regulated broker/dealer and custodian for MyWallSt Advisory LLC.
How secure is my investment account?
With protected customer accounts and encrypted personal data, DriveWealth prides itself on the security they provide to you. They are FINRA and SIPC members.
Please consult DriveWealth and/or MyWallSt Advisory if you have any questions.
What is FINRA?
FINRA is dedicated to investor protection and market integrity through effective and efficient regulation of the securities industry. FINRA is not part of the government. They are an independent, not-for-profit organization
authorized by Congress to protect America's investors by making sure the securities industry operates fairly and honestly.
For more information visit: https://www.finra.org
What is SIPC?
SIPC is a federally mandated, non-profit, United States corporation created under the Securities Investor Protection Act of 1970 that mandates membership of most US-registered broker-dealers. It protects securities customers
of its members up to $500,000 (including $250,000 for claims for cash).
For more information visit: https://www.sipc.org/
What currency is my account in?
Your brokerage account is based in US dollars.
Fees and Commissions
Are there advisory fees?
Advisory fees will not exceed .25%. At our sole discretion, the fee may be waived from time to time and/or discounted due to special promotions or based on individual client circumstances. All program fees are memorialized
electronically, including at Account opening and as agreed to in your MyWallSt Advisory Agreement.
Are there commission charges?
DriveWealth charges a $0.01 per share commission. This commission rate is subject to change at DriveWealth's discretion and can be changed at any time. To see DriveWealth's current fee schedule, please visit
this webpage.
Do I have to pay taxes on money I make through my brokerage account?
All transactions that you make via your smartphone are subject to the same taxes that apply to buying stocks through any broker. Please consult with your broker or investment advisor for further information.
Are there withdrawal fees?
Withdrawal fees are subject to the policies your broker has in place. Please consult with your broker or investment advisor for further information.
Other FAQ's
What are the trading hours and US market holidays?
Trading hours are the normal NYSE market hours - 9:30 AM to 4:00 PM Eastern Time Mondays through Friday (14:30 -21:00 UTC/GMT).
For more information regarding US market holidays, please visit the NYSE market holiday calendar.
What is a W-8BEN form?
A W-8BEN is a tax form, which is used to certify that you are not a United States citizen or resident alien. (Non-United States citizens/residents are exempt from United States tax on capital gains and interest, but are
subject to United States withholding tax on dividends based on their country of origin).
