Frec allows you to trade most stocks and ETFs that are on major U.S. stock exchanges and many money market and mutual funds. There are no commission fees to trade. However, there are transaction fees associated with most Mutual fund trades within your self-managed portfolio. See Frec’s Fee Schedule for more details.
How to know if we support a specific stocks or ETFs:
If you’re unsure whether a stock or ETF (“securities”) can be traded on our platform, you can enter the name of the stock or ETF in our trade screen. If you’re able to buy it, then you’ll be able to trade it on our platform.
If you initiate a partial transfer of your securities,we will show you which securities can be transferred and provide a warning that some are not supported on our platform. This is not available to you if you elect to transfer all of your assets.
How to know if we support a specific Money Market Mutual Fund or other Mutual Fund:
Frec supports hundreds of different money market mutual fund and mutual funds. To find out if we support the specific fund you’re invested in, please reach out to email@example.com.
You will be able to transfer options contracts into Frec, but if they’re uncovered you may have margin requirements that you will need to meet in your Frec account or with the assets transferred. If the margin requirements are not met, we may reject your account transfer. Please note Frec’s margin requirements may differ from your external broker and transferring may put you at a higher risk of a margin call. Learn more about margin calls.
Also, you will be unable to trade out of any open options positions. You will be required to hold the position until expiration or assignment. You can also transfer these contracts out of Frec to trade.
These positions can’t be viewed on Frec’s holdings screen, they can only be viewed in monthly statements.
Over-The-Counter (OTC) & Penny Stocks (priced less than $5):
You can transfer OTC and penny stocks into Frec, however if your security is trading OTC or on a major US exchange and priced at less than $1 you will not be able to sell these securities via Frec’s platform. You will only be able to sell these assets by providing written instructions to Frec’s support team at firstname.lastname@example.org. However, you will not be able to buy any additional shares via Frec’s platform unless the security begins trading on a major U.S. exchange at higher than $1.
Fixed income & mortgage-backed securities:
Frec does not support the buying or selling of fixed income and mortgage backed securities. If you transfer these assets into your Frec account you will not be able to trade them, you will only be able to hold them in your account until they mature or you transfer them to a different firm that does allow you to trade them. You will also not be able to view these assets in your holdings screen, you will only be able to see them in your monthly statements.