Excessive Trading Policy

Excessive Trading Policy

You are in violation of the excessive trade policy if you reach:

• 6 trade events within one calendar quarter
• 11 trade events within two consecutive quarters within a calendar year, or
• 20 trade events during a calendar year

Following the first violation of the policy, you will receive a warning letter. If two violations occur, your account will be restricted and you will not be able to perform any more trades online. (A single trade can cause multiple violations of the policy and move your account into a restricted status immediately.)