What is MyWallSt?
MyWallSt is a maker of financial investment tools designed to transform anyone into an informed, confident investor.
Is MyWallSt Regulated?
No, MyWallSt is not regulated. MyWallSt is a technology platform providing you with general information on stocks and provides a technology link so that you can access your investment account to trade via your smartphone.
MyWallSt does not provide advice to you and does not provide any advisory services
MyWallSt does not take orders from you to buy or sell stocks and does not place orders with brokers.
What makes MyWallSt different?
MyWallSt helps people shape their financial future by making it simple to start investing. We give straight forward instructions on how to buy shares and clear choices on what stocks to buy throughout your investing life. This information will help you to make your own investment decisions to invest in the stock markets.
The information that MyWallSt provides about the financial markets and stock in general and is not based on your personal circumstances. MyWallSt does not advise you on what shares to buy.
MyWallSt also provides a technology link so that you can access your advisory account via your smartphone. MyWallSt Ltd. does not take your orders to buy or sell stock and does not place your orders with brokers. MyWallSt has no discretion over what you decide to buy or sell.
What do I need to get started?
The mobile apps that MyWallSt have created are available on iOS for iPhone and iPad, and across all Android devices.
Our content is also available via our web application and can be accessed here.
Who can use MyWallSt?
Anyone with an iOS/Android device or web browser can access our content.
There may be restrictions on whether you can open an investment account or access your investment account via your smartphone. Any restrictions will be set out in the terms and conditions with your broker/advisor. It is your responsibility to read and understand your terms and conditions with your broker and/or advisor.
Please consult your broker and/or advisor if you have any questions.
Will users be able to access their financial accounts on their computers as well as phones?
MyWallSt is a mobile-first company. Users can access our information content on the web app, but portfolio access is only available via our mobile apps.
There may be restrictions on whether you can open an investment account or access your investment account via your smartphone. Any restrictions will be set out in the terms and conditions with your broker/advisor.
What versions of iOS do your apps support?
We support iOS versions 14.0 +
What versions of Android do your apps support?
We support Android versions 5.0 +
Taxes and Fees
Will I be charged to install the MyWallSt app?
No, our apps are free to install.
Are there any subscription fees involved with MyWallSt?
MyWallSt is a subscription based product. Access to our stock market analysis content is based on subscription status.
Pricing is displayed prior to purchase.
Please contact firstname.lastname@example.org for further information.
Is there a free trial?
Yes, MyWallSt provides 7 days of trial access.
Subscriptions will automatically renew unless cancelled 24-hours before the end of your trial/subscription period.
Can I access my investment account if I cancel my subscription?
Yes, you will retain access to your portfolio regardless of your MyWallSt subscription status. We would never force users to subscribe.
Unsubscribing will result in you losing access to all of our stock market analysis content.
What information do I need to open a MyWallSt account?
In order to open a MyWallSt account you simply need to provide your email address and create a password for log in.
MyWallSt is not a party to any account relationship you have with your broker. You should contact your broker if you have questions on this.
Does MyWallSt have access to my brokerage account?
We do not have direct access to your brokerage account. You issue instructions to your broker for the buying and selling of stocks through our apps.
MyWallSt provides the technology link so you can access your investment account via your smartphone.
MyWallSt does not take orders on your behalf and place them with your broker. MyWallSt has no control or discretion over any of your trading activities through our apps.
Does MyWallSt have access to my bank account?
No. We don’t have any access to your bank account.
Buying and Selling Stocks
Can I buy and sell stocks using MyWallSt?
Yes, you can buy and sell stocks via your smartphone using the MyWallSt app. The MyWallSt app provides a technology link to your investment account so that you can buy and sell stock from your smartphone.
What if I don’t have a brokerage account?
If you don’t have a brokerage account, the MyWallSt app gives you the option to open an advisory account with MyWallSt Advisory which provides a link to a brokerage platform.
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 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.
What is the transaction fee going to be?
There are no transaction fees to use the MyWallSt app because the MyWallSt app only provides a link from your smartphone to your investment account and does not take any orders on your behalf.
Transaction fees apply for other brokers and will vary depending on who you use. These fees will be set out in the terms and conditions of your investment account agreement.
If you have any questions about transaction fees you should contact your broker or investment advisor.
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.
When will I be charged transaction fees?
MyWallSt does not charge any transaction fees as it is not involved in the purchase/sale of your stock. Your investment account may include transaction fees as set out in the terms and conditions of your investment agreement(s).
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.
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.
Please consult your broker and/or advisor if you have any questions on investment account related fees.
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.
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).