No edit summary |
|||
| Line 4: | Line 4: | ||
===Selecting a Broker=== |
===Selecting a Broker=== |
||
| + | Before you can trade stocks you must select a brokerage. All trades are made through your broker who acts as a proxy. A player may only belong to one brokerage firm at a time. |
||
| + | |||
| + | Each brokerage house offers different services. The two primary brokerages in the game are DAX Public Holdings and Dragon Trading. These are NPC run brokerages. Players may also start up brokerage houses on their own. When selecting a brokerage, players may assume more risk when joining player managed brokerages. So one of the main features a player may consider is the amount of insurance the brokerage offers on their account. DAX and Dragon offer 100% insurance on all accounts and as a result, charges higher prices for many services. |
||
| + | |||
| + | DAX is a brokerage that only offers standard stock trading. Players must have the full amount of the purchase in their account to make a purchase and after selling, the funds are not released back into the player account until the next trading session begins. A minimum deposit of $100,000 is required to open an account. Stock trades are $25 plus a 2% commission. |
||
| + | |||
| + | Dragon Trading offers more options. The minimum amount to open an account is $2,000,000. $500,000 is automatically placed into a low risk money market fund. Players pay $25 per stock trade but do not pay a commission. Dragon also offers margin trading. Margin trades up to 50% of the purchase price are accepted with a 4.5% commission when the stock is sold, no commission is charged on the purchase. Players are required to maintain a minimum account value of $500,000. Players that fall below this level must deposit more cash into their account within eight trading sessions (32 real life hours). Accounts that fail to maintain the minimum account value are liquidated and Dragon keeps 50% of the account value as a penalty. For example, if a player has a balance of $100,000 and fails to add money to the account, Dragon will sell all stocks and the player will receive $50,000, deposited into their bank account. Players that do not have an active bank account must pay Dragon a 15% cash withdrawal fee. In this case, the player will get back $42,500 after paying the $7,500 fee. |
||
| + | |||
| + | Player run brokerages can offer significant savings. Dax and Dragon are fully insured in the game and offer the lowest risk but charge hefty fees for all transactions. |
||
===Making a Deposit=== |
===Making a Deposit=== |
||
Revision as of 15:50, 7 March 2015
Welcome to the Stock Market
When entering the market you are presented the following screen. As the instructions indicate, press the enter key to continue.
Selecting a Broker
Before you can trade stocks you must select a brokerage. All trades are made through your broker who acts as a proxy. A player may only belong to one brokerage firm at a time.
Each brokerage house offers different services. The two primary brokerages in the game are DAX Public Holdings and Dragon Trading. These are NPC run brokerages. Players may also start up brokerage houses on their own. When selecting a brokerage, players may assume more risk when joining player managed brokerages. So one of the main features a player may consider is the amount of insurance the brokerage offers on their account. DAX and Dragon offer 100% insurance on all accounts and as a result, charges higher prices for many services.
DAX is a brokerage that only offers standard stock trading. Players must have the full amount of the purchase in their account to make a purchase and after selling, the funds are not released back into the player account until the next trading session begins. A minimum deposit of $100,000 is required to open an account. Stock trades are $25 plus a 2% commission.
Dragon Trading offers more options. The minimum amount to open an account is $2,000,000. $500,000 is automatically placed into a low risk money market fund. Players pay $25 per stock trade but do not pay a commission. Dragon also offers margin trading. Margin trades up to 50% of the purchase price are accepted with a 4.5% commission when the stock is sold, no commission is charged on the purchase. Players are required to maintain a minimum account value of $500,000. Players that fall below this level must deposit more cash into their account within eight trading sessions (32 real life hours). Accounts that fail to maintain the minimum account value are liquidated and Dragon keeps 50% of the account value as a penalty. For example, if a player has a balance of $100,000 and fails to add money to the account, Dragon will sell all stocks and the player will receive $50,000, deposited into their bank account. Players that do not have an active bank account must pay Dragon a 15% cash withdrawal fee. In this case, the player will get back $42,500 after paying the $7,500 fee.
Player run brokerages can offer significant savings. Dax and Dragon are fully insured in the game and offer the lowest risk but charge hefty fees for all transactions.