Tell me more about the features of my online account and the types of research I can access.
Provided your online brokerage account has been approved and enabled for trading, you will have access to a number of features and research within PNC Online Banking, including those listed below.
- Invest online in approved mutual funds, listed stocks and exchange traded funds (ETFs). See "What types of products can I trade online?" below.
- Access account details such as balance and holding information, positions, trade history and pending orders (balances are as of the prior business day's closing)
- Obtain quotes on stocks, mutual funds and ETFs
- Access tax lot portfolio summary of unrealized gains and losses
- View projected cash flow summary for future dated dividends, interest and maturities on a monthly and annual basis
- Track securities of interest via My Watch List
- Download investment activity to Quicken (sold separately)
- Stay current on breaking financial news headlines
- View interactive charts, presentations, quotes, company profiles and more
What are the online trading capabilities of the Brokerage Plus account?
You must have sufficient funds or margin added to your account in order to trade online. During regular market hours (9:30 a.m. to 4 p.m. ET), the following order types are available: market, limit, stop loss and stop limit. Orders submitted during market hours will be processed for the same day. Generally, extended hours trading is not available; however, limit orders submitted after market hours will be processed for the following business day.
What if I want to exclude online trading on my account? What number should I call?
To make this request, please call PNC Investment Services Group at 1-800-622-7086.
What are the differences between the available online order types?
A market order is an order to buy or sell a security during market hours at the best available current price. A price cannot be specified for this type of order. We are obligated to execute a market order fully and promptly, without regard to price and the price at which a market order executes may be significantly different than the quoted price at the time the order is placed. This order type guarantees execution, but does not guarantee execution price.
A limit order is an order to buy or sell a security at a specified price, the "limit price," or better. If there is too much movement in the market, or the stock never reaches the specified limit price, the trade will not be executed. A limit order is not a guarantee that your trade will be executed at your limit price, it does, however, eliminate the risk that your order will be filled at a price worse than your limit price.
A stop order, also referred to as a "stop-loss order," is an order to buy or sell a stock once the price of the stock reaches or passes through a specified price, called the "stop price." When the stop price is reached, a stop order becomes a market order. A buy stop order is entered at a stop price above the current market price, and generally is used to limit a loss or to protect a profit on a stock that an investor has sold short. A sell stop order is entered at a stop price below the current market price, and generally is used to limit a loss or to protect a profit on a stock that an investor owns. Stop orders in volatile markets will not guarantee an execution at or near the stop price.
A stop limit order is an order to buy or sell a stock that combines the features of a stop order and a limit order. Once the stop price is reached, a stop limit order becomes a limit order that will be executed at a specified price (or better). The benefit of a stop limit order is that the investor can control the price at which the order can be executed. The disadvantage is that your order may not be filled in certain fast market conditions.
Once I enter an order, how is it processed?
Orders are routed through PNC Investments' clearing firm, National Financial Services LLC, which routes orders to various exchanges or market centers for execution. You will receive the price at which your order executes in the marketplace. This may be different from the price at which the security is trading when your order is entered. Certain order types, such as limit orders, can minimize the risk of receiving a less favorable execution price. See "What are the differences between the available online order types?" above. For additional information about how trades are processed, please refer to Important Information About Order Routing and Execution. Please note that certain orders may be subject to review and approval prior to execution, which may delay order execution.
How do I review the status of my order?
Within your investment account in PNC Online Banking, select Order Status for details on the status of your order. Open or executed orders can be viewed in Order Status.
Will I receive confirmation if/when an order has been executed?
Yes. You will receive trade confirmations in the mail for all orders executed through online services unless you have agreed to receive confirmations electronically through email notification. The trade confirmation will detail each executed transaction. This is the official record of the transaction. An account statement will also be mailed to your address of record quarterly (at a minimum) or monthly, if there is trading or cash management activity in the account. Your account statements will show all activity in your account for the stated period, including securities transactions, cash and margin balances, credits and debits to your account, and all fees paid directly from your account. If you'd like to receive statements electronically, you can make this election in Online Banking. Simply navigate to the Customer Service tab, and click on Activate Online Statements.
What are my obligations once an order/trade has been placed?
As a client, you agree to monitor the status of your order until execution is confirmed. Any pending or rejected orders can be viewed by selecting Order Status within your investment account in PNC Online Banking, and may require your follow-up with the PNC Investment Services Group at 1-800-622-7086. You should also carefully review your trade confirmations and account statements, and promptly inform us of any inaccuracies.
What if I need to cancel an order?
You can modify or cancel pending orders (orders not yet executed) by selecting Order Status within your investment account in PNC Online Banking.
Are there orders that cannot be modified or canceled?
Orders that have already been executed cannot be modified or canceled. See "Are order cancellations impacted by "fast markets"?" below.
Are there any risks involved in online trading?
There is always risk of loss when investing in securities, regardless of whether you trade online. Certain additional risks are specific to online trading. These include the following:
- Online services may be delayed or unavailable during periods of high demand, market volatility, systems upgrades or maintenance, or for other unforeseen reasons. During these periods, quotes, orders and account information may be delayed or inaccurate. The price at which your order is executed may be different from the displayed quote at the time the order was entered due to unforeseen circumstances.
- The market data provided with our online services are obtained from sources we believe to be reliable, but we cannot guarantee their accuracy, completeness, timeliness or correct sequencing.
- Like any online account, your online trading account could be subject to unauthorized access. You must protect the confidentiality of your online access password. You must also monitor your account to ensure that all activity in the account was authorized by you and inform us if you see any unauthorized activity. For more information on steps you can take to ensure the security of your account, see the FINRA Investor Alert "Protect Your Online Brokerage Account: Safety Should Come First When Logging In and Out."
- Certain investors trading online may also be tempted to "overtrade" by trading more frequently than they would ordinarily or without fully considering their investment goals and risk tolerance. Overtrading can lead to decreased performance and increased costs.
The following publications contain additional helpful information to consider when trading online:
Periods of high market volatility are referred to as "fast markets." A fast market is a trading session where the markets experience high levels of price and trading volatility. Extreme price fluctuations, backlogs and order imbalances can result, causing significant variances in price. The ability to execute orders in fast market conditions may be limited, and order execution may be delayed.
What can cause a "fast market"?
Events that can trigger a fast market include, but are not limited to:
- Highly anticipated initial public offerings (IPOs);
- Important company news;
- A favorable or unfavorable analyst recommendation; and/or
- National or world financial news or events.
Are order cancellations impacted by "fast markets"?
Yes, order cancellations are affected by fast market conditions. Under fast market conditions, it may not be possible to cancel limit orders. If you cancel an order, be sure that the cancellation actually occurs before entering a replacement trade. If you replace your order prior to receiving confirmation of the cancellation, you may duplicate your order and execution. Any duplicate orders entered are your responsibility.
Day trading is a strategy that generally involves placing orders to both sell and buy the same security on the same day. See SEC information on day trading.
What are the risks of day trading?
By providing you with the ability to enter orders to buy and sell securities online, PNC Investments does not recommend or endorse day trading. Day trading is extremely risky and is generally not appropriate for someone of limited resources and limited investment or trading experience and low risk tolerance. If you engage in day trading, you should be prepared to lose all of the funds that you invest.