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Why do I make a check out to Penson Financial Services when Im opening an account with thinkorswim?

April 26, 2017account Financial Services opening penson thinkorswim

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Why do I make a check out to Penson Financial Services when Im opening an account with thinkorswim?

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Penson Financial Services is the clearing firm used by thinkorswim, where all customer funds are held under a fully disclosed clearing agreement. It is very important for you to put your username and account number on your check to insure proper posting of funds.