Frequently Asked Questions About Rally

With the aim of bringing a breath of fresh air to the digital investment world, Rally offers its users fast, reliable and accessible investment platforms equipped with the latest technologies. Thanks to the strategic partnership and cooperation provided by Tacirler Yatırım, Rally will become a prominent platform in the modern financial world by offering investment opportunities in the US Stock Exchanges to its users.

Click here to visit the website!

Click here to open International Investment Account online to Rally platform with the assurance of Tacirler Investment

Through the Rally App, you can trade in Stocks and ADRs of more than 6,000 equities traded on the NYSE and NASDAQ. Once your account is opened, you can easily trade through our Android and IOS mobile applications.

You can access the trading platform with your mobile phone number and the password you created when you registered on the Rally Platform. If you do not remember your password, you can update it from the forgot password step.

Rally Android and IOS download access links;

US stock exchanges, particularly the NYSE and NASDAQ, are generally open from 09:30 A.M. to 4:00 P.M. Eastern Time (ET). Turkish Time (TRT) trading hours may vary according to Daylight Saving Time and Winter Time.  During daylight saving time, the US stock exchanges are open from 16:30 to 23:00 TRT, while during winter time they are open from 17:30 to 00:00 TRT. In the US, daylight saving time begins in March and winter time begins in November each year. Our clients with international markets investment accounts will be informed on our website during the transition to Daylight Saving Time and Winter Time.

In the US, this refers to the time periods after the market closes and before the market officially opens.

Rally is currently not available for trading during pre and post-market sessions. Your pre and post-market orders will be queued and transmitted to the exchange at market open.

Commissions, Costs and Expenses can be found in the Commissions, Costs, Expenses and Tariffs Form for Trading Transactions in Foreign Markets sent to you by e-mail after account opening.

You can fund USD cash balance to international investmen account to trade

You can fund cash from the banks where you have a USD account to your International Investment Account via the Tacirler Yatırım Bank Accounts listed in the table below.

In order to fund cash to your international investment account from your own bank, you need to write your Tacirler Investment Account Number, Name, Surname and DW in the description field.

Description Tacirler Investment Account No/ Client Name Surname/ DW

Note: If you do not write a description as stated above in money transfers, your money movement transactions may take longer.

You can fund cash in your Tacirler Investment Current Account directly to your Internationa Investment Account via Rally. You would like to fund your Turkish Lira or other currencies in your Tacirler Investment Current Account as USD through the Rally platform after converting them to USD at the best current exchange rates we receive from banks. You may contact your customer representative for your exchange rate transaction requests.

You can drawing your cash available for withdrawal from your international investment account to your behalf USD bank account at Akbank, Garanti BBVA, Yapı Kredi and Türkiye İş Bankası or to your current account at Tacirler via Rally Platform. You are able to view your cash available for withdrawal from your international investment account via Rally App.  

You can deposit and withdrawal to your international investment account between 09:00-16:00 on bussiness days in Turkish Time (TRT).

If the amounts you fund from the banks where you have USD accounts toTacirler bank accounts defined on Rally are recognized at Tacirler Yatırım Menkul Değerler A.Ş. before 16:00 (TRT), your USD balance will be reflected in the Buying Power on the Rally App. With the Instant Trading facility, your cash can be used to buy securities on the same day before it reaches your international investment account*.

If you fund your USD amounts in your Tacirler current account to your international investment account via Rally until 16:00, your USD balance will be reflected in the Buying Power on the Rally App. With the Instant Trading facility, your funds can be used to buy securities on the same day before they reach your international investment account*.

Your USD cash balances booked and recorded at Tacirler Investment after 16.00 and all requests submitted after 16.00 will be considered after one business day.

*The transfer of your USD balance sent to your International Investment account through Tacirler Investment, the completion of the cash settlement and its reflection on your total cash balance and assets in your account takes place 1 business day later (on T+1) due to settlement periods.

For withdrawal requests, the earliest possible time for transferring money from your foreign account to your USD accounts in banks defined on Rally or to your Tacirler Yatırım Current account is T+2 (two business days after the request) due to the settlement periods of the US stock exchange and interbank swift settlement periods. Cash deposited in U.S. markets will not be available for withdrawal on the same day due to cash settlement time.

Withdrawal requests made after 16.00 will be considered after 1 business day.

Deposits and withdrawals cannot be made on holidays in the U.S. and Türkiye.

In the U.S., the assets in your international investment account are custodied with DriveWealth LLC, a registered broker-dealer that is a member of the SEC and FINRA. Collateral and securities custody transactions within the scope of the lending transaction with DriveWealth LLC are deposited with BMO Harris Bank NA, an independent custodian bank.

• Click here for DriveWealth LLC's Important Disclosures on Participation in Fully Paid Securities Lending Transactions.
• Click here to access DriveWealth LLC's Fully Paid Securities Agreement.
• Click here for the Corporate Custody Agreement signed between DriveWealth LLC and BMO Harris Bank.
• Click here for the Collateral Account Control Agreement signed between DriveWealth LLC and BMO Harris Bank.
• Click here for the Collateral Management Agreement signed between DriveWealth LLC and BMO Harris Bank.

At Tacirler Investment,customer accounts are opened as Fully-Disclosed in our U.S. partner. Fully Disclosed Accounts means trading accounts opened in the name of the Client's or the Client’s end customer in respect of transactions. Each investment account opened on behalf of the client is protected by the Securities Investor Protection Corporation (SIPC), a non-profit corporation established under the Securities Investor Protection Act in the United States. SIPC is a not-for-profit member organization funded by member broker(s)-dealer(s) registered with the U.S. Securities and Exchange Commission. SIPC covers investment-related losses, such as a decline in the market value of an investment, or losses of cash and securities custody in an investment account, not losses related to cash held in a U.S. bank account or losses related to lending transactions. DriveWealth LLC is a member of the SIPC. SIPC oversees the liquidation of member firms that close when the firm becomes insolvent or in financial distress and client assets are lost. In a liquidation under the Securities Investor Protection Act, SIPC and the court-appointed Trustee work to return clients' securities and cash as soon as possible. Within limits, SIPC protects each client up to $500,000 for securities and cash (including a limit of $250,000 for cash only), expediting the return of missing client assets.

Click here to access the SIPC webpage for more detailed information.

Fractional trading refers to the ability to trade shares and share-like securities under 1 lot/quantity. Shares and equity-like securities owned under 1 lot are referred to as "Fractional Shares". Through Tacirler Investment, the Rally Platform provides the opportunity to trade equities traded on NYSE and NASDAQ with a low margin of USD 1.

What are Shareholder Rights in Fractional Transactions?

Shareholder rights for fractional shares are different from whole shareholder rights;

• Fractional shares cannot be transferred to a different brokerage house. ACATS system does not support the transfer of fractional shares. In this case, you may need to sell your fractional shares when you want to transfer your positions to another brokers-dealers.
• Different policies may be followed for fractional shares in the exercise of voting rights.
• If you are entitled to a dividend payment on fractional shares, the dividend paid must be above $0.01 to be credited to your account.
• Fractional shares may not be eligible to participate in mandatory corporate actions such as a share split, merger or spin-off.
• If you are entitled to receive less than 1 lot/quantity of shares as a result of a corporate activity, you may receive cash instead of shares.
• If your account is closed by DriveWealth LLC or Tacirler Investment, you may receive cash instead of the fractional shares in the account.
• Fractional shares are not lent out by DriveWealth LLC.

Available Order Types:

• Market Order:  An order to buy or sell a security as quickly as possibile at the current market price. This type of order does not guarantee an execution price.  However, it is important for traders to remember that the last traded price is not necessarily the price at which a market order will be executed and will be traded on a best execution at market opening. Market sell side orders on Rally support to place order with only quantity.     

• Limit Order: An order to buy or sell a security at a specified price or better. A limit order can only be filled if the security’ market price reaches the limits. A limit order carries the risk of no or partial execution, depending on current market conditions and available liquidity at the limit price. Limit orders on Rally do not support for fractional trading.

• Stop Order: An order to buy or sell a equity when the price of the equity reaches a set price, known as the stop price. When the stop price is reached, the stop order becomes a market order. In stop orders, if there is a short-term fluctuation in prices or the market opens at a different price than your stop order price, your order may be triggered and you may face potential losses. Stop orders on Rally do not support for fractional trading.

• If security trading has been halted by the exchange or the security is inactive, all orders placed for the relevant security will be canceled.
• All buy orders will be rejected if the security trades are closed or open for sell side only.
• Limit orders in notional amount (in dollars) are not supported in fractional trading. Therefore, limit orders in fractional trading will be rejected.
• Limit and market orders for whole shares will be queued at 04:00 A.M. ET.
• Market orders for fractional shares will be queued at 04:00 a.m. ET.
• For sell stop orders whole shares and in fractional shares, a market order is created if the market price touches the stop price during any session. If this market order coincides with the pre and post-market session, the order is stopped.
• Fractional trading may not be eligible for price optimization.
• If you have placed a market order in volatile market conditions, there may be significant differences between the price you saw before you placed the order and the price at which the order was executed. The bid or ask the customer sees when placing the trade is an indicative price only, and due to the fast-moving nature of the market, the actual executed price may differ.
  

For the transactions realized in international markets and the income generated, tax deductions may arise at source for "Buy" and/or "Sell" transactions at rates determined by the relevant stock exchanges and countries, which may vary depending on the country and stock exchange.

For example, dividend payments due to your stock transactions in the US stock exchanges or interest you may receive from your lending transactions, etc. may be subject to 30% withholding tax at source. However, due to the existing tax treaty between Turkey and the US, this rate may be lower for certain types of income. For example, lower withholding rates may apply to royalties, interest and dividend income.

Turkish citizens can claim exemption or reduced rates by filing form W-8BEN and taking advantage of tax treaty benefits. For more precise information on tax deduction rates and types of income, it is worthwhile to visit the IRS website or consult a tax advisor. See US IRS International Taxpayers Individual - International.

Throughout the life cycle of an account, tax documents are generated by DriveWealth LLC as a result of taxes withheld from client transaction activities and income. All tax forms are calculated based on the US tax season from January 1 to December 31.

Usually before the end of February, all tax forms are sent to the IRS for processing and acceptance by DriveWealth LLC. The day the year-end forms are available to end clients varies each year.

Not all client accounts are sent a year-end tax form. To understand if a client is eligible to generate a tax form, they must meet the following thresholds:

• Interest and Dividends exceed USD 10 or
• There were sell-side transactions in excess of $20 during the year, and
• If the account is not a tax-advantaged account (e.g. pension account)

Income, stamp or similar taxes or legal deductions may vary in foreign transactions, and tax obligations that may arise within the scope of the legislation of the Exchange and/or the country of transaction are the responsibility of our customers.

In addition, in Türkiye, the earnings of real and legal persons who are full taxpayers in international stock exchanges are taxed in the declaration procedure. In addition, even if there is no gain from the transactions, you may be required to file a declaration in Türkiye for any appreciation in your favor due to exchange rate differences. Therefore, you should be aware that you may need to consult your tax specialist regarding your tax obligations both abroad and in Türkiye

However, it is the responsibility of all investors to declare the tax they are obliged to pay on the profits derived from the transactions they realize through international transactions and to ensure compliance with the legislation. Tacirler Investment is not responsible for tax payments, documents and certificates that may arise within Türkiye and/or within the scope of the legislation to which the Exchange is subject.

• Please click here to access the Turkish Revenue Administration's Tax Guide for Taxpayers with Securities Income.
• Click here to access the Turkish Revenue Administration's Securities Capital Income Quick Guide.
• Click here to access the Turkish Revenue Administration's Ready Declaration System.
• Click here to access the Turkish Revenue Administration's Ready Declaration System introduction video
• Click here to access the training video on declaration and payment procedures through the Turkish Revenue Administration's Ready Declaration System.
• Click here for Domestic Producer Price Index data.
• Click here to access the exchange rates announced by the CBRT

When DriveWealth LLC initiates a Securities lending transaction, the borrower of Fully Paid Securities will pay a lending payment. This lending payment is an interest rate-based fee calculated by multiplying the lending interest rate by the market value of the loan securities. The lending fee may vary depending on the relative value of the Loan Securities on the securities lending markets and depending on market conditions and demand for borrowing. No securities custody fee will be charged upon your automatic participation in the Fully Paid Securities Lending program.

If you terminate your participation in the Lending transaction, DriveWealth LLC may not allow you to participate in the securities lending program again. If you terminate your automatic participation in the Securities Lending Program, Tacirler Investment will calculate the monthly average of the asset totals on a daily basis and the custody fee with a monthly calculation rate of 3 per ten thousand will be debited to the Client's current account in TL on a monthly basis. Your request will be processed after you submit your request for exit from the Securities Lending Program to Tacirler Investment with a wet signed petition

Securities Exchange Act of 1934: This law is critical for regulating securities trading and establishing guidelines for securities transactions, particularly securities lending. Sections on Custody and Borrowing: Section 15(c): Addresses the duties of brokers, including the handling and borrowing of securities. Section 17: Sets out requirements regarding recordkeeping and custody responsibilities for securities held by brokers.

Investment Company Act of 1940: Imposes restrictions on investment practices for investment companies, including the borrowing and lending of securities. Section 17(f): Reinforces the need for independent custody arrangements by requiring fund assets to be held by a qualified custodian.

Rule 15c3-3 (the Client Protection Rule) is a Securities and Exchange Commission (SEC) rule that outlines requirements for the safekeeping of client securities. Emphasizes the need for safe custody by requiring that client funds and securities be kept separate from the firm's own assets. by the SEC A series of rules adopted  are available.

In addition, the Financial Industry Regulatory Authority (FINRA) has rules governing the conduct of member firms with respect to the custody and lending of customer securities. 

Pursuant to the provision of the Intermediation Agreement on Trading on International Markets (Article 14), Tacirler Investment will accrue and collect the commission at the rates detailed below over the buy and sell amount from the client in return for the buy and sell orders of stocks and similar and international capital market instruments to be realized on behalf of the client. The customer agrees that different commission rates at the rates specified below will be debited to his/her account on a daily basis according to the type of transaction he/she performs; The Client accepts, declares and undertakes that the BITT at the rate of 5% will also be debited to his/her account and that the BITT is not included in the following commissions and expenses, that tax deductions and legal fees may arise from "Buy and/or Sell" transactions on international stock exchanges, which may vary from stock exchange to stock exchange, at rates determined by the relevant stock exchanges and which may vary, and that these taxes and legal fees will be reflected in his/her account. Tacirler Investment has the right to freely change the commission rate or commission rate scale at any time. The Client accepts that different commission rates specified below will be applied according to the changing commission rate or commission scale and the total amount of daily transactions made.

• In the event that the Client requests to terminate from the FDIC Cash Management Program and/or Fully Paid Securities Lending Program in which the Client is automatically enrolled under the agreement, after the request is processed, the monthly average of the asset totals on a daily basis shall be calculated by Tacirler Investment and the custody fee with a monthly calculation rate of 3 per ten thousand shall be debited to the Client's current account in TL on a monthly basis.
• Low-Priced Securities are securities traded on US stock exchanges with a price below $1.00. For buy or sell transactions over 300 shares in low-priced securities, an additional commission fee of USD 0.005 per share is applied in addition to the current commission tariff in commission pricing. In the event that the relevant exchange changes the low-priced securities trading fees, the current fees will be reflected in the client account. The Client accepts, declares and undertakes that he/she will follow the transaction fees on the trading platform before sending the order and after sending the order in the transaction history or in the monthly account statement provided by U.S. Execution Broker
• In case of emergencies, only notional (amount) orders are accepted for orders to be placed through the dealer via telephone.
•  Outgoing USD Wire Transfers can only be made to foreign currency deposit accounts opened on behalf of the customer at contracted banks. You can see the contracted banks in the money transfers tab on the trading platform. Tacirler Investment reserves the right to change the transfer fee tariff for Outgoing USD Wire Transactions.
• Swift transactions are made to foreign currency deposit accounts opened at the relevant bank on behalf of the customer. Transfers are not made to third party accounts.
• Automatic Client Account Transfer (ACAT) is the transfer of securities from one account at a separate bank or brokerage firm to another.  This transfer can be done for any security or derivative; stocks, bonds, options and futures can be transferred through ACAT.
• DTC is used by a designated depositary bank to deposit a company's daily certificates from multiple locations. DTC is a way to provide better cash management for companies that collect cash from multiple locations.
• Deposit/withdrawal at custodian (DWAC) is a method of electronically transferring new shares or share certificates to the Depository Trust Company (DTC) using the Fast Automated Securities Transfer (FAST) service transfer agent as the delivery point.
• The Direct Registration System (DRS) is a system that allows the direct electronic registration of securities on behalf of an investor directly on the books for the transfer agent or issuer and allows shares to be transferred electronically between a transfer agent and an intermediary.

A notional fee, other than related brokerage commissions, added to sell side transactions, Exchange Traded Funds and American Depositary Receipts traded on US exchanges and ultimately borne by investors. It is a regulatory fee charged by the SEC to cover the costs of supervising and regulating companies. The SEC fee is defined in Section 31 of the Securities Exchange Act of 1934 and is therefore often referred to as the Section 31 Transaction Fee.  The SEC announced that starting May 22, 2024, the fee rate for most securities sales transactions will be $27.80 per million dollars. This fee will always be charged at least $0.01. The Commission will issue additional notices, where appropriate, to inform the public of developments regarding fees under Section 31. These notices will be posted on the SEC's website at http://www.sec.gov. You can follow these notices on the SEC's website at http://www.sec.gov and will be able to view the current regulatory fees that will be reflected on sell side transactions due to the changes on your monthly account statement provided by the foreign investment entity.

The Trading Activity Fee (TAF Fee) charged by the Financial Industry Regulatory Authority (FINRA) is the regulatory fee charged by FINRA to cover the costs of supervising and regulating brokerage firms. It applies to all sell side transactions of equities, Exchange Traded Funds and American Depositary Receipts. The fee is based on the number of units sold. The fee is $0.000166 per share, with a maximum fee of $8.30. This fee is always at least $0.01. FINRA's From  You can follow the changes and see the current legal fees that will be reflected in the sales transactions due to the changes in your monthly account statement provided by the foreign investment institution. 

American Depository Receipts (ADR) fees vary according to the amount of ADR per share.  For example, for 1000 ADRs, it may be assessed a fee ranging from 20 to 50 USD. Investors may register ADRs on Form F-6 under the Securities Act of 1933 on the SEC's website at http://www./sec.gov/edgar.html. ADR fees can be viewed in the section of the registration statement generally entitled "American Depositary Share Disclosure" or "American Depositary Certificate Disclosure." The websites of depository banks operating in the United States also contain information about investing in ADRs and serve as a source of information for investors. Custody of American Depositary Shares (ADSs) may be charged 1 to 4 times per year by the U.S. depository bank that issues and cancels ADRs. For information on ADR Fees, please refer to the relevant ADR prospectus. ADR fees can be tracked in the ADR prospectus and the current ADR fees due to changes in the ADR fee by the depositary can be seen in the monthly account statement provided by execution and self-clearing broker.  ADRsFor more information on the SEC's  ADR Investor Bulletin.