GETTING STARTED
What is Upstream? What are Upstream’s market hours and trading days? What does it mean that Upstream is a MERJ Exchange Market? What is MERJ Exchange? How is MERJ regulated? Who can trade on Upstream? Who can buy Collectibles on Upstream? What devices can I trade on? Can a U.S.-based investor trade on Upstream? What opportunities can I participate in on Upstream? How much does it cost to use Upstream? What technology is powering Upstream? What is the vision behind Upstream?OPENING & FUNDING YOUR ACCOUNT
How do I open an Upstream account? When would you require my identification? Trouble Receiving Your KYC Code SMS? How do I fund my Upstream account using PayPal? How do I fund my Upstream account using a debit or credit card? When I try to fund my account using a Debit or Credit Card, I’m asked to log in to PayPal. Why is this? How do I Fund my Upstream Account using a Bank Wire Transfer? How are my U.S. Dollar funds kept safe? How do I use my Upstream wallet on Mainnet/Metamask? How do I fund my Upstream account with USDC cryptocurrency? How do I withdraw Upstream funds back to USDC cryptocurrency? How are my USDC funds kept safe? How long does it take to KYC on Upstream? When will my funds be available to invest? How can I check the current balance of my Upstream funds? Is there a minimum funding requirement? How do I withdraw funds from my Upstream account? What are the fees to fund or withdraw funds from my account? Can I open a Joint or Corporate account?ACCOUNT MANAGEMENT & LOGIN
What is a Signing Key and why is it so important? How do I backup my Signing Key? How do I disable Two-Factor Authentication? What does the ‘Logout’ button do? What happens if I lose my phone or delete the app? What happens if I lost my Signing Key and forgot to back it up? How do I change or update my personal information? How do I change my bank information? How will you communicate with me about my account? Will I receive notices or statements? Will my account information remain confidential? How is the money in my Upstream account protected? How are the securities in my Upstream account protected? How do I enable biometric security? How do I close my Upstream account?TRADING & PORTFOLIO MANAGEMENT
Where do I go on the app to buy and sell securities from the market? What’s the Orderbook? How do I buy securities? How do I sell securities? How do I transfer shares to Upstream? How to move shares back to US markets What are the different order expiry options? How do I manage my security Portfolio? How do I sell securities from my Portfolio screen? How do I add a security to my Watchlist? How do I cancel an active securities order? How can I see the blockchain details for my orders? What are candlestick charts? Does Upstream offer margin trading? Does Upstream allow short selling? Does Upstream solicit trades? What are the fees associated with trading? What is a dividend? What is an ex-dividend and record date? What are the risks of investing?OPTIONS
What is a Stock Warrant? What is Options Trading? Upstream supports four options trading instruments Upstream supports one warrants trading instrument Upstream Options Trading Fees Long Call (option holder) Long Put (option holder) Covered Call (option writer) Short Put (option writer) Option StrategiesCOLLECTIBLES MARKET
What is a Collectible? What is the Upstream Collectibles Marketplace? How do I Claim a Collectible? How can I purchase a Collectible? What’s a redeemable Collectible? How can I redeem a Collectibles? What are Collectible Transactions? What is a Collectibles Auction? How can I sell a Collectibles? What if I am the highest bidder when the Collectible Auction closes? Where can I create a Collectible? Can I track how my auction is doing? What happens if one or more people bid above my reserve price? What happens if nobody bids at or above my reserve price? Can I cancel an auction before the close? How do I place a bid? Where can I read the full Terms and Conditions for Collectible Auctions? What technical standard do Upstream Collectibles follow? How do I report objectionable Collectible media? How do I report copyright infringements of Collectible media offered for auction? When I own a Collectibles, what are my rights? How do I export my Collectible, and what is the fee for a Collectibles export? How can I “see” my exported Collectible in MetaMask? What might Upstream consider objectionable Collectible material? What are Upstream’s unique Collectible integrations? How do I book an intro call? What are the Collectibles on Upstream versus Collectibles on other platforms?GETTING LISTED ON UPSTREAM
How do I list my company on Upstream? How do I receive an application to list my company on Upstream? What are the benefits of listing my company on Upstream? Why should I make secondary trading a part of my growth strategy? What types of assets are traded on Upstream? What’s included in Upstream’s marketing package for listing? What is a digital coupon? How do I claim a digital coupon? How do I redeem a digital coupon?FAQS
Are trades solicited on Upstream? What is the World Federation of Exchanges? Who is Upstream’s Cash Custodian? Is there any payment for order flow on Upstream? What is the "Pay Up" feature on Upstream?LEARN
Blog:GENERAL OFFER INFORMATION
What is a Prospectus? What are the major differences between common and preferred stock? What is a PIPE, private placement or secondary offering? What is Suitability? What is a Registration Statement? What is an Unaccredited investor?IN-APP ADVERTISING
What is Upstream IN-APP ADVERTISING service? Is my personal data shared with advertisers? How do I Opt-In to advertising services? How do I remove myself from the advertising services? How do I claim the rewards for viewing advertisements?MARKET POOLS
What are Market Pools? What happens to my shares when I deposit them into a Market Pool? What happens to my money when I deposit it into a Market Pool? Do Market Pools pay liquidity providers a fee? How can I withdraw my Market Pool earnings? How does Market Pool trading work? How to evaluate the price my trade would get when a Market Pool is the counterparty? Can Upstreams' trading circuit breakers affect Market Pool trades? What happens if I try to buy all the shares inside a Market Pool? What happens if I try to bulk-sell my trades into a Market Pool? What is impermanent loss?Upstream, a MERJ Exchange Market, is a fully regulated global stock exchange and trading app. Powered by Horizon's ERC-20 smart-contract securities matching engine technology, and Horizon’s ERC-721 smart contract Collectible auction engine technology, the exchange enables investors to directly trade shares in dual listed companies, IPOs, celebrity ventures, and other unique asset classes directly from the Upstream app. Investors can fund their Upstream trading account using a credit/debit card, PayPal, USDC stablecoin on Ethereum or traditional bank (fiat/legal tender) payments such as ACH in the U.S., or a wire transfer of funds in the U.S. and internationally.
Upstream app layout
The Upstream app is made up of five separate tabs that can be selected by tapping the relevant icon at the bottom of the app screen:
All of these screens can be updated by dragging down on the screen, a “pull down to refresh” motion.
Upstream is open for 20 hours per day, Monday through Friday. Please visit https://merj.exchange/enquiries/market/market-hours/ for the latest on market hours and holidays.
Upstream is a MERJ Exchange market (MERJ). MERJ operates a fully regulated and licensed integrated securities exchange, clearing system and depository for digital and non-digital securities. MERJ is an affiliate member of the World Federation of Exchanges (WFE), a member of the African Stock Exchanges (ASEA), a member of the Committee of SADC Stock Exchange (CoSSE), a full member of the Association of National Numbering Agencies (ANNA) and a Qualifying Foreign Exchange for OTC Markets in the U.S. MERJ became one of the fastest growing exchanges in 2020 by disrupting the traditional stock exchange model.
MERJ Exchange is an innovative end-to-end, multi-market global financial exchange for equities, debt and derivatives. MERJ has expanded its capabilities by providing markets and services for security tokens and digital assets. Visit https://merj.exchange/.
MERJ is overseen and regulated by the Seychelles Financial Services Authority ("FSA") which is the securities and other non-banking financial services regulator in the Republic of Seychelles. The Seychelles FSA is also the primary regulator for anti-money laundering compliance and works closely with the FIU to implement and ensure adherence to OECD Financial Action Task Force (FATF) recommendations.
Upstream, a MERJ Exchange Market, is a global exchange for traders of all ages. To create an Upstream account, you’ll need to meet the following basic requirements:
Requirements for traders over 18 years old
U.S. persons may not deposit, buy, or sell securities on Upstream. However, U.S. persons may create, buy, auction or bid-for Collectibles on Upstream. U.S. person additional requirement.
U.S. person additional requirement
Canadian residents may not buy securities on Upstream
Requirements for under 18 years old
Funding requirements
*Trading not available for citizens of countries restricted by the Office of Foreign Assets Control (OFAC), Financial Action Task Force (FATF) identified high-risk and non-cooperative jurisdictions, and other high-risk jurisdictions, designated at the sole discretion of Upstream.
** Trouble receiving an SMS in your region? Go here for alternate instructions.
Everyone can purchase or claim Collectibles.
Trading and account openings are only available through our Apple (iOS) and Google (Android) smartphone apps, as well as our Apple Mac OS desktop app. Account access should be secured using the biometric security feature and/or the two-factor authentication feature of the Upstream apps on your smart devices.
U.S. persons may not deposit, buy, or sell securities on Upstream. However, U.S. persons may create, buy, auction or bid-for Collectibles on Upstream.
Deposit, buy and sell stocks and collectibles from U.S. and international companies on one global trading app.
Upstream sign-up is free. There are no associated membership fees, no minimum dollar amount to maintain an account and no order-placement fees or Collectible bidding fees.
There is a 1% fee charged when your securities buy or sell order executes on the Upstream secondary market.
Upstream does not charge its 1% fee to Collectible buyers, it charges 2% to successful Collectible sellers.
IPO orders on the Upstream primary market settle immediately upon IPO close. A buyer must have sufficient funds in their account to place an IPO buy order. This ensures that the issuer is paid, in full, immediately upon IPO close. Upstream does not permit U.S. persons to participate in IPOs.
Upstream is operated as a regulated stock exchange by Horizon Globex GmbH (Horizon) and is powered by Horizon’s ERC-20 smart contract securities ecosystem, and Horizon’s ERC-721 smart contract Collectible ecosystem, running on an Ethereum layer-2 optimistic-rollup proof-of-authority blockchain, Ráneum. 7 years in the making, Horizon’s tech. stack offers a one-stop shop from securities issuance through to secondary trading and settlement as well as Collectible minting, auction and settlement. The Horizon trading technology suite covers initial securities and Collectible issuances, onboarding KYC/AML, cap. table management, dividend payment, regulatory compliance, listing for of securities and Collectibles for secondary trading on Upstream. Learn more at https://www.horizonfintex.com/.
We aim to unlock liquidity for investors of all levels on our investor-driven, app-based market. On the surface, Upstream offers global investors a real-time, secure, and intuitive trading app. Under the hood, Upstream introduces what we believe to be the future of securities and Collectible trading featuring some of the highest levels of transparency, accessibility, and investor protections enforced using Ethereum smart-contract technology.
Signing up for an Upstream account is easy. Simply download the App from Google Play, Apple Store and Mac App Store and follow the instructions on your screen. Begin browsing available opportunities immediately.
Watch tutorial video on how to create an account
U.S. Dollar withdrawals from a trader's Upstream app will only ever be sent to the same bank account from where the investor originally funded from.
Once your Upstream account balance reaches $500 or more, you will be prompted to complete our light-touch KYC process to continue trading, which we’ve made as fast and frictionless as possible. Complete a few pieces of personal information, snap a photo of your ID, then we’ll verify your data. Once approved, you can continue to fund, you can withdraw cash, and, of course, continue to trade Collectibles and all available quoted securities.
What to have handy:
Upstream is a fully regulated marketplace. Verifying that you are who you say you are is legally required in order for you to trade safely and securely. This is to prevent money laundering, illicit activity, and bad actors from entering our Upstream community.
We ensure all your personally identifiable information is secure and in accordance with the most stringent global data protection rules. In fact, all data submissions awaiting review are kept in memory in an auto expiring cache and identity verification is never outsourced to a third party.
Depending on your location or coverage, you may experience trouble receiving your verification SMS TAN during the KYC process. To assist you in these circumstances, we provide an alternate method to receive your KYC code. Visit https://kyc.upstream.exchange/whatsmycode to retrieve your code.
*Note you don't have to have a PayPal account to fund your account using a credit or debit card.
When funding your account with PayPal, a fee of 3.49% + 49c is applied to deposits from US customers. A fee of 4.99% + 49c is applied to International Customers.
Watch tutorial on how to fund using PayPal
*Note you don't have to have a PayPal account to fund your account using a credit or debit card.
When funding your account with PayPal, a fee of 3.49% + 49c is applied to deposits from US customers. A fee of 4.99% + 49c is applied to International Customers.
Watch tutorial video on how to fund using debit or credit
On rare occasions, users may find that they are asked to log in to or create a PayPal account, even when they tap the Fund With Credit Card link in their app. Our credit card payment processor, PayPal, will only show this option based on your device; typically the device’s location, if the email entered has previously been linked to a PayPal account or local cached internet files (If you have frequently used PayPal guest checkout services on your device). If you only see the option to use a PayPal account, try clearing your device’s default web browser’s internet cache and try again. For details on how to do this, please consult the help files on your default web browser. If the issue persists, you will need to create a PayPal login and link your credit card to the account, or fund using an alternative method such as USD wire transfer.
To fund a trading account on Upstream using bank payments a trader will need to first go through our streamlined Know Your Customer ‘KYC’ identity verification process.
To complete KYC, tap the ⚙ icon in the navigation bar, then tap KYC. Be sure to have a valid form of ID handy and complete the few questions as prompted. During KYC, select 'Bank' as your 'Payment From' preference. After KYC is approved, traders may initiate a wire or a funds-transfer from any bank or financial institution to the following account:
*The traders 40-character Ethereum wallet address is shown on the top right hand corner of the Upstream app’s home screen and begins with 0x.
After an account is funded the trader will receive an app push notification that the Upstream account is funded, and you may begin transacting.
Every Upstream trader that funds their account receives a new, U.S. Dollar bank account at Upstream’s U.S. banking partner, Absa Bank (Seychelles) Limited. Citizens of any country in the world, excluding sanctioned territories*, may fund their Upstream account with currency from their country which, when not originating in U.S. Dollars, will be exchanged for U.S. Dollars at the prevailing currency exchange rate between the two banks.
Note, in-line with Upstream’s anti-money laundering compliance policy, Upstream does not permit third-party bank transfers. In other words, the sending bank account must have the same name as the name provided by the trader during Upstream’s KYC process.
Bank account information, and currency transfer instructions, will also be emailed to the trader after Upstream approves a traders KYC information.
All Upstream accounts are individually insured and are bankruptcy protected. See here for details. For additional investor security, U.S. Dollar withdrawals from a trader's Upstream app will only ever be sent to the same bank account from where the investor originally funded from.
Upstream traders can transfer USDC cryptocurrency into Upstream via the Upstream Bridge smart contract on Ethereum mainnet usdc.upstreambridge.eth.
The Upstream Bridge is a Multisig smart contract that is monitored for USDC deposits by the Upstream bridge-service application. For each eligible Ethereum mainnet USDC deposit received, a 1-to-1 mint of Upstream’s Ethereum Layer-2 US Dollar stablecoin is performed for the wallet address of the sender, thereby locking Ethereum Layer-1 USDC’s while making the same amount of money available for the sender on Upstream, this is commonly called a ‘bridge’.
It is imperative that the Ethereum mainnet senders address is the same as the Upstream app user address. To find the Upstream address, navigate to the Settings screen inside the app and the address is shown as 0x followed by a unique 40 character alphanumeric string per user.
Funding with USDC
An Upstream user may have a personal USDC wallet on Ethereum mainnet in a hardware wallet (such as Ledger), a software wallet (such as Metamask), or at an exchange (such as Coinbase). To send funds from their personal wallet on the Ethereum mainnet, the user must first transfer USDC from their mainnet personal wallet to the Upstream wallet address that they previously imported to Metamask.
Once the USDC is in the Upstream wallet address on Ethereum mainnet, the user can transfer USDC to the usdc.upstreambridge.eth address using Metamask.
The Upstream bridge-service automatically recognises user deposits coming from known Upstream wallet addresses and then mints the corresponding amount in Upstream US Dollar stablecoins in the users Upstream app.
In summary, to fund Upstream using USDC:
Why Can’t I Transfer USDC Directly from my Personal Wallet?
Upstream does not mint Upstream US Dollar stablecoins from USDC deposits on Ethereum mainnet from addresses that do match existing Upstream app wallet addresses. Invalid deposits cannot be rejected by Upstream due to the nature of blockchain transfer functions, but they will be ignored and such funds may be lost forever
It must be noted that if an Upstream user ever funded their account with US Dollar fiat (bank transfer, debit card, or credit card), then Upstream app withdrawals will automatically be in fiat, irrespective of whether the user partially funded with USDC in the past. Therefore, only if a user funded exclusively in USDC will this user be considered eligible to withdraw in USDC.
To withdraw funds on the Upstream app:
For security purposes, this smart contract requires another two out of a possible four Upstream back-office personnel to confirm the withdrawal. They do this by signing an Ethereum transaction from a registered wallet.
Pending withdrawals can be found at https://upstream.exchange/bridge/index.html?symbol=USDC.
Upon multi-signature by the two Upstream personnel, the users USDC funds are available for transfer to the Ethereum mainnet wallet address that equals the Upstream app wallet address that initiated the withdrawal.
The withdrawing user must then connect their wallet to the Upstream USDC-withdrawal website by tapping the ‘Connect Wallet’ button, and tapping the ‘Withdraw’ button to complete their withdrawal. The user will be prompted by Metamask to pay the Ethereum gas fees associated with the previous three Upstream staffs’ Multisig actions, and taps ‘confirm’ to have the USDC transferred from the Upstream smart contract to their Ethereum mainnet wallet address. The USDC can now be transferred back to the user's personal wallet.
Note, Upstream does not charge a USDC withdrawal fee. The exact number of US Dollars withdrawn from Upstream will be transferred to the user on Ethereum mainnet as USDC.
In summary, to withdraw USDC from Upstream:
USDC funds held inside the usdc.upstreambridge.eth smart contract may only be withdrawn after three out of five Upstream Multisig wallets confirm the legitimacy of the withdrawal. And, only the Upstream bridge-service wallet address may initiate the withdrawal process on Ethereum mainnet.
The Upstream Multisig smart contract source code is public, is audited, and may be reviewed at any time by the Upstream community.
Rebalance to Cover Risk
To reduce the likelihood of the smart contract becoming a high-value target for hackers, there is a maximum amount of USDC that Upstream will allow to be held inside the bridge at any one time, currently 10,000. Therefore, once the threshold is exceeded the Upstream back-office will initiate a USDC withdrawal to Upstream’s mainnet company wallet, where USDC will be sold on a cryptocurrency exchange for US Dollar fiat. The fiat sales proceeds will be deposited in Upstream’s U.S. bank account.
Rebalance to Cover Withdrawals
In the event that the balance of USDC available for withdrawal is too low to cover pending withdrawal requests, currently 7,500, then Upstream will sell US Dollar fiat from its bank account for USDC, and transfer the USDC proceeds back to the usdc.upstreambridge.eth Multisig smart contract.
Assuming you have provided the appropriate KYC information, approvals can be as fast as 15 minutes and, depending on date, time and queue, it could take up to 48 hours (about 2 days), Monday to Friday. If additional information is required, or if we have many submissions awaiting approval, it could take up to 2 weeks.
Security Note: Depositing funds to your Upstream bank account without a prior deposit-intent may delay your funds’ arrival in your Upstream trading account.
Deposits will only be accepted from the account number that you supplied during the Upstream app onboarding process. This is for your protection.
PayPal | Credit | Debit cards: Instantly
USDC typically within 15 minutes
You can see the balance of your funds in the Portfolio screen on Upstream. Note, there are two numbers shown; one is the actual Balance of funds and the other is the Available Balance of funds you have available for trading. The available balance will be lower than the actual balance if you have already placed one or more securities buy orders or Collectible bids. The total value of your buy orders (share price * order size), and maximum Collectible bid, is blocked on your Upstream trading account until your order is executed, is cancelled by you, or expires at the Upstream exchange.
There are no minimum funding requirements, however you may not trade in an amount greater than your account is funded.
Login to your account
Tap the ⚙ icon
Tap Manage Account
Tap Withdraw
Enter amount you intend to withdraw from your Upstream account
Tap Confirm
Your withdrawal request will be processed by PayPal if your withdrawal amount does not exceed your original PayPal/Credit Card/Debit Card deposit amount. For withdrawals above this amount, the withdrawal will be processed by the Upstream banking partner using the Upstream API. However, certain AML and suspicious transaction checks may be made by Upstream or our custodians which may delay your withdrawal and we may request further information from you by email or by calling your cellular phone.
In the U.S., ACH transfers typically take 1 day, and international bank transfers typically take up to 3 days to arrive at your personal bank account.
Security Note: Withdrawals will only be sent to the bank account number that you supplied during the Upstream app onboarding process. This is for your protection.
There are no fees to maintain your account however there are fees associated with individual actions including the following (all fees will be deducted from your cash balances):
Outgoing/Withdrawal Wire Transfer Fee from your Upstream account to your local bank account:
ACH Free
International Wires $30.00
PayPal 2.99% (U.S. Only)
PayPal 2.99% + local currency fee
When funding your account with PayPal, a fee of 3.49% + 49c is applied to deposits from US customers. A fee of 4.99% + 49c is applied to International Customers.
USDC Fees
You only pay the Ethereum transaction fee (gas) to transfer USDC in to Upstream and out of Upstream.
Securities Trading Fee: 1% trade fee charged should you buy or sell shares in the open market.
Collectible Trading Fee: 0% to buy Collectibles and 2% to sell Collectibles.
Collectible Auction Fee: $1 fee to list an Collectible for auction.
Yes, to open a corporate account during KYC identity verification please select 'Bank' as your deposit from method and enter the name of the company in the field provided. To complete KYC open the Upstream app, tap the settings icon in the top right, then KYC. On the Payment Details screen where it says Deposit From, hold and scroll to change the default from 'Card' to 'Bank'. Form fields will appear for your company name and company bank details. U.S. domiciled companies or non-U.S. companies whose ultimate beneficial owner(s) is a U.S. person may not trade securities on Upstream.
A Signing Key is a way of storing a password protected file that contains your blockchain public and private keys, together this makes a key pair. Upstream will never know your local private key. A great way to think about your Signing Key is like a Pin Code to your ATM card. When you join Upstream, you are entering into a non-custodial environment. This means that you control your assets directly on your device. To make things easy, we make this Signing Key unlockable using your biometrics and this check is enacted every time you make a blockchain transaction, such as a buy, sell, bid, auction, or funds withdrawal on Upstream.
It's critical that you export a copy of your Signing Key to a safe place. This way if you lose your device or forget your password, you’ll be able to recover your securities and Collectibles using your private key.
From June 2022, your Upstream app will require you to back-up your Signing Key to the cloud as part of the account creation process. On Android OS smartphones, you’ll be prompted to save to your phone’s Google Drive cloud account, in the root folder (Example: keystore_0x9a2ab7f1b6d00d6ae79e29d8f8d0f33e7608b508.txt). For iOS, we'll automatically back this up to an iCloud App Container, which cannot be accessed from outside the app.
You can also make a back-up of your app’s Signing Key at any time by going to the tapping the ⚙ icon to enter the Me screen, and tapping “Manage Signing Key” and, tapping the “Export Signing Key” button. You will be prompted for your biometric verification or the Keystore password. Upon successful verification you will be prompted to select a destination for your Keystore (such as Mail, Notes etc.). Note, the Keystore, when exported, remains password protected and is useless to anyone that does not know your password.
For IOS users who are receiving an iCloud backup message:
If you’re receiving a message about iCloud Backup on your iOS device, this could mean that you’re not signed into iCloud or that your iCloud drive is turned off. Please go to your iOS settings, tap your iCloud profile, sign into iCloud, tap iCloud, tap iCloud drive and turn it on.
You can disable two-factor authentication by clicking the setting icon then tapping “Unlink Authenticator”. Disabling two-factor authentication is not recommended as it reduces the overall security of your Upstream app on your device.
On the ⚙ screen you will see a “Logout” button. Tapping Logout will terminate your session at the server, and you will be required to reauthenticate (using two-factor authentication, when enabled) again. It is a very secure way to disconnect your app if you will not be using it for a few days.
As long as you have your Signing Key safely backed-up, it’s easy to get back to your account.
Contact servicedesk@upstream.exchange
Tap the “Investor” tab at the bottom of the Upstream app, then tap “Update Personal Information” tile and select the information that you wish to change and “Notarize” the information using your Signing Key. If you are having difficulty or have any questions on this, please contact servicedesk@upstream.exchange.
Every Upstream deposit of funds is confirmed to the user by email, a push notification is sent to the Upstream app, and will appear in the Upstream app’s “Me” screen under the “Message Center”.
Every Upstream buy or sell order is notified to the user by a push notification to the Upstream app and will appear in the Upstream app’s “Me” screen under the “Message Center”.
Upstream users that have passed KYC may request monthly account statements by contacting us by e‐mail at servicedesk@upstream.exchange.
We believe that your wealth is an extremely private matter and your identity and financial records are kept strictly confidential. No mailing lists are sold, nor is any client information shared with outside firms unless legally mandated or directed by you. For more information, please see our privacy policy.
All Upstream accounts are individually insured and are bankruptcy protected. See here for details.
Upstream USDC funds, U.S. and non-U.S., may be sold Upstream for US Dollars (fiat) at Upstream’s sole discretion.
Upstream securities are issued by registered companies with verified management teams that have their share register managed by a designated share registrar in conjunction with Upstream. When using Upstream, all shareholder names and balances are known to the issuing CEO and their share registrar. In the event that your device is lost or stolen, and you are unable to recover your Private Key from your Signing Key backup, then Upstream will assist you in replacing your lost (digital) shares by liaising with the issuer, their registrar and yourself to cancel the lost shares, and issue new shares in their place to your new, re-verified, Upstream account. You can contact us at servicedesk@upstream.exchange to replace lost shares.
The market value of securities positions in Upstream is not insured and is subject to market fluctuations and risk. U.S. person may not hold securities on Upstream.
The Upstream app allows you to enable biometric verification for trades and withdrawals by tapping the ⚙ icon, tapping “Settings” and sliding the “Use Biometrics for Keystore”.
Please contact us at servicedesk@upstream.exchange to close your Upstream account.
Once you navigate to the market, you have the option to view all available securities. Tap on any of the securities to see its current share price, share history, buy and sell your shares, and view the Orderbook. U.S. persons may not trade securities on Upstream.
The Orderbook shows best bids and offers for a given security in real-time. Since Upstream is based on a public blockchain, every Upstream trader can see the complete orderbook depth. There are no hidden orders or iceberg orders allowed on Upstream. All Upstream orders must be signed using a Private Key on the app and no automated, high frequency or algorithmic trading is permitted. So, on Upstream, every trader has fair and equal access to the market data. And Upstream does not sell or otherwise make its real-time trading-data available to third parties, APIs or algorithmic trading services.
Depositing your shares into Upstream is easy! Upstream can accept the shares that you hold in your current brokerage account, shares that are held at the transfer agent in entry, or your physical stock certificate. Here’s how to deposit your shares, step by step.
Please note that the value of each share deposit request on the Upstream app may not exceed $100,000. This value is determined by the closing price of the security on the previous trading day multiplied by the number of shares being deposited.
Once you make the share deposit request using the Upstream app, and the transfer agent has your shares in 'book entry', then most of the time the Upstream deposit process typically completes within 48 hours (Monday to Friday, excluding U.S. holidays).
Once the shares are in your account, you’re ready to trade on the next generation exchange! Enjoy real-time trading, a transparent orderbook, and other features enforced by blockchain technology. View your shares anytime, anywhere in your Upstream Portfolio. For more information on trading, visit Upstream’s support center.
Note, Upstream will consider requests for deposit and sale of Securities falling under the categories:
Shares trading on NASDAQ or the NYSE
Shares trading on the OTC Markets
Shares issued in private offerings exempt from registration under the Securities Act pursuant to Securities Act Rule 506(c) of Regulation D or Regulation S.
These offerings must comply with the Upstream view that securities must be registered or have a valid exemption from registration in connection with their original issuance pursuant to U.S. or European securities laws in order to qualify for secondary trading on Upstream. In addition, this applies to securities currently trading and held in DTC or Euroclear.
However, Upstream will not consider or accept for deposit any Securities:
It’s simple to move your shares back to the US Markets.
Step 1. Open Upstream, Tap Investor, Withdraw Securities. Enter Ticker Symbol and the Number of Shares you wish to withdraw, then tap Submit.
Step 2. The transfer agent will receive your shares immediately and will hold them in digital book entry in your name.
Step 3. The transfer agent will provide you via regular US mail a DRS Advice (Statement) that shows your shares are now held at the transfer agent in book entry. If you would like to move the shares back to your US brokerage account you will need to contact your broker, provide them with a copy of your DRS Advice and have them request that the transfer agent send back your shares. They will provide you with appropriate forms to complete.
+Immediate or cancel (IOC)
Will execute all of your order immediately, or if the entire order cannot be filled, it fills part of your order and cancels any unfilled portion of the order.
+1 hour
If the order doesn’t fill in one hour it will expire and be cancelled.
+Day
If the order doesn’t get filled by market-close today, then the order will expire and be cancelled.
+A custom date
If the order doesn’t get filled by market-close on the set date it will expire and be cancelled.
+Fill or Kill (FOK)
The order will only execute it the entire order size can be purchased. If it can’t, then the order will be withdrawn.
View all your shares and currency account balance from the Portfolio tab of the Upstream app.
Navigate to your portfolio and click on any of your positions to view more details.
You have the options to
+Sell |
Tap Sell to sell your shares in the same way as described above in “How do I sell securities?” |
+Stop Loss |
Select the drop-down menu at the top right and select “Stop Loss”. This creates a secret, off orderbook, order to offer to sell your securities if the share price falls to a specified Trigger price, the “stop-loss point”, with the Limit price being the lowest price you’re willing to accept below the trigger. The Limit price must be lower than the trigger and, depending on market conditions, no shares may be sold if the trigger is reached and there are insufficient buys to fulfil your order. Stop Loss orders are designed to limit an investor’s loss on a position when the market falls suddenly or perhaps when the investor isn’t using the app (e.g., while sleeping, or traveling etc.). |
+Take Profit |
Select the drop-down menu at the top right and select “Take Profit”. This creates a secret, off orderbook, order to offer to sell your securities if the share price rises to a specified Trigger price, the “take-profit point”, with the Limit price being the lowest price you’re willing to accept below the trigger. The Limit price must be lower than the trigger and, depending on market conditions, no shares may be sold if the trigger is reached and there are insufficient buys to fulfil your order. Take Profit orders are designed to lock-in an investor’s profit on a position when the market rises suddenly or perhaps when the investor isn’t using the app (e.g., while sleeping, or traveling etc.). Investors may risk not being able to sell the securities for an even higher price if the trend continues upward after reaching the initial trigger “take-profit point.” |
+Trailing Take Profit |
Select the drop-down menu at the top right and select “Take Profit”. Similar to “take-profit” but designed to create an order to remain open and continue to profit as long as the price is moving in the investor’s favor. The order closes the trade if the price starts falling by the specified Trailing Percentage or dollar amount. |
Tap Market
Tap on the security you’d like to watch
Tap the star to the right of the ticker symbol
Navigate back to the Market and tap Watchlist to view all favorited securities
To cancel an order:
Login to the app
Tap Orders
Tap on the order you’d like to cancel
Select Cancel and sign the transaction using your Signing Key
To view the technical details of your Upstream orders on the Upstream layer-2 rollup blockchain, you need to go to the Orders tab, tap the “All” sub-tab, select the order you wish to view and tap the link below “Order ID”, or where applicable, tap the link(s) below “Trade Reports”. This will open a webpage in the Upstream block explorer, Dora. Dora shows the Ethereum blockchain transaction hash, the mining status, the block height, timestamp, (anonymous) public-key addresses of the trading parties, trade value, network gas consumption, input data and other details. Note, Upstream operates on a public blockchain, so all order-data is available to the general public, but does not disclose or otherwise indicate any identifying details about your account. It only discloses your Public key, as is the norm for public, anonymous blockchains.
Candlestick charts are an efficient way to look at a lot of information about a stock's price at once. It shows how much the price moves up or down in a certain time period to help investors better understand price movement.
Upstream currently does not offer margin trading.
Upstream currently does not offer short selling.
Upstream does not solicit trades or advise Upstream users of the suitability of any trade, IPO, or other offering. Investors who trade through the Upstream platform make their own trading and investment decisions. Upstream does not endorse or recommend any securities bought or sold on the Upstream exchange. Upstream does not offer investment advice or recommendations of any kind. All services offered by Upstream are intended for self-directed clients who make their own investment decisions, without aid or assistance from Upstream. Company listings on Upstream are only suitable for investors who are familiar with and willing to accept the high risk associated with speculative investments, often in early and development stage companies. The securities are intended for investors who do not have a need for a liquid investment. There can be no assurance the valuation of any particular company’s securities is accurate or in agreement with the market or industry comparative valuations. Companies listed tend to be in an earlier stage of development and have not yet been fully tested in the public marketplace. Investing in those companies requires high risk tolerance, low liquidity concerns and long-term commitments. Investors must be able to afford to lose their entire investment. U.S. persons may not trade securities on Upstream.
For additional information on suitability, please review the Suitability FAQ section.
For traded securities there is a 1% trade fee charged should you buy or sell shares in the open market.
Dividends may be payments made by companies to its shareholders from the profits of their business. Upstream manages the distribution of U.S. Dollars dividends on behalf of Upstream issuers.
The ex‐dividend date, or record date, is the cut-off date established by a company in order to determine which shareholders are eligible to receive a dividend or distribution
Company listings on Upstream apps and/or websites are only suitable for investors who are familiar with and willing to accept the high risk associated with such investments and early-stage growth companies. U.S. persons may not trade securities on Upstream. Companies seeking crowdfunding or private placement investments tend to be in earlier stages of development and have not yet been fully tested in the public marketplace. Investing in these securities requires high risk tolerance, low liquidity concerns, and long-term commitments. Investors must be able to afford to lose their entire investment. In addition, there can be no assurance the valuation is accurate or in agreement with the market or industry valuations.
For high risk securities there may be no liquidity, limited liquidity and redemption fees may apply if redeemed before maturity as outlined in each offering prospectus.
Upstream encourages its Customers to invest carefully and to study information on companies available at a variety of websites.
For additional information on suitability, please review the Suitability FAQ section.
Congrats on wanting to include liquidity as part of your growth strategy! Visit our Get Listed page to learn more and begin the application process. We make the process as seamless as possible for you to list on the revolutionary exchange and trading app. We also make the process simple for investors to participate in your offering. For additional questions not answered on the Get Listed page, please contact the team at servicedesk@upstream.exchange.
Please navigate to the Get Listed page and fill out your email, name, and desired transaction. You will be sent the appropriate materials and listing application.
As you know, liquidity is tough today. International retail investors do not have the ability to directly purchase U.S., Canadian, and other listed securities without going through a cumbersome process. This may be limiting issuers’ ability to raise capital, increase liquidity and access new investors. The concept of directly accessing dual listed securities using just an app did not exist…until Upstream.
Traders simply download, complete light-touch KYC, and fund their account using U.S. dollars, credit card, debit card, PayPal, or USDC digital currency all from within the secure trading app. Upstream is designed to unlock liquidity, enhance price discovery, and truly globalize the opportunity to invest in exciting growth opportunities like yours.
Additionally, listing on Upstream comes with over $100,000 of additional IR value for your company from Upstream.
Upstream issuers’ digital coupons are awarded to all shareholders as a redeemable non-fungible token (Collectible), one per shareholder regardless of the number of shares owned as of the record date. The digital coupons are not securities and are issued as ERC-721 tokens, an Ethereum blockchain standard for representing ownership of Collectibles where each token has a unique identifier.
Our digital coupon strategy for Upstream issuers leverages our redeemable Collectible technology to drive shareholder engagement and additional issuer revenue potential. It allows shareholders to get firsthand experience with issuers’ products and opens the door for new customers as shareholders may decide to sell the digital coupon for US dollars on Upstream’s regulated market to non-shareholders.
Digital coupon Collectibles have no royalties, equity ownership, or dividends. Collectibles are for utility, collection, redemption or display purposes only.
Shareholders as of the announced record date can claim their digital coupon with the following steps:
Once verified, shareholders will find their digital coupon in their Upstream portfolio, typically within 48 hours, and may then sell the digital coupon on Upstream or redeem the digital coupon. If shares are held at a brokerage, you will receive a request for an account statement via email to verify that you’re a shareholder as of the set record date.
Supply the unique redemption code to the Issuer to fulfill the utility. Find your redemption code any time from the message center by opening the Upstream app, tapping the settings icon in the top right corner then Message Center.
Dual Listings:We’re inviting issuers listed on major stock exchanges to list and provide a digital-first investor base the ability to trade their shares using an app from anywhere in the world. Get started on our Get Listed page or email us at hello@upstream.exchange with other inquiries.
Visit the Get Listed Page to view more of the benefits or email us at hello@upstream.exchange with other inquiries.
We’re inviting issuers listed on major stock exchanges to list and provide an international investor base the ability to trade their shares using an app from anywhere in the world.
An Initial Public Offering (IPO) is the first sale of stock by a company to the public. If an IPO is successful, the shares of the company will usually begin publicly trading on a stock exchange like Upstream/MERJ, the London Stock Exchange, Toronto Stock Exchange etc. U.S. persons may not invest in IPOs on Upstream.
Typically in an IPO, the general public has to wait for the stock to begin trading on a national exchange in order to purchase shares. With other popular trading apps, you’re able to place a “Pre-IPO” order but you’re not participating in the IPO, you’re just entering your orders for when trading begins.
On Upstream, investors have the ability to order shares before the IPO closes and before trading begins.
Here’s where Upstream operates a little differently. Our goal is to provide as many people as possible with at least some IPO stock at the same price and time as Wall Street. This means every investor who wishes to participate before an IPO closes will be able to. For IPOs in high demand, you may not receive all the shares you ordered. If this happens, at the time the IPO closes, then you will be allocated shares on a pro-rata basis and all of your unspent funds will be unblocked. IPO allocations are not guaranteed and our goal is to level the playing field and distribute shares fairly across all interested public participants.
Upstream IPOs securities are registered, unrestricted securities free to trade on the Upstream app the next trading day following the IPO close. U.S. persons may not trade securities on Upstream.
Trades on the Upstream secondary market instantly settle. For IPOs, trades settle immediately upon IPO close. If you are the seller, then you may withdraw funds as soon as your trade is executed. Note, short selling of securities is not permitted on Upstream. Similarly, a buyer must have sufficient funds in their account to place a buy order. This ensures that the seller can be paid, in full, immediately upon trade execution.
A spinoff is a new company that's created when a parent company distributes shares in a subsidiary or business division to the parent company shareholders. All parent company shareholders as of a set record date (i.e., shares purchased and held 2 days or more prior to the record date) will be entitled to receive an equal proportion of shares in the spinoff company.
U.S. persons may claim spinoff securities on Upstream, however, U.S. persons may not deposit their claimed shares for secondary trading on Upstream. Please visit the Issuer’s investor page for more information. U.S. persons may not trade securities on Upstream.
Non-U.S. shareholders of the set record date can download Upstream and complete KYC identity verification ahead of the distribution date, please proceed to claim your shares on the Upstream app. After receiving your brokerage statements confirming your shareholding as of the set record date you may use the Upstream app to request your share distribution and verify your shareholding.
U.S. persons may not deposit, buy, sell, withdraw or claim spinoff securities on Upstream. Please visit the Issuer’s investor page for more information.
Once your KYC identification has been approved on Upstream, you’ll be able to request your share entitlement on the app.
Please note that spinoff share allocations to Upstream accounts will not begin until the distribution date.
If shareholders receive restricted shares, they may be eligible for removal of restrictions and traded on Upstream six months after the share distribution date, if certain requirements are met.
Visit the Get Listed Page to view more of the benefits or email us at hello@upstream.exchange with other inquiries.
A stock warrant gives the holder the right to purchase a company's stock at a specific price and at a specific date. A stock warrant is issued directly by the company concerned; when an investor exercises a stock warrant, the shares that fulfil the obligation are not received from another investor but directly from the company.
For the remainder of this document the description of Upstream Long Call Options is exactly the same as how Upstream Warrants operate.
An option is a leveraged financial instrument that derives its value from an underlying security. An option contract is an agreement between a buyer and a seller that gives the buyer the right, but no obligation, to buy or sell the underlying security at a specific price on or before a specific date. Most investors are familiar with stocks, and they are relatively straightforward: buy stock from a company, and hope to sell the shares at a higher price in the future. Options are more complex, but also give investors more flexibility and make it easier to capitalize on bullish, bearish, and neutral market conditions.
Option contracts consist of three main components that determine their premium, or cost: the underlying security's price, the option contract's strike price, and an expiration date.
Options trading enable investors to be more dynamic than buying and selling stocks. Traders typically use options to generate income, speculate on future price, and hedge existing positions in their portfolio.
Stocks and options can be combined to hedge positions or generate passive income.
One key difference is every options contract has an expiration date, which introduces a time component to every position. Options pricing is determined by multiple factors and is constantly changing based on market conditions and the underlying's price movement.
In general, speculating on rising prices is done by buying Call options, whereas betting on dropping prices is done by buying Put options. Investors who purchase options can purchase or sell a minimum of 100 shares of stock. However, if a trade doesn’t turn a profit, there is no requirement to exercise options. If an investor chooses not to exercise their options, the only money they will lose is the premium they paid to purchase the contracts. Consequently, trading options can be inexpensive to speculate on securities.
Option Writer: The option writer is obligated - if and when assigned an exercise - to perform according to the terms of the option. The option writer is sometimes referred to as the option seller. An option writer who has been assigned an exercise is known as an assigned writer.
Option Holder: The option holder is the person who buys the right conveyed by the option.
Strike Price: The strike price (which is sometimes called the "exercise price") is the price at which the option holder has the right either to purchase or to sell the underlying stock.
Expiration Date: This is the date on which the option expires. If an option has not been exercised prior to its expiration, it ceases to exist - that is, the option holder no longer has any rights, and the option no longer has any value. The expiration dates for the various options series are fixed by the Upstream options market. Upstream traders should learn the expiration date of each option they wish to buy or write.
Unit of Trading/Contract Size: The unit of trading (which is sometimes referred to as the contract size) of an option is the amount of the underlying stock that is subject to being purchased or sold upon the exercise of a single option contract. The unit of trading for options on Upstream equity securities is 100 shares. Thus, a delivery of XYZ 50 call will give its holder the right upon exercise to purchase 100 shares of XYZ at $50 per share. For example, if the option is trading at a premium of $4 per share, then the aggregate premium for a single option contract would be $400.
Delivery and Cash-Settled Exercise: On Upstream, there are two different methods to exercise an option: (i) the delivery option exercise, and (ii) the cash-settled option exercise. A delivery option gives its owner the right to receive delivery (if it is a call), or to make delivery (if it is a put), of the underlying stock when the option is exercised. A cash-settled option gives its holder the right to receive a cash payment based on the difference between a determined value of the underlying stock at the time the option is exercised and the fixed exercise price of the option. A cash-settled call conveys the right to receive a cash payment if (i) the determined value for the underlying stock at exercise - this value is known as the exercise settlement value - exceeds the exercise price of the option, and (ii) sufficient orderbook liquidity exists. A cash-settled put conveys the right to receive a cash payment if (i) the exercise settlement value is less than the exercise price of the option, and (ii) sufficient orderbook liquidity exists.
Premium: The premium is the price that the holder of an option pays and the writer of an option receives for the rights conveyed by the option. It is the price set by the holder and writer in an Upstream transaction. The premium does not constitute a "down-payment." It is simply and entirely a non-refundable payment in full - from the option holder to the option writer - for the rights conveyed by the option. The premium is not fixed by Upstream. Premiums are subject to continuous change in response to market and economic forces. The factors which may generally affect the pricing of an option include such variables as the current value of the underlying stock and the relationship between that value and the exercise price, the current values of related interests, the individual estimates of market participants of the future volatility of the underlying stock, the historical volatility of the underlying stock, the amount of time remaining until expiration, cash dividends payable on the underlying stock, current interest rates, the depth of the market for the option, the effect of supply and demand in the options market as well as in the markets for the underlying stock and for related interests. Traders should not assume that options premiums will necessarily conform or correlate with any theoretical options pricing formula, chart, last sale, or the prices of the underlying stock, related interests or other options at any particular time. The currency in which the premium is payable is called the premium currency. The premium currency for Upstream options is U.S. dollars.
Opening Transaction: This is a purchase or sale transaction by which a person establishes or increases a position as either the holder or the writer of an option.
Closing Transaction: This is a transaction in which, at some point prior to expiration, the option holder makes an offsetting sale of an identical option, or the option writer makes an offsetting purchase of an identical option. A closing transaction in an option reduces or cancels out an investor's previous position as the holder or the writer of that option.
Long and Short: The word long refers to a person's position as the holder of an option, and the word short refers to a person's position as the writer of an option.
Covered Call Writer: If the writer of a call option owns the amount of the underlying stock that is deliverable upon exercise of the call, they are said to be a covered call writer.
At The Money (ATM): This term means that the current market value of the underlying stock is the same as the exercise price of the option.
In The Money (ITM): A call option is said to be in the money if the current market value of the underlying stock is above the exercise price of the option. A put option is said to be in the money is the current market value of the underlying stock is below the exercise price of the option.
Out of The Money (OTM): If the exercise price of a call is above the current market value of the underlying stock, or if the exercise price of a put is below the current market value of the underlying stock, the call or put is said to be out of the money.
Intrinsic Value: The premium of an option typically consists of two components: intrinsic value and time value. The intrinsic value reflects the amount, if any, by which the option is in the money. An option that is out of the money would have an intrinsic value of zero.
Time Value: Time value is whatever the premium of the option is in addition to its intrinsic value. Time value is that part of the premium that reflects the time remaining before expiration. American-style options may be expected to trade for no less than its intrinsic value prior to its expiration.
American-Style Options: Upstream uses American-style options that allows holders to exercise the option rights at any time before and including the day of expiration. It contrasts with another type of option, called the European option, that only allows execution on the day of expiration. American-style options allows investors to capture profit as soon as the stock price moves favourably, and to take advantage of dividend announcements as well.
No Automatic Exercise at Expiry: Upstream will not automatically exercise in-the-money options at expiry. It is the sole responsibility of the options holder to exercise their options. Options can be exercised at any time until close of business on expiry date.
Upstream does not permit selling of naked options.
Upstream does not permit trading on margin.
Upstream options, when exercised, settle immediately.
A long call is a single-leg, risk-defined, bullish options strategy. Buying a call option is a levered alternative to buying shares of stock. A trader may purchase a Long Call from another trader, or purchase a Long Call in the form of a Warrant from the company that issues the underlying stock.
Long Call overviewA long call is purchased when the buyer believes the price of the underlying stock will increase by at least the cost of the premium on or before the expiration date. Further out-of-the-money strike prices will be less expensive but have a lower probability of success. The further out-of-the-money the strike price, the more bullish the sentiment for the outlook of the underlying stock.
How to set up a Long CallA long call position is initiated when a buyer purchases a call option contract. Calls are listed in an option chain and provide relevant information for every strike price and expiration available. The cost to enter the trade is called the premium. Market participants consider multiple factors to assess the value of an option’s premium, including the strike price relative to the stock price, time until expiration, and volatility.
Long Call payoffThe payoff for a long call is straightforward. The maximum risk is limited to the cost of the option (premium). The profit potential is unlimited. To break even on the trade at expiration, the stock price must exceed the strike price by the cost of the long call option (plus exchange fees).
Exiting a Long CallThere are multiple ways to exit a long call position.
To hedge a long call, an investor may purchase a put with the same strike price and expiration date, thereby creating a long straddle. If the underlying stock price falls below the strike price, the put will experience a gain in value and help offset the loss of the long call. However, this adds cost to the original trade and widens the break-even price.
A long put is a single-leg, risk-defined, bearish options strategy. Buying a put option is a levered alternative to short selling stock.
Long Put overviewShort selling stock is not available on Upstream as short selling has unlimited risk because the underlying stock has unlimited upside potential. Long put options give the buyer the right, but no obligation, to sell shares of the underlying stock at the strike price on or before expiration. Because options are levered investments, each contract is equivalent to selling 100 shares of stock. An advantage of using a long put option is that less capital is required to own one contract than the cost of selling 100 shares of stock, and downside risk is limited to the option contract’s cost.
Long Put market outlookA long put is purchased when the buyer believes the price of the underlying stock will decline by at least the cost of the premium on or before the expiration date. Further out-of-the-money strike prices will be less expensive but have a lower probability of success. The further out-of-the-money the strike price, the more bearish the sentiment for the outlook of the underlying stock.
How to set up a Long PutA long put position is initiated when a buyer purchases a put option contract. Puts are listed in an option chain and provide relevant information for every strike price and expiration available. The cost to enter the trade is called the premium. Market participants consider multiple factors to assess the value of an option’s premium, including the strike price relative to the stock price, time until expiration, and volatility. Typically, put options are more expensive than their call option counterparts. This pricing skew exists because investors are willing to pay a higher premium to protect against downside risk when hedging positions.
Long Put payoffThe payoff for a long put is straightforward. The maximum risk is limited to the cost of the option. The profit potential is unlimited until the underlying stock reaches $0. To break even on the trade at expiration, the stock price must be below the strike price by the cost of the long put option.
Exiting a Long PutThere are multiple ways to exit a long put position.
To hedge a long put, an investor may purchase a call with the same strike price and expiration date, thereby creating a long straddle. If the underlying stock price increases above the strike price, the call will experience a gain in value and help offset the loss of the long put. However, this adds cost to the original trade and widens the break-even price.
A covered call is an options strategy with undefined risk and limited profit potential that combines a long stock position with a short call option. Covered calls are primarily used by investors looking to generate income on long portfolio holdings while reducing the position’s cost basis. Most covered call option assignments do not occur until the last week of expiration. One exception that needs to be accounted for is dividend payments. If the underlying stock is about to pay a monthly or quarterly dividend, the short call is at greater risk of assignment if it is in-the-money. This is because the holder of the long call option may wish to exercise their right to buy shares of stock and collect the dividend.
Covered Call overviewCovered calls are a natural bridge between stock investing and options. Because options are leveraged, each contract represents 100 shares of stock, so a covered call requires ownership of at least 100 shares of the underlying stock.
Covered Call market outlookA covered call strategy is used if an investor is moderately bullish and plans to hold shares of stock in an asset for an extended length of time. The covered call will help generate income during the holding period and lowers the original position’s cost basis.
How to set up a Covered CallA covered call consists of selling a call against shares of long stock. Typically, covered calls are sold out-of-the-money above the current price of the underlying stock. Calls that are sold closer to the stock price will result in more credit received but have a higher probability of being in-the-money at expiration. Covered calls do not eliminate downside risk if the asset drops in price, but every covered call sold adds credit to the account, thereby reducing the overall cost of holding the long stock position.
Covered Call payoffSelling a covered call limits the profit potential and does not eliminate the downside risk. However, it does help to reduce the risk by the price of the premium received.
Entering a Covered CallA covered call requires ownership of at least 100 shares of stock. If the stock is already owned, a call option may be sold at a higher strike price than the current stock price.
Exiting a Covered CallThere are two scenarios for exiting a covered call at expiration, depending on where the stock price is relative to the strike price of the call option sold. If the stock price is below the strike price at expiration, the call option will expire worthless, and the option premium collected is the amount profited from the trade. At this point, a new covered call position may be initiated for a future expiration date. If the stock price is above the strike price of the short call option at expiration, the long stock is “called away” at the strike price. If the short call option is in-the-money at expiration, but the investor does not want to sell the position, the trade can be rolled out to a later expiration date by buying back the short call and selling a new contract.
Hedging a Covered CallCovered calls can be hedged by rolling down the short call option as price decreases. To roll down the option, repurchase the short call (for less money than it was sold) and resell a call option closer to the stock price. This will limit the upside potential but the credit received for the roll will help offset the downward movement of the stock. Another strategy to consider is to purchase a long put option somewhere below the short call option. Long put options give the holder the right to sell shares of stock at the strike price.
Synthetic Covered CallUpstream does not support synthetic covered calls (aka, a poor man’s covered call).
A short put is a single-leg, bullish options strategy with undefined risk and limited profit potential. Short puts are profitable if the underlying stock's price is above the strike price at expiration.
Short Put overviewSelling a short put option is a levered alternative to buying shares of stock. Selling single options is considered “naked” because there is no risk protection if the stock moves against the position. Because options are levered instruments, each short put contract is equivalent to holding 100 shares of stock. On Upstream, short put option positions are cash-secured, meaning the put option writer must have enough capital available in their account to cover the cost of 100 shares if stock is assigned.
Short Put market outlookA short put is sold when the seller believes the price of the underlying stock will be above the strike price on or before the expiration date and/or implied volatility will decrease. The closer the strike price is to the underlying’s price, the more credit will be received. Selling a put option can be used to enter a long position if the investor wishes to buy the underlying stock. Because selling options collects a premium, initiating a long position with a short put reduces the cost basis if the put is ultimately assigned to the option seller.
How to set up a Short PutA short put position is initiated when a seller writes a put option contract. Put options are listed in an options chain and provide relevant information for every strike price and expiration available. The credit received at trade entry is called the premium. Market participants consider multiple factors to assess the option premium's value, including the strike price relative to the stock price, time until expiration, and volatility.
Short Put payoffThe payoff for a short put represents the risk involved with selling naked options. Profit potential is limited to the amount of credit received when the put is sold. The risk is undefined until the stock reaches $0.
Entering a Short PutTo enter a short put position, a sell-to-open (STO) limit order is sent. Once a put option is sold, cash is credited to the trading account.
Exiting a Short PutThere are multiple ways to exit a short put position. Any time before expiration, a buy-to-close (BTC) order can be entered, and the contract will be purchased at the limit price. The premium paid will be debited from the account. If the contract is purchased for more premium than initially collected, a loss is realized. If the contract is purchased for less premium than initially collected, a profit is realized. The buyer of the long put contract can choose to exercise the option at any time, and the seller is obligated to buy 100 shares at the strike price. If the short put option is in-the-money (ITM) at expiration, the option may be assigned to the option seller by the option holder, at the option holders sole discretion. If the stock price is above the strike price at expiration, the option is out-of-the-money (OTM). The contract will expire worthless, and the seller will keep the entire premium initially collected.
Hedging a Short PutTo hedge a short put, an investor may sell a call with the same strike price and expiration date, thereby creating a short straddle. This will add additional credit and extend the break-even price above and below the centred strike price of the short straddle equal to the amount of premium collected. While this reduces cost basis, the risk is still undefined and potentially substantial.
About Options Strategies
Options enable investors to use many different strategies to achieve their desired financial goals. There are three primary reasons to trade options: to protect or “hedge” a position, to generate income, or to speculate on the future price movement of an asset. Options traders can purchase or sell different options contracts to tailor positions to their market expectations. Options strategies can benefit from directional moves or from stock prices staying within a defined range. Strategies vary significantly from single-leg options to more complex multi-leg positions. By way of example, two common options strategies are shown below, a Married Put and a Collar strategy. There is a huge variety of options strategies available to Upstream users and it is beyond the scope of this document to detail all available option strategies.
Married Puts StrategyA Married Puts Strategy involves purchasing an asset and then purchasing put options for the same number of shares. This approach gives you downside protection by allowing you the right to sell at the strike price.
Collar StrategyA collar strategy is a multi-leg options strategy that combines a long stock position, an out-of-the-money covered call, and an out-of-the-money protective put. The collar creates a risk-defined position with limited profit potential.
Collar Strategy overviewA collar strategy is a multi-leg options strategy combining a covered call and protective put. Selling the covered call will result in a credit that can be used to offset the cost of purchasing the protective put.
Collar market outlookCollar strategies are used by investors who hold long stock and want defined risk. The goal of the collar strategy is to fund the cost of the long put with the credit from the covered call. A collar strategy combines the downside protection of a protective put with the earning potential of a covered call. The strategy can be entered for a credit, debit, or cost-free, depending on the width of the collar’s strike prices.
How to set up a CollarThe collar strategy requires owning at least 100 shares of stock and combining the position with a covered call above the stock price and a protective put below the stock price. The compromise of limiting the upside profit potential is offset by the downside risk protection. The put and call options can be set up at any expiration date and strike price the investor chooses, but the call and put sides of the collar must have the same expiration date and number of contracts. The further from expiration the position is entered, the more money will be collected on the covered call option, and the more expensive the cost of the long put option. Similarly, the closer the options are to the stock price, the more money will be collected on the call and paid for the put. Collars may be costless or entered for a credit or debit, depending on the strike price of the covered call and long put options. Investors typically try to enter a collar at no cost or for a credit, but a small debit is sometimes paid. Because of the put-call parity in options pricing, a put option with a strike price that is equidistant from the stock as a call option will typically be more expensive. Therefore, if an investor wishes to enter a costless position, they would generally need to have a slight skew in strike prices relative to the underlying stock, where the strike price of the call option is closer to the underlying stock than the strike price of the put option.
Collar payoffThe collar strategy payoff has a defined maximum profit and loss. Shares of the underlying stock may be sold at the covered call strike price or the long put strike price if the option is in-the-money at expiration. If the stock is between the two levels at expiration, both the call and put options will expire worthless. The credit received for selling the call will remain but will be offset by the price of buying the put. Collars may be costless or entered for a credit or debit, depending on the strike price of the short call and long put options. Calls sold closer to the stock price will receive more credit and puts purchased closer to the stock price will be more expensive. Investors typically try to enter a collar at no cost or for a credit.
Entering a CollarA collar is built around stock ownership. The stock position must be owned before entering the covered call and long put. The collar is essentially a covered call position combined with a protective put. To initiate the collar strategy, a call is sold above the stock price and a put is purchased below the stock price. Both options will have the same amount of contracts and expiration dates. Collars may be costless or entered for a credit or debit, depending on the strike price of the short call and long put options. Calls sold closer to the stock price will receive more credit, and puts purchased closer to the stock price will be more expensive. Investors typically try to enter a collar for no cost or for a credit, but a small debit is sometimes paid.
Exiting a CollarThe collar is exited if either the covered call or long put is in-the-money at expiration. In this case, the options contract will be exercised, and the stock will be sold at the corresponding strike price. If neither option is in-the-money, both contracts will expire worthless, and the investor may choose to initiate a new collar strategy for a later expiration date.
Collectibles are media with unique, unchangeable digital IDs that represent ownership of a unique digital reward, merchandise, item, etc.
An Upstream Collectible meets the following criteria, and any additional criteria that may be laid down by a directive in the Clearing Agency or Securities Facility rules;
The Upstream Collectible Marketplace offers a secure one-stop-shop for creating and selling authenticated Collectibles to a global fan-investor community.
Phygital Collectibles
Link your physical products to their digital replicas. Authenticate products, create digital timestamps, and build new revenue potential online.
Airdrop Collectibles
Reward your fans with free, time sensitive collectibles to celebrate milestones, commemorate events, act as proof of attendance, or gift memorable keepsakes. Make claimable with a secret code.
Redeemable Collectibles
Redeem collectibles for physical items or experiences. Chain redeemable collectibles work together to drive sales, create meaningful user journeys, and enhance fan engagement with your digital-first audience.
Membership Collectibles
Grant access to online communities, exclusive events, and other perks. With blockchain-verified ownership, members can be rewarded with exclusive or time-sensitive perks determined by membership tier, activity, and more.
Sponsorship Collectibles
Raise sponsorships from fans by selling digital collectibles and rewarding sponsors with exclusive content, gifts, etc.
Donation Collectibles
Increase donations with thank you Collectibles to donors that act as a donor level badge, membership, or offer a small gift, all while bringing awareness to initiatives.
Ticket Collectibles
Bring a physical event into Web3 with ticket Collectibles for attendees to gain entry, receive additional perks, and continue engagement beyond an initial event.
Geofence Collectibles
Drive traffic digitally to drive traffic physically. With geofenced Collectibles, creators can drive foot traffic to specific locations or make rewards at events rare and claimable only by those in proximity.
Auction Collectibles
Auction one-of-one merchandise or Collectibles to the highest bidder.
Soulbound Collectibles
Create permanent markers or instill FOMO with Collectibles that remain with the original holders and can't be traded.
Interested brands or individuals can schedule an intro call using our BOOKING LINK or email us at hello@upstream.exchange.
Watch tutorial video on how to participate in a Collectible airdrop
Watch tutorial video on how to purchase a Collectible
A redeemable Collectible on Upstream enables buyers to redeem an item or experience while still being able to hold the underlying digital collectible. Upon redemption, the Collectible unlocking the experience is ‘burned’ and replaced with an evolved Collectible that can be held as a collector’s item for proof of redemption, proof of attendance, a commemorative keepsake, or even for further trading.
Some Collectibles are redeemable for an item or experience.
Before redeeming, you must’ve already successfully purchased or claimed the Collectible and have it in your Upstream portfolio. Now you’re ready to redeem your Collectible.
Supply this secret code to the Collectible creator to fulfill the utility offered by the Collectible. The Collectible creator will only fulfill the utility once per unique redemption code. You may find your unique redemption code anytime in your message center by navigating to the Home Screen on the Upstream app, tapping the settings icon, then Message Center.
There are three types of Collectible Transactions,
An Collectible Auction is the purchase and sale of a Collectible by means of the Upstream App through your Upstream Account.
Collectible Auctions conducted on Upstream may only be conducted by means of the Upstream App and by no other means.
Upstream only charges sellers a $1 Collectible auction fee, and only upon sale will sellers pay a 2% sales commission, constituting some of the lowest creator/seller fees in the Collectible space.
To participate in the Collectible Auction, as willing buyer, you must, through your Upstream Account, place a bid for the relevant Collectible.
You may not cancel your bid for as long as it is the highest bid in the Collectible Auction.
In placing a bid, you agree to purchase the Collectible at a purchase price that is not more than your bid.
The value of your bid will be blocked on your Upstream Account while your bid remains the highest bid during a live Collectible Auction. If you are outbid, then the block will be lifted.
At the close of a Collectible Auction, the highest bid will win, and a sale and purchase transaction will be concluded between the seller and the highest bidder in respect of the Collectible on the following terms:
You must have a credit balance of the Collectible creation fee, as shown in the Upstream Terms and Conditions, in order to create a new Collectible on the Upstream App. All new Collectibles created on Upstream will be placed up for auction once the creation is complete.
Using the Upstream App, tap the Investor tab at the bottom of the screen, then tap Collectibles, then tap Create. During the creation,
For details on how to become a verified creator, please reach us at hello@upstream.exchange.
Note, certain objectionable words, decided at Upstream’s sole discretion, will not be permitted to be created with a Collectible.
After the first Notarization step, you will be shown the second and final phase of the auction creation process when you may upload the Collectible media (can be any file type available on your device), then select the new ticker symbol, as generated by Upstream after phase 1, and tap Notarize.
That’s it, just let the Upstream auction house prepare the auction and you will be notified when your Collectible is live on the marketplace.
Note, certain objectionable media, decided at Upstream’s sole discretion, will be removed from the Collectible Marketplace.
Watch tutorial on how to create a Collectible tutorial
Yes, you can see the current best bid on your Collectible Auction in the Upstream App by tapping the Portfolio button at the bottom of the screen and tapping the Collectible ticker symbol.
As soon as your reserve price is bid by at least one person, then you are guaranteed to be paid at least that price when the auction closes. There is no upper limit on how much people can bid, it depends solely on the bidders.
Unsold Collectibles will be appear in the Upstream App’s Portfolio screen. You may tap on a Collectible and re-auction whenever you wish.
No, Collectible Auctions only close on the date that you stated when you created the auction.
Collectible Auctions can be browsed by tapping the Market button at the bottom of the Upstream App screen. Then, tap the label “Collectible” and a list of all active Collectible Auctions will be shown along with the current best bid or reserve price.
Simply tap the Collectible ticker to view the Collectible media. If you like what you see, tap Bid and enter the maximum price you are willing to pay.
Note, Upstream Collectible Auctions operate as a “second price auction” where you secretly enter your maximum bid and all other bidders bid to see if their maximum bid is higher than yours. If it’s not, then the auction closes and you pay the price that the last unsuccessful bidder attempted.
Enhance benefits and drive your community with actionable incentives that reward, retain and grow your loyal brand community. Add to your existing or new loyalty rewards program by adding unique digital rewards consumers can buy, claim, sell, or trade with each other to get their ideal benefits. Build an online trading community of brand ambassadors while gamifying your existing loyalty program and enable your consumers to earn even more benefits.
Upstream accelerate enables athletes to raise sponsorship from their email list or social media followers by selling collectibles
How it Works:
Upstream is proud to offer racers the opportunity to race in neutral by purchasing carbon removal units and linking them to a digital replica of a racecar on Upstream for a transparent and immutable record of sustainability.
How it Works:
Our website has the latest terms and conditions here: https://upstream.exchange/media/upstream-participation-agreement-202407.pdf
Upstream Collectibles adhere to the Ethereum ERC-721 standard.
If you find an objectionable Collectible image or video then you can contact servicedesk@upstream.exchange to request a review. If Upstream, at our sole discretion, finds the media objectionable then the Collectible auction will be withdrawn from public view.
If you feel that you have a legitimate copyright infringement claim on Collectible media being auctioned on Upstream, then you may email us at copyright@upstream.exchange and supply us with the identification of the allegedly infringing material that you are requesting be removed, and a description of where it is located on the Collectible Marketplace.
Our copyright agent will contact you for further information such as:
Collectible Transactions concluded through the Upstream App are unsolicited and auction and bid decisions made by you will be your own decisions and that no representatives of MERJ will offer any auction, bid or Collectible ownership advice.
You further understand that you must review your suitability and Collectible ownership objectives before placing an Collectible Auction or bidding on an Collectible Auction. You understand that Collectible purchases involve risk, that you may lose the entire price paid, and that the past performance of a Collectible, industry, sector, market or Collectible digital media does not guarantee future auction values.
An "Collectible Export" moves your tokens across chains from the Upstream Raneum Chain to the Ethereum Mainnet Chain. Please note that not all Issuers allow their Collectibles to be exported, and you should always check before committing ETH on Ethereum Mainnet to an export.
To export your Upstream Collectible, simply:
Please note: You must transfer this fee from your Upstream Wallet address. You can find this address in the Me screen of your Upstream App. If you have further questions on this, please contact the team at servicedesk@upstream.exchange.
Once you’ve exported your Collectible from the Upstream Raneum Chain to the Ethereum Mainnet Chain, you’ll need to connect your Upstream Keystore to your MetaMask software to access the Collectible.
To do this:
You will now have your Upstream Wallet connected to MetaMask.
At Upstream’s sole discretion, objectionable material supplied as part of an Collectible Auction that may be directly or indirectly construed as being in connection with text, images, videos, or other forms of media so as to:
Our copyright agent will contact you for further information such as:
US & International Equities
Athlete / Celebrity Ventures
Crowdfunded Securities
Upstream is a revolutionary market and trading app giving companies access to a global investor base who can trade your company’s shares with digital currency and USD. U.S. persons may not trade securities on Upstream.
Upstream is a revolutionary market and trading app giving issuers access to a global, digital-first investor base.
Race Without A Trace Collectibles
Race Without A Trace (RWAT) is an Upstream sustainability initiative that allows motor racing drivers, both professional and amateur, to purchase carbon removal units commensurate with their CO2 emissions per event.
Upstream carbon removal purchases are facilitated by Frontier*, an advance market commitment to buy $1B+ of permanent carbon removal by 2030. Frontier’s in-house team of science and commercial experts, supported by 60+ external technical reviewers, sources and evaluates the most promising carbon removal technologies.
Carbon removal is critical to counteract climate change. To prevent the most catastrophic effects of climate change, the world will likely need to both reduce new CO2 emissions and remove prior CO2 emissions from the atmosphere.
RWAT allows drivers to create a Collectible for one or more of their cars. Once created, RWAT allows drivers to enter the number of litres of petroleum consumed per event, per car.
Each litre of petroleum emits approximately 2.35 kilograms of carbon dioxide (CO2). Upstream users may purchase that number of kilograms worth of carbon removal units from Frontier. Upstream issues a permanent, immutable, purchase-receipt using our Collectibles technology.
Each RWAT car has a unique QR code that identifies the vehicle and lists all of the carbon removal units purchased for this vehicles racing history.
*Frontier offtakes are a contractual agreement to purchase tons of carbon removal, at a future date and at a certain price, once verified by Frontier. Frontier mitigates carbon removal delivery delays and failures. However, in case of a delay, Upstream will wait with Frontier for the tons to be delivered. And, in case of a delivery failure, Upstream receives a full refund from Frontier which will be used to purchase an equivalent offtake.
No. Upstream does not solicit customers to do transactions on its platform. Any trade you decide to do must be based on your own investing judgement. U.S. persons may not trade securities on Upstream.
Before making any investment in an Upstream-listed security, an investor should consider, for each investment, their investment objectives, and characteristics, liquidity risks and potential benefits, volatility and likely performance in a variety of market and economic conditions pertinent to whatever security they are considering investing in.
Upstream is a MERJ Exchange Market. MERJ is an affiliate of the World Federation of Exchanges “WFE.” The WFE is the global industry group for exchanges and clearing houses (CCPs) around the world. The WFE represents over 250 market-infrastructure operators ranging from the largest financial centers to frontier markets.
Founded in 1961, the Federation was set up to contribute to ‘’the development, support and promotion of organized and regulated securities markets in order to meet the needs of the world’s capital markets in the best interests of their users.’’ This remains the WFE mandate today.
FinTruth, LLC dba Digital Group t/k/a Digital Trust is our Cash Custodian, a registered Trust Company. Digital Trust is located at 7336 W. Post Rd. Suite 111, Las Vegas NV 89113 USA Phone 866.757.7970
No, there is no Payment For Order Flow on Upstream.
The Upstream "Pay Up" feature can be found under the Investor tab, and it allows one Upstream user (payee) to request a payment from one or more Upstream users (payers), and for the payers to transfer the amount directly from their Upstream balance.
The process is delivered in two phases:
The "Pay Me" QR code is then scanned with a smartphone camera to bring the payer into the Upstream app "I Pay" section. This is where the payer transfers payment by simply confirming the amount to be paid, and signing an Upstream app transaction that is submitted to the blockchain for settlement.
Note, "Pay Me" requests do not specify who can pay a payee, anyone can pay a payee as long as they have sufficient funds in their Upstream app.
Blog:
https://medium.com/@upstreamexchange
All IPOs on Upstream are offered pursuant to a prospectus. A prospectus contains the complete details of the investment offering to the public. A prospectus includes some of the following information:
A brief summary of the company’s background and financial information
The name of the company issuing the stock
The number of shares
Type of securities being offered
Names of the company’s principals
Names of the banks or financial companies performing the underwriting
In addition, the prospectus informs investors of the risks involved with investing in the security or fund. Risks are typically disclosed early in the prospectus and described in more detail later. The age of the company, management experience, management's involvement in the business, and capitalization of the stock issuer are also described. The prospectus information also guards the issuing company against claims that pertinent information was not fully disclosed. We encourage you to read the prospectus in entirely before investing.
Preferred stockholders have greater claim to the company’s assets and earnings than common stockholders. Also, the preferred stockholders’ dividends are generally different and greater than the common shareholders.
A PIPE, also known as a Private Investment in Public Equity, is a way for companies to raise capital in the public markets in timely and most cost‐efficient manner. A private placement is an offering of securities that are not registered with the FSA. A secondary offering is the issuance of shares from a company that has already done its initial public offering (IPO).
Suitability is the determination that a particular investment strategy meets the objectives and means of an investor. U.S. persons may not trade securities on Upstream. It goes beyond just the financial resources of an investor to participate as an accredited investor in, for example, a private placement, but also encompasses the appropriate knowledge and understanding of risk. Investing in the stock market is speculative and investors should understand the risks associated with the investment and what is suitable for their investment objectives.
A Registration Statement is a set of documents that discloses important financial information regarding the registration of securities, including a prospectus, which is filed the Upstream regulators so the shares can be sold under certain conditions on Upstream.
Upstream is open to investors of all levels, enabling supporters to get in early on the businesses they love. U.S. persons may not trade securities on Upstream.
An unaccredited investor represents anyone who is not deemed “accredited”. The high-growth-stage for many issuers occurs while they remain private, and these shares have historically been reserved for the ultra-wealthy.
Upstream is a MERJ marketplace that is located in and the Republic of Seychelles and overseen and regulated by the Seychelles Financial Services Authority (“FSA”) which is the securities and other non-banking financial services regulator in the Republic of Seychelles. The Seychelles FSA is also the primary regulator for anti-money laundering compliance and works closely with the FIU to implement and ensure adherence to OECD Financial Action Task Force (FATF) recommendations. Upstream cash deposits are held in the United States.
Please browse our Support Center for common questions. If you have additional questions about Upstream, please reach us at hello@upstream.exchange. For any support related questions, please reach us at servicedesk@upstream.exchange.
Please browse our Support Center for common questions. If you have additional questions, please reach us at servicedesk@upstream.exchange.
Upstream believes you should be paid for your attention. Our revolutionary advertising service gives you, the user, 100% of the revenue from its privacy-respecting ads. As an Upstream user, you can choose to receive push notifications with curated ads for securities or Collectibles. You have the option to reject the ad, and not be paid, or tap the ad to engage and be paid for your time.
Upstream’s Web3 advertising service was founded on a decentralized concept which works to give control back to the individual. From the beginning of the internet boom, companies began collecting all types of consumer behavior data. As the internet became part of our everyday lives, consumers became more willing to silently share information in order to receive access to online communities and markets, and digital marketing erupted into a sea of behavior-targeted ads and even more behavior-data collection and so on.
Unfortunately, the desire for these valuable pools of people’s data stored by tech giants and brands has also created honeypots for hackers. Not only were individuals being forced to entrust brands with sensitive, personally identifiable data, they weren’t getting any payment or reward for their contribution to the multi-billion-dollar industry that wouldn’t exist without their data or attention.
On Upstream, we take an entirely different, decentralized approach. As an Upstream Web3 user, you are only identified by your anonymous blockchain wallet with the option to receive curated Upstream ads and are paid for any attention given to securities and Collectible advertisements. No personal data is shared with advertisers on this platform. Ever.
To opt-in to the advertising service, open the Investor screen then tap Advertising, Opt-In to Advertising. From there, you’ll be asked a few questions:
To opt-in to the advertising service, open the Investor screen then tap Advertising, Opt-Out of Advertising and tap the Opt-Out button. Follow-the on-screen prompt to complete.
When you are ready to move your Advertising Rewards to your main balance, simply open the Investor screen then tap Advertising then Claim Rewards. Tap the Claim button to confirm and your rewards balance will be moved to your main account balance.