AutoShares Division of Tradepro Securities, Inc
Client Relationship Summary
August 8, 2022
TradePro Securities Inc. is registered with the Securities and Exchange Commission (“SEC”) as a broker-dealer. Brokerage and investment advisory services and fees differ, and it is important for you to understand the differences. This Client Relationship Summary provides details about our brokerage services, fees, and other important information.
Free and simple tools are available for investors to research firms and financial professionals at Investor.gov/CRS. Here, you can also find educational materials about broker-dealers, investment advisers, and investing.
TradePro Securities Inc. is a traditional broker-dealer providing brokerage services to retail and institutional clients. Brokerage services unlike advisory services are used by clients that have established their objectives and have determined their investment plans. Advisory firms, unlike broker-dealers, specialize in helping clients determine their goals and objectives and establish investment plans and portfolios.
Clients should carefully consider their needs and goals and may want to consider investment advisors or certified financial planners when establishing goals and portfolio selection.
The Firm’s traditional clients are high net worth and experienced investors. Our clients maintain portfolios comprising of equity, fixed income and mutual fund positions and are long-term investors. The Firm does not provide recommendations. Our representatives are fully licensed and have over 30 years in relevant experience, providing clients with trading assistance and researching client questions on investment selection, presenting clients with potential investment options to choose from. All investment decisions are ultimately made by the client.
Our supervisory reviews include the following to ensure that our client’s best interests are monitored and protected:
The Firm monitors the daily trading activities of our clients and reviews the activity for inappropriate investment selection as well as any unusual trading activity.
The Firm does not permit discretionary accounts, and all clients make the ultimate decisions regarding the purchase or sale of any security.
The Firm offers no proprietary investment products and actively researches the best product our client is interested in at the lowest cost available.
The Firm does not offer sales incentives or promotions.
What fees will I pay?
The Firm does not make recommendations to retail investors, any questions or concerns regarding your account should be emailed to [email protected]
Ask your financial professional these questions to learn more:
Given my financial situation, should I choose a brokerage service? Why or why not?
How will you choose investments to recommend to me?
What is your relevant experience, including your licenses, education, and other qualifications? What do these qualifications mean?
Conversation Starter –
Who is my primary contact person?
Is he or she a representative of an investment adviser or broker-dealer?
Who can I talk to if I have concerns about how this person is treating me?
Our commissions charged range from zero commissions for self-directed electronic trading, to 2% plus, for more sophisticated products. Commissions are charged at the time a trade is consummated. Commissions and fees on alternative investments, investment banking, and corporate service activities are determined on a case-by-case basis and directly negotiated with the client.
The Firm requires no account opening charges, no minimum account size, no monthly minimums.
You may pay fees and costs whether you make or lose money on your investments. Fees and costs will reduce any amount of money you make on your investments over time. Please make sure you understand what fees and costs you are paying.
Conversation Starter –
Help me understand how these fees and costs might affect my investments. If I give you $10,000 to invest, how much will go to fees and costs, and how much will be invested for me?
What are your legal obligations to me when providing recommendations?
How else does your firm make money and what conflicts of interest do you have?
We do not provide recommendations or solicit trades; we simply assist our clients with trading and provide potential investment alternatives when requested. The Firm policy of no solicitation, no proprietary investment products, no sales incentives or promotions helps eliminate potential conflicts of interest and ensure that a client’s best interests come first.
The Firm may receive payment for order flow or other compensation related to your orders. The Firm ensures that the client receives the best possible execution price given their objectives without taking into considerations these payments.
Clients can be assigned a contact person upon opening an account. As noted earlier all our representatives are broker dealer employees and do not act as investment advisors.
For further information concerning potential conflicts of interest or any concerns about a representative of the Firm, please contact Claudette Gay, director of compliance at 305-446-4800.
Do you or your financial professionals have legal or disciplinary history?
You can visit Investor.gov/CRS for a free and simple search tool to research our firm and financial professionals’ regulatory history.
For additional information about TradePro Securities Inc.,or to request a copy of this relationship summary please contact the Firm at [email protected]. You may also call 305-446-4800 to request up-to-date information or a copy of this relationship summary.
For current pricing and rates visit https://autoshares.com/pricing
Account Related Fees
Fee Schedule Effective Aug 1, 2023*
|Account Access and Market Data Fee||$10 per month (per account)|
|DK Items||$20.00 per item|
|DK Items on||$25 per item plus interest (FFR+5%)|
|Domestic Voluntary||$50 per cusip per account|
|DRS Transaction||$75 per security|
|DTC||$2 per security|
|DWAC||$75 per event|
|DWAC/DRS Reject||$125 per security|
|Electronic Delivery of||No charge|
|Escheatment Processing||$75.00 per account|
|In-Bound ACATSs||No charge|
|Out-bound ACATs||$75 per ACAT|
|In-coming Wire Fees||No charge|
|Involuntary Reorgs||$25 per corporate action or reorg (includes forward and reverse splits)|
|Mandatory Corporate Actions|
|Low Priced Securities||$0.00275/shr with 5% notional trade value max.|
|Margin Extensions||$25 per event|
|Margin Sell out Fee||$25 per ticket|
|Margin Rates**||< $25,000 – FFR+700 bps|
|$25,001 – $100,000 –||FFR+600 bps|
|$100,001 – $250,000||FFR+500 bps|
|$250,001 – $1 million||FFR+400 bps|
|$1 million – $5 million||FFR+300 bps|
|$5 million and above||FFR+200 bps|
|Non-transferable stock held||$10 per month per stock|
|NSCC Illiquidity Fee||$250 per trade plus 15% interest/annum on NSCC charge|
|Option Exercise/Assignment||$5 per symbol per account|
|Out-going Wire Fees – Domestic||$25 per wire|
|Out-going Wire Fees – International||$50 per wire|
|Overnight mail||as incurred pass thru|
|Paper check Draft (USD)||$5 per check|
|Stop payments on Issued Checks||$30 per check|
|Check Copies||$15 each|
|Returned Checks/ACH Wires||$30 per transaction|
|Recalls including Amendments|
|ACH Notice of Correction||$5 per notice|
|Confirmations||$2 per confirm|
|Statements||$5 per statement|
|Paper Prospectus Mailing||$2.50 per mailing|
|TOD Account Transfer Fee||$200 per transfer|
|Postage for Paper confirms||$2 per daily confirm|
|Postage for Paper statements,||$5 per item|
|Reg 144 Sales||Fees will vary. Need to confirm in advance|
|Reorg Physical Processing Fee||$125 plus transfer agent fees|
|Reorg Wire (UDS)||$20 per item|
|Reorg Wire (International)||$30 per item|
|Retirement Accounts||$30 setup fee|
|$40 annual maintenance fee|
|$60 termination fee|
|Setup, Annual Maintenance, and Termination Fees for IRAs|
|Traditional, Roth, SEP IRAs|
|Returned Mail||$2 per item|
|Short Buy-in Fee||$25 per ticket|
|Stock Borrow Fee||Fee set by market – pass thru as incurred|
|Trade Corrections||$10 per item|
|***ALL FEES ARE SUBJECT TO CHANGE WITHOUT NOTICE|