Clearing Fees
Stocks | All stock trades incur a clearing fee of $0.0008 per share |
Options | All options trades incur a clearing fee of $0.10 per contract |
REGULATORY FEES
* SEC, FINRA, TAF, and any additional stock and options venue exchange fees are debited to customer trades in addition to applicable rates.
* OCC/ORF, CBOE Proprietary Exchange Fees, and any applicable options venue fees are debited to customer trades in addition to any applicable rates.
Fee Type | Multiplier |
|---|---|
SEC Sec. 31 Fee (Stocks) | $0.000008 * value of aggregate sales rounded to the nearest penny |
FINRA TAF Fees (Stocks) | $0.000145 Multiply this amount by the number of shares sold, $7.27 Maximum. Fee applies to SELLS only. |
Finra TAF Fee (Options) | $0.00244 per contract for each sale of an option. Fee applies to SELLS Only. |
Options Regulatory Fee | $0.02905 per U.S exchange listed option contract. Fee applies to BUYS and SELLS. |
Options Clearing Corp | Options Clearing Corporation |
EXCHANGE FEES
STOCKS | RATES |
|---|---|
AUTO | No additional charge* |
ARCA | $0.003 per share |
BATS | $0.003 per share |
NSDQ | $0.003 per share |
Market Center Routing Fees (Stocks) | *Customer stock orders routed to AUTO are billed at the commission rate with no additional routing fees. Customers directly routing orders to BATS, ARCA, NSDQ Exchanges during pre-market trading hours, regular market hours, and after regular market hours, are billed .003 per share. |
CBOE (Options) | CBOE PROPRIETARY EXCHANGE FEES CBOE charges customers additional fees to trade products that are solely traded on their exchange. Proprietary Index Option fees are assessed on orders on a per contract basis. Proprietary Index Options fees are in addition to clearing and regulatory fees that apply to all opening and closing orders in CBOE proprietary products. For a list of applicable CBOE ETF, ETN, EQUITY, and VENUE FEES: Go Here |
$SPX | +.65 cents per contract |
$RUT | +.18 cents per contract |
$NDX | +.18 cents per contract |
$OEX | +.40 cents per contract |
**Routing fees are subject to change without prior notice. If necessary, we reserve the right to debit your account for any venue, routing, or exchange fees based on vendor changes in routing rates. We reserve the right to mark up or adjust any routing fees at our sole discretion. Clients trading on a per trade or per share rate plan is not eligible to receive rebates unless agreed to in writing by management. There may be other routes available that are not listed here, which may charge a fee. You should always call and check the fee on any route before using it. ORF and OCC Fees are assessed on all options trades and exchange fees are listed on the statement under transaction fees and additional fees.
Low Priced Securities
$.00275 per share with 5% notional value max.
Rule 606 Disclosure
The Firm, in its efforts to seek best execution, routes client orders to national securities exchanges, alternative trading systems (ATS’s), including electronic communications networks (ATS) and other market centers. Certain market centers offer credits (deemed payment for order flow) for orders that provide liquidity and may charge access fees for orders that take liquidity. In some cases, the credits offered by a market center may exceed the charges assessed, such that a market center may make a payment in relation to orders directed to such market center. In addition we route orders to broker-dealers who are market makers in securities
Margin Rates and Borrowing
If you need leverage, we can offer discounts on margin interest rates based on your margin debit balance. Margin interest is charged on a tiered rate structure. Margin interest rates are calculated based on the average daily margin balance and assessed monthly.
**Margin interest rates are subject to change at the sole discretion of the Firm and without prior notice.
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
MARGIN DISCLOSURE STATEMENT: FINRA Rule 2264
We are furnishing this document to you to provide some basic facts about purchasing securities on margin, and to alert you to the risks involved with trading securities in a margin account.
Before trading stocks in a margin account, you should carefully review the margin agreement provided by your broker. Consult your broker regarding any questions or concerns you may have with your margin accounts.
When you purchase securities, you may pay for the securities in full or you may borrow part of the purchase price from your brokerage firm. If you choose to borrow funds from your firm, you will open a margin account with the firm. The securities purchased are the firm’s collateral for the loan to you. If the securities in your account decline in value, so do the value of the collateral supporting your loan, and as a result, the firm can take action, such as issue a margin call and/or sell securities in your account, in order to maintain the required equity in the account.
It is important that you fully understand the risks involved in trading securities on margin.
These risks include the following:
• You can lose more funds than you deposit in the margin account – A decline in the value of securities that are purchased on margin may require you to provide additional funds to the firm that has made the loan to avoid the forced sale of those securities or other securities in your account.
• The firm can force the sale of securities in your account – If the equity in your account falls below the maintenance margin requirements under the law, or the firm’s higher “house” requirements, the firm can sell the securities in your account to cover the margin deficiency. You also will be responsible for any shortfall in the account after such a sale.
• The firm can sell your securities without contacting you – Some investors mistakenly believe that a firm must contact them for a margin call to be valid and that the firm cannot liquidate securities in their accounts to meet the call unless the firm has contacted them first. This is not the case. Most firms will attempt to notify their customers of margin calls, but they are not required to do so. However, even if a firm has contacted a customer and provided a specific date by which the customer can meet a margin call, the firm can still take necessary steps to protect its financial interest, including immediately selling the securities without notice to the customer.
• You are not entitled to choose which security in your margin account is liquidated or sold to meet a margin call – Because the securities are collateral for the margin loan, the firm has the right to decide which security to sell in order to protect its interests.
• The firm may increase its “house” maintenance margin requirement at any time and is not required to provide advanced written notice – These changes in firm policy often take effect immediately and may result in the issuance of a maintenance margin call. Your failure to satisfy the call may cause the firm to liquidate or sell securities in your account.
• You are not entitled to an extension of time on a margin call – While an extension of time to meet margin requirements may be available to customers under certain conditions, a customer does not have a right to the extension.
• The IRS requires Broker-Dealers to treat dividend payments on loaned securities positions as in-lieu dividends for 1099 tax reporting purposes – Taxation of substitute dividend payments may be greater than ordinary on qualified dividends.