Easy and Innovative
Pricing

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Easy and Fair Pricing

TRADE COMMISSION NOTES
NYSE, Nasdaq, AMEX Stock and ETF
(executed at $1.00 or above per share)		 $0 Commission Per Trade

$100 Minimum account balance.
Day+Ext add $0.0050 per share
(DAY+EXT required for pre and post market)

$100 minimum account balance. $10.00 monthly maintenance for non-U.S. accounts. This fee does not apply to U.S. accounts.

$0 comm applies to online and Elite platforms. See below for DasTrader commissions
All other U.S. Stock Trades
(10,000 or less shares per trade)		 $12 Commission Per Trade Additional $0.0007 per share charge applies to shares over 10,000. OTC stock purchases permitted only on shares above $5. Sells of INVU at 2.5% of principal. $100 minimum cash balance required at all times for OTC stocks
Option Trades $0.40 per contract

Max 4 legs per trade. Exercise and Assignment $5

All rates apply to trades on the online platform and ChoiceTrade Elite. All Regulatory, Exchange, OCC and cash settled option surcharges, if applicable, are extra.  Please contact us for details.
DasTrader commission: $0.003 per share up to 1,000,000 shares per month. $0.001 per share above 1,000,000 shares per month. Execution venue and regulatory fees additional. Monthly share volume must exceed 100,000.

Closed end mutual funds that trade on an exchange are subject to the same commissions as stocks.  We do not accept orders in open ended mutual funds, (typically identified by a five-letter symbol)

Our retail commission schedule applies only to our online and ChoiceTrade Elite platforms. It does not apply to foreign finder agreements, accounts introduced by investment advisers, other special agreements, or third-party investment programs.

There is a list of cash settled options including SPX, OEX, RUT and VIX, for which ChoiceTrade charges a surcharge of $0.75 per contract in addition to the regular commission.  This surcharge does not apply for options on ETFs such as QQQ or SPY.

Options involve risk and are not suitable for all investors.  Prior to buying or selling an option, please read Characteristics & Risks of Standardized Options. A copy of this document can also be obtained by contacting us at [email protected].

Margin

Our margin rate is Fed Funds plus 6 points. If you have a large margin debit in a well-diversified account, you may be eligible for a lower margin rate. Please contact us at [email protected]. All margin accounts are subject to a $2,000 minimum equity requirement. Please click here to read our Risk Disclosure for important information regarding daytrading rules. Please see the terms of ChoiceTrade's Margin and Options agreements.

POSITION INITIAL MARGIN MAINTENANCE MARGIN
Long Stock 1. 50% of the purchase price of marginable securities
2. 100% of the purchase price of non-marginable securities

$2000 minimum margin account equity for all margin transactions

$100 minimum cash balance required for Bulletin Board and OTC Market Stocks
 1. 30% of the current market value of the long securities positions in marginable securities.
2. 100% of the current market value of the long securities positions in non-marginable securities;

See Special Notes below
Short Stock The greater of:
1. 50% of the sale price of marginable securities; or
2. $5.00 per share

$2000 minimum margin account equity for all margin transactions		 1. For marginable securities priced $2.50/share and under: $2.50/share
2. For marginable securities priced $2.51 to $5.00 per share: 100%.
3. For marginable securities priced $5.01 and above: greater of 35% or $5.00 per share.

See Special Notes below
Long Calls or Puts 100% of the cost of the options. 100% of the current market value of options.
Short Uncovered Calls The greater of:
1. 100% of the option proceeds plus 30% of the underlying stock less any amount the option is out-of-the-money; or
2. 100% of the option proceeds plus 15% of the underlying stock
$100,000 minimum margin account equity		 The greater of:
1. The current marked-to-market value of the option plus 30% of the underlying stock less any amount the option is out-of-the-money; or
2. The current marked-to-market value of the option plus 15% of the underlying stock
Short Puts The greater of:
1. 100% of the option proceeds plus 30% of the underlying stock less any amount the option is out-of-the-money; or
2. 100% of the option proceeds plus 15% of the strike price.

$100,000 minimum margin account equity		 The greater of:
1. The current marked-to-market value of the option plus 30% of the underlying stock less any amount the option is out-of-the-money; or
2. The current marked-to-market value of the option plus 15% of the strike price
Short Covered Calls None required on short call. None required on short call.
Debit Spread 100% of the net debit 100% of the current market value of the position.
Credit Spread
Limit Orders		 Value of the difference between the strike prices less the credit to be received

$2,000 minimum margin account equity		 The lesser of:
1. Value of the difference between the strike prices of the vertical or;
2. The maintenance margin requirement of the short call or put
Long Butterflies/ Condors 100% of cost of butterfly or condor. 100% of current market value of butterfly or condor.
Short Butterflies/ Condors Initial margin requirement of the short vertical of the butterfly or condor. Maintenance margin requirement of the short vertical of the butterfly or condor.
Long Straddles/ Strangles 100% of the cost of the straddle or strangle. 100% of the current market value of the straddle or strangle.
Short Straddles/ Strangles The initial margin requirement for the short put or short call, whichever is greater, plus the premium of the other option;

$100,000 minimum margin account equity		 The maintenance margin requirement for the short put or short call, whichever is greater, plus the premium of the other option;
Long Call
or Put Calendar Spreads		 100% of the cost of the calendar spread. 100% of the current market value of the calendar spread.
Short Call
or Put Calendar Spreads		 Initial margin requirement of short call or put spread;
$2,000 minimum margin account equity		 Maintenance margin requirement of short call or put spread;
Special Notes

Concentration:
No Position may exceed 180% of account equity.

Volatile Stock Requirement:
Some stocks deemed to be volatile may be held at a higher requirement.

New Issues:
Generally, newly issued stocks have a 100% initial and maintenance requirement for the first 30 days of trading

Leveraged ETFs:
Minimum cash requirement for long positions:
2X ETF (200% Leveraged) = 60%
3X ETF (300% Leveraged) = 90%
If price is under $2.50, requirement is 100%

Minimum cash requirement for short positions:
2X ETF (200% Leveraged) = 60%
3X ETF (300% Leveraged) = 90%
No shorting under $5.00

Fees

All brokers have them, but we keep them as low as possible.

   
Incoming Wire Fee
(Domestic and Foreign)		 $0
Outgoing Wire Fee
(Domestic)		 $35
Outgoing Wire Fee
(Foreign)		 $60
Outgoing ACH Fee
(Domestic only - limit 3/month)		 $5
   
Broker-Assist Surcharge $30 per trade
Non-U.S. Account Monthly Account Maintenance Fee $10
   
Incoming ACAT Transfer $0
Outgoing ACAT Transfer $100 ($35 if rejected by receiving broker)
Partial ACAT Transfer $35
   
Monthly Paper Statement $10
Archived Statement Fee $10
Electronic Statement
(if elected in lieu of paper)		 $0
Paper Confirmation $1 / trade*
Electronic Confirmation
(if elected in lieu of paper)		 $0
   
Individual Foreign Account Setup Fee (one-time only) $25
Entity Foreign Account Setup Fee (one-time only) $100
   
Forced Margin/Other Sellout $60
relevant fees still apply
Mandatory Corporate Action $75
Voluntary Corporate Action $100
Accounts that close without trading $25
Account Reactivation $25
Inactivity Fee
(Individual or Joint Accounts)		 $50 Quarterly
Fee is waived if 5 or more trades are performed
within the calendar quarter. Fractional share trades do not count.
Inactivity Fee
(Entity Accounts)		 $60 Monthly
Fee is waived if 5 or more trades are performed within the month. Fractional share trades do not count.
Returned Mail $20
Returned Funding (Wires, ACH's, etc.) $40
Foreign Entity Annual Review Fee $200
Worthless Security Write-off Fee $25 per stock
Deposit, Delivery, Movement of Securities 
(and DTC-Ineligible and Related Fees)		 As determined
NSCC Illiquid Charges, if any, on thinly traded penny stocks As determined
Sub penny OTC stocks with little or no volume are more likely to be susceptible to this fee.
Hard to Borrow Fee As determined
OTC Stock Carrying Fee $100 per stock monthly†
Applies to OTC stock positions of 100,000 shares or more.

$20 per stock monthly†
Applies to OTC stock positions of less than 100,000 shares.
† $60 surcharge per issue non-transferable for more than six years.

*If you receive at least one paper confirmation in any given month, there will be a minimum monthly fee of $5.00 assessed for confirmations.

PLEASE NOTE THAT IF YOU OPT FOR ELECTRONIC DELIVERY OF THESE DOCUMENTS INSTEAD OF PAPER, YOU WILL NOT INCUR ANY OF THESE CHARGES.