TRADING COMMISSIONS AND FEES
U.S. Listed and OTC Stocks - no charge per trade.
Non DTC-eligible securities
Some stocks can be subject to settlement fees if they are non-DTC-eligible securities. The Depository Trust Company (DTC) provides clearing, settlement and information services for certain securities. Certain securities are not DTC-eligible or have had their eligibility revoked. As a result, the settlement of these physical positions can carry significant pass-through charges for our clearing firm, Apex Clearing Corp, including execution fees, DTC fees, deposit fees, New York window fees, and transfer agent fees. These fees, which can vary and may be substantial, increase the cost that Apex Clearing Corp passes through for clearing and execution.
Customers who trade penny stocks and non-DTC-eligible securities are responsible for these charges, which can be as high as 10 times the value of the trade. Orders that require executions with multiple contra-parties will result in settlement fees for each separate transaction. Neither All of Us nor Apex Clearing Corp mark up any of these fees before they are passed through to customers. These pass-through charges may not be immediately charged to a customer account following a trade in non-DTC-eligible securities, as our clearing firm may receive notice of such fees several weeks following the trade. We reserve the right to withhold funds in a customer account pending potential assessment of fees associated with trading in penny stocks. It is your responsibility to investigate the eligibility status of an equity before trading it. We recommend that you contact the specific company whose equity you intend to trade to confirm eligibility.
Low Priced Securities
For transactions in excess of 100,000 shares in securities priced under $1.00, there will be a surcharge of $0.0002 per share up to a maximum total charge of 5% of the principal value of the transaction. This fee is charged by our counter-parties. Sorry. Don’t blame us. Our hands are tied.
Fees levied by regulatory agencies (applicable at all brokerage firms):
SEC Fee* - $5.10 per $1,000,000 of principal (only applies to sales).
FINRA Trading Activity Fee* - $0.000119 per share (only applies to stock sales).
The margin interest rate for all balances is currently 4%.
In general, our margin rate will rise or fall in relation to changes to the fed funds rate set by the Federal Reserve. You know them, they don’t stand still for long.
Hard to Borrow stock:
This one is a doozy. But here we go. Securities lending rates are specific to each individual security. They are sensitive to market supply and demand for the individual security, as well as interest rates. As a consequence, they go up and down daily for each security. The cost to borrow includes charges from our counter-parties with no mark-up by All of Us. These charges will post to your account daily, as incurred. You’re welcome.
ADMINISTRATIVE FEES (CHARGED BY OUR CLEARING FIRM)
ACH Deposits & Withdrawals - Free
Incoming Wire Transfers (Foreign Bank) - $14
Paper Check mailed - $5
Returned Checks/ACH/Wires and Recalls (Including amendments/repairs) - $30
ACH Notice of Correction - $5
Stop Payments on Apex Issued Checks - $30
Annual Maintenance Fee - $20 (currently waived)
Mailed Trade Confirmations - $2 per confirm
Mailed Statements (monthly and quarterly) - $5 per statement
Mailed Tax Statements - $5 per statement
Tax Form 5498 (Paper) - $5 per delivery
Outgoing ACAT Transfers - $75 per account
DTC Delivery - $25 per security
TOD Account Transfer Fee - $200 per transfer
Domestic Voluntary / Post Actionable Reorgs - $50 per CUSIP
International Voluntary / Post Actionable Reorgs - $100 per CUSIP
Margin Sell out Fee - $25 per ticket
Mailgrams / NYSE Extensions - $25 per item
Short Forced Buy-In Fee - $25 per ticket
Return Mail - $2 per piece
Paper Prospectus Mailing (Domestic) - $2.50 per mailing
Escheatment Processing - $75 per account
Account Holder Escheatment Notifications - $2 per notification