Pricing

Low, fair and simple


Rates

stock trades $0 Commission flat rate
$0 per trade applies to online Day orders, Market or Limit, in Nasdaq and NYSE stocks and ETFs executed at $1 or more per share. Other orders in listed stocks are $5. Day+Ext (pre and post market) add $0.005 per share. OTC stock trades are $7 plus applicable surcharges. $0 commission pricing model carries a $5 monthly fee. You may switch between pricing plans no more than once a month.
option trades 15¢

Per Contract + $5 Basespreads only one base charge

OR

$10

Mouseover for details.

Regulatory fees, exchange fees and index option surcharges are extra. $10.00 per trade with no contract fee plan is not available to accounts with naked option writing permission. The default pricing plan will be $5.00 per trade plus 0.15 cents per contract. You may switch between pricing plans no more than once a month. 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 be obtained by contacting us at service@choicetrade.com.
Trade Commission Plans Notes
Listed Stocks and ETF Trades
(above $1.00 per share)
$0 Commission Per Trade
(Market and Limit Day Orders Only. Day Stop, Stop Limit and all GTC and Day+Ext orders are $5)


$5 Commission Per Trade
$100 Minimum account balance. $5 monthly fee applies.
Day+Ext add $0.0050 per share for either plan.




$100 minimum account balance. No $5 monthly fee.
All other U.S. Stock Trades
(10,000 or less shares per trade)
$7 Commission Per Trade Trading is not allowed on stock trades less than $0.05 per share. Additional $0.0007 per share charge applies to shares over 10,000. $500 minimum cash balance required for OTC stocks
F Stocks
(Foreign stocks trading in the U.S with five letter symbol ending in F)
$25.00 Commission Per Trade  
Option Trades $5 per trade plus $0.15 per contract (default)

$10 Per Trade plus $0.00 per contract

Limit of 250 contracts per leg, max 4 legs per trade. Customer may choose either one of the two options plans regardless of which stock plan is chosen. The default option plan is $5 plus 15 cents. Exercise and Assignment $5

All rates apply to trades on the online platform.  If you subscribe to the Direct Pro platform, the commission is $0.0025 per share, subject to a $5.00 minimum per trade.
All Regulatory, Exchange, OCC and index option surcharges are extra.  Please contact us for details.

You may choose whichever stock plan and option plan you prefer You may switch between pricing plans no more than once a month. Changes are effective on the first day of the next month.

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 platform. It does not apply to foreign finder agreements or other special agreements or if you use Direct Pro.
If you participate in a third-party investment program, then your minimum commission per option trade will be $10.00 exclusive of index option surcharges (if applicable). $10.00 per trade with no contract fee plan is not available to accounts with naked option writing permission. The default pricing plan will be $5.00 per trade plus $0.15 cents per contract. 

There is a list of index options including SPX, OEX, RUT and VIX, for which ChoiceTrade charges a surcharge of $1.00 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 service@choicetrade.com.


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 service@choicetrade.com. 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 20% of the underlying stock less any amount the option is out-of-the-money; or
2. 100% of the option proceeds plus 10% 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 20% of the underlying stock less any amount the option is out-of-the-money; or
2. 100% of the option proceeds plus 10% 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
Market Orders
Value of the difference between the strike prices

$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
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;
$2,000 minimum margin account equity
Maintenance margin requirement of short call or put;
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 $2.50

Fees

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



Monthly Account Maintenance Fee $5 (Stock Plan A)
Fee not prorated for partial month.
   
Incoming Wire Fee
(Domestic and Foreign)
$0
Outgoing Wire Fee
(Domestic)
$35
Outgoing Wire Fee
(Foreign)
$60
Outgoing ACH Fee
(Domestic only)
$5
   
Broker-Assist Surcharge $30 per trade
   
Incoming ACAT Transfer $0
Outgoing ACAT Transfer $75
Partial ACAT Transfer $35
   
Monthly Paper Statement $5
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 $50
Other relevant fees still apply
Voluntary Corporate Action $50
Accounts that close without trading $25
Account Reactivation $25
Inactivity Fee
(Individual or Joint Accounts)
$20 Quarterly (Stock Plan A)
$35 Quarterly (Stock Plan B)
Fee is waived for either plan if 5 or more trades are performed
within the calendar quarter
Inactivity Fee
(Entity Accounts)
$50 Monthly
Fee is waived if 5 or more trades are performed within the month
Returned Mail $10
Returned Funding (Wires, ACH's, etc.) $40
Foreign Entity Annual Review Fee $200
Worthless Security Write-off Fee $7 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 $50 per stock monthly
Applies to OTC stock positions of 100,000 shares or more.

*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.

Service Four

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