Pricing Low, fair and simple

Rates

Low Commissions

For a limited time starting October 1st, ChoiceTrade will require minimum $5000 first time funding for new account.

Trade Commission Notes
Stocks $5 per trade Direct Access: $0.0025 per share and lower, with a $5 minimum***

Trading is not allowed on Bulletin Board & OTC Market stocks under $0.05.

$500 minimum cash balance required for Bulletin Board and OTC Market Stocks 

Bulletin Board & OTC Markets (small and micro cap securities) Add: $2 per trade*
F Stocks (Foreign stocks trading in the U.S with five letter symbol ending in F) $25.00 per trade
Foreign stocks on foreign exchanges
NOTE: At the moment we are no longer accepting foreign stock opening transactions.
$75.00 per trade
Options Plan One: $5 per trade plus $0.15 per contract**

Plan Two: $10.00 per trade with no per contract fee**
(up to 250 contracts per leg)
No minimum account balance / Assignment & Exercise: $15
Mutual Funds $25  

* Our normal commission on NASDAQ and Exchange-listed stocks does not apply to Bulletin Board or Pink Sheet stock orders. Commission for BB/OTC market stocks has an additional surcharge per trade, as indicated above, up to 500,000 shares. For OTC orders over 500,000 shares, add 1% of the total dollar value of the order to the base commission and surcharge. In the event you deposit or DWAC stock into your account and sell the shares, your commission will not be the flat commission. It will be between 3% and 5% of the value sold. Penny Stocks are risky securities and not suitable for all investors. Please research each company carefully before you buy its stock. For after-hours trades, add 0.005/share to the normal commission. Our retail commission schedule does not apply to foreign finder agreements or other special agreements.

** Per contract charge applies to trades on the online platform. $0.55 a contract for options transacted on Direct Pro. There is a list of index options, including SPX, OEX and VIX, for which Choice Trade 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. If you participate in a third-party investment program, then your minimum commission per option trade will be $10, exclusive of index option surcharges (if applicable). 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 by sending an email before the 1st of any given 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.

Note: Regulatory and OCC fees will apply. Please contact us for details.

*** Per share pricing is restricted to trades made on the Direct Pro platform as an alternative to per-trade pricing. ECN/Exchange Fees Additional. 


Margin

All margin accounts are subject to a $2,000 minimum equity requirement. ChoiceTrade requires $25,000 in account equity for naked put writing and $100,000 for naked call writing. 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

$500 minimum cash balance required for Bulletin Board and OTC Market Stocks

1. 25% 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 50% 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 20% 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 10% 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 20% 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 10% 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

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:
Minimim cash requirement for long positions:
2X ETF (200% Leveraged) = 50%
3X ETF (300% Leveraged) = 100%

Minimim cash requirement for short positions:
2X ETF (200% Leveraged) = 60%
3X ETF (300% Leveraged) = 100%

Fees

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

SERVICE

FEE

Wires
Incoming no fee
Outgoing - Domestic $35
Outgoing - Foreign $60
Reorganization (corporate actions like stock splits)
Mandatory $30
Voluntary $150
IRA Fees
Set up fee (IRA) $25
Annual Custodial Fee $50
Termination Fee $50
IRA Paper Statement from Millenium $15
Outgoing Wire out of IRA $35
Roth IRA Conversion or Recharacterization Fee $250
IRA Account Closing Fee $50
Other Fees
 
Incoming ACAT Transfer no fee
Outgoing ACAT Transfer $75
Partial ACAT Transfer $35
Overnight Outgoing Check - Domestic $25
Monthly Paper Statement $5
Paper Confirmation $1 / trade*
Electronic Statement
(if elected in lieu of paper)
no fee
Electronic Confirmation
(if elected in lieu of paper)
no fee
Deposit, Delivery, Movement of Securities
and DTC-Ineligible and Related Fees
as determined
Blue Sheet Fee $20
DTC Exit Fee $40
Reg T Call Extension $20
Forced Margin/Other Sellout $50
Physical Security Custody Fee $30 per month
Illiquid Stock Sale (in addition to commission) 8% interest between trade and settlement date, minimum $25
Inactive Account fee $35 per quarter (waived if five or more trades per quarter or account equity greater than $50000)
Account Reactivation Fee $25
Individual Foreign Account Setup Fee (one-time only) $25
Entity Foreign Account Setup Fee (one-time only) $50
Foreign Entity Annual Maintenance Fee $200
Accounts that close without trading $25
Returned Mail $10
Returned Check/Electronic Funding $40
Worthless Security Write-off Fee $7 per stock
Hard to Borrow Fee As determined
Broker-Assist Surcharge $25 per stock

*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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