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Ancillary Fees
| Service | Fee | Recurrence | Definition |
| Account Transfer Out | $65.00 | Per Account Transferred | Accounts that are transferred to another financial institution. |
| Account Transfer Out- Partial | $20.00 | Per Transferred Security, Per Broker | Accounts that transfer part of their portfolio to another financial institution. |
| DRS Transfer- Out | $50.00 | Per Stock | Instead of requesting a stock certificate, this type of transfer will allow you to maintain an account registration directly with the transfer agent. |
| DTC Transfer- Out | $20.00 | Per Stock | "Broker to broker" transfer of stock over the DTC system. |
| DWAC Transfer- (In & Out) | $50.00 | Per Stock | A type of electronic stock transfer. |
| Stock Certificate Deposit (under $1) | $50.00 | Per Certificate | A fee of $50 will be charged for deposits of certificates for stocks trading under $1 per share. |
| Safe Keeping Certificate Deposit | $50 | Per Certificate | Depositing a non-negotiable stock certificate to your account, stored in a physical safe at the clearing agent, Penson Financial Services, until negotiable. |
| Safe Keeping Certificate Storage | $2 | Per Certificate, Per Month | Holding a non-negotiable stock certificate to your account, stored in a physical safe at the clearing agent, Penson Financial Services, until negotiable. |
| Voluntary Reorganizations | $30.00 | Per Security Issue | Reorganizations such as tender offers, whereby a customer may elect to participate. |
| Legal Transfers - Standard (Rule 144 Certificate Deposit) | $100.00 | Per Certificate | Transfers/deposits requiring legal papers in addition to stock powers. Note: Trading Direct no longer accepts knowingly restricted stock. |
| Legal Transfers - Restricted (Rule 144 Certificate Deposit) | $200.00 | Per Certificate | Transfers/deposits of restricted stock requiring legal papers in addition to stock powers. Note: Trading Direct no longer accepts knowingly restricted stock. |
| Stop Payment of a Check | $30.00 | Per Check Stopped | Placing a "stop payment" on a check written off the balance of your brokerage account. |
| Wire Transfers - Domestic | $30.00 | Per Transfer | Transfer of funds to another financial institution via Federal Wire System. |
| Wire Transfers - Foreign | $50.00 | Per Transfer | Transfer of funds to another foreign financial institution via SWIFT Wire System. |
| Overnight Courier | $30.00 | Per Occurrence | Usage of overnight courier, DHL or UPS (for check withdrawals only). |
| Returned Checks / ACH | $35.00 | Per Occurrence | Checks deposited, or ACH items, which are rejected for insufficient funds, etc. |
| T-Call or Extension Mailgram | $25.00 | Per Event | Fee charged for inadequate cash position. |
| House Call / Sell Out / Buy In Mailgram | $15.00 | Per Event | Margin Notices. |
| Uneconomical Sale Processing | $19.95 | Per Stock | Fee charged on the sale of a stock where the proceeds do not meet the commission charge. |
| Low Priced Security Good Faith Deposit | $19.95 | Per Security | A $19.95 good faith deposit is required to be maintained in an account for each position with little or no value (This is not a fee charged up front, rather it is money set aside in an account, which could be used to pay for a future commission charge or uneconomical sale processing). |
| IRA Termination | $75.00 | Per Account | The closing or transfer of a retirement plan. |
| IRA Maintenance | $50.00 | Per IRA | Fee charged annually in December. Waived if one trade (purchase or sale of a security) is made during the one-year period ending December 31st. |
| Paper Trade Confirmation Charges * | $1.00 | Per Confirm | *Waived if you elect to receive confirms electronically. |
| Paper Monthly Statement Charge* | $1.50 | Monthly Statement | *Waived if you elect to receive statements electronically. |
| Regulation S GDR/ADR Depositary Service Charge | $.02 - $.05 per share | Annually | Annual Fee which may be charged by a transfer agent, and subsequently passed along to holders of Regulations S Global Depositary Receipts (GDRs/ADRs). |
| Returned Mail | $3.00 | Per Piece of Mail | Fee charged to those whose mail is returned to Trading Direct because he/she did not update postal mailing address (Returned mail will not be forwarded). |
| Duplicate copy of Monthly Statement or 1099 | $5 | Per Statement | A duplicate copy of a monthly statement is $5 for each month requested. |
| FINRA per trade fee | $.000075/share (with a maximum of $3.75) | Per Trade | Regulatory fee passed along from FINRA. |
| Short Sale HTB fee rate | varies | Per Short Position | See Interest Rates page for details. |
| Inactive Accounts | $60.00 | Per Account | Fee charged annually based on the one year period ending June 30. (See below for exemptions)… |
Inactivity Exemptions:
You are exempt from Ancillary Fees if you meet the following conditions:
- A trade took place in the account between July 1, 2010 and June 30, 2011(inclusive).
- Assets equal zero (assets are defined as market value plus money market plus cash plus margin balance).
- The average margin balance for the past month is $2,500.00 or more.
- The average cash credit balance for the past month is $5,000.00 or more.
- It is a Valet account.
- It is a Householding account and the aggregate of the householding accounts meets the balance requirements of either a $2,500.00 margin debit or $5,000.00 cash credit balance.
- It a Trust account.
- It is a Retirement (Pension or IRA) account.
- The account was opened on or after July 1, 2010.
- The account is currently in the ACAT process.
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For all other account types please visit our Document Center.
Questions? Contact us.