Trading Direct

Ancillary Fees

Service Details
Account Transfer Out $95.00 per account transferred to another financial institution.
Account Transfer Out- Partial $30.00 per position transferred to another financial institution. (Applies to partial ACAT, DRS, or DTC Transfers).
DRS Transfer In $20.00 per stock, for transfer of account registration from a stock's transfer agent.
DTC Transfer In $5.00 per stock, for transfer of a security from another firm via the DTC system.
DWAQ Transfer In $150.00 per security, for transfer of a security from the transfer agent via the DWAQ system. (uncommon)
Overnight Courier $30.00 per mailing via overnight courier, UPS (for check withdrawals).
Security Transfer Failure $20.00 per failed request, for security transfer requests which are initiated but unable to be completed.
Trust Dissolution $200 per occurrence. Potential fee for distribution of trust account assets to successor trustee or beneficiary. Contact us for details.
Wire Transfers $30.00 per transfer of funds to another financial institution via Federal Wire System or International SWIFT.
Service Details
IRA Termination $75.00 per IRA for the closing or full transfer of a retirement plan account.
IRA Maintenance* $55.00 per IRA. Charged upon yearly anniversary of account opening.
*Refunded to existing customers whose IRA genarated over $50 in commissions, or maintained an average cash credit balance over $25,000, or maintained an average FundVest mutual fund balance over $100,000 during the past year. Fee is applicable and non-refundable to IRAs terminated in between anniversary dates.
Service Details
Paper Trade Confirmation* $1.00 per postal mailing *(Waived if elected to receive electronically).
Paper Monthly Statement* $1.50 per postal mailing *(Waived if elected to receive electronically).
Paper ETF/ETN Prospectus (Domestic)* $5-$15 (depending on weight), per postal mailing with in USA, for Exchange Traded Fund/Note paper prospectus. *(Waived if elected to receive electronically).
Paper ETF/ETN Prospectus (International)* $15 per postal mailing outside USA, for Exchange Traded Fund/Note paper prospectus. *(Waived if received electronically).
Duplicate copy of Statement $5/$10 per duplicate monthly statement. (Published 2002 and later= $5 per month. Prior to 2002= $10 per month.)
Returned Mail $3.00 per mail piece of non-deliverable postal mail returned by USPS.  (Returned mail is not forwarded).
Paper Stock Certificate Deposit $30.00 per certificate fee may apply for each one deposited.  Contact us prior to submitting.
  Foreign Stock/Option...
Service Details
Foreign Receive and Deliver $75 to receive/deliver an OTC Foreign stock (5-letter symbol ending in F) from/to another broker.
Reg.S GDR/ADR Foreign Custody $.02-.05 per share, potential annual fee from transfer agent to record date Regulation S Global Depository Receipt (GDR/ADR) holders.
Reg.S GDR/ADR Foreign Processing Typically $.01-.03 per share charge, from transfer agent, for a dividend or distribution, to record date Reg. S Global Depository Receipt (GDR/ADR) holders.
Non-DTC Foreign Custody $4 per month, per foreign position. Transfer agent charge to hold a foreign, non-DTC eligible stock. (5-letter symbol ending in F.)
French GDR/ADR Tax 0.2% of purchase, for French Government tax of French company ADR or option contract purchases (rate= 0.2% of principal).
Italian GDR/ADR Tax 0.12% of purchase, for Italian Government tax of Italian company ADR or option contract purchases (rate= 0.12% of principal).
Service Details
FINRA Trading Activity Fee $.000119 per share, per trade (up to a maximum of $5.95), for the Trading Activity Fee (TAF) charged by FINRA. This fee is only passed along to clients executing at least 20,000 shares per order.
Margin House Call Mailgram $10 charge for margin accounts the fall below the minimum equity requirement.
Forced Liquidation $15 charge + the normal commission rate, for accounts with insufficient equity incurring a sell-out, due to an unsatisfied fed call or house call.
Safe Keeping of Certificate $2 per certificate, per month, to hold a non-negotiable paper stock certificate in a physical safe at clearing agent, until negotiable.
Voluntary Reorganizations $30.00 per security issue, for reorganizations such as tender offers, whereby an owner elects to participate.
Stop Payment of a Check $30.00 to place a "stop payment" on a check written off your brokerage account balance.
Returned Checks/ACH $30.00 for a check or ACH deposit returned/rejected for insufficient or uncollected funds, etc.
Post Settlement Trade Correction $19.95 is added to commission amount, to modify an executed trade after settlement date (when possible).
UBTI Tax Return Processing $200 to file IRS form 990-T. Applicable only to retirement accounts with partnership securities generating at least $1000 of unrelated business taxable income.
Short Sale Interest (stock borrow) Varies per short position. See Interest Rates page for details.
Cash Account Debit Interest Interest may be charged on a debit balance in a cash account, post-settlement date. See Interest Rates page for details.
Inactive Accounts $60.00 per account, charged annually, to inactive accounts for the one-year period ending Dec 31st. (Details below)


Inactive Account Fee Details:

An inactive account would meet the following criteria:
• The account has had no settled trades (subject to a commission or load charge), from January 1 through Dec 31.
• The account had margin (debit) and/or credit (cash balance) interest of less than $100 per year.

The following accounts are exempt from inactive account fees:
• Accounts executing one trade subject to a commission or load charge, that settles during the calendar year, exclusive of dividend reinvestment trades.
• Accounts that generated at least $100 of either margin (debit) or cash (credit) interest charges.
• Corestone Gold & Platinum level accounts.
• Individual retirement accounts (IRAs), and other qualified retirement plan accounts for which Pershing LLC acts as custodian.
• Accounts that maintain an average FundVest mutual fund position value over $100,000.

• Clients that transfer out an inactive account, may be charged an inactive account fee prior to year-end.


Low Priced Security Good Faith Deposit: For accounts owning stocks with insignificant value, a good faith deposit (GFD) of $60 is required, plus $20 for additional insignificant value positions. (i.e. own 3 stocks with insignificant value, GFD=$120). This is not a fee charged up front. Rather, it is money set aside in an account, which could be used to pay a future commission charge.