Miscellaneous Fees

Brokerage Fees
ACH Recall/Reversal/Return $35.00
Bond Maturity/Redemption Fee (excluded T-Bills) $10.00
Bond Redemption $15.00
Cancel and Re-bill $10.00
Cash Account Late Payment – Same as Margin Debit Charges, plus: $10.00
Copy of Past Confirmation $5.00
Copy of Past Statement $5.00
Dividend Reinvestment Program No Fee
DTCC Non-Transferable Securities Held $15.00 per security, per month
Estate Valuation $75.00
Foreign Custody Transfer Fee $100.00
Foreign Security Holding No Charge
Foreign Security Transaction

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FirstSouthwest Company has established a U.S. Dollar denominated Foreign Custody agreement with Broadcort for purpose of offering transactions in foreign securities in local markets. Foreign securities traded in the US OTC market can be identified by its symbol which will have a 5 letter symbol that ends with the letter F. FSUMF is one example of a foreign stock in the US OTC symbol. These trades are executed with a US Market Maker but settlement will be done in the local market. The following fees will apply effective immediately.

  • Foreign positions will be assessed 6 basis points annually
  • Transactions will include a $50 surcharge
 $50 surcharge
Inactivity Fee

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Inactivity Fee

An account is considered inactive when there are less than 2 trades in the past 12 months or if there are lss than $10,000 in credit or debit balances.

 $50.00
Index Option Exchange Fees
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Index Option Exchange Fees

Effective August 15, 2011 Investrade will begin passing through index option exchange fees. The additional cost to trade select index options is listed below. These fees will be charged in addition to Investrade's standard commission schedule.

Symbol Description Rate
DXL Jumbo DJX Index $.18/contract
EPX SIG Oil Exploration and Production Index $.45/contract
HGX OHLX Housing Sector Index $.18/contract
MNX Mini Nasdaq 100 Index $.18/contract
MVR Morgan Stanley Retail Index $.18/contract
OEX S&P 100 Index $.50/contract
OSX PHLX Oil Service Sector Index $.35/contract
RUT Russell 2000 Index $.18/contract
SOX PHLX Semiconductor Index $.35/contract
SPX S&P 500 Index $.50/contract
SVO SIG Energy Index $.35/contract
UTY PHLX Utility Sector Index $.35/contract
VIX CBOE Volatility Index $.50/contract
XAU PHLX Gold and Silver Index $.35/contract
XEO S&P 100 Index (European Style) Monthly $.40/contract
XEO S&P 100 Index (European Style) Weekly $.35/contract
XDE Euro/US Dollar Currency Index $.35/contract


Index fees are subject to change without notice.

 Varies
IRA Annual Fee $15.00
IRA Setup No Charge
IRA Termination $60.00
Legal Transfer Out – After 28 Days $50.00 per security
Non-ACAT Eligible Securities – Full $75.00
Non-ACAT Eligible Securities – Partial $35.00
Non-DTCC Eligible Securities $100.00 plus pass thru fees[1]
NSCC Illiquid Securities Fee Varies
Options Regulatory Fee (ORF)
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Options Regulatory Fee (ORF)

The CBOE and C2 Options Exchange have announced that it will increase the Options Regulatory Fee (“ORF”) from $0.0065 to $0.0085 per option contract and $0.0015 to $0.002 per option contract respectively. The Miami Options Exchange will begin charging ORF of $0.0004 per contract. The new rate will be effective January 2, 2013. The increased rate by the CBOE ,C2 and MIAX will be added to the existing ISE, PHLX, BOX, NYSE ARCA, NYSE AMEX and NOM rates in order to apply one combined charge on eligible transactions. The combined rate for the ORF will be $0.0377 per contract with no minimum per trade.

Breakdowns of each rate for the individual exchanges are as follows:

Exchange Rate

• CBOE $0.0085 per contract
• C2 $0.002 per contract
• ISE $0.0042 per contract
• PHLX $0.0045 per contract
• NYSE ARCA $0.0050 per contract
• NYSE AMEX $0.0050 per contract
• BOX $0.0030 per contract
• MIAX $0.004 per contract
• NOM $0.0015 per contract

Total: $0.0377

The combined rate for the ORF will be $0.0377 per contract with no minimum per trade. More information regarding the fees are available from the Exchanges and can be accessed below:

C2 Options Exchange
NASDAQ Options Market (NOM)
International Securities Exchange (ISE)
Boston Stock Exchange (BOX)
NASDAQ OMX PHLX (PHLX)
CBOE
NYSE ARCA (NYSE)
NYSE AMEX
MIAX Options Exchange

Updates to fees are made on a best efforts basis, however all fees are subject to change without notice. For current information and updates, please refer to the appropriate web site. 

 $0.0377 per contract
Overnight Check Fee $20.00
Reorganization – Mandatory No Fee
Reorganization – Volunatary $50.00
Returned Check $50.00
Right or Warrant Exercise – Voluntary $50.00
Right or Warrant Exercise – Mandatory No Charge
SEC Transaction Fee
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SEC Transaction Fee - New Rate Effective 5/25/2013

As of May 25, 2013, all trades that have an effective settlement date of May 27, 2013 or later will have the new rate applied. The fee rate applicable to securities transactions on the exchanges and over-the-counter markets will decrease from $22.40 per million dollars to a new rate of $17.40 per million dollars.

The following criteria will apply, based on the settlement date:

  • Trades with a settlement date or effective date of 05/27/13 or later will have the new rate applied.
  • Trades with a settlement date or effective date of 05/24/13 or earlier will have the old rate applied.
  • In all cases, the fee will be rounded up to the next penny.
  • Prefigured trades will remain as submitted.

Please refer to the SEC Advisory for more information.

How to Calculate:
Multiply the sale/principal amount of the transaction by the fee rate. Truncate at the seventh place after the decimal point. Truncate the resulting figure at the fifth place after the decimal point and round up to the nearest cent (Always round up if there is a remainder).

For more information visit the FINRA web site http://www.sec.gov/divisions/marketreg/mrfreqreq.shtml.

Updates to fees are made on a best efforts basis, however all fees are subject to change without notice. For current information and updates, please refer to the appropriate web site.

 Varies
Short Stock Hard to Borrow Fee
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Short Stock Fee

Based on the recent changes to the short stock rules and increased difficulties to borrow stock, our clearing firm, FirstSouthwest Company will be passing on charges for shorting stock that they must locate outside of their firm. These stocks are typically called hard to borrow securities. The fees can be charged daily and posted to the customer’s account the following business day for settled positions.

The formula for the Hard to Borrow fee (HTB) is the rate times the principal value divided by 360 to come up with the daily charge.  The principal value of the security is calculated by taking the securities price at the end of the previous trading day then multiplied by 1.02%, the figure is then rounded up to the nearest dollar amount.

Updates to fees are made on a best efforts basis, however all fees are subject to change without notice. For current information and updates, please refer to the appropriate web site.

 Varies
Statements & Confirms  
   Electronic Statements Free
   Electronic Confirms Free
   Paper Statements Free
   Paper Confirmations $1.00 per trade
Tenders
 
  Voluntary Per Position $50.00
  Mandatory No Fee
Trading Activity Fee (TAF)
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Trading Activity Fees (TAF)

Trading Activity Fees (TAF) are passed through to customers as part of normal transaction processing.

Effective July 1, 2012, the Trading Activity Fee (TAF) rate for sales of covered equity securities will increase from $0.000095 per share for each sale of a covered equity security to $0.000119 per share, with a corresponding increase to the per-transaction cap for covered equity securities from $4.75 to $5.95. The new rate will apply to any sale of a covered equity security subject to the TAF occurring on or after July 1, 2012.

The FINRA (TAF) for option sales is currently $0.002 per contract and fees for covered debt securities are $0.00075 per bond, with a maximum assessment of $0.75 per trade (based on 1,000 bonds), will remain unchanged.

As an industry transaction standard, FINRA levies a Trading Activity Fee (TAF) on the sale of covered securities pursuant to Section 1 of Schedule A to the FINRA By-Laws. The text of the rule is available in the online FINRA Manual.

Updates to fees are made on a best efforts basis, however all fees are subject to change without notice. For current information and updates, please refer to the appropriate website.

  
  Stocks & ETF's $0.000119 per share (max. $5.95 per trade)
  Options $0.002 per contract
  Covered Debt Securities $0.00075 per bond (max. $0.75 per trade)
Transfer Out - Full $60.00
Transfer Out - Partial $25.00 per security
Wire Transfers  
  Wire Transfer $30.00
  International Wire Transfer $60.00
  Recalled or Returned Wire $30.00
  Wire Amendment $15.00
  Wire Investigation $50.00
  Wire Repair  $15.00
Worthless Stock Liquidation $15.00
Stock Certificate Processing Fees
Certificate Processing Fee/Deposit Fee (NYSE, NASDAQ)
Pink Sheet and Bulletin Board Stock not accepted		 $75.00 per cusip, per deposit,
plus applicable fees [1]
DRS Statement Withdrawal $30.00 [2]

Physical Certificate Held at DTC in Street Name or Client Name

 $150.00 per year
Physical Certificate Held at DTC Delivery Fee $100.00
DWAC and DRS Process Fee $75.00 plus transfer agent fees
ESOP Trades $35.00 plus ticket charge
Foreign Securities Delivery $100.00 plus pass thru fees[1]
Foreign Securities Transfer $100.00 plus pass thru fees[1]
Transfer and Ship Request $550.00

Important Note: Modifying a partially executed order, also known as a cancel/replace, is considered a new order and will incur a separate commission if the modified order is executed.

[1] Applicable fees include wire fees, rejection fees, and shipping fees, redeposit fees, transfer agent fees, DWAC fees, and agent fees.

[2] A DRS statement is sent only when a security is returned to the transfer agent to hold in book entry form.

Fees & Commissions effective as of May 9, 2013. All fees subject to change without notice.