Stock and ETF Trades
$0
Broker-Assisted Orders
$15.00
Foreign Stocks
$39.00
Equity or Index, Market or Limit Orders
$0
Broker-Assisted Orders
$15.00
Option Exercise/Assignment
$9.00
* Select proprietary index options may incur additional fees.
Equities
$0
First 25 Bonds
$5.00 per bond
Each Additional Bond
$3.00 per bond
Minimum
$39.00
No-Load Mutual Funds (language)
$5.00
Periodic Investment or Withdrawal
$5.00
Fees incurred as a result of trading activity, market structure or regulatory requirements.
Varies
$0.000166 per share (max $8.30 per trade)
$0.00279 per contract
$0.00105 per bond (max $1.05 per trade)
$0.01535 per contract
OCC Fees
$0.025 per contract
CAT Fee – Options
$0.00 per contract
CAT Fee – Equities (On Exchange)
$0.00 per share
CAT Fee – Equities (Off Exchange)
$0.00 per share
CAT Fee – OTC Equities
$0.00 per 100 shares
Varies
Varies
NSCC Illiquid Securities Fee
Varies
$50.00
$125.00 per month
$75.00 annually
Certificate Held in Safe Keeping (FSW)
$100.00 per year
Physical Certificate Held at DTC Delivery Fee
$100.00
Physical Certificate Held at Hilltop Securities (Street or Client Name)
$150.00 per year
DTC Non-Transferable Fee
$15.00 per month
DTC Non-Transferable Securities Held
$150.00 annually
Dividend Reinvestment Program
No fee
Wire Transfer
$35.00
Recalled or Returned Wire
$50.00
Returned Check
$40.00
Transfer Out – Full
$60.00
Transfer Out – Partial
$50.00
Transfer and Ship Request
$550.00
Non-ACAT Eligible Securities – Full
$75.00
Non-ACAT Eligible Securities – Partial
$35.00
Non-DTCC Eligible Securities
$100.00 plus pass-through fees*
Bond Redemption
$15.00
ACH Recall / Reversal / Return
$35.00
* Applicable fees include wire fees, rejection fees and shipping fees, redeposit fees, transfer agent fees, DWAC fees and agent fees.
Reorganization – Mandatory
$20.00
Reorganization – Voluntary
$50.00
Tender Offer – Mandatory
No fee
Tender Offer – Voluntary (per position)
$50.00
Right or Warrant Exercise – Mandatory
No charge
Right or Warrant Exercise – Voluntary
$50.00
Reg T Extension
$20.00
DWAC and DRS Processing Fee
$75.00 plus transfer agent fees
DRS Statement Withdrawal
$30.00*
Cancel and Re-Bill
$20.00
* A DRS statement is sent only when a security is returned to the transfer agent to hold in book entry form.
Copy of Past Confirmation
$5.00
Copy of Past Statement
$5.00
Certificate Processing / Deposit Fee (NYSE, NASDAQ) (Pink Sheet and Bulletin Board Securities not accepted)
$75.00 per CUSIP, per deposit, plus applicable fees*
* Applicable fees include wire fees, rejection fees and shipping fees, redeposit fees, transfer agent fees, DWAC fees and agent fees.
SIMPLE IRA 5304 Annual Fee
$45.00
SIMPLE IRA 5305 Annual Fee
$100.00
SIMPLE IRA Setup Fee
$100.00
IRA Annual Fee
$15.00
IRA Setup Fee
No Charge
IRA Termination Fee
$50.00
Profit Sharing Plan Fee
$100.00
Trading Activity Fees (TAF) are passed through to customers as part of normal transaction processing.
Effective January 1, 2026, the Trading Activity Fee (TAF) rate for sales of covered equity securities will increase from $0.000166 per share for each sale of a covered equity security to $0.000195 per share, with a corresponding increase to the per-transaction cap for covered equity securities from $8.30 to $9.79. The new rate will apply to any sale of a covered equity security subject to the TAF occurring on or after January 1, 2026.
The FINRA (TAF) for option sales is currently $0.00279 per contract will increase to $0.00329 per contract and fees for covered debt securities are $0.00105 per bond will increase to $0.00124 per bond, with a maximum assessment of $1.05 per trade will increase to $1.24 per trade (based on 1,000 bonds).
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.
Based on the recent changes to the short stock rules and increased difficulties to borrow stock, our clearing firm, Hilltop Securities, Inc. 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 (102%), 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.
Effective May 14, 2025, the Section 31 fee rate applicable to specified securities transactions on the exchanges and in the over-the-counter markets will decrease from its current rate of $20.60 per million dollars in transactions to a new rate of $0 per million dollars in transactions.
See https://www.sec.gov/rules-regulations/fee-rate-advisories/2025-2 for more information.
For more information on the term “charge date,” please refer to Rule 31(a)(3) and Exchange Act Release No. 49928 http://www.sec.gov/rules/final/34-49928.htm.
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.
(a) uses the Information for more than personal investment purposes;
(b) plans to furnish or use the Information with any other person(s) as part of any type of business activity (customer service, investor relations, public relations financial planning, etc.) even if it is outside of the Securities marketplace;
(c) is using the Information as or on behalf of a firm, corporation, partnership, trust or association and not as an individual for personal use;
(d) is a securities broker-dealer, registered representative, investment advisor, investment banker, futures commission merchant, commodities introducing broker or commodity trading advisor, money manager, financial planning advisor, member of the Securities Exchange or Association or Futures Contract market, or any owner, partner or associated person of the foregoing;
(e) is employed by a bank or an insurance company or an affiliate of either performing functions related to securities or commodity futures investment or trading activity; or
(f) otherwise meets the definition of a professional user, as defined from time to time by any Exchange or similar Information Provider from whom the Subscriber is receiving Information.
Fee charged in September of each year. This fee will be waived for accounts that have greater than $5,000 total account value as of September 1st. To avoid paying this fee, make sure your account is set to electronic deliver.
Breakdowns of each rate for the individual exchanges are as follows:
The combined rate for the ORF will be $0.01535 per contract with no minimum per trade.
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.
NSCC (National Securities Clearing Corp.) VAR (Value at Risk) Charges result when a larger position is held overnight in an equity that NSCC deems to be “volatile”. The NSCC list includes stocks that have volatile price action and may change daily. The fee may be up to the dollar amount of the position held overnight charged at an interest rate of 10.50%. This fee is applied to customer accounts on a monthly basis.
Effective January 1, 2024 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 |
| NDX | Nasdaq 100 Index | $.15/contract |
| OEX | S&P 100 Index | $.55/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 | $.60/contract |
| SVO | SIG Energy Index | $.35/contract |
| UTY | PHLX Utility Sector Index | $.35/contract |
| VIX | CBOE Volatility Index | $.50/contract |
| VXX | iPath S&P 500 VIX Short Term Futures | $.18/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 |
| XSP | CBOE MINI S&P 500 | $.50/contract |
Index fees are subject to change without notice.
The following criteria are used to determine whether an account is charged the Holding and Reporting Fee (also known as an H&R fee or Inactivity Fee). The account will be exempt from the Holding and Reporting Fee if any one of the conditions below is met: