|
Single Accounts, Individuals and Small Businesses
unless any of the following criteria exist:
|
Monthly Activity Fee = 0 if monthly commissions are equal to at least USD 10.
If monthly commissions are less than USD 10,
Standard Activity Fee = USD 10 – commissions.
Example:
Monthly commissions = USD 6
Standard Activity Fee = USD 10 – USD 6
Standard Activity Fee = USD 4
|
The first three full calendar months 10
or
Accounts whose
Net Liquidation Value >= USD 100,000 (or non-USD equivalent)
|
|
Average Equity Balance is less than USD 2,000 5
or
A balance is maintained in a closed account
|
Monthly Activity Fee = 0 if monthly commissions are equal to at least USD 20.
If monthly commissions are less than USD 20,
Activity Fee = USD 20 – commissions.
Example:
Monthly commissions = USD 11
Activity Fee = USD 20 – USD 11
Activity Fee = USD 9
|
Not applicable.
|
|
Client is age 25 or under
|
Monthly Activity Fee = 0 if monthly commissions are equal to at least USD 3.
If monthly commissions are less than USD 3,
Activity Fee = USD 3 – commissions.
Example:
Monthly commissions = USD 1.25
Activity Fee = USD 3 – USD 1.25 Activity Fee = USD 1.75
|
The first three full calendar months 10
or
Accounts whose Net Liquidation Value >= USD 100,000 (or non-USD equivalent)
|
| UGMA/UTMA Accounts |
Monthly Activity Fee = 0 if
monthly commissions are equal to at least USD 10.
If monthly commissions are less than USD 10,
Standard Activity Fee= USD 3
|
The first three full calendar months 10
or
Accounts whose Net Liquidation Value >= USD 100,000 (or non-USD equivalent) |
| Advisor, Friends and Family, Family Office, and Hedge Fund Investment Accounts |
Advisor Master Account
There is no Activity Fee for the Master Account.
Advisor Client Accounts7,9
Monthly Activity Fee = 0 if consolidated monthly commissions are at least equal to (number of accounts6 x USD 10).
Example: Advisor has 12 sub accounts, number
of Accounts = 12
Monthly consolidated commissions minimum requirement is 12 x USD 10 = USD 120
If the monthly consolidated commissions are less than the required minimum, an activity fee is charged on an account-by-account basis using the Standard Activity Fee calculation described above. |
N/A
If after performing the consolidated calculation, it is determined that fee must be charged on an account-by-account basis, then the following waivers will be applied to each client account:
The first three full calendar months 10
or
Accounts whose Net Liquidation Value >= USD 100,000 (or non-USD equivalent) |
| Linked Accounts |
Monthly Activity Fee = 0 if
consolidated monthly commissions are at least equal to (number of accounts6 x USD 10).
Example: Advisor has 12 sub accounts, number
of Accounts = 12
Monthly consolidated commissions minimum requirement is 12 x USD 10 = USD 120
If the monthly consolidated commissions are less than the required minimum, an activity fee is charged on an account-by-account basis using the Standard Activity Fee calculation described above.7, 9
|
If after performing the consolidated calculation, it is determined that fee must be charged on an account-by-account basis, then the following waivers will be applied to each client account:
The first three full calendar months 10
or
Accounts whose Net Liquidation Value >= USD 100,000 (or non-USD equivalent) |
| Separate Trading Limit |
Monthly Activity Fee = 0 if
consolidated monthly commissions are at least equal to (number of accounts6 x 10).
Example: STL has 12 sub accounts, number of Accounts = 13
Monthly consolidated commissions minimum requirement is 13 x 10 = USD 130
If the monthly consolidated commissions are less than the required minimum, an activity fee is charged on an account-by-account basis using the Standard Activity Fee calculation described above. 7, 9 |
If after performing the consolidated calculation, it is determined that fee must be charged on an account-by-account basis, then the following waivers will be applied to each client account:
The first three full calendar months 10
or
Accounts whose Net Liquidation Value >= USD 100,000 (or non-USD equivalent) |
| Brokers |
Broker Master Account
Monthly Activity Fee = 0 if
consolidated monthly commissions are equal to at least USD 2,000.*
If monthly commissions are less than USD 2,000
Activity Fee = USD 2,000 – commissions.
*We require an initial deposit of 10,000 USD to be applied against your first eight months' minimum commissions.
At the end of the eighth month, your total commissions are subtracted from the 10,000 deposit to reach the required commission minimum.
Example: Your total commissions over eight months = USD 6,400. Minimum commissions required for months 1 - 8 are:
10,000 – 6,400 = USD 3,600
Broker Client Accounts8
If the monthly consolidated commissions are less than the required minimum (i.e., number of accounts x USD 10), an activity fee is charged on an account-by-account basis using the USD 10 Standard Activity Fee calculation as described above for single accounts.
If the monthly consolidated commissions are equal to or greater than the required minimum, an activity fee is charged on an account-by-account basis using a USD 1 Activity Fee. |
N/A
If after performing the consolidated calculation, it is determined that fee must be charged on an account-by-account basis, then the following waivers will be applied to each client account:
The first three full calendar months 10
or
Accounts whose Net Liquidation Value >= USD 100,000 (or non-USD equivalent)
If after performing the consolidated calculation, it is determined that fee must be charged on an account-by-account basis, then the following waivers will be applied to each client account:
The first three full calendar months 10
or
Accounts whose Net Liquidation Value >= USD 1,000 (or non-USD equivalent) |
