Finova Commissions and Fees
Account Service & Maintenance
| Service | Fee | Frequency |
|---|---|---|
| Annual Account Fee | $100 | Annually |
| Basic Global Tax Service | $50 | Annually |
| Account Termination | $100 | At occurrence |
Cash Management
| Service | Fee | Per |
|---|---|---|
| Paper delivery of account notifications | $5.00 | Delivery |
| Bank Wire—Domestic | $25.00 | Transaction |
| Bank Wire—Foreign | $60.00 | Transaction |
| Returned Deposited Items | $25.00 | Event |
Securities Safekeeping & Transfers
| Service | Fee | Per |
|---|---|---|
| DRS Transfer (Incoming/Outgoing) | $50 settled; $100 rejected | Transaction |
| DWAC Fee | $100 settled or rejected | Transaction |
| Legal Deposit/Transfer | $150 | Transaction |
| Partial Transfer | $50 | Transaction |
| Rule 144/Restricted Stock Deposit | $1,400 | Deposit |
| Safekeeping Fee | $5 | Certificate |
| Transfer Agent Fees | At cost | Transaction |
| ACAT (Transfer Out) | $100 | Occurrence |
| Legal Transfer/Re‑registration | $25 + TA Fee | Transaction |
| Legal Transfer—Return or Rejection | $85 | Event |
| Transfer & Ship—Physical Certificate | $120 | Event |
| Cashless Exercise | $100 | Transaction |
| Restricted Security Processing | $350 | Transaction |
| ADR Pass‑through Fee | Pass through* | Event |
| Worthless Securities Disposal | $1.00 per lot | Position |
Document Delivery & Notifications
| Service | Fee | Per |
|---|---|---|
| Paper Statements | $10.00 | Statement |
| Paper Trade Confirmations | $5.00 | Confirmation |
| 1099 Tax Paper Delivery | $10.00 | Statement |
| Printed Prospectus | $10.00 | Delivery |
| Reorg Notification—Mail | $5.00 | Delivery |
Reorganization
| Type | Fee | Per |
|---|---|---|
| Voluntary Non‑Physical | $25 | Event |
| Voluntary Physical | $25 + TA Fees | Event |
| Mandatory | $25 | Event |
Trading Fees & Commission
| Product | Fee | Per |
|---|---|---|
| Equity Trades (handled by Trader) | $0.05 – $0.10 per share | Trade |
| Liquidation of Stock (Finova Offering) | $20 minimum ticket fee | Trade |
| Option Trades | $1.00 per trade + $0.50 per contract | Contract |
| Option Assignment | $10 | Assignment |
| Non‑Deal Stock ≥ $1.00 | $0.03 per share, $20 minimum ticket fee | Trade |
| Non‑Deal Stock < $1.00 | 1% of total trade value, $20 minimum ticket fee | Trade |
Regulatory Fees
| Fee Type | Calculation | Per |
|---|---|---|
| SEC “Section 31” Fee on Sell Orders | 0.0000278 × principal value | Sale |
| FINRA Trading Activity Fee on Sell Orders | 0.000166 per share (max $8.30) | Sale |
Market Data & News
| Service | Fee | Frequency |
|---|---|---|
| Delayed Consolidated Snap Quotes | $0.05 per quote, $5 max/month | Quote |
| Real‑Time Consolidated Quotes | $20 + exchange fees | Monthly |
| Real‑Time BATS | $20 + exchange fees | Monthly |
| Real‑Time Level II Nasdaq | $50 + exchange fees | Monthly |
*ADR Fees *ADR agents that sponsor American Depositary Receipts (ADRs) are permitted to charge the ADR holder an annual custody fee. The fee is administered through the Depository Trust Company (DTC). If the ADR pays a dividend, the annual custody fee can be deducted from that or DTC will pass through a separate annual custody fee, the same way it does when the ADR does not pay a dividend. In that case, the annual fee will be posted to your account by our clearing firm. The per share fee and the date the fee posts annually will differ by ADR and is determined by the ADR agent. The ADR fee is anywhere between $0.01 and $0.10 per ADR share held.
Market data professional users will be charged a different rate for market data. Most exchanges and data vendors classify clients as either non-professional or professional. By default, organizations such as corporations, limited liability companies, partnerships and any account where the data is used for more than personal investment purposes is deemed to be professional. In addition, private persons may be considered professional if they are registered as a security or investment advisor, or act in a similar capacity. A trader who is employed by a financial services business may also be considered a professional.
Margin Rates
| Debit Balance | Rate |
|---|---|
| $1,000,000 + | 9.25% |
| $500,000 - $999,999 | 10.25% |
| $250,000 - $499,999 | 11.75% |
| $100,000 - $249,999 | 12.25% |
| $50,000 - $99,999 | 12.75% |
| $25,000 - $49,999 | 13.00% |
| $1 - $24,999 | 13.25% |
Effective as of 09/19/2024. Subject to change without notice.
We provide up to 4× day‑trading buying power and 2× overnight buying power with a margin account.
You must have at least $2,000 to qualify.
Interest on margin trading is calculated on a daily basis. The margin rate is variable and determined by the size of the margin loan.
Commission, fees, margin rates, and debit interest rates are subject to change without prior notice.