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MB Trading Fees, Margin Rates, IRA Fees, Interest, Trading Tools Charges for 2012
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MB Trading Margin Rates
MB Trading margin rate is 7.45% APR.
Margin account holders have the ability to borrow money at the margin interest
rate above. Borrowing money on margin lets you leverage securities you already
own to purchase additional securities. Accounts are not charged for the use of
margin when borrowing money throughout the day. The margin interest rate is only
charged when you borrow money to hold securities overnight. Therefore, if the
market value of securities in your account exceeds your account value overnight,
you are using margin.
MB Trading Credit Interest Rates
MB Trading Credit Interest rate is 0% APR.
Clients are paid interest each month on any free cash that remains in their
margin or cash account.
MB Trading Money Market Rates
Free cash is swept into a separate Scudder Funds money market account at the end
of each day to earn a higher interest rate. If a specific fund is not selected
when opening a new account, the highest average yielding fund (CAT MM Portfolio)
is selected automatically. To switch between the available money market funds
below, simply email support@mbtrading.com.
|
Scudder Fund Name |
Code |
1 Day Yield |
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CAT Tax Exempt Portfolio |
ST |
0.01% |
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Tax Exempt California¹ |
SA |
0.01% |
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Tax Exempt New York¹ |
SY |
0.01% |
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CAT MM Portfolio |
SC |
0.01% |
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CAT Gov't & Agency |
SG |
0.01% |
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ICT Treasury Portfolio |
SR |
0.01% |
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Connecticut¹ |
SN |
0.00% |
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Massachusetts¹ |
SS |
0.00% |
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Ohio¹ |
SO |
0.00% |
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Virginia¹ |
SV |
0.00% |
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Federated Penn Muni Fund 150 |
S1 |
0.00% |
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Federated Fla Muni Fund 815 |
S2 |
0.00% |
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Federated NJ Muni Fund 824 |
S3 |
0.00% |
|
Reich & Tang |
RT |
0.00% |
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Updated to 8/1/2012 |
MB Trading Software Fees
The MBT Desktop software is available for FREE. Regular cash accounts and margin
accounts are never charged account inactivity or maintenance fees*.
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MBT Desktop with Level 1
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Level 1 includes real-time streaming: |
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Nasdaq Level 1 quotes |
FREE |
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NYSE quotes |
FREE |
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AMEX quotes |
FREE |
Additional quote feeds can be added to your MBT Desktop software. The fees for
any quote feeds below can be waived with certain trading or balance
requirements.
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CME/CBOT Active Trader Incentive: |
For each CME/CBOT product traded, MB Trading will reduce your Data fee by $1. |
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CBOT Futures |
Complete CBOT Exchange (Includes Mini) $55
(Free with 55 trades*)
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CBOT Mini Futures |
Mini-Sized Package $10
(Free with 10 trades*)
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CME Futures |
CME Full Sized Products (Includes E-mini) $40
(Free with 40 trades*)
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CME Mini Futures |
E-mini Equity Package $25
(Free with 25 trades*)
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Additional Quotes |
Monthly Fee |
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NYMEX Data |
FREE with a funded futures account** |
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COMEX Data |
FREE with a funded futures account** |
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ICE Data |
FREE with a funded futures account** |
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Nasdaq Level II |
FREE with a $25,000 daily balance or if you
trade 10,000 or more shares per month on the
MBTX Plan or simply trade 10 trades per month on the
MBTR Plan, otherwise there is a fee of $10
per month.
The MBT Desktop Level II window is not available when integrated with the
following quote partners: eSignal, QCharts, DTNiQ, StockWatch. MB Trading's
Level II window is only available when the MBT Desktop is being used as a
stand-alone product. |
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NYSE/ARCA Book quotes |
$10 |
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Options |
FREE after 10 contracts traded per month,
otherwise $10 per month. |
*Products traded must be contained in data package to receive discount. Software
feeds will be disabled once an account value has fallen below $100. Feeds may be
reactivated with additional funding and by emailing
MB Trading Professional Fees
Professional fees are billed directly by the NYSE, AMEX, ARCA and NASDAQ each
month. The total fees come to $245.50. In appreciation of your business, MB
Trading will credit your trading account this full amount if you trade 100,000+
shares per month on the MBTX Plan.
Professional fees only apply to "professional" traders based on the following
definition: You would be considered a professional if you are currently
affiliated with or employed by the FINRA, a stock exchange or any member of
either of those organizations, if you have an affiliation with, or work for a
securities firm, bank, trust or insurance company, or if you are an officer,
director or a 10% shareholder of a publicly-owned company.
MB Trading Interest Rates
The information below does not apply to Forex account
All rates listed on this page are subject to change at any time, without prior
notice.
Margin Interest: 7.45% APR
Margin account holders have the ability to borrow money at the margin interest
rate above. Borrowing money on margin lets you leverage securities you already
own to purchase additional securities. Accounts are not charged for the use of
margin when borrowing money throughout the day. The margin interest rate is only
charged when you borrow money to hold securities overnight. Therefore, if the
market value of securities in your account exceeds your account value overnight,
you are using margin.
Credit Interest: 0% APR
Clients are paid interest each month on any free cash that remains in their
margin or cash account.
Money Market Rates:
Free cash is swept into a separate Scudder Funds money market account at the end
of each day to earn a higher interest rate. If a specific fund is not selected
when opening a new account, the highest average yielding fund (CAT MM Portfolio)
is selected automatically. To switch between the available money market funds
below, simply email support@mbtrading.com.
|
Scudder Fund Name |
Code |
1 Day Yield |
|
CAT Tax Exempt Portfolio |
ST |
0.01% |
|
Tax Exempt California¹ |
SA |
0.01% |
|
Tax Exempt New York¹ |
SY |
0.01% |
|
CAT MM Portfolio |
SC |
0.01% |
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CAT Gov't & Agency |
SG |
0.01% |
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ICT Treasury Portfolio |
SR |
0.01% |
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Connecticut¹ |
SN |
0.01% |
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Massachusetts¹ |
SS |
0.01% |
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Ohio¹ |
SO |
0.02% |
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Virginia¹ |
SV |
0.01% |
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Federated Penn Muni Fund 150 |
S1 |
0.02% |
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Federated Fla Muni Fund 815 |
S2 |
0.01% |
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Federated NJ Muni Fund 824 |
S3 |
0.01% |
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Reich & Tang |
RT |
0.00% |
Margin and Credit Interest Calculations:
Interest charges and credits are calculated on the net daily debit or credit
balance in your account. Interest incurred and interest earned will be posted
monthly to your account and is calculated on a 360-day year.
The applicable interest period is from the first day of each month to the last.
Any free credit balances will be offset against any debit in the margin account,
and interest will be charged on the net debit balance, if any.
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Example |
Account value: $10,000
Margin Interest rate: 7.95% APR
Transaction: $20,000 of XYZ purchased on 1/01 and sold on 1/15
- Take the amount of money borrowed and multiply it by the interest rate:
10,000 * .0795 = 795
- Take the product and divide it by the number of days in the year:
795 / 360 = 2.21
- Multiply this result by the number of days XYZ was held on margin:
2.21 * 15 = 33.15
It would cost $33.15 to borrow $10,000 for 15 days. |
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MB Trading Stock Fees
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Transfer Fees |
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ACAT Transfer Incoming |
FREE |
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ACAT Transfer Outgoing
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$50 |
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Check Request Standard Delivery
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FREE |
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Check Request Overnight Delivery
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$20 |
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Check Request Overnight Delivery (International)
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$30 |
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DTC Transfer Incoming
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FREE |
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DTC Transfer Outgoing
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$25 |
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Internal Journal Transfer
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FREE |
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Wire Transfer Outgoing (Domestic)
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$15 |
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Wire Transfer Outgoing (International)
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$50 |
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Hard-to-Borrow (HTB) Fee - Varies |
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Change Orders* |
FREE |
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GTC Orders*
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FREE |
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MBTX Advanced Orders*
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FREE |
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Order Cancellations* |
FREE |
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Phone Orders*
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FREE |
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SEC Transaction
Fee |
$16.90/million |
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Trading Activity
Fee |
$0.000075/share |
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Futures Execution Fee (PGHCO)
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$1.00 / month |
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Securities Processing Fees |
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ADR Holding |
$.03 per share per year |
DWAC and DRS Processing
(Incoming/Outgoing) |
$30 |
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Statement Withdrawal |
$30 |
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ESOP Trades |
$125 |
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Foreign Transfer of Canadian Securities per certificate |
$50 |
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Physical Stock Certificate Deposit**
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$75 per cusip/deposit |
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Physical Stock Certificate Safe Keeping per Quarter
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$15 |
Physical Stock Certificate Withdrawal (Non-DRS
Eligible)
Standard Delivery
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$235 |
Physical Stock Certificate Withdrawal
(Regardless of DRS Eligible)****
Rush Delivery
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$575 |
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Restricted Stock Processing
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$125 per cusip/deposit |
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Worthless / Non-Transferrable Securities |
$7.50 / month |
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Warrant Exercise |
$125 |
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Worthless Security Reinstatement |
$15 / per cusip |
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MB Trading Miscellaneous Fees |
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ACH Recalls/Returns/Reversals |
$30 |
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ACH Correction |
$5 |
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Additional Username* |
FREE |
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IRA Annual |
$30 |
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IRA Closing |
$20 |
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Money Market Check Re-order |
$10 |
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Non-Sufficient Funds (NSF) - ACH and Check Deposits
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$30 |
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Research Fee |
$25 |
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Returned Money Market Check |
$30 |
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Returned Mail***
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$2 |
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Stop Payment
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$30 |
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Wire Investigation |
$50 |
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Wire Recalls/Returns |
$30 |
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Wire Repairs/Amendments |
$15 |
** Fees may apply if original username has
subscribed software data feeds
** We reserve the right to refuse acceptance
of any submitted stock certificates. Processing of stock certificates usually
takes a minimum of 15 business days.
*** Each piece of mail returned mail will be a
$2 charge including statements and confirmations.
**** Any securities that can clear through the
DTC's Direct Registration System (DRS) should be withdrawn via DRS transfer
rather than a physical Stock Certificate. DRS eligible securities withdrawn by a
physical Certificate can only be sent via Rush Delivery.
MB Trading Options Fees
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Transfer Fees |
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ACAT Transfer Incoming |
FREE |
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ACAT Transfer Outgoing
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$50 |
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Check Request Standard Delivery
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FREE |
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Check Request Overnight Delivery
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$20 |
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Check Request Overnight Delivery (International)
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$30 |
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DTC Transfer Incoming
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FREE |
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DTC Transfer Outgoing
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$25 |
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Internal Journal Transfer
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FREE |
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Wire Transfer Outgoing (Domestic)
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$15 |
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Wire Transfer Outgoing (International)
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$50 |
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Hard-to-Borrow (HTB) Fee - Varies |
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Change Orders* |
FREE |
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GTC Orders*
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FREE |
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MBTX Advanced Orders*
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FREE |
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Order Cancellations* |
FREE |
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Phone Orders*
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FREE |
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SEC Transaction
Fee |
$16.90/million |
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Trading Activity
Fee |
$0.000075/share |
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Futures Execution Fee (PGHCO)
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$1.00 / month |
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Securities Processing Fees |
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ADR Holding |
$.03 per share per year |
DWAC and DRS Processing
(Incoming/Outgoing) |
$30 |
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Statement Withdrawal |
$30 |
|
ESOP Trades |
$125 |
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Foreign Transfer of Canadian Securities per certificate |
$50 |
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Physical Stock Certificate Deposit**
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$75 per cusip/deposit |
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Physical Stock Certificate Safe Keeping per Quarter
|
$15 |
Physical Stock Certificate Withdrawal (Non-DRS
Eligible)
Standard Delivery
|
$235 |
Physical Stock Certificate Withdrawal
(Regardless of DRS Eligible)****
Rush Delivery
|
$575 |
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Restricted Stock Processing
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$125 per cusip/deposit |
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Worthless / Non-Transferrable Securities |
$7.50 / month |
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Warrant Exercise |
$125 |
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Worthless Security Reinstatement |
$15 / per cusip |
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Miscellaneous Fees |
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ACH Recalls/Returns/Reversals |
$30 |
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ACH Correction |
$5 |
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Additional Username* |
FREE |
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IRA Annual |
$30 |
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IRA Closing |
$20 |
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Money Market Check Re-order |
$10 |
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Non-Sufficient Funds (NSF) - ACH and Check Deposits
|
$30 |
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Research Fee |
$25 |
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Returned Money Market Check |
$30 |
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Returned Mail***
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$2 |
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Stop Payment
|
$30 |
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Wire Investigation |
$50 |
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Wire Recalls/Returns |
$30 |
|
Wire Repairs/Amendments |
$15 |
** Fees may apply if original username has
subscribed software data feeds
** We reserve the right to refuse acceptance
of any submitted stock certificates. Processing of stock certificates usually
takes a minimum of 15 business days.
*** Each piece of mail returned mail will be a
$2 charge including statements and confirmations.
**** Any securities that can clear through the
DTC's Direct Registration System (DRS) should be withdrawn via DRS transfer
rather than a physical Stock Certificate. DRS eligible securities withdrawn by a
physical Certificate can only be sent via Rush Delivery.
MB Trading Fees are as of 2012 and are subject to change. For most recent information go here:
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