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Partner Programs

MB Trading (MBT) and MB Trading Futures (MBTF) users must review the following Provisions and indicate their agreement to these provisions by clicking "I agree" below.

MBT and MBTF provides third party links and software applications solely as a convenience or for educational or informational purposes to its users. MBT and MBTF customers / users must review the following Provisions and indicate their agreement to these provisions by clicking "I agree" below.

MBT and MBTF, including its officers, members or employees, may: (1) have an affiliation with independent third party providers; (2) have direct or indirect control over independent third party providers; and/or (3) have discretion to alter the content of any third party link or software application.

MBT and MBTF does review the content of third party websites for compliance with federal, state or SRO rules or regulations regarding promotional material including advertising unless, otherwise not required by regulation. By linking to any third party website, you acknowledge and affirm that upon clicking on a third party link, you will immediately leave a website maintained by MBT and MBTF. You further acknowledge that all websites accessed through any third party application are not controlled by MBT and MBTF, except for MBT and MBTF’s website.

MBT and MBTF does not warrant the timeliness, accuracy or completeness of any facts, material or information contained on any third party website that is outside the control or knowledge of MBT and MBTF. Moreover, MBT and MBTF does not warrant the functionality of any third party application downloaded from its website. By clicking on any third party link or downloading any third party application, you hereby confirm and agree that MBT and MBTF shall not be responsible or liable for any loss or damage caused by use of or reliance upon facts, material or information obtained through the use of the third party website or application or for any loss or damage caused by use of a third party application.

Any opinions or recommendations expressed on any third party website or within any third party application are solely those of the independent providers and are not the opinions, recommendations or necessarily the views of MBT and MBTF. Furthermore, MBT and MBTF does not provide any legal, tax, accounting or investment advice concerning the suitability or profitability of any security or investment information contained on the third party website. Such links do not constitute a solicitation by MBT and MBTF to buy or sell any security or other investment.

MBT and MBTF reserves the right, in its sole discretion, to add or discontinue third party links or software application downloads on its website at any time and for any reason. Trademarks, logos, and service marks represented on this website are trademarks of their respective companies. Permission was granted for their use.

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Options: Misc Fees

  Transfer Fees
  ACAT Transfer Incoming FREE
  ACAT Transfer Outgoing $50
  Check Request Standard Delivery FREE
  Check Request Overnight Delivery $20
  Check Request Overnight Delivery (International) $30
  DTC Transfer Incoming FREE
  DTC Transfer Outgoing $25
  Rejected ACAT / DRS / DTC Transfer fee $125
  Internal Journal Transfer FREE
  Wire Transfer Outgoing (Domestic) $15
  Wire Transfer Outgoing (International) $50
  ACH Recalls/Returns/Reversals $30
  ACH Correction $5
  Non-Sufficient Funds (NSF) - ACH and Check Deposits $30
  Stop Payment $30
  Wire Investigation $50
  Wire Recalls/Returns $30
  Wire Repairs/Amendments $15


 Trade Related Fees
  Change Orders FREE
  F-Stock Trade Clearance
F-Stock Trade Clearance $50.00 per symbol/day
Effective October 15, 2012, Apex will begin assessing a fee of $50.00 per symbol, per account, per day on all trades of five-letter symbols ending in “F” (F-stocks), regardless of listing or settlement location. For example, if the customer buys and sells the same security in the same account on the same day, there will be one fee. If the customer buys the same security multiple times in the same account on the same day, there will be one fee. The fees will be posted T+1 and will be assessed regardless of equity in the account. Fees for trades that take place in DVP accounts will be assessed to MB Trading.
$50.00 per symbol/day
  Option Regulatory Fee (ORF)
Option Regulatory Fee (ORF) $0.0401 per option contract
The ORF is a pass-through exchange fee collected by MB Trading on behalf of the U.S. option exchanges. The purpose of the fee is to assist in offsetting exchange costs relating to the supervision and regulation of the options market. The fee was initiated by the CBOE in mid-2009, by each of the BOX, ISE and PHLX in January 2010, by AMEX and ARCA in May 2011, by Nasdaq in January 2012 and by C2 in August 2012. The ORF is assessed on all trades, both buys and sells, in addition the MB Trading commission charge as well as any existing exchange fees.
$0.0401 per option contract
  GTC Orders FREE
  Hard-to-Borrow (HTB) Fee
Varies

Please be aware that any equity that you “short” can be subject to added fees. Equity symbols that are on the "Easy to Borrow" list do not automatically qualify them to not be charged added fees. While this is subject to change the current fee to short any of the Equity symbols that are not on the “Easy to Borrow” list will range from 0% to 5% per year. All fees are calculated daily and the interest rate could increase and vary from day to day.

Intra-day locates for stocks that are not on the Easy to Borrow list are subject to the same fees with the initial percentage being 0% or greater.

Fees can change daily and are in addition to the Margin fees that are applied separately to all short positions held overnight.

SEC revised its short sale regulation regarding the prohibition of short sales of financial company stocks which, among other things, amended the list of securities which are to be covered. Pursuant to the short sale rules, Apex is required to borrow shares to make delivery and in doing so, incurs charges, which is passed through to your account. Each security’s availability vary day to day, in addition rates may vary as well. For more information related to the SEC Short Sale Rule, please visit SEC’s website at http://www.sec.gov/.

  MBTX Advanced Orders FREE
  NSCC Illiquid Charge
$250.00 for each trade

Beginning July 2, 2012, Apex is implementing a fee of $250.00 for each trade that creates an illiquid charge as determined by the National Securities Clearing Corporation (NSCC). Please note that this fee is in addition to the interest charge that is applied to the customer account whose trade had created an illiquid charge. Please see below for the criteria of an illiquid trade.

Illiquid Charges Regarding transactions that could potentially create illiquid charges the following criteria should be used as a general guideline.

Eligible Transaction Types

  • Cash, Margin, Shorts, or DVP

Eligible Listings

  • OTC BB or Pink Sheets

Eligible Price Range

  • All stocks regardless of their price are eligible for illiquid charges.

Buy Side

  • Open net buy quantity represents the total unsettled share amount per stock at any given time during a 3-day settlement cycle.
  • Open net buy quantity must be less than 5,000,000 shares per stock for the entire firm.

Sell Side

  • Open net sell quantity represents the total unsettled share amount per stock at any given time during a 3-day settlement cycle.
  • Open net sell quantity must be less than 30% percent of the 20-day average volume for the entire firm.

F” Shares

  • All OTC equity symbols are issued by FINRA and follow the standard four character symbol convention used by NASDAQ.  A fifth character is used to indicate a particular security type or status.  An “F” indicates that the stock is a Foreign Issue.
  • The manner in which transactions are processed by NSCC in “F” shares is different from other OTC stocks therefore a different formula is applied.

“F” Share - Sell Side

  • Open net sell quantity represents the total unsettled share amount per stock at any given time during a 3-day settlement cycle.
  • Open net sell quantity must be less than 5,000,000 shares per stock for the entire firm.

“F” Share Buy Side

  • Open net buy quantity represents the total unsettled share amount per stock at any given time during a 3-day settlement cycle.
  • Open net buy quantity must be less than 30% percent of the 20-day average volume for the entire firm.

Enforcement

  • Should you exceed these parameters, one or more trades may be subject to immediate buy-in.
  • On a daily basis Apex quantifies and records all customer and/or proprietary accounts whose trading activity has created an illiquid charge as per the calculations by the National Securities Clearing Corporation.
  • Apex reserves the right to close any customer account whose trading activity has created illiquid charges. As a general guideline, Apex will allow a customer to create an illiquid charge on three occurrences from the date of the account opening until the present time. After the third occurrence, Apex will restrict all trading activity in the account. The account closure may include related accounts if they are holding similar securities..
  • The above is a guideline. If an unusually large illiquid charge is created by a customer on their first occurrence Apex may immediately restrict trading.

Interest Charges

  • For trading activity that triggers an NSCC illiquidity charge, Apex will charge interest at a minimum overnight rate of 15% on the illiquid requirement generated by the customer account in addition to the fee charge that is applied.
  • In the case of DVP accounts, Apex will charge MBT’s proprietary account.
  Order Cancellations* FREE
  Broker Assisted Activity (Call in Trades, Option Exercise, Short Buy-in)* $35 per trade + Commission
  SEC Transaction Fee (Sell/Short orders only)
SEC Section 31 Fee $22.10 per million
This fee is paid to the SEC (Securities Exchange Commission) and is based on the total dollar amount of securities sold. To calculate the fee, multiply the aggregate dollar amount of sales by the current fee rate (0.0000221). The resulting figure should then be truncated at the fifth place after the decimal point and then rounded up to the next cent. For more information please visit the FINRA website.
$22.10/million
  FINRA Trading Activity Fee (Sell/Short orders only)
FINRA Trading Activity Fee $.0.000119 per share
The FINRA charges a Trading Activity Fee (TAF) to ensure adequate funding levels for its member regulatory program. All equity transactions (including Bulletin Boards and Pink Sheets) incur an additional $0.000119 per share charge (maximum of $5.95 on a 50000 share order), while option transactions will incur an additional $0.002 per contract charge and bonds incur a $0.00075 per bond for each sale, regardless of commission plan. For more information please visit the FINRA website.
$0.000119/share
  Non-DTCC Eligible Security Fee
Non-DTCC Eligible Securities List $150

Please be advised the enclosed list includes all Non-DTCC Eligible Securities deemed by Apex, however this list may be subject to change as the qualification of certain securities may change. DTCC deems a security non-transferrable when a security does not have a transfer agent or company contact for a period of six years or more. DTCC imposes monthly charges to all participants holding non-transferrable securities.

Effective March 18, 2013 , Apex will be instituting three new policies for processing physical securities:

1. Apex will eliminate processing receipt and deposit of equity securities trading on the Pink Sheets or Bulletin Board. Presently, free shares are received into customer accounts through three methods: Direct Registration (DRS), Deposit, Withdrawal at Custodian (DWAC) and physical receipt. Apex will no longer accept free receipt of Bulletin Board or Pink Sheet securities through any of these methods.

2. As trade settlement costs for securities not eligible for processing at DTCC have increased significantly, Apex will pass through costs for this process by charging for trade activity that results in a physical settlement in any non-DTCC eligible securities, which currently includes the securities on the enclosed list but is subject to change. The accounts subject to this charge will be those with a daily change in trade date position for securities that are non-DTCC eligible. Apex will evaluate trading activity in each account and identify activity that results in a settlement. Trading activity that nets to zero on a daily basis will not result in a physical settlement. Apex will process a fee of $150.00 in each identified account on trade plus one.

3. Apex will review incoming ACATs for these securities on enclosed list and may take additional action based on the review, including rejection of the incoming account.

4.Restricted securities or securities registered in client name and held on Apex's books and records can no longer be removed from the client account via a Non-Transferable or Penny for Lot request, clients can request to have the certificates returned to the account address of record, subject to the fee for the return of the certificates.

For further information concerning non-DTCC eligible securities, please contact MB Trading.

$150
  Direct Routes $0.0075 per share
  Voluntary Corporate Action
  (Rights, Warrants, Tender Offers, etc)
$25 per request/sym/account + Commissions
  Mandatory Corporate Actions FREE
  Margin Sell Out Fee $25
  Short Forced Buy-in $25
  Options Assignment FREE


  Securities Processing Fees
  ADR Holding $.03 per share per year
  DRS Processing (Outgoing) $115 / per security
  DWAC Processing (Incoming/Outgoing) $30
  DWAC and DRS Processing
  (Incoming/Outgoing)
$30
  Statement Withdrawal $30
  ESOP Trades $125
  Foreign Transfer of Canadian Securities per certificate $50
  Physical Stock Certificate Deposit** $75 per cusip/deposit
    Physical Stock Certificate Safekeeping per Quarter $15 per account per cusip
  Physical Stock Certificate Deposit into Safekeeping $7.50 per deposit
  Physical Stock Certificate Withdrawal from Safekeeping $60 per withdrawal
  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
  Restricted Stock Processing $125 per cusip/deposit
  Rush Transfer and ship $350 per security
  Worthless / Non-Transferrable Securities

If DTCC deems a security worthless and non-transferable when a security has no transfer agent or company contact for a period of six years or more. DTCC will charge all participants for holding this position monthly. To have this removed from account, please send an email to [email protected]. Restricted securities or securities certificates registered in client name and held on Apex's books and records can be requested to be returned to the account address of record but will be subject to associated fees for the return of the certificates.

$7.50 / month
  Warrant Exercise $125
  Worthless Security Reinstatement $15 / per cusip


  Check Writing (Cash Management Services) Fees
  Spectrum Checks Only $30
  Spectrum Checks w/ Gold $60
  Gold Card Only $30
  Spectrum Checks w/ Platinum $75
  Platinunm Card Only $45
  Spectrum Reorder Fee/150 non-duplicate $15
  Access Reorder Fee/15 non-duplicate $5
  Stop Payment $35
  Returned ACH $35
  Returned Check $35
  Check Copy $15
  Salesdraft Copy $15
  Domestic Overnight for Checks $45
  Domestic Overnight for Cards $45
  Visa Currency conversion fee for debit
  transactions with foreign merchants
3%
  International Overnight (all international items are sent to BPO for mailing
  the customer is charged the fee that Apex is charged by UPS.
 The average rate is $85.00.
Standard UPS fee charged to customer


  Miscellaneous Fees
  Additional Username* FREE
  Historical statements/confirms Dated October 2012 and after $.005 per page, $30 minimum
  Historical statements/confirms Dated prior to October 2012 $.005 per page, $30 minimum
  IRA Annual $30
  IRA Closing $20
  Legal Items (Garnishment, Levy processing, etc). $25
  Paper Trade Confirms $2.00 per confirmation
  Paper Monthly/Quarterly statements $5.00 per statement
  Research Fee   $25
  Returned Mail*** $2

* Broker Assisted Activity fee waived for technology issues originating with MB Trading.