Commissions
Earn
Frequent Trader Commission Bonuses
If you
incur more than $ 1,000.00 in commission during a
qualifying period*, you will receive Frequent
Trader Commission Bonus
If you
incur more than $ 1,000.00 in commission during a
qualifying period*, you will receive Frequent
Trader Commission Bonus
| If
during the qualifying period
commissions exceed $1,000 but are less than $ 2,000 |
You'll
get a 15% credit of the commissions in excess of $ 1,000 |
| If
during the qualifying period
commissions exceed $ 2,000 |
You'll
get a 20% credit of the commissions in excess of $ 1,000 |
Earn
free trades
At the end of the qualifying period we will credit your commissions
account with the bonus commissions earned.
Example:
If you have a bonus credit of $ 400 as a result of having
incurred $ 3,000 in commissions during the previous qualifying
period, all your trades the following period will be commission
free until the $ 400 bonus credit is exhausted.
From this point on your commissions earned begin accumulating
in order to provide you with additional bonus credits that
you can use during the next qualifying period.
* Qualifying
Period is defined by the dates between the beginning and the
end of your monthly statement period
| Equities
|
| All
NASDAQ / MKT Orders
(Less than 1000 Shares)
|
$
7.99 per trade
|
NASDAQ
MKT Orders above 1001 |
$7.99
|
|
All Other Orders - NASDAQ
limit, GTC, listed etc.color="#000000" face="Arial">
|
$7.99
per trade |
|
Options
|
| $8.99
Ticket plus $1.25 a contract
Option contracts start as low as $1.00 depending on
the volume. |
| Bonds |
Minimum
Charge $35
Lots Less Than 100 Bonds |
| Units |
Price
per Unit |
| $1,000 |
$5 |
| In
Lots of More than 100 Bonds Commissions are Negotiable
According to Size of Order, and Liquidity of Bond.
|
| U.S.
Government Zero Coupon Bonds used to implement
"Protective Hedging Strategies," are put in
the account
Free of Commission. Please ask us for details. |
| Schedule
of Miscellaneous Fees |
|
Money
Market Sweep |
Free |
|
IRA
Annual Fee |
$30.00 |
|
IRA
Termination |
$60.00 |
|
Regular
Account Setup |
Free |
|
Accommodation
Transfer
(if excessive) and for inactive accounts |
$50.00 |
|
Domestic
Money Wire Transfer (outgoing) |
$50.00 |
|
Foreign
Money Wire Transfer (outgoing) |
$55.00 |
|
Incoming
Wire Transfer |
Free |
|
Overnight
Check Request |
$25.00 |
|
Check
Request Reg. Mail |
Free |
|
ACAT
Transfers Out |
$150.00 |
|
DTC
Transfers |
$50.00 |
|
Closing
of Account |
$50.00 |
|
Fed
Call Extensions |
$20.00 |
|
Buy-in/Sell-out
Notice |
$20.00 |
|
D.K.
Charges |
Interest
Only |
|
Late
Payment in Cash Only |
Interest
Only |
|
Yearly
Inactivity Fee |
$100.00 |
|
Service
Charge/Handling/ Postage |
Pending
Electronic Confirmations |
|
Cancel/Corrects |
$20.00 |
|
Options
Exercise & Assignment |
$25.00 |
|
Request
for non-current Statements |
$15.00 |
|
Current
Margin Interest |
Varies
daily according to published Broker Call Rate |
|
Free
Credit Balances |
Varies
daily according to Money Market Rate |
|
Checkbook: |
Free
Initial Order of 25 Checks. To reorder an $8 fee will
be charged. |
|
Visa Card |
Free
(annual fee apply - Classic $45 and Premier $75 |
|
Returned
Checks |
$25.00 |
|
Stop
Payment Requests |
$25.00 |
|
Certificate
Issuance |
$25.00 |
|
"Double
Ticket Charge" for missing documents |
$20.00
/ trade |
|
Legal
Transfers-Restricted Securities |
$150.00 |
|
Legal
Transfers-Standard |
$150.00 |
|
Miscellaneous
Services Rendered |
Varied |
|
Stock
Certificate Handling Fee |
$25.00 |
|
Cash
/ Margin Call Letters |
$5.00 |
|
Physical
DVP |
$15.00 |
|
Extensions |
$25.00 |
|
Voluntary
Reorganization Transfer |
$25.00 |
|
Post
Actionable Reorganization |
$50.00 |
|
Transaction
on Restricted Account |
$20.00
/ trade |
Money
Market Funds and Credit Interest
We
provide an automated sweep to the Federated Money Market Fund
of your choice. Currently there are four primary funds available,
including tax free municipal portfolios. For non U.S. citizens
and non U.S. residents there is an offshore money market fund.
All balances are swept daily. Customers not electing to invest
in Federated Money Market Funds will be credited the competitive
rates U.S. Clearing pays less 150 basis points. To obtain higher
rates on cash balances please ask us about the range of cash
management services that include Treasury Bills, Commercial
Paper, Primary and Secondary CD's as well as other strategies
of varying degrees of risk.
Excess SIPC Coverage
This additional insurance policy becomes available to customers
in the event that SIPC limits are exhausted and provides protection
for securities and cash up to an aggregate of $600 million.
This is provided to pay amounts in addition to those returned
in a SIPC liquidation. This additional insurance policy is limited
to a combined return to any customer from a Trustee, SIPC and
London Underwriters of $150 million, including cash of up to
$2 million. This new additional insurance does not protect against
a loss in the market value of securities.
How is my customer’s account protected with “excess
SIPC” coverage?
Customer accounts are protected in the event that SIPC limits
are exhausted. The additional insurance becomes effective after
the implementation of SIPC coverage. The coverage is in place
to protect the customer in the event of a theft, misplacement,
destruction, burglary, embezzlement or abstraction of customer
securities. It does not protect the customer from declining
changes in market value.
What triggers SIPC and “excess SIPC” coverage?
Three things must happen for SIPC and “excess SIPC”
coverage to be triggered:
•There is a financial failure and a liquidation of the
carrying Broker Dealer
• Securities/Cash are missing from an account
• SIPC pays each client in accordance with their pro-rated
share of the loss, up to $500,000 per account (of which $100,000
may be cash)
What is the amount of coverage that the London Underwriters
provide?
This additional insurance policy is limited to a combined return
to any customer from a Trustee, SIPC and London Underwriters
of $150 million, including cash of up to $2 million. A $600
million aggregate limit applies as well, which is the most that
the London Underwriters will pay in the event of liquidation.
Are Money Markets held in the brokerage account considered
securities and if so, are they protected under this policy?
The answer to both of the above questions is yes. Money Market
Funds are held in the brokerage account as securities and are
considered separate from cash held in an account.
Are assets purchased by customers through us, but held
away, covered under this policy?
Assets purchased by brokers of your firm, but not held in the
brokerage account or held by Ridge Clearing as your custodian,
are not covered by this policy. Examples of this are mutual
fund purchases held directly with the fund companies, or annuities
held directly with the insurance carrier. For information about
the security of these types of assets, please check directly
with the carrier.
Margin Lending Rates
Margin Lending
Rates vary based on the current Federal Reserve Broker Call
Rate. Rates also vary depending on the size and the volume of
the account. Please consult us for current rates and further
details.
E-mail:newaccounts@wallstreete.com
Toll Free: 1-888-WALL-STE (1-888-925-5783)
Telephone: (305) 266-9120
Fax: (305) 442-2616
Other Charges
If a charge for a particular service
we perform on your behalf is not covered in this schedule it
will be negotiated as it occurs.
For stock orders placed through a live representative there
is a $ 20 surcharge. For options orders placed through a live
representative there is a $ 20 surcharge plus $ 1/contract.
If you are a client of WSE through one of its Independent Brokers/RIA's
please be advised that the above stated commissions may differ
according to the arrangement you may have with your broker.
Please contact your Broker/RIA for additional information.
The Schedule of Miscellaneous Fees (wires, closing account,
ACAT etc.) applies to all clients of WSE as well as clients
of independent Brokers/RIA's of WSE.
For Commissions on Mutual Funds, Government agencies, Money
markets, Precious metals, Mortgage Backed W/I, UITs, etc.
please call 1-888-WALL ST.E (925-5783).
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