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AutoShares

Pricing

Self-Directed Online Brokerage Accounts


Stocks
and ETFs

$ 0.00 base commission
applicable clearing, exchange, and regulatory fees.
Trade from web platforms, mobile apps, and API.

Self-Directed Options Trading

Options

$0.65 per contract rate
+ applicable clearing, exchange, and regulatory fees.
Trade from web platforms, mobile apps, and API.

Self-Directed Autotrade Execution

Autotrade
Accounts

$4.95 per transaction
applicable options, clearing, exchange, and regulatory fees

* 0 base commission rate refer to the base commission charge for online brokerage accounts that trade U.S. listed stocks and ETFs. Additional fees including options per contract, exchange, clearing, routing, and regulatory fees apply to all opening and closing trades, including subscription plans or special pricing deals. All CBOE Proprietary Index and options products including SPX, RUT, VIX, NDX, OEX, XEO, DJX, and XSP are charged a base contract rate plus proprietary index and exchange-related fees. For a list of applicable CBOE ETF, ETN, EQUITY, and VENUE FEES: Go Here. Multiple-leg options strategies such as spreads are charged per each leg of the transaction executed.
**Pricing is subject to change at any time

Transfer an Existing Account to AutoShares 

Upload Brokerage Account Statement with account activity and fees for a competitive offer.

Self-Directed Online Brokerage Accounts + Autotrade Execution

AutoShares provides self-directed online brokerage accounts for online investing and automated trade execution in Options, Stocks, and ETFs.

AutoShares and its availability are not to be considered as an offer to buy or sell securities and nothing contained on this website should be interpreted as a recommendation regarding any investment or investment strategy. All transactions and automated trading settings are controlled by you, the account holder.

Investing involves serious risks and past performance is no guarantee of future performance or success. Options involve a high degree of risk and are not suitable for all investors as the special risks inherent in options trading may expose investors to potentially significant losses. Please read the Characteristics and Risks of Standardized Options before deciding to invest in options.

INVESTMENTS: ARE NOT FDIC INSURED • MAY LOSE VALUE • ARE NOT BANK GUARANTEED

Rates and fees are subject to the following guidelines

Standard rates are listed above. A default rate is established for each independent non-pro brokerage account opened by a customer. Any customer-negotiated rates must be approved by AutoShares. Pricing and rates do not automatically adjust. Rate updates will begin following the date of approval and are not retroactive. No rebates are issued for past trading activity. Customers may utilize a promotional offer or request a rate update which will start following the update approval for future trading activity.

Special Offers

Any special offers or pricing deals we offer that are not accepted by the client by opening and funding an account within 30 days are automatically considered voided. After 30 days the offer would go back to the default rates listed above. Rates as shown may not be valid with any other special offer or with other negotiated rates.

Clearing Fees

Stocks

All stock trades incur a clearing fee of $0.0008 per share
ex: 100 shares = $.08 clearance fee Stock and ETF Buys
Clearing Fee: $0.0008/share

Stock and ETF Sales
Clearing Fee: $0.0008/share
FINRA TAF: $0.000119/share (per-transaction cap of $5.95)
SEC Fee: $0.0000229 x number of shares x trade price

Options

All options trades incur a clearing fee of $0.10 per contract
ex: 1 contract: $.10 clearance fee
Clearing Fee: $0.10/contract
ORF Fee: $0.02915/contract

Option Sales
Clearing Fee: $0.10/contract
FINRA TAF: $0.002/contract
SEC Fee*: $0.0000229 x number of contracts x 100 x trade price
ORF Fee: $0.02915/contract

  

REGULATORY FEES

* SEC, FINRA, TAF,  and any additional stock and options venue exchange fees are debited to customer trades in addition to applicable rates.
* OCC/ORF,  CBOE Proprietary Exchange Fees, and any applicable options venue fees are debited to customer trades in addition to any applicable rates.

Fee Type

Multiplier

SEC Sec. 31 Fee (Stocks)

$0.0000229 * value of aggregate sales rounded to the nearest penny
The total price of transaction * 22.90 / 1,000,000

FINRA TAF Fee (Stocks)

 

Finra TAF Fee (Options)

($0.00013) Covers sales of exchange registered securities whenever executed. Multiply this amount by the number of shares sold, $6.49 Maximum.

$0.00218 per contract for each sale of an option, $6.49 maximum

Options Regulatory Fee (Options)

($0.0034) per U.S exchange listed option contract

Options Clearing Corp

(OCC Fees)

Options Clearing Corporation
Click for per options contract pass through rates

  

 EXCHANGE FEES

STOCKS

RATES

AUTO

No additional charge*

ARCA

$0.003 per share

BATS

$0.003 per share

NSDQ

$0.003 per share

Market Center Routing Fees (Stocks)

* Customer stock orders routed to AUTO are billed at the commission rate with no additional routing fees. Customers directly routing orders to BATS, ARCA, NSDQ Exchanges during pre-market trading hours, regular market hours, and after regular market hours, are billed  .003 per share.

CBOE (Options)

CBOE PROPRIETARY EXCHANGE FEES

CBOE charges customers additional fees to trade products that are solely traded on their exchange. Proprietary Index Option fees are assessed on orders on a per contract basis. Proprietary Index Options fees are in addition to clearing and regulatory fees that apply to all opening and closing orders in CBOE proprietary products. For a list of applicable CBOE ETF, ETN, EQUITY, and VENUE FEES: Go Here

$SPX
$SPXW
$VIX

+.65 cents per contract

$RUT
$RUTW

+.18 cents per contract

$NDX
$DJX

+.18 cents per contract

$OEX
$XEO

+.40 cents per contract

**Routing fees are subject to change without prior notice. If necessary, we reserve the right to debit your account for any venue, routing, or exchange fees based on vendor changes in routing rates. We reserve the right to mark up or adjust any routing fees at our sole discretion. Clients trading on a per trade or per share rate plan is not eligible to receive rebates unless agreed to in writing by management. There may be other routes available that are not listed here, which may charge a fee. You should always call and check the fee on any route before using it. ORF and OCC Fees are assessed on all options trades and exchange fees are listed on the statement under transaction fees and additional fees.

Low Priced Securities

$.0002 per share with 5% notional value max.

Rule 606 Disclosure

The Firm, in its efforts to seek best execution, routes client orders to national securities exchanges, alternative trading systems (ATS’s), including electronic communications networks (ATS) and other market centers. Certain market centers offer credits (deemed payment for order flow) for orders that provide liquidity and may charge access fees for orders that take liquidity. In some cases, the credits offered by a market center may exceed the charges assessed, such that a market center may make a payment in relation to orders directed to such market center. In addition we route orders to broker-dealers who are market makers in securities.

Click for Routing Report Pursuant to SEC Rule 606

Margin Rates and Borrowing

If you need leverage, we can offer discounts on margin interest rates based on your margin debit balance. Margin interest is charged on a tiered rate structure. Margin interest rates are calculated based on the average daily margin balance and assessed monthly.

**Margin interest rates are subject to change at the sole discretion of the Firm and without prior notice.

Margin Rates**

< $25,000 – FFR+700 bps
$25,001 – $100,000 – FFR+600 bps
$100,001 – $250,000 – FFR+500 bps
$250,001 – $1 million – FFR+400 bps
$1 million – $5 million – FFR+300 bps
$5 million and above – FFR+200 bps

MARGIN DISCLOSURE STATEMENT: FINRA Rule 2264 

We are furnishing this document to you to provide some basic facts about purchasing securities on margin, and to alert you to the risks involved with trading securities in a margin account.

Before trading stocks in a margin account, you should carefully review the margin agreement provided by your broker. Consult your broker regarding any questions or concerns you may have with your margin accounts.

When you purchase securities, you may pay for the securities in full or you may borrow part of the purchase price from your brokerage firm. If you choose to borrow funds from your firm, you will open a margin account with the firm. The securities purchased are the firm’s collateral for the loan to you. If the securities in your account decline in value, so do the value of the collateral supporting your loan, and as a result, the firm can take action, such as issue a margin call and/or sell securities in your account, in order to maintain the required equity in the account.

It is important that you fully understand the risks involved in trading securities on margin.

These risks include the following:

• You can lose more funds than you deposit in the margin account – A decline in the value of securities that are purchased on margin may require you to provide additional funds to the firm that has made the loan to avoid the forced sale of those securities or other securities in your account.

• The firm can force the sale of securities in your account – If the equity in your account falls below the maintenance margin requirements under the law, or the firm’s higher “house” requirements, the firm can sell the securities in your account to cover the margin deficiency. You also will be responsible for any shortfall in the account after such a sale.

• The firm can sell your securities without contacting you – Some investors mistakenly believe that a firm must contact them for a margin call to be valid and that the firm cannot liquidate securities in their accounts to meet the call unless the firm has contacted them first. This is not the case. Most firms will attempt to notify their customers of margin calls, but they are not required to do so. However, even if a firm has contacted a customer and provided a specific date by which the customer can meet a margin call, the firm can still take necessary steps to protect its financial interest, including immediately selling the securities without notice to the customer.

• You are not entitled to choose which security in your margin account is liquidated or sold to meet a margin call – Because the securities are collateral for the margin loan, the firm has the right to decide which security to sell in order to protect its interests.

• The firm may increase its “house” maintenance margin requirement at any time and is not required to provide advanced written notice – These changes in firm policy often take effect immediately and may result in the issuance of a maintenance margin call. Your failure to satisfy the call may cause the firm to liquidate or sell securities in your account.

• You are not entitled to an extension of time on a margin call – While an extension of time to meet margin requirements may be available to customers under certain conditions, a customer does not have a right to the extension.

• The IRS requires Broker-Dealers to treat dividend payments on loaned securities positions as in-lieu dividends for 1099 tax reporting purposes – Taxation of substitute dividend payments may be greater than ordinary on qualified dividends.

 

Other Account Fees
Fee Schedule Effective January 1, 2021*

Account Access and Market Data Fee$10 per month
DK Items$20.00 per item
DK Items on
DVP Trades
$25 per item plus interest (FFR+5%)
Domestic Voluntary
Corp Actions/
Reorganization
$50 per cusip per account
DRS Transaction$75 per security
DTC
Free Deliveries
$2 per security
DWAC$75 per event
DWAC/DRS Reject$125 per security
Electronic delivery of
confirms/statement/tax doc
no charge
Electronic to physical
certificate conversion
$900 per security
Escheatment
Processing
$75.00 per account
Foreign Security
Free Deliveries/Receives
$50 per movement
In-Bound ACATSsno charge
Out-bound ACATs$75 per ACAT
In-coming Wire Feesno charge
International Voluntary
Corp Action/Reorganization
$100 per cusip per account
Involuntary ReorgsNo charge
Lost Certificate
Replacement
3% of certificate value ($250.00 minimum)
Low Priced Securities$0.0002/shr with 5% notional trade value max.
Margin Extensions$25 per event
Margin Sell out Fee$25 per ticket
Margin Rates**< $25,000 – FFR+700 bps
$25,001 – $100,000 –FFR+600 bps
$100,001 – $250,000FFR+500 bps
$250,001 – $1 millionFFR+400 bps
$1 million – $5 millionFFR+300 bps
$5 million and aboveFFR+200 bps
Non-transferable stock held$10 per month per stock
NSCC Illiquidity Fee$250 per trade plus 15% interest/annum on NSCC charge
Option Exercise/Assignment$5 per symbol per account
Out-going Wire Fees – Domestic$20 per wire
Out-going Wire Fees – International$30 per wire
Overnight mailas incurred pass thru
Paper check Draft (USD)$5 per check
Stop payments on Issued Checks$30 per check
Check Copies$15 each
Returned Checks/ACH Wires
Recalls including Amendments
$30 per transaction
ACH Notice of Correction$5 per notice
Confirmations$2 per confirm
Statements$5 per statement
Paper Prospectus Mailing$2.50 per mailing
TOD Account Transfer Fee$200 per transfer
Physical security depositsnot permitted / $500 if exception made
Physical Trade Settlement
– not always known upfront
$300 per security
Postage for Paper confirms$2 per daily confirm
Postage for Paper statements,
 tax docs
$5 per item
Reg 144 Salesfees will vary. Need to confirm in advance
Reorg Physical Processing Fee$125 plus transfer agent fees
Reorg Wire (UDS)$20 per item
Reorg Wire (International)$30 per item
Restricted Transfers$465 per security
Retirement Accounts$30 annual maintenance – $60 termination
Returned Mail$2 per item
Safe Keeping – certificates$5 per month per account per cusip
Short Buy-in Fee$25 per ticket
Standard Legal Transfers$150 per security
Stock Borrow FeeFee set by market – pass thru as incurred
Trade Corrections$10 per item

***ALL FEES ARE SUBJECT TO CHANGE WITHOUT NOTICE

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