Pricing Commissions Fees Rates York Securities

Pricing

Categories:

Commission Schedule:

Equities (Stocks & ETFs):
- Telephone: Call for telephone commission rates: 800-221-3154 / 212-349-9700. (Subject to a minimum commission of $35.00 per trade)
- Online: Online orders will receive a discount of at least 10% versus the telephone rate. (Subject to a minimum commission of $31.50 per trade).
- Pre and Post-Market: These orders must be placed via telephone. Call 800-221-3154 / 212-349-9700 for commission rates.
- OTC Foreign Settlement Stocks: An $50 international clearance fee (in addition to the regular commission) will apply for DTC eligible stocks dually listed on the OTC Bulletin Board/Pink Sheets and foreign stock exchanges or markets. These stocks predominantly have a 5-letter symbol ending in "F".
  Non-DTC eligible stocks carry a $100 international clearance fee (in additional to the regular commission). Contact us prior to placing an order to see if an OTC foreign stock is DTC eligible.
  Effective 9/24/18, orders will no longer be accepted for securities with a country of settlement in restricted markets (countries). See List.
Options:

Telephone: Call 800-221-3154 for telephone commission rates. (Subject to minimum commission of $35 per trade).
Online: Call 800-221-3154 for details. Online orders receive a 10% discount off the telephone rate. (Subject to minimum commission of $31.50 per trade).

Note: Options carry a level of risk and are not suitable for all investors. Certain requirements must be met to trade options through York Securities. Before considering any transaction, please read the disclosure document/booklet called the Characteristics & Risks of Standardized Options. Contact YORK at 1-800-221-3154 (or fax, mail, or E-mail your request to: info@yorksec.com) for a copy of this document.

Bonds:

Corporate or US Treasuries (Bills, Notes, or Bonds): $.75 per bond (Subject to minimum commission of $35 per trade).

Prices are not marked up or down. (York acts as agent, not as principal). Orders for bonds must be placed via phone: 800-221-3154 / 212-349-9700.

Mutual Funds:

Load: A front-end (or back-end) load, which is determined by the respective prospectus, is charged when purchasing (or selling) a load fund.
No-Load: There is a $21.95 commission to buy or sell a no-load fund.

Mutual Funds page

Investors should consider the investment objectives, risks, charges and expenses of the investment company carefully before investing. To check this or any other information about a specific mutual fund, please request a prospectus from the fund company or York Securities, to read thoroughly before entering an order.

Sale transactions will include the industry-wide Security Transaction Fee at the rate of $20.70 per $U.S. million. (Fee is in accordance with Section 31 of the Securities Exchange Act of 1934. Rate effective 04/15/2019).

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Margin requirements for margin approved securities:

General Margin Requirements for various types of securities.

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Check Writing/Debit Card (Optional Features)

Cash Plus Account:

Cash Plus is an asset management account (AMA) that offers check writing, debit card, and online bill pay.
There is a $60 annual fee charged at inception and upon annual anniversary*. (*Waived for accounts with an average credit balance exceeding $25,000 or an average debit balance exceeding $25,000.)

For those residing outside the United States, the cost of shipping the debit card or check book via United States Postal Service Priority Mail International Flat Rate Envelope, will be passed along to the brokerage account at cost.

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Ancillary Fees:

Transfers/Withdrawals

Service:                           Details:

Account Transfer Out- ACAT:        $95 per full or partial account transfer to another financial institution.

DTC Transfer Out:                  $30 per position transfer to another financial institution.

DRS Transfer Out:                  $75 per stock. Transfer of account registration to a stock's transfer agent.

Security Transfer Failure:         $20 per occurrence. Applicable to each security with a failed DRS/DTC transfer request.

Overnight Check:                   $40 per check. Use of overnight courier for check withdrawals. $75 outside USA.

Trust/Estate Dissolution:          $100. Potential fee to distribute or withdraw securities or cash from a trust or estate account. Contact us for details.

Wire Transfer:                     $30 per $USD transfer to another financial institution via Federal Funds Wire. ($75 via international SWIFT wire outside USA).

Stop Payment of Check:             $30 per check stopped. Placing a "stop payment" on a check written off the brokerage account balance.

Returned Checks/ACH:               $40 per occurrence. Checks or ACH items attempted for deposit, and rejected for insufficient, uncollected funds, etc.

Foreign Stocks, Options, & Currencies

Service:                           Details:

Foreign Receive & Deliver:         $75 per transfer. The receipt or delivery of a OTC Foreign stock (with a 5-letter symbol), from or to another broker.

Reg.S GDR/ADR Foreign Custody:     $.02-$.05/share. Annual fee by transfer agent to hold Regulation S Global Depositary Receipt or ADR.

Reg.S GDR/ADR Foreign Process:     $.01-$.03/share typically. Agent charge for Reg. S Global Depositary Receipt/ADR distribution, as of record date.

French/Italian Financial Tax:      0.30% of principal for French Government tax to purchase ADR or options of companies from that country. 0.22% for Italy.

Non-DTC Foreign Custody:           $2.00 per position per month. To hold non-DTC eligible foreign stock (usually 5-letter symbol ending in "F").

Currency Conversion:               $15 per foreign currency conversion to $USD.

IRA/Retirement

Service: Details:

IRA Maintenance*: $55 per IRA per calendar year. Charged annually, on or about Nov 29th.

*Refunded to existing customers, whose IRA generated at least $50 in annual commissions, or maintained an average cash balance over $15,000. Fee is applicable and non-refundable to IRAs terminations.

IRA Termination: $95 per account. Closing or transfer of a retirement plan.

Paper/Postage (Applicable if not registered for paperless electronic delivery.)

Service: Details:

Paper Monthly Statement: $1.75 per statement within USA. $4.25 outside USA.

Paper Year-End Tax Statement: $3.00 per Form 1099 for domestic tax payers. $3 per Form 5498 for those who contributed to an IRA. $4.25 per tax form mailed outside the USA.

Paper Prospectus: $2.50 plus applicable postage.

Duplicate Statement/Tax Form: $5 per duplicate monthly statement or tax form published 2020 and later. $10 for each statement/tax form before 2020, if available.

Stock Certificate Deposit: $10, plus any applicable pass-through fee from Transfer Agent (historically $30-$55). Contact us prior to submitting.

Returned Mail Administration: $3 per piece of returned mail (i.e. monthly statment) with in USA, due to an invalid postal mailing address. $5 outside of USA.

Other

Service: Details:

Mandatory Reorganization: $15 per security issue. Reorganizations whereby an owner must participate, such as mergers, spin-offs, splits, etc.

Voluntary Reorganization: $35 per security issue. Reorganizations such as tender offers, conversions, etc., where the holder may elect to participate.

Please note, while most issuers send notifications about pending reorganizations on a timely basis (whether electonically or postal mail), some may not. York Securities is not responsible for any missed, late, or non-notifications.

UBTI IRA Tax Return Processing: $200 to file form IRS 990-T for IRAs with partnership securities having unrelated business taxable income of $1000 or more.

Transfer on Death (TOD): $60 to open, edit, or convert to a TOD account registration.

W-9 IRS Taxpayer ID Mismatch: $10. When an account holder's name and social security number provided on the new account application or W-9 does not match IRS records.

1099 IRS B-Notice: $100. Annaul notification from the IRS to payers, when the recipients social security number which was provided, does not match IRS records.

W-8BEN Validation: $60 to validate a newly submitted updated W-8BEN. Fee applicable to those residing outside the USA.

Sub-Penny Stock Holdings: $1, per 1 million shares, per month, to hold stocks valued under 1 cent per share. (No cost for holdings under 1 million shares).

Regulation-T Extension: $25 to file a Reg-T extension for clients failing to pay for purchases by settlement date.

Short Sale Interest/Locate Borrow: Varies per short position. See 'Short Sale Interest Borrow Charge' section below for details.

Non-Marketable/Low Value Disposal: $10 per disposition of a security that is worth less than $10 in principal value.

Cash Account Debit Balance Charge: Varies. Post settlement interest charge for cash account debit balance. See Cash Account Debit Balance section below.

Free Riding Trade Removals: Any resultant loss due to the removal of trades from an account having a free riding violation (caused by improperly using unsettled funds).

Inactive Accounts: $60 per account. Charged annually to inactive accounts, based upon the one year period ending July 15th 2024. Details below.

Inactive Account Fee Details:

   An inactive account would meet the following criteria:
   • The account has had no settled trades subject to a commission or load charge, during the one-year period ending July 15th 2024.
   • The account had margin (debit) interest of less than $100 for the one-year period ending July 15th 2024.

   The following accounts are exempt from inactive account fees:
   • Accounts executing at least one trade (subject to a commission charge) that settles during the one-year period ending July 15th 2024, exclusive of dividend reinvestment trades.
   • Accounts that generated at least $100 of margin (debit) interest during the one-year period ending July 15th 2024.
   • Individual retirement accounts (IRAs), and other qualified retirement plan accounts for which our clearing agent acts as custodian.
   • Accounts that maintain a net cash credit balance of at least $10,000 during the one-year period ending July 15th 2024.
   • New Accounts opened during the one-year period ending July 15th 2024.

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Account Minimums:

$500 initial minimum for a cash account.
$2000 minimum equity requirement to initiate margin trading. The requirement may be met with cash or marginable securities. In a cash account the anticipated dollar amount of the purchase must be deposited before an order will be accepted.
If a withdrawal request is made that would bring the account equity below $500, it shall be considered an intention to close the account. Therefore all securities would need to be liquidated (or disposed of), or transferred, before the cash withdrawal request would be processed.

Low Priced Security Good Faith Deposit:
For accounts owning stocks with insignificant value, a good faith deposit (GFD) of $60 is required, plus $20 for additional positions. (i.e. own 3 stocks with insignificant value, GFD=$120). This is not a fee charged up front, rather it is money set aside in an account, which could be used to pay a future commission charge or uneconomical sale processing.

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Interest Rates:

Margin Interest Rates:
Whether used to buy additional securities or to take out a loan, for any debit balance carried in a margin account, interest shall accrue on a daily basis, and will be charged monthly. The interest rate to be charged is based upon the official Broker Call Rate. (The broker call rate is published in financial newspapers). The margin interest rate charged to an account is based upon the current debit balance.
See below table for tiers...

MARGIN INTEREST RATE TABLE

Debit Balance	Interest Rate
$0--$14,999	Broker Call +3.25%
$15,000--$49,999	Broker Call +3.00%
$50,000--$99,999	Broker Call +2.25%
$100,000 & over	Broker Call +1.75%

Disclosure: Use of margin leverage entails risk, and may not be appropriate for all investors. Not all securities are marginable. York Securities does not provide investment advice. All orders are unsolicited. Visit the Forms page to obtain a Margin Agreement & Disclosure Statement, or contact us with any questions.

Short Sale Interest Borrowing Charges (Stock Loan Fee):
For short sales on stocks, there may be interest-like fees (known in the industry as "negative rebates") associated with carrying the short position. This interest will accrue from settlement date of the short sale until settlement date of the buy-to-cover. The charge will levied at the end of the month. The description of the entry will reference a Stock Loan Fee (STK LN FEE).

The formula for the interest calculation will be: (Market Value x Rate x # of days) / 360. For example: ($10,000 principal x 1% interest rate x 7-day holding period) divided by 360 days = $1.94.
i.e. Feb 1st, sold short 400 XYZ Corp at $25 per share. Feb 7th, bought to cover 400 XYZ at $25 per share. In the above example, a $10,000 short position, with a 1% rate, was held for seven days, before covering. At the end of the month, a fee of $1.94 would be charged to the account.

Most easy-to-borrow (ETB) stocks have a nominal interest rate charged in order to carry the position. Stocks considered hard-to-borrow may have a significant interest rate charged in order to carry the position, in addition to a "locate fee" for finding stock for shorting. The entry on you activity screen/monthly statement will read to the effect "Stock Loan Fee (STKLNFEE)".

If you would like to find out the possible interest rate (if any) for a particular stock, please contact us before entering a short sale order.

Cash Account Debit Balance Interest Charge:
A negative balance in a Cash account is subject to an interest charge. Interest on any debit balance will start accruing after settlement date of a purchase. It is possible a debit balance may also be created as the result of a fee charge. The interest rate shall be equal to the Axos Clearing Base Lending Rate (PBLR) plus 300 basis points.

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Fees are subject to change.