Other Fees

Universal

Corporate Actions/Dividends


The following represents fees charged by BMC for the processing of Corporate Actions affecting securities in your portfolio.

Universal
Type Fees
Requests to exercise Dissenter or Appraisal Rights $100 + external costs
Hong Kong Stock Tenders for Cash 0.1% Stamp Duty
All Other (Mandatory, Voluntary, With Options, etc) Free


Exercise and Assignment 1


Universal
Product Fees
Stock Options No fees
Non-US Index Options Charged standard option commissions on exercise or assignment.
No charges on lapsed/expired contracts.
Futures / Futures Options Charged the standard futures or futures options commission at expiration of the contract.

Notes:

  • 1. BMC does not charge an option exercise or assignment fee. Certain transactions are subject to the standard commissions for the applicable product.


ADR / GDR (American or Global Depository Receipt) Fees

Various Central Securities Depositories such as the Depository Trust Company (DTC), Euroclear or Clearstream collect custody fees on behalf of ADR/GDR agents for DRs which do not pay periodic dividends. The fees are deducted by the applicable depository in standard billing and will be passed to accounts which held the ADR/GDR on the record date.

For additional information on the fee BMC recommends that you consult the ADR/GDR prospectus.

Universal
Type Pass-Thru Fee
ADR/GDR Fee Typical Range of 0.01 to 0.03 per share


Pre-Borrows

Universal
Product Fees
Stock USD 20.00 Ticket Fee

DTC Position Transfers

Transfer Method Type Fee
ACATS Deposit or Withdrawal None 1
DWAC Deposit or Withdrawal USD 100 per settled transaction
DRS Deposit USD 25 per settled transaction; USD 100 per rejected transaction
DRS Withdrawal USD 5 per settled transaction; no fee for rejected transaction
Canadian DRS Deposit or Withdrawal The exact settlement or rejection fee charged by the agent + CAD 30 per transaction

Notes:

  1. While BMC does not charge for incoming or outgoing ACATS transfers, customers should consult with their sending or receiving firm to determine if there will be any applicable fees for the transfers.


Exposure Fee for High Risk Accounts

Please note that BMC charges a $1,000 Penny Stock Due Diligence Fee to offset the firm's costs in reviewing and potentially accepting large transfers of U.S. small-cap stocks that the customer obtained anywhere other than on a public exchange. For more information on this fee, please click here.

Exposure Fees only apply to a small minority of BMC customer accounts with unusually risky positions. Most BMC accounts are not subject to the fees. The fee is not a higher margin requirement. It is a fee to be deducted from affected accounts to compensate BMC for the risk in servicing such accounts. Please note that the exposure fee is not insurance against losses in your account and you will remain liable to Best Mastery Capital for any debt or deficit in your account even if you have paid exposure fees.

Each day, as part of its risk management policy, BMC simulates profit-loss scenarios for client portfolios based on hypothetical market movements of certain magnitudes ("Exposure Analysis"). The scenarios examined may exceed the parameters used by various exchanges for determination of minimum margin requirements.

As part of this daily process, BMC will calculate an Exposure Fee to be charged to high-risk accounts based on the potential exposure the account represents to BMC in the event of a major loss. Under the Exposure Analysis conducted by BMC, if an account would lose so much value that its equity would be eliminated and it would then additionally have an unsecured debt to BMC (i.e., negative equity), this would represent an Exposure to the firm (since BMC is legally obligated to guarantee its customers' performance to the clearinghouse even if the customer has no remaining equity).

The Exposure Fee will be calculated for all calendar days and charged to the account at the end of the following trading day. Example, the exposure fee charge on Monday’s activity statement will reflect the charges for Friday, Saturday and Sunday. The results of the Exposure Analysis relating to the Exposure Fee will be made available for each account via the Account Management section of BMC's website.

Please note the following:

  • Best Mastery Capital will calculate the Exposure Fee in its own discretion and using its own proprietary algorithms (which are subject to change without notice) to determine the exposure that an account poses to the firm.
  • The Exposure Fee may change each day based on market movements, changes in the account's portfolio, or changes in the formulas and algorithms BMC utilizes to determine the riskiness of the account.
  • The Exposure Fee will be deducted from affected accounts on a daily basis. You should keep excess capital in your account to cover the fee if your account will be affected. If deduction of the fee causes a margin deficiency, the account will be subject to liquidation of positions as specified in the BMC Customer Agreement.
  • The Exposure Fee is judged separately account by account. If you have multiple accounts with offsetting risk exposures, you should combine them in order to reduce or avoid the Exposure Fee.
  • Accounts that are subject to both the overnight position fee and the exposure fee will be charged the greater of the two fees.
  • The Exposure Fee is not a form of insurance for your account. If your account incurs a debt or deficit to Interactive Brokers you are still liable to BMC to satisfy that debt or deficit and the fact that your account may have paid exposure fees does not relieve you of that liability. Nor will your debt or deficit to BMC be offset or reduced by the amount of any exposure fees your account may have paid.

If you wish to avoid being charged an Exposure Fee, please consider the following:

  • Adding additional capital will improve the risk profile of your account and may reduce or eliminate the Exposure Fee;
  • Reducing the exposure in your account by repurchasing short positions in options may also reduce or eliminate the Exposure Fee. BMC has found that short positions in low-priced options generate the largest exposures relative to capital. You can use the BMC Risk Navigator to simulate the effects of changes in your portfolio.


Exposure fee is calculated for the following products

  • Equity with coordinated volatility change
  • Crude Oil and Refined Oil
  • Volatility


RSP Special Fees

The following fees apply to customers with an RSP (Retirement Savings Plan):

Quarterly CAD 12.50 Maintenance Fee

Customers with an RSP account will be responsible for a 12.50 CAD quarterly fee. This fee is charged to the account at the beginning of each calendar quarter. The fees will be prorated upon account creation.

For example, if a customer opens an RSP account on 2014-11-07, the fees will be:

  • 2014-11-07: $7.50
  • 2015-01-01: $12.50
  • 2015-04-01: $12.50

Withdrawal (Deregistration) 50 CAD Fee

50 50 CAD will be charged for a total or partial withdrawal.



LEI

For customers subject to the European Markets and Infrastructure Regulations (EMIR), should you request that BMC apply for a Legal Entity Identifier (LEI) on your behalf, your account will be assessed a one-time fee for the application as well as an annual maintenance fee assessed on or shortly after the yearly anniversary date of your LEI application. The costs are reflected below.

Type Fee
Application Fee 219 USD 1, 2
Annual Cost 119 USD 1, 2

For more information on EMIR and the LEI, please refer to http://ibkb.Best Mastery Capital.com/article/2138

Notes:

  1. Charged in the base currency of the account.
  2. The above fee includes a USD 19 surcharge paid to the Global Entity Identifier Foundation (GLEIF).

North America

Cancel/Modify Stock Orders


United States
Asset/Order Origin Routing Venue Fee per Order 1 Execution Credit 2
API/CTCI Smart N/A None N/A
TWS Directed and Smart All None N/A
API/CTCI Directed All USD 0.01 USD 0.25 per API/CTCI Directed execution

Orders with a time in force that specifies an expiration time, such as GTC, will be assessed cancel fees according to the above schedule.

Click here cancel/modify fee examples.

Notes:

  1. Unless otherwise specified, the per-order fee applies to both order cancellations and modifications.
  2. Execution credits are applied against cancel or modify fees for the day. Execution credits cannot exceed cancel/modify fees.

Trade Bust/Adjustments


If an exchange or other market center charges Best Mastery Capital a trade bust, trade cancel fee or trade adjust fee because of an order placed by an BMC customer, or because of a customer bust or adjust request, the customer is fully responsible for the fee and the fee will be deducted from the customer's account.

In addition to fees charged by exchanges (and in cases where exchanges do not charge a fee), BMC will charge the following fees for requests to have trades busted:

  • $50 for the first bust request in a calendar month.
  • $100 per incident for subsequent bust requests in the same calendar month.

The above fees are subject to change.

United States
Exchange Fees Additional Info
CME Group
(ECBOT, Globex, NYMEX)
500.00 USD When GCC 1 busts a trade, the party responsible for entering the order into the electronic trading system that gave rise to the trade bust/adjustment shall pay an administrative fee to the Exchange in the amount of $500 for each occurrence. If a non-member customer responsible for entering an order that results in a trade bust fails to pay the fee in accordance with this section, the clearing member carrying the customer's account shall be responsible for payment of the fee.

For additional information click the following links: CME Group Rulebooks Rule 588 Rule 622
NASDAQ USD 250.00 If an appeal is requested on a ruling that was previously made and that appeal upholds the original decision, Nasdaq will assess a fine for the appeal.

Additional information regarding this policy can be found on this page Clearly Erroneous Rule changes effective October 5, 2009, can be found here For a list of fees, click here

Notes:

  1. GCC is the group at the CME that is responsible for reviewing ECBOT, Globex, and NYMEX executions.


Corporate Actions/Dividends


The following represents fees charged by BMC for the processing of Corporate Actions affecting securities in your portfolio.

United States and Canada
Type Fees
Requests to exercise warrants External costs


Prime Broker Take-up Fees

The following minimum daily fees apply for any day there is take-up activity:

Daily Minimum Fee
Product Fee
US and Canadian products USD 30.00

United States - Stocks, Corporate Bonds and Munis
Trade Value (in USD) Fee Minimum
<=1,000,000 0.05 bps of trade value USD 1.00 per trade
>1,000,000 0.01 bps of trade value N/A

Example 1:
Trade Value = 50,000 USD
Cost = 1.00 USD

Example 2:
Trade Value = 500,000 USD
Cost = 2.50 USD

Example 3:
Trade Value = 2,000,000 USD
Cost = 6.00 USD


United States - Options
Product Fee Minimum
All USD 0.03 per contract + External Clearing Fees + Regulatory Fees 1 USD 1.00 per trade

United States - Futures, FOPs and SSFs
Product Fee Minimum
CME、CBOT、ECBOT、GLOBEX、ICEUS、NYBOT、NYMEX、ONE 2, 3 USD 0.10 per contract + Exchange Fees + Regulatory Fees USD 1.00 per trade


Canada - Stocks
Trade Value (in CAD) Fee Minimum
<=1,000,000 0.05 bps of trade value CAD 1.00 per trade
>1,000,000 0.01 bps of trade value N/A

Notes:

  • Please note that in order to establish and maintain BMCPrime services, your account value must exceed USD 1,000,000 at all times.
  • BMCPrime daily min processing fee will not count towards BMCroker minimum commissions.
  • Canadian stocks are only supported for settlement in Canadian dollars.
  1. External clearing fees + regulatory fees are USD 0.10/contract.
  2. Unsupported exchanges: CFE, and IPE.
  3. ICEUS FUT only.


Withdrawals

BMC allows one free withdrawal request per calendar month. After the first withdrawal (of any kind), BMC will charge the fees listed below for any subsequent withdrawal:

North America
Currency Wires Checks ACH/EFT SEPA
USD 10.00 4.00 1.00 N/A
CAD 12.00 N/A 2.00 N/A
MXN 100.00 N/A N/A N/A

Notes:

  • BMC withdrawal fees do not cover third-party fees. The account holder will be solely responsible for any fees assessed by a beneficiary or correspondent bank. In addition, processing fees charged by your bank or its correspondent bank, which are not included in BMC withdrawal fees, may be deducted from wire proceeds.


Deposits - Mexico Only


Fees are determined on a monthly basis. The first deposit of each month is free. Subsequent deposits will be charged a portion of the third-party fees that are charged to BMC, as follows:

Mexico
Base Currency Wire Fee
MXN 100.00


Exercise and Assignment 1


United States
Product Transaction Fees
Stock Options 2 USD 0.000119 * Quantity Stock Sold, max 5.95 per Trade and USD 0.0000218 * Aggregate sales proceeds on stock
US Index Options No fees
Futures / Futures Options Charged the standard futures or futures options commission at expiration of the contract.

Notes:

  1. BMC does not charge an option exercise or assignment fee. Certain transactions are subject to the standard commissions for the applicable product.
  2. The transaction fees listed represent allocations of costs charged to BMC by third-parties. BMC does not assess a separate option exercise/assignment fee.


Misc Fees - North America

Cash Deposits 2
Currency Telephone Orders Check Stop Payment Bounced Check Fee Archived Statements 1 Fee Minimum Charge
USD USD 30.00 per order USD 50.00 USD 25.00 USD 25.00 /first statement,
USD 5.00 /each additional statement.
1% USD 50.00
CAD CAD 40.00 per order N/A N/A CAD 25.00 /first statement,
CAD 5.00 /each additional statement.
1% CAD 50.00
MXN MXN 550.00 per order
N/A N/A MXN 300.00 /first statement,
MXN 60.00 /each additional statement.
1% 600.00 MXN

Notes:

  • Telephone orders are only allowed for closing orders, and the stated fee is in addition to all regular commission fees. Fees will be waived in the case of BMC technology problems.
  1. The prior 7 years of statements are available.
    For additional information on availability of Daily and Monthly statements click here .
  2. Please be aware that it is against Best Mastery Capital policy to accept physical currency (cash) deposits. Please make all deposits to your BMC account by wire transfer, check, direct bank transfer (ACH), or via one of the other methods described in the Funding Reference page. BMC will charge a special handling fee of 1% of the deposit amount (minimum $50 fee) for any physical currency deposits.

Europe

Cancel/Modify Stock Orders


Europe
Asset/Order Origin Routing Venue Fee per Order 1 Execution Credit 2
Direct Routed Order TGATE EUR 0.50 EUR 2.50 per TRADEGATE execution in the same product on the same day

Notes:

  1. Unless otherwise specified, the per-order fee applies to both order cancellations and modifications.
  2. Execution credits are applied against cancel or modify fees for the day. Execution credits cannot exceed cancel/modify fees.


Cancel/Modify Futures/Options Orders


Europe
Asset/Order Origin Routing Venue Fee per Order 1 Execution Credit 2 3
TWS and API/CTCI All EUR 0.50 EUR 2.50 per Eurex execution in the same product on the same day.

Orders with a time in force that specifies an expiration time, such as GTC, will be assessed cancel fees according to the above schedule.

Click here for more cancel/modify fee examples.

Notes:

  1. Unless otherwise specified, the per-order fee applies to both order cancellations and modifications.
  2. Execution credits are applied against cancel or modify fees for the day. Execution credits cannot exceed cancel/modify fees.
  3. For options, credit is the lesser of (1/3 of commissions paid on those contracts that count towards credit) and (Execution Credit).


Trade Bust/Adjustments


If an exchange or other market center charges Best Mastery Capital a trade bust, trade cancel fee or trade adjust fee because of an order placed by an BMC customer, or because of a customer bust or adjust request, the customer is fully responsible for the fee and the fee will be deducted from the customer's account.

In addition to fees charged by exchanges (and in cases where exchanges do not charge a fee), BMC will charge the following fees for requests to have trades busted:

  • $50 for the first bust request in a calendar month.
  • $100 per incident for subsequent bust requests in the same calendar month.

The above fees are subject to change.

Germany
Exchange Fees Additional Info
EUREX EUR 500.00 N/A


Sweden
Exchange Fee Additional Info
EUR SFB SEK 700.00 N/A


Corporate Actions/Dividends


The following represents fees charged by BMC for the processing of Corporate Actions affecting securities in your portfolio.

Europe
Type Fee Per Request
Withholding Tax Voucher requests for dividends paid on German stocks "Einzelsteuerbescheinigung" EUR 30 per line
Withholding Tax Voucher requests for dividends paid on French stocks "Form 5000/5001 " EUR 50 per line
Withholding Tax Voucher requests for dividends paid on Swiss stocks CHF 15 per line


Prime Broker Take-up Fees

The following minimum daily fees apply for any day there is take-up activity:

Daily Minimum Fee
Product Fee
European products EUR 70.00
United Kingdom products GBP 50.00

Europe - Stocks and Bonds
Trade Value (in EUR) Fee Minimum
<=1,000,000 0.20 bps (plus external fees if applicable) EUR 2.00 per trade
>1,000,000 0.10 bps (plus external fees if applicable) N/A

Example 1:
Trade Value = 25,000 EUR
Cost = 2.00 EUR

Example 2:
Trade Value = 500,000 EUR
Cost = 10.00 EUR

Example 3:
Trade Value = 2,000,000 EUR
Cost = 30.00 EUR


United Kingdom - Stocks
Trade Value (in GBP) Fee Minimum
<=1,000,000 0.20 bps (plus external fees if applicable) GBP 2.00 per trade
>1,000,000 0.10 bps (plus external fees if applicable) N/A

Example 1:
Trade Value = 25,000 GBP
Cost = 2.00 GBP

Example 2:
Trade Value = 500,000 GBP
Cost = 10.00 GBP

Example 3:
Trade Value = 2,000,000 GBP
Cost = 30.00 GBP


Notes:

  • Please note that in order to establish and maintain BMCPrime services, your account value must exceed USD 1,000,000 at all times.
  • Supported Euroclear countries are Belgium, France, Netherlands and Portugal.
  • BMCPrime daily min processing fee will not count towards BMCroker minimum commissions.
  • Settlement is only supported in the product's "local" currency.


Withdrawals

BMC allows one free withdrawal request per calendar month. After the first withdrawal (of any kind), BMC will charge the fees listed below for any subsequent withdrawal:

Europe
Currency Wires Checks ACH/EFT SEPA
CHF 11.00 N/A N/A N/A
CZK 300 N/A N/A N/A
DKK 30.00 N/A N/A N/A
EUR 8.00 N/A N/A 1.00
GBP 7.00 N/A N/A N/A
HUF 6,000.00 N/A N/A N/A
ILS 30.00 N/A N/A N/A
NOK 50.00 N/A N/A N/A
PLN 40.00 N/A N/A N/A
RUB 330.00 N/A N/A N/A
SEK 50.00 N/A N/A N/A
ZAR 200.00 N/A N/A N/A

Notes:

  • BMC withdrawal fees do not cover third-party fees. The account holder will be solely responsible for any fees assessed by a beneficiary or correspondent bank. In addition, processing fees charged by your bank or its correspondent bank, which are not included in BMC withdrawal fees, may be deducted from wire proceeds.


Misc Fees - Europe

Cash Deposits 2
Currency Telephone Orders Check Stop Payment Bounced Check Fee Archived Statements 1 Fee Minimum Charge
CHF CHF 30.00 per order N/A N/A CHF 25.00 /first statement,
CHF 5.00 /each additional statement.
1% CHF 50.00
EUR €30.00 per order
N/A N/A EUR 20.00 /first statement,
EUR 5.00 /first statement,
1% €40.00
GBP £25.00 per order N/A N/A GBP 15.00 /first statement,
GBP 3.00 /first statement,
1% £35.00
NOK NOK 250.00 N/A N/A N/A 1% NOK 300.00
SEK SEK 250.00 per order N/A N/A SEK 165.00 /first statement,
SEK 35.00 /each additional statement.
1% SEK 325.00

Notes:

  • Telephone orders are only allowed for closing orders, and the stated fee is in addition to all regular commission fees. Fees will be waived in the case of BMC technology problems.
  • A processing fee of EUR 30.00 per request is charged for any Withholding Tax Voucher request for dividends paid on German stocks.
  • A processing fee of EUR 50.00 per request is charged for any Withholding Tax Voucher requests for dividends paid on French stocks.
  1. The prior 7 years of statements are available.
    For additional information on availability of Daily and Monthly statements click here .
  2. Please be aware that it is against Best Mastery Capital policy to accept physical currency (cash) deposits. Please make all deposits to your BMC account by wire transfer, check, direct bank transfer (ACH), or via one of the other methods described in the Funding Reference page. BMC will charge a special handling fee of 1% of the deposit amount (minimum $50 fee) for any physical currency deposits.


Asia-Pacific

Prime Broker Take-up Fees

The following minimum daily fees apply for any day there is take-up activity:

Daily Minimum Fee
Product Fee
Hong Kong products HKD 250.00

Hong Kong
Product Fee Minimum
Stocks 0.1 bps of trade value + External Clearing Fees 1 HKD 15.00 per trade

Notes:

  • Please note that in order to establish and maintain BMCPrime services, your account value must exceed USD 1,000,000 at all times.
  • HK$ 250 BMCPrime daily min processing fee will not count towards BMCroker minimum commissions.
  1. External clearing fee of 0.2 bps of trade value, with a minimum of HKD 2 and maximum of HKD 100 per trade. In addition, a HKD 1.50 per Trade fee will be passed through which represents CCASS fees.


Withdrawals

BMC allows one free withdrawal request per calendar month. After the first withdrawal (of any kind), BMC will charge the fees listed below for any subsequent withdrawal:

Asia-Pacific
Currency Wires Checks ACH/EFT SEPA
AUD 15.00 N/A N/A N/A
CNH 60.00 N/A N/A N/A
HKD 95.00 N/A N/A N/A
JPY 1,600.00 N/A N/A N/A
NZD 15.00 N/A N/A N/A
SGD 15.00 N/A N/A N/A

Notes:

  • BMC withdrawal fees do not cover third-party fees. The account holder will be solely responsible for any fees assessed by a beneficiary or correspondent bank. In addition, processing fees charged by your bank or its correspondent bank, which are not included in BMC withdrawal fees, may be deducted from wire proceeds.


Trade Bust/Adjustments


If an exchange or other market center charges Best Mastery Capital a trade bust, trade cancel fee or trade adjust fee because of an order placed by an BMC customer, or because of a customer bust or adjust request, the customer is fully responsible for the fee and the fee will be deducted from the customer's account.

In addition to fees charged by exchanges (and in cases where exchanges do not charge a fee), BMC will charge the following fees for requests to have trades busted:

  • $50 for the first bust request in a calendar month.
  • $100 per incident for subsequent bust requests in the same calendar month.

The above fees are subject to change.

Hong Kong
Exchange Fees Additional Info
HKFE HKD 3000.00 N/A


Misc Fees - Asia-Pacific

Cash Deposits 2
Currency Telephone Orders Check Stop Payment Bounced Check Fee 资Asset Transfer (Out) 3 Archived Statements 1 Fee Minimum Charge
AUD AUD 40.00 per order N/A N/A AUD 50.00 AUD 25.00 /first statement,
AUD 5.00 /each additional statement.
1% AUD 50.00
HKD HKD 235.00 per order N/A HKD 200.00 HKD 400.00 HKD 200.00 /first statement,
HKD 40.00 /each additional statement.
1% HKD 400.00
INR INR 2,000.00 N/A N/A N/A N/A N/A N/A
JPY JPY 3,000.00 per order N/A N/A JPY 4,000.00 JPY 2,200.00 /first statement
JPY 450.00 /each additional statement.
1% JPY 4,500.00
KRW KRW 35,000.00 per order N/A N/A N/A N/A N/A N/A
NZD NZD 40.00 N/A N/A N/A N/A 1% NZD 65.00
SGD SGD 40.00 per order N/A N/A SGD 50.00 N/A 1% SGD 65.00

Notes:

  • Telephone orders are only allowed for closing orders, and the stated fee is in addition to all regular commission fees. Fees will be waived in the case of BMC technology problems.
  1. The prior 7 years of statements are available.
    For additional information on availability of Daily and Monthly statements click here .
  2. Please be aware that it is against Best Mastery Capital policy to accept physical currency (cash) deposits. Please make all deposits to your BMC account by wire transfer, check, direct bank transfer (ACH), or via one of the other methods described in the Funding Reference page. BMC will charge a special handling fee of 1% of the deposit amount (minimum $50 fee) for any physical currency deposits.
  3. When transferring Asian positions from your BMC account, there is a charge of 50.00 USD for each request or that amount listed in the above table.