NORTH AMERICA  

United States 

  • Fixed: USD 0.006 per share
  • Minimum Per Order: USD 1.20
  • Maximum Per Order: 1.2% of trade value

Fee Examples:
100 Shares @ USD 25 Share Price = USD 1.20  
1,000 Shares @ USD 25 Share Price = USD 6.00  
1,000 Shares @ USD 0.25 Share Price = USD 3.00 

Canada

  • Fixed: CAD 0.012 per share
  • Minimum Per Order: CAD 1.20
  • Maximum Per Order: 0.6% of trade value  

Fee Example:
100 Shares @ CAD 25 Share Price = CAD 1.20

Mexico

  • Fixed: MXN 0.012 per share
  • Minimum Per Order: MXN 1.20
  • Maximum Per Order: 0.6% of trade value  

Fee Examples:
700 Shares @ MXN 100 Share Price = MXN 84.00 

TRANSACTION FEES 

  • (Stocks, ETF, Warrants, Rights, Voting Trust Certificates): USD 0.0000130 * Value of Aggregate Sales 
  • FINRA Trading Activity Fee: USD 0.000119 * Quantity Sold 6 

NOTES I 

  1. Plus the applicable exchange, ECN and/or specialist fees based on execution venue.
  2. For orders that are immediately executed against an existing bid or offer on the exchange's order book, an exchange liquidity removing fee will be added. See the TieredNorth America section for details of the exchange fees.
  3. Transaction fees are only charged for sell orders.
  4. Includes NMS, OTCBB, NextShares, and Pink Sheet Stocks.
  5. In the event the calculated maximum per order is less than the minimum per order, the minimum per order will be assessed.
  6. Maximum USD 5.95 per trade. In the case of partial executions, each execution is considered one trade.
  • Commissions apply to all order types.  
  • All exchange fees are included.  
  • For clients who send an extraordinary number of non-marketable limit orders to the NYSE, and who route such orders direct to NYSE, rather than using Smart routing, NAGA reserves the right to impose a surcharge in order to defray specialist order handling charges. In this event, NAGA will provide notice to affected clients.  
  • VAT also referred to as consumption tax, goods, and services tax, where applicable, will be separately applied for eligible services.  
  • Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for 200 shares is submitted and 100 shares execute, then you modify the order and another 100 shares execute, a commission minimum would be applied to both 100 share orders. Orders that persist overnight will be considered a new order for the purposes of determining order minimums. 

EUROPE  

Austria

  • Fixed: 0.12% of trade value
  • Minimum Per Order: EUR 4.80
  • Maximum Per Order: EUR 144.00

Fee Examples:
100 Shares @ EUR 50 Share Price = EUR 6.00

Baltic Region (Estonia, Latvia, Lithuania)

  • Fixed: 0.24% of trade value
  • Minimum Per Order: EUR 12.00
  • Maximum Per Order: None

Fee Examples:
100 Shares @ EUR 50 Share Price = EUR 6.00  
1,000 Shares @ EUR 50 Share Price = EUR 120.00  

Belgium 

  • Fixed: 0.12% of trade value
  • Minimum Per Order: EUR 4.80
  • Maximum Per Order: EUR 34.80

Fee Examples:
100 Shares @ EUR 50 Share Price = EUR 6.00  
1,000 Shares @ EUR 50 Share Price = EUR 34.80  

France

  • Fixed: Euro-denominated 0.12% of trade value; USD-denominated 0.12% of trade value
  • Minimum Per Order: EUR 4.80; USD 6.00
  • Maximum Per Order: EUR 34.80; USD 54.20

Fee Examples:
100 Shares @ EUR 50 Share Price = EUR 6.00  
1,000 Shares @ EUR 50 Share Price = EUR 34.80
100 Shares @ USD 75 Share Price = USD 9.00 

Germany

  • Fixed: SWB 0.14% of trade value; FWB 0.12% of trade value; Chi-X / BATS / Turquoise DE / Tradegate 0.12% of trade value; Xetra - ETFs 0.12% of trade value; Xetra - Stocks 0.12% of trade value
  • Minimum Per Order: SWB EUR 7.20; FWB EUR 4.80; Chi-X/BATC/Turquoise DE / Tradegate EUR 4.80; Xetra - ETFs EUR 4.80; Xetra - Stocks EUR 4.80
  • Maximum Per Order: SWB EUR 118.80; FWB EUR 34.80; Chi-X/BATC/Turquoise DE / Tradegate EUR 34.80; Xetra - ETFs EUR 34.80; Xetra - Stocks EUR 118.80

Fee Examples: 100 Shares @ EUR 50 Share Price = EUR 7.20 

FWB:
100 Shares @ EUR 50 Share Price = EUR 6.00
1,000 Shares @ EUR 50 Share Price = EUR 60.00  

Chi-X / BATS / Turquoise DE / Tradegate:
100 Shares @ EUR 50 Share Price = EUR 6.00
1,000 Shares @ EUR 50 Share Price = EUR 34.80  

Xetra - ETFs:
100 Shares @ EUR 50 Share Price = EUR 6.00
1,000 Shares @ EUR 50 Share Price = EUR 34.80  

Xetra - Stocks:100 Shares @ EUR 50 Share Price = EUR 6.00
1,000 Shares @ EUR 50 Share Price = EUR 60.00 

Hungary

  • Fixed: Stocks 0.12% of trade value
  • Minimum Per Order: HUF 240
  • Maximum Per Order: None

Fee Examples:
100 Shares @ HUF 50 Share Price = HUF 240  
1,000 Shares @ HUF 500 Share Price = HUF 600 

Italy 

  • Fixed: Stocks, ETFs & Funds 0.12% of trade value
  • Minimum Per Order: EUR 4.80
  • Maximum Per Order: EUR 34.80

Fee Examples:
100 Shares @ EUR 50 Share Price = EUR 6.00  
1,000 Shares @ EUR 50 Share Price = EUR 34.80 

Netherlands

  • Fixed: Euro-denominated 0.12% of trade value; USD-denominated 0.12% of trade value
  • Minimum Per Order: EUR 4.80; USD 6.00
  • Maximum Per Order: EUR 34.80; USD 50.40

Fee Examples:
100 Shares @ EUR 50 Share Price = EUR 6.00  
1,000 Shares @ EUR 50 Share Price = EUR 34.80  
100 Shares @ USD 75 Share Price = USD 9.00  

Norway

  • Fixed: 0.06% of trade value
  • Minimum Per Order: NOK 49.00
  • Maximum Per Order: None

Fee Examples:
100 Shares @ NOK 50 Share Price = NOK 49.00  
1,000 Shares @ NOK 100 Share Price = NOK 60.00

Poland

  • Fixed: 0.06% of trade value
  • Minimum Per Order: PLN 18.00 
  • Maximum Per Order: None

Fee Examples:
100 Shares @ PLN 50 Share Price = PLN 18.00
1,000 Shares @ PLN 50 Share Price = PLN 60.00 

Portugal 

  • Fixed: USD 0.006 per share
  • Minimum Per Order: USD 1.20
  • Maximum Per Order: 1.2% of trade value

Spain

  • Fixed: 0.12% of trade value
  • Minimum Per Order: EUR 4.80; 
  • Maximum Per Order: None

Fee Examples:
100 Shares @ EUR 50 Share Price = EUR 6.00

Sweden

  • Fixed: EUR-denominated 0.12% of trade value; All Other 0.06% of trade value
  • Minimum Per Order: EUR-denominated EUR 4.80; All Other SEK 58.80
  • Maximum Per Order: None

Fee Examples:
100 Shares @ SEK 50 Share Price = SEK 58.80

Switzerland

  • Fixed: CHF-denominated 0.12% of trade value; EUR-denominated 0.12% of trade value; USD-denominated ETF 0.12% of trade value; GBP-denominated 0.12% of trade value; USD-denominated Other 0.12% of trade value 
  • Minimum Per Order: CHF-denominated CHF 12.00; EUR-denominated EUR 12.00; USD-denominated USD 12.00; GBP-denominated GBP 7.20;  USD-denominated Other USD 6.00
  • Maximum Per Order: None except for USD-denominated that has 50.40 Max fee per order

Fee Examples:
100 Shares @ CHF 50 Share Price = CHF 12.00

United Kingdom (UK)

  • Fixed: Up to GBP 50,000 Trade Value GBP 7.200; > GBP 50,000 Trade Value GBP 6.00 + 0.06% of incremental trade value > GBP 50,000; LSE International Order Book and USD-denominated stocks USD 0.06% of trade value; EUR-denominated stocks 0.12% of trade value
  • Minimum Per Order - respectively to the Fixed: GBP 7.20; GBP 7.20; USD 6.00; EUR 4.80
  • Maximum Per Order - respectively to the Fixed: GBP 7.20; GBP 34.80; None; EUR 34.80

Fee Examples:
100 Shares @ GBP 50 Share Price= GBP 7.20  
30,000 Shares @ GBP 2 Share Price= GBP 12.00  
100 Shares @ USD 100 Share Price = USD 6.00 


NOTES II 

  1. Stamp taxes (UK=0.5%, Ireland=1%) are directly passed through to the client.
  2. Plus Trade Fee.
  3. In addition to the standard commissions, NAGA will pass thru a trade reporting fee of CHF 1.00 per Trade.
  4. NAGA is also required to charge the Panel of Takeovers and Mergers Levy of GBP 1.00 on all orders over GBP 10,000 on shares of companies registered in the United Kingdom, Isle of Man or Channel Islands.
  • Commissions apply to all order types.  
  • All exchange and regulatory fees are included.  
  • VAT also referred to as consumption tax, goods, and services tax, where applicable, will be separately applied for eligible services.  
  • Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for 200 shares is submitted and 100 shares execute, then you modify the order and another 100 shares execute, a commission minimum would be applied to both 100 share orders. Orders that persist overnight will be considered a new order for the purposes of determining order minimums.  
  • Effective August 1, 2012, securities issued by French companies with a market capitalization of 1 billion EUR as of January 1, 2012, will be subject to a transaction tax.  
  • Effective March 1, 2013, certain Italian stocks will be subject to a transaction tax.  
  • For European stock Algo orders, NAGA will apply the commission cap as follows:
  1. For EUR-denominated stocks, every EUR 75,000 of executed value a new per order cap will be applied.  
  2. For CHF-denominated stocks, every CHF 100,000 of executed value a new per order cap will be applied.  
  3. For GBP-denominated stocks, every GBP 65,000 of executed value a new per order cap will be applied. 

FWB COST PLUS STOCK FEES

Exchange Fee

Product Group: All
Fee: 0.0096% of trade value
Minimum Per Order: EUR 0.60  
Maximum Per Order: EUR 72.00
    

Trade Fee

Product Group: All
Fee: 0.0504% of trade value
Minimum Per Order: EUR 2.52
Maximum Per Order: N/A  

Clearing Fee

Product Group: Fixed; Variable
Fee: EUR 0.06 + Variable Fee; 0.001% of trade value
Minimum Per Order: N/A
Maximum Per Order: EUR 5.06; EUR 5.00

Regulatory Fee

Product Group: All
Fee: EUR 0.06 + Variable Fee; 0.001% of trade value
Minimum Per Order: N/A
Maximum Per Order: EUR 5.06; EUR 5.00


ASIA-PACIFIC

Australia

  • Fixed: 0.096% of trade value
  • Minimum Per Order: AUD 7.20; 
  • Maximum Per Order: None

Fee Examples:
400 [email protected] AUD 50 Share Price= AUD 19.20 

Hong Kong

  • Fixed: SEHK Stocks 0.096% of trade value; SEHK Warrants, Structured Products 0.096% of trade value; Shanghai-Hong Kong Connect and Shenzhen-Hong Kong Connect Stocks 0.096% of trade value
  • Minimum Per Order: HKD 21.60; HKD 12; CNH 18
  • Maximum Per Order: None

Fee Examples:
400 [email protected] HKD 70 Share Price= HKD 26.88 

India 

  • Fixed: SEHK Stocks 0.096% of trade value with the standard fee of 1.2 bps
  • Minimum Per Order: INR 7.20
  • Maximum Per Order: INR 24

Japan

  • Fixed: 0.096% of trade value
  • Minimum Per Order: JPY 96
  • Maximum Per Order: N/A

Fee Examples: 100 Shares @ JPY 10,000 Share Price= JPY 960

Singapore

  • Fixed: 0.096% of trade value
  • Minimum Per Order: SGD 3.00
    USD 2.40
    HKD 21.60
  • Maximum Per Order: N/A

Fee Examples: 100 Shares @ SGD 50 Share Price= SGD 4.80

NOTES III 

  1. For stocks traded on the SEHK, government stamp duty (0.1% rounded up to the nearest 1.00 for SEHK stocks) and SFC transaction levy (0.0027%) will be passed through to all clients regardless of commission model. Click here for SEHK shares.
  2. For stocks traded on Shanghai-Hong Kong Connect and Shenzhen-Hong Kong Connect, all external costs will be passed through to clients regardless of commission model. This includes exchange trading fees, clearing fees, and government stamp duty. Click here for the fee schedule for Shanghai-Hong Kong Connect and Shenzhen-Hong Kong Connect shares.
  3. Stocks on the NSE are only available to Indian residents.
  4. Up to per order value of INR 1,000,000. Portion of order above INR 1,000,000 will be charged 2 bps.
  5. The maximum per order for NRIs will be INR 150.
  • All exchange and regulatory fees are included, except where noted above.  
  • Commissions apply to all order types.  
  • VAT also referred to as consumption tax, goods, and services tax, where applicable, will be separately applied for eligible services.  
  • Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for 200 shares is submitted and 100 shares execute, then you modify the order and another 100 shares execute, a commission minimum would be applied to both 100 share orders. Orders that persist overnight will be considered a new order for the purposes of determining order minimums. 

HONG KONG STOCK EXCHANGE (SEHK) STOCK AND WARRANT FEES

Exchange Fee

Product Group: All
Fee: 0.005% trade value + HKD 0.50 per trade
   
Clearing Fee

Product Group: Fixed; Variable
Fee: 0.002% trade value
Minimum Per Order: HKD 2.00 per trade
Maximum Per Order: HKD 100 per trade

Pass-through Fees 

Product Group: Stamp Duty
Fee: 0.1% will be passed on for stock executions

Product Group: SFC Transaction Levy
Fee: 0.0027% will be passed on for stocks executions 

NOTES IV 

HKD 0.50 per trade is a transaction levy which will be included with the exchange fee.

SHANGHAI-HONG KONG STOCK CONNECT NORTHBOUND TRADING LINK AND SHENZHEN-HONG KONG STOCK CONNECT FEES  

Exchange Fee

Product Group: All Products - Handling Fee
Fee: 0.00487% trade value

Product Group: All Products - Security Management
Fee: 0.002% trade value

Clearing Fee

Product Group: Fixed; Variable
Fee: 0.004% trade value

Pass-through Fees

Product Group: Stamp Duty
Fee: 0.1% Sale Proceeds 

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