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  • Commissions

     

    Stocks, Warrants and ETFs

    North America

    Our Fixed pricing for stocks, ETFs and warrants charges a fixed amount per share or a set percent of trade value, and includes all commissions, exchange and most regulatory fees with the exception of the transaction fees5 which are passed through on all stock sales and ticket charges8 per trade.

    United States6
    Category Fixed Minimum Per Order Maximum Per Order
    All* USD 0.015 per share USD 1.00 0.5% of trade value 1, 7

    *Except those categorized as Exceptions

       
    Canada
    Fixed Minimum Per Order Maximum Per Order
    CAD 0.02 per share CAD 1.00 0.5% of trade value1, 2
    Mexico
    Fixed Minimum Per Order Maximum Per Order
    MXN 0.3% of trade value MXN 60.00 N/A

    Notes:

    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.
    3. This charge does not apply to relative, pegged to market and pegged to midpoint orders.
    4. Directed orders to IBKRATS/IBDARK that are marketable will generally be rejected.
    5. Transaction fees are only charged for sell orders on USA stocks, ETFs, warrants, rights, voting trust certificates and are equal to 0.0000218 * Value of Aggregate Sales
    6. Includes NMS, OTCBB, and Pink Sheet Stocks.
    7. In the event the calculated maximum per order is less than the minimum per order, the minimum per order will be assessed.
    8. Ticket charges are equal to USD 13, CAD 13 and MXN 120, for respective currency denominated stocks.

    • 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 SmartRouting, Caucasus Capital reserves the right to impose a surcharge in order to defray specialist order handling charges. In this event, Caucasus Capital 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

    Our Fixed pricing for stocks, ETFs and warrants charges a fixed amount per share or a set percent of trade value, and includes all commissions, exchange and most regulatory fees with the exception of the transaction fees5 which are passed through on all stock sales and ticket charges4 per trade.

    Austria
    Fixed Minimum Per Order Maximum Per Order
    All 0.105% of trade value EUR 4.00 EUR 120.00
    Belgium
    Fixed Minimum Per Order Maximum Per Order
    All 0.105% of trade value EUR 4.00 EUR 29.00
    France
    Fixed Minimum Per Order Maximum Per Order
    Euro-denominated 0.105% of trade value EUR 4.00 EUR 29.00
    USD-denominated 0.3% of trade value USD 1.00 USD 42.00
    Germany
    Fixed Minimum Per Order Maximum Per Order
    SWB3 0.126% of trade value EUR 6.00 None
    SWB Warrants3 0.36% of trade value EUR 6.00 EUR 145.00
    FWB2,3 0.105% of trade value EUR 4.00 EUR 99.00
    FWB Warrants 2,3 0.3% of trade value EUR 4.00 EUR 145.00
    TradeLink Warrants (currently IBFP products only) 0.02% of trade value EUR 2.00 or USD 2.00 EUR 99.00 or USD 99.00
    Chi-X / BATS / Turquoise DE / Tradegate 0.105% of trade value EUR 4.00 EUR 29.00
    Xetra - ETFs 0.105% of trade value EUR 4.00 EUR 85.00
    Xetra - Stocks 0.105% of trade value EUR 4.00 EUR 290.00
    Italy
    Fixed Minimum Per Order Maximum Per Order
    All 0.1% of trade value EUR 4.00 EUR 29.00
    Netherlands
    Fixed Minimum Per Order Maximum Per Order
    Euro-denominated 0.105% of trade value EUR 4.00 EUR 29.00
    USD-denominated 0.3% of trade value USD 5.00 USD 42.00
    Norway
    Fixed Minimum Per Order Maximum Per Order
    All 0.09% of trade value NOK 49.00 None
    Portugal
    Fixed Minimum Per Order Maximum Per Order
    All 0.1575% of trade value EUR 4.00 None
    Spain
    Fixed Minimum Per Order Maximum Per Order
    All 0.105% of trade value EUR 4.00 None
    Sweden
    Fixed Minimum Per Order Maximum Per Order
    All 0.09% of trade value SEK 49.00 None
    Switzerland
    Fixed Minimum Per Order Maximum Per Order
    CHF-denominated 0.105% of trade value CHF 10.00 None
    EUR-denominated 0.105% of trade value EUR 10.00 None
    USD-denominated 0.3% of trade value USD 10.00 None
    GBP-denominated 0.2% of trade value GBP 6.00 None
    United Kingdom1
    Fixed Minimum Per Order Maximum Per Order
    Up to GBP 50,000 Trade Value GBP 6.00 GBP 6.00 GBP 6.00
    > GBP 50,000 Trade Value GBP 6.00 + 0.1% of incremental trade value > GBP 50,000 GBP 6.00 GBP 85.00
    LSE International Order Book and USD-denominated stocks USD 0.095% of trade value USD 5.00 None
    EUR-denominated stocks 0.105% of trade value EUR 4.00 EUR 29.00

    Notes:

    1. Stamp taxes (UK=0.5%, Ireland=1%) are directly passed through to the client.
    2. Plus Trade Fee.
    3. Caucasus Capital clients can trade warrants and structured products issued by Interactive Brokers Financial Products (IBFP) and listed on FWB and SWB with fixed EUR 10 (or USD 8 for USD-denominated products) commission. Only actual exchange and third party fees are passed on.
    4. Ticket charges are equal to:
      • USD 13, EUR 6, GBP 6, CHF 7, NOK 11 and SEK11, for respective currency denominated stocks and ETFs;
      • USD 8 and EUR 10, for respective currency denominated warrants.

    • 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. Effective September 1, 2013, derivatives on those Italian securities subject to the transaction tax will similarly become subject to a transaction tax.
    • For European stock Algo orders, Caucasus Capital will apply the commission cap as follows:
      • For EUR-denominated stocks every EUR 75,000 of executed value a new per order cap will be applied
      • For CHF-denominated stocks every CHF 100,000 of executed value a new per order cap will be applied
      • For GBP-denominated stocks every GBP 65,000 of executed value a new per order cap will be applied

    Asia-Pacific

    Our Fixed pricing for stocks, ETFs and warrants charges a fixed amount per share or a set percent of trade value, and includes all commissions, exchange and most regulatory fees, with the exception of ticket charges3 per trade.

    Australia
    Tier Fixed Minimum Per Order Maximum Per Order
    All 0.1% of trade value AUD 6.00 N/A
    Hong Kong1,2
    Tier Fixed Minimum Per Order Maximum Per Order
    SEHK Stocks 0.14% of trade value HKD 18 N/A
    SEHK Warrants, Structured Products 0.24% of trade value HKD 10 N/A
    Shanghai-Hong Kong Connect Stocks 0.14% of trade value CNH 15 N/A
    Japan
    Tier Fixed Minimum Per Order Maximum Per Order
    All 0.14% of trade value JPY 80 N/A
    Singapore
    Tier Fixed Minimum Per Order Maximum Per Order
    All 0.14% of trade value SGD 2.50 USD 2.00 HKD 18.00 N/A

    Notes:

    1. All exchange and regulatory fees are included, except in Hong Kong.
    2. For Hong Kong, all external costs will be passed through to clients. This includes exchange trading fees, exchange trading tariff, settlement fees, government stamp duty (0.1% rounded up to the nearest 1.00 for SEHK stocks, applies to stocks only) and SFC transaction levy (0.0027%, applies to stocks and warrants) as applicable activity regardless of commission model.
    3. Ticket charges are equal to:
      • USD 13, AUD 8, HKD 127, CNH 105, JPY 1320 and SGD 19.5 for respective currency denominated stocks and ETFs.
      • AUD 8 and HKD 90, for respective currency denominated warrants.

    • 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.