Euro Pacific Bank

Options

EURO PACIFIC TRADER BROKERAGE ACCOUNT COMING SOON

The Global TradeStation platform is currently undergoing change of technology provider and custodian. Our new brokerage platform, Euro Pacific Trader, will be officially released shortly. In the meantime, please review its commissions below.
NOTE: Commissions are still subject to change as we finalize testing and launch of the platform.

Overview

Options pricing structures are defined per region/denomination and cannot be changed by the client. Our fixed plans charge a single flat rate per contract that includes all commissions and all exchange, regulatory and other third party fees, plus VAT (also referred to as consumption tax or goods and services tax) where applicable.

North America

USA United States – Smart Routed: Tiered Commissions

Contract Volume (per month)5 Commissions Minimum Per Order
<= 10,000
Premium < USD 0.05 USD 0.50 per contract USD 1.00
Premium => USD 0.05 and Premium < USD 0.10 USD 1.00 per contract USD 1.00
Premium => USD 0.10 USD 1.40 per contract USD 1.40
10,001 – 50,000
Premium < USD 0.05 USD 1.00 per contract USD 1.00
Premium => USD 0.05 USD 1.00 per contract USD 1.00
50,001 – 100,000
All Premiums USD 0.50 per contract USD 1.00
=> 100,001
All Premiums USD 0.30 per contract USD 1.00

Example

Contract Volume <= 10,000 per month:
1 Contract @ USD 2 Premium = USD 1.00
2 Contracts @ USD 5 Premium = USD 1.40
3 Contracts @ USD 0.075 Premium = USD 1.50
5 Contracts @ USD 0.03 Premium = USD 1.25

Contract Volume 10,001 – 50,000 per month:
1 Contract @ USD 2 Premium = USD 1.00
2 Contracts @ USD 5 Premium = USD 1.00
3 Contracts @ USD 0.075 Premium = USD 1.50
5 Contracts @ USD 0.03 Premium = USD 1.25

Contract Volume 50,001 – 100,000 per month:
1 Contract @ USD 2 Premium = USD 1.00
2 Contracts @ USD 5 Premium = USD 1.00
5 Contracts @ USD 2 Premium = USD 1.25

Contract Volume =>100,001 per month:
1 Contract @ USD 2 Premium = USD 1.00
5 Contracts @ USD 5 Premium = USD 1.00
7 Contracts @ USD 2 Premium = USD 1.05

 

USA United States – Direct Routed

Commissions Minimum Per Order
All Premiums USD 2.00 per contract USD 2.00

Example

1 Contract = USD 1.00

 

USA United States – Exchange Fees

AMEX MERCURY
BATS MIAX
BOX MIAX PEARL
C2 MIAX EMERALD
CBOE NASDAQOM
EDGX NASDAQ OMX BX Options Exchange
GEMINI NYSE Arca (PSE)
ISE PHLX

 

USA United States – Regulatory Fees

Commissions
Options Regulatory Fee (“ORF”) 2, 3 USD 0.0388 per contract

 

USA United States – Transaction Fees

Commissions
Transaction Fees 4 USD 0.0000207 * Value of Aggregate Sales
FINRA Trading Activity Fee USD 0.002 * Quantity Sold

 

USA United States – OCC Clearing Fees

Tier Fee
Trades of 1 – 999 contracts USD 0.055 per contract
Trades of > 999 contracts USD 55.00 per trade

 

Canada Canada: Tiered Commissions

Contract Volume (per month)5 Commissions Minimum Per Order
<= 10,000
All Premiums CAD 2.50 per contract CAD 3.00
10,001 – 50,000
All Premiums CAD 2.30 per contract CAD 3.00
50,001 – 100,000
All Premiums CAD 2.10 per contract CAD 3.00
=> 100,001
All Premiums CAD 2.00 per contract CAD 3.00

 

Mexico Mexico

Commissions Minimum Per Order
AMXL MXN 50 per contract MXN 50
NAFTRAC MXN 40 per contract MXN 40
QQQQ MXN 60 per contract MXN 60
All Others MXN 80 per contract MXN 80

Example

1 AMXL Contract = MXN 25
1 NAFTRAC Contract = MXN 20
1 QQQQ Contract = MXN 30

 

Notes:

  1. Euro Pacific’s Tiered commission models are not intended to be a direct pass-through of exchange and third-party fees and rebates. Costs passed on to clients in Euro Pacific’s Tiered commission schedule may be greater than the costs paid by Euro Pacific to the relevant exchange, regulator, clearinghouse or third party. For example, Euro Pacific may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by Euro Pacific may be less than the rebates Euro Pacific receives from the relevant market. For example, Euro Pacific may receive enhanced rebate payments for exceeding volume thresholds on particular markets, but typically will not pass these enhancements directly to clients.
  2. The Options Regulatory Fee (“ORF”) is charged by the following exchanges: AMEX, BATS, BOX, CBOE, CBOE2, ISE, GEMINI, MIAX, MERCURY, NOM, NASDAQBX, PCX, PHLX.
  3. Fee applies to executions which clear in the “Customer” account with OCC. This will generally include Public Customer and Professional Customer transactions.
  4. Transaction fees are only charged for sell orders.
  5. Volumes on both US and Canadian markets contribute to sliding scale.

  • Commissions apply to all order types.
  • Commissions are not charged for US exercise and assignment.
  • Commissions are not charged for US cabinet buy-to-close trades.
  • Euro Pacific considers exchange fees and/or rebates in determining where to route an order. Under certain circumstances, Euro Pacific may route a marketable order to an exchange that is not currently posting the national best bid or offer (NBBO) but which may be willing to “step up” and execute the order at the NBBO, in order to avoid or reduce the exchange fee for executing the order. If this routing method is used, the client generally will pay a lower execution fee than client would have otherwise paid. In those cases where Euro Pacific routes to an exchange that is not currently posting the NBBO in order to reduce or avoid exchange fees, Euro Pacific will guarantee the client a fill at the NBBO at the time that Euro Pacific routed the order.
  • Volume breaks are applied based on monthly cumulative trade volume summed across all options contracts at the time of the trade. Contract volumes for advisor, separate trading limit, and broker accounts are summed across all accounts for the purpose of determining volume breaks. These fees are applied on a marginal basis for a given calendar month. If for example, you execute 12,000 US contracts in a month, your execution costs would be:
    10,000 contracts at USD 0.70
    2,000 contracts at USD 0.50
  • 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 contracts is submitted and 100 contracts execute, then you modify the order and another 100 contracts execute, a commission minimum would be applied to both 100 contract orders.
  • Order minimums will be applied to the individual legs of a COMBO order.

Europe

In the Fixed commission structure, you will be charged a single flat rate per contract that includes all commissions and all exchange, regulatory and other third party fees. VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.

 

Belgium Belgium

Commissions Minimum Per Order
All EUR 3.00 per contract EUR 3.00

Example

1 Contract = EUR 3.00

 

France France

Commissions Minimum Per Order
Index Options EUR 3.00 per contract EUR 3.00
Stock Options (Multiplier >= 100) EUR 3.00 per contract EUR 3.00
Stock Options (Multiplier < 100) EUR 0.40 per contract EUR 0.40

Example

1 Index Option Contract = EUR 3.00

 

Germany Germany

Commissions Minimum Per Order
Stock Options EUR 2.20 per contract EUR 2.20
All Index Options not listed below EUR 3.00 per contract EUR 3.00
DJ200 / DJ600 EUR 4.00 per contract EUR 4.00
DAX EUR 3.40 per contract EUR 3.40

Example

1 Stock Options Contract = EUR 2.20

 

Italy Italy

Commissions Minimum Per Order
Stock Options EUR 4.00 per contract EUR 4.00
Index Options EUR 6.00 per contract EUR 6.00

Example

1 Index Option Contract = EUR 6.00

 

Netherlands Netherlands

Commissions Minimum Per Order
USD-denominated Options USD 4.00 per contract USD 4.00
Mini-AEX Options EUR 0.60 per contract EUR 0.60
All Other EUR 3.00 per contract EUR 3.00

Example

1 EUR-denominated Contract = EUR 3.00

 

Norway Norway

Commissions Minimum Per Order
Index Options NOK 24 per contract NOK 24
Stock Options NOK 30 per contract NOK 30

Example

1 Index Option Contract = NOK 24.00

 

Spain Spain

Commissions Minimum Per Order
Stock Options EUR 1.80 per contract EUR 9.00
Index Options EUR 1.60 per contract N/A

Example

1 Stock Options Contract = EUR 9.00

 

Switzerland Switzerland

Commissions Minimum Per Order
Stock Options CHF 3.40 per contract CHF 3.40
Index Options CHF 5.60 per contract CHF 5.60

Example

1 Contract = CHF 5.60

 

United_Kingdom United Kingdom

Commissions Minimum Per Order
All GBP 3.40 per contract1 GBP 3.40

Example

1 Contract = GBP 3.40

 

Notes:

  1. Stamp duty on option exercise (UK=0.5%) is directly passed through to the customer.

  • Commissions apply to all order types.
  • All exchange and regulatory fees included.
  • Commissions are charged for exercise and assignment.
  • 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 contracts is submitted and 100 contracts execute, then you modify the order and another 100 contracts execute, a commission minimum would be applied to both 100 contract orders. Orders that persist overnight will be considered a new order for the purposes of determining order minimums.
  • Effective March 1, 2013, certain Italian stocks will be subject to a transaction tax. For additional details regarding the calculation of the tax, please refer here.
    Effective September 1, 2013, derivatives on those Italian securities subject to the transaction tax will similarly become subject to a transaction tax. For additional details regarding the derivative transaction tax, please refer here.

Asia-Pacific

Australia Australia

Commissions Minimum Per Order
Index options (ASX) AUD 4.00 per contract1 AUD 4.00
Stock Options AUD 0.60 per contract1 AUD 2.00

Example

1 ASX-listed Contract = AUD 4.00

 

Australian Index Options – Volume Incentive Tiers1,9

Tiered plans charge our low broker commissions, decrease based on volume, plus exchange, regulatory, and clearing fees, plus VAT where applicable. In cases where an exchange provides a rebate, we pass some or all of the savings directly back to you.10

Contract Volume (per month) Commissions (per contract) Minimum Per Order
<= 1,000 AUD 3.00 1 AUD 3.00
1,001 – 10,000 AUD 2.001 AUD 3.00
10,001 – 20,000 AUD 1.401 AUD 1.50
20,000 AUD 1.001 AUD 1.50

Example

1 Index Option = Euro Pacific Execution Fee AUD 1.50 + Exchange Fee AUD 0.45 = AUD 1.95

 

Exchange and Regulatory Fees

Australia Australia ASX

 

Hong_Kong Hong Kong

Commissions Minimum Per Order
Index Options HKD 60.00 per contract HKD 60.00
Stock Options2
SEHK Tier II Options5 0.4% of option value + exchange fee of HKD 1.00 per contract HKD 36.00
SEHK Tier III Options5 0.4% of option value + exchange fee of HKD 0.50 per contract HKD 36.00
All other stock options 0.4% of option value + exchange fee of HKD 3.00 per contract HKD 36.00
HHI HKD 40.00 per contract HKD 80.00
MHI HKD 34.00 per contract HKD 64.00

Example

1 Index Option = HKD 60.00

 

India India

Securities Transaction Tax, Exchange Charges, and GST

Product Standard Minimum Maximum
Options7 2 bps INR 6 INR 20 8

 

Japan Japan

Commissions Minimum
N225 Options (weekly and monthly)3 24 bps per Trade Value plus external fees JPY 200 per order
Stock Options (TSEJ) 4 JPY 180 per contract JPY 180 per contract

Example

1 Stock Option (TSEJ) Contract = JPY 180

 

Singapore Singapore

Commissions Minimum
NIFTY USD 5.70 per contract USD 5.70
SGD-denominated options SGD 10.00 per contract SGD 10.00

Example

1 Option (NIFTY) Contract = USD 5.70

 

South_Korea South Korea

Commissions Minimum Per Order
All 0.4% of option value KRW 2,000

Example

10 Contracts @ KRW 0.75 Premium (100,000 Multiplier) = KRW 3,000

 

Notes:

  1. The cost for exercise/assignments of ASX options will be 0.275 per contract for stock options and 0.75 per contract for index options.
  2. For all exercise and assignments standard stock commissions apply plus Stock Exchange Options Clearing House (SEOCH) fee of HKD 2.00 per contract.
  3. The cost of an exercise or assignment of the monthly Nikkei contract is 6 bps with a maximum of JPY 420 per contract for both Tiered Fixed and Tiered Volume Incentive models. The cost of an exercise or assignment of the weekly Nikkei contract is 130 JPY for both Tiered Fixed and Tiered Volume Incentive models.
  4. Introductory rate. This rate is subject to change.
  5. Tier II stock options are options on the following underlying symbols: 3, 4, 11, 17, 66, 135, 267, 293, 386, 388, 489, 762, 788, 857, 883, 902, 914, 1088(CSB only), 1171, 1211, 1339, 1359, 1816, 1928, 1988, 2328, 2388, 2628, 2800, 3323, 3888, 3968, 6030, 6837.
    Tier III stock options are options on the following underlying symbols: 23, 151, 330, 358, 390, 494, 728, 939, 992, 998, 1088(CSE only), 1186, 1398, 1800, 1880, 1898, 1919, 2038, 2282, 2333, 2600, 2777, 2888, 2899, 3328, 3800, 3988.
  6. Euro Pacific’s commission models are not guaranteed to be a direct pass-through of exchange and third-party fees and rebates. Costs passed on to clients in Euro Pacific’s commission schedule may be greater than the costs paid by Euro Pacific to the relevant exchange, regulator, clearinghouse or third party. For example, Euro Pacific may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by Euro Pacific may be less than the rebates Euro Pacific receives from the relevant market.
  7. For first 100 lots. Portion of order above 100 lots will be charged at INR 5 per lot.
  8. The maximum per order for NRIs will be INR 150
  9. Index Option volume will be combined with the Future and FOP trading volume for the tier break consideration.
  10. Euro Pacific’s Tiered commission models are not intended to be a direct pass-through of exchange and third-party fees and rebates. Costs passed on to clients in Euro Pacific’s Tiered commission schedule may be greater than the costs paid by Euro Pacific to the relevant exchange, regulator, clearinghouse or third party. For example, Euro Pacific may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by Euro Pacific may be less than the rebates Euro Pacific receives from the relevant market. For example, Euro Pacific may receive enhanced rebate payments for exceeding volume thresholds on particular markets, but typically will not pass these enhancements directly to clients.

  • Commissions apply to all order types.
  • All exchange and regulatory fees included except for Hong Kong stock options.
  • Commissions are not charged for exercise and assignment, except in Australia.
  • Cost-Plus Tiered pricing available for index options. See futures commissions for more information.
  • 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 contracts is submitted and 100 contracts execute, then you modify the order and another 100 contracts execute, a commission minimum would be applied to both 100 contract orders. Orders that persist overnight will be considered a new order for the purposes of determining order minimums.