### Stocks - Tiered Commissions

We charge a minimum fee for US stock trades allocated by Advisors or Brokers to their clients. By default, the allocation minimum is charged to the client account unless there is a specific rate arrangement between the client and the master account. Advisors can elect to charge the allocation minimum fee to their master account.

 Minimum Trade Allocation Fees Minimum (trade value * 0.0005, USD 0.35) Example 1 100 Shares executed at a price of USD 10.00 allocated to two accounts (50/50): Allocation Size = 50 Trade Value = USD 500 Minimum (500 * 0.0005, USD 0.35) = Minimum (0.25, 0.35) New Tiered Commisions Per Allocation = 0.25 Example 2 50 Shares executed at a price of USD 100.55 allocated to two accounts (30/20): 30 Share Allocation Trade Value = USD 3016.50 Minimum (3016.50 * 0.0005, USD 0.35) = Minimum (1.50, 0.35) New Tiered Commission for 30 Share Allocation = USD 0.35 20 Share Allocation Trade Value = USD 2011 Minimum (2011 * 0.0005, USD 0.35) = Minimum (1, 0.35) New Tiered Commission for 20 Share Allocation = 0.35

### Stocks - Fixed Commissions

We charge a minimum fee for US stock trades allocated by Advisors or Brokers to their clients. By default, the allocation minimum is charged to the client account unless there is a specific rate arrangement between the client and the master account. Advisors can elect to charge the allocation minimum fee to their master account.

 US Stocks Minimum (trade value * 0.0005, USD 1) Example 1 100 Shares executed at a price of USD 100.00 allocated to two accounts (50/50): Allocation Size = 50 Trade Value Per Allocation = USD 5,000 Minimum (5000 * 0.0005, USD 1) = Minimum (2.5, 1) New Total Fixed Commission Per Allocation = 1.00 Example 2 100 Shares executed at a price of USD 24.00 allocated to two accounts (50/50): Allocation Size = 50 Trade Value Per Allocation = USD 1200 Minimum (1200 * 0.0005, USD 1) = (0.6, 1) New Total Fixed Commission Per Allocation = 0.60