ViewTrade Securities (“ViewTrade” or the “Firm”) is registered with the Securities and Exchange Commission (SEC) as a broker-dealer and is a member of the Financial Industry Regulatory Authority (FINRA). ViewTrade brokerage services are offered by ViewTrade Securities, Inc. Technology services are provided by Orbis Systems, Inc.
This document is meant to provide additional information and disclosures regarding our Firm pursuant to Regulation Best Interest.
Your financial professional is a Registered Representative of our Broker-Dealer. You can check your financial professional at www.brokercheck.finra.org which will allow you to search for your financial professional by name. Their respective profile will show you additional information about your financial professional and you can also find additional information about our firm.
In most cases, when making a recommendation to you regarding investments in your brokerage account or directly with an investment sponsor (known as “direct business”) your financial professional is acting in his/her capacity as a registered representative of our Firm (a broker-dealer). However, there are exceptions and whenever your financial professional acts in a capacity inconsistent with this guidance, such as a representative who is also associated with an unaffiliated registered investment advisor, you will receive updated notice in writing as to the capacity in which they are acting when making a recommendation.
You should understand there are material limitations to the recommendations your financial professional provides. The Firm approves and offers only certain account types, products, and securities. There may be additional account types, products, and securities that are not offered by the Firm, which may benefit you and your portfolio. In addition, those that we do offer, may be available at a lower cost through another firm.
Additionally, the financial professionals associated with our Firm are licensed to offer certain account types, products, and securities. In some cases, even when available through our Firm, your financial professional might not be able to recommend a particular account type, product, and/or security which may benefit you and your portfolio. You can check to see the licenses your financial professional holds, by visiting www.brokercheck.finra.org.
Although there is no minimum investment required to open a brokerage account with us, it is important to note some products will require a minimum investment, which can be found on their investment prospectus, offering materials, or similar document.
The Firm uses its industry knowledge and experience to provide brokerage services to retail clients. The firm seeks to understand our clients’ unique investment profiles and recommend investments and strategies consistent with their unique financial needs. However, the products and services offered by the Firm do vary and the investment philosophy, approach, risk, and objective of these investments will too. You should review the prospects or similar offering documents thoroughly before making an investment and contact your financial professional should you have additional questions.
The Firm and its associated professionals receive compensation directly from their customers or indirectly from the investments a customer makes. This compensation takes the form of an upfront commission and/or ongoing compensation, known as trailing compensation. It is important to note that the amount of compensation can change over time. In order to receive specific and the most up-to-date information, Customers should review the respective prospectus, offering document, and/or other transaction statement. Customers should discuss with their financial professional if they have any questions regarding compensation and/or conflicts of interest.
The Firm receives selling compensation when it buys or sells a security. This selling compensation is also referred to as a commission, markup/markdown, placement fee, or sales charge/load. Typically, the Firm receives selling compensation and shares a certain percentage of the selling compensation with your financial professional.
Because the amount of selling compensation charged can vary between different securities and products, this could create an incentive to sell certain investments over others. It could also create an incentive to conduct a higher number of transactions.
Understanding Share Classes
The amount of upfront selling compensation versus trailing compensation charged on certain products, such as mutual funds, variable annuities, or 529 investments will vary, depending on the share class selected. For mutual funds, typically, Class A shares will result in a higher upfront sales charge and lower trailing compensation, while the opposite is true for a Class C. In order to see a complete list of the share classes available for a particular investment and their respective costs, you should review the investment prospectus, offering document, and/or other transaction statement.
Product Costs and Fees
Financial professionals provide recommendations with respect to a broad range of investment products, including stocks, bonds, ETFs, mutual funds, annuities and alternative investments. Many investment products charge fees and costs that are separate from and in addition to the commissions and fees that the Firm and financial professionals receive. You can learn more about these fees and costs charged by an investment product by reviewing the investment product’s prospectus, offering memorandum, or other disclosure documents.
In addition to the commissions and sales charges described above, customers can also be charged direct fees and charges for miscellaneous account services, including, but not limited to transaction processing, transfers, margin, ticket charges, inactivity, and account maintenance. For a complete list of these charges and fees you should review your account agreement and/or fee schedule and discuss with your financial professional.
Registered Representative Specific Compensation
Registered representatives compensation package typically includes a percentage of the selling compensation described herein. Accordingly, your sales representative could be incentivized to recommend more costly products or recommend additional transactions to obtain a greater percentage of the overall revenues.
Additional Compensation from Third Parties
In addition to the commissions and sales compensation described above, the Firm also receives additional compensation from third-parties. This additional compensation could create an incentive for the Firm to recommend certain investments over others. It’s important to note, however, that the amount of compensation can change and vary between issuers and product sponsors. In order to receive specific and the most up-to-date information, Customers should review the respective prospectus, offering document, and/or other transaction statement.
Gifts and Entertainment A conflict of interest may arise when an employee receives or offers a gift, entertainment, or anything of value that creates an incentive for an employee, third party service provider, or a client to act in a certain way.
Shared Revenues and Payments from Third Parties As described above, we receive shared revenue, fees, and/or payments from our clearing firm which could create an incentive to offer or recommend certain activities and investments.
Acting in Principal Capacities We can earn a profit from buying and selling investments from our own accounts so we may have an incentive to encourage you to trade with us.
Outside Business Activities When approved, registered representatives may engage in certain outside business activities. This may include, but is not limited to: real estate, accounting, insurance, legal, and other professions. As a result, financial professional s may be incentivized to recommend certain products or services outside the scope of their relationship with the firm and they may benefit financial from these recommendations. In addition, employees may engage in personal trading or outside business activities (including board memberships/directorships) could conflict with a client or with the firm.
Political and Charitable Contributions The firm and/or its employees charitable and/or political donations could create the perception that the company or employee is seeking a quid pro quo.
Confidentiality The Firm and its employees are periodically exposed to confidential information which may benefit us or a client.
Supervision Conflicts When a manager is also producing, he/she may be incentivized to spend more time on revenue generating activities than supervision activities.
Recommendations to other financial professionals Other professionals (e.g., lawyers, accountants, insurance agents, etc.) may be recommended to clients or engaged directly by the client on an as‐needed basis. Although not directly compensated for these referrals to outside entities, your financial professional may receive referrals from these professionals, which might incentivize them to recommend a particular professional over another.
Our Firm does not provide tax, legal or accounting advice. Accordingly, we encourage each customer to consult their own personal tax, legal and/or accounting advisers in order to understand the potential consequences associated with a particular investment strategy.
Investing in securities involves risk of loss that customers should be prepared to bear. Different types of investments involve varying degrees of risk and there can be no assurance that any specific investment or investment strategy will be profitable for a customer’s investment portfolio. Past performance is not indicative of future results. A customer should not assume that the future performance of any specific investment, investment strategy, or product will be profitable or equal to past or current performance levels. We cannot assure that the investment objectives of any client will be realized. The following is a non-exhaustive list of risks associated with investing. For additional product-specific risks, customers should review their prospectus, offering document, or similar materials and consider them carefully prior to making an investment decision.
Fee Schedule Effective January 1, 2021*
$35 plus pass thru fee from ADR Sponsor, third parties
$20.00 per item
DK Items on DVP Trades
$25 per item plus interest (FFR+5%)
Domestic Voluntary Corp Actions/Reorganization
$50 per cusip per account
$75 per security
DTC Free Deliveries
$2 per security
$75 per event
$125 per security
Electronic delivery of confirms/statement/tax doc
Electronic to physical certificate conversion
$900 per security
$75.00 per account
Foreign Security Free Deliveries/Receives
$50 per movement
$75 per ACAT
In-coming Wire Fees – Domestic
In-coming Wire Fees – International
International Voluntary Corp Action/Reorganization
$100 per cusip per account
Lost Certificate Replacement
3% of certificate value ($250.00 minimum)
Low Priced Securities
$0.0002/shr with 5% notional trade value max.
$25 per event
Margin Sell out Fee
$25 per ticket
< $25,000 – FFR+700 bps
$25,001 – $100,000 – FFR+600 bps
$100,001 – $250,000 – FFR+500 bps
$250,001 – $1 million – FFR+400 bps
$1 million – $5 million – FFR+300 bps
$5 million and above – FFR+200 bps
Non-transferable stock held
$10 per month per stock
NSCC Illiquidity Fee
$250 per trade plus 15% interest/annum on NSCC charge
$5 per symbol per account
Out-going Wire Fees – Domestic
$20 per wire
Out-going Wire Fees – International
$30 per wire
as incurred pass thru
Paper check Draft (USD)
$5 per check
Stop payments on Issued Checks
$30 per check
Returned Checks/ACH Wires Recalls including Amendments
$30 per transaction
ACH Notice of Correction
$5 per notice
$2 per confirm
$5 per statement
Paper Prospectus Mailing
$2.50 per mailing
TOD Account Transfer Fee
$200 per transfer
Physical security deposits
not permitted / $500 if exception made
Physical Trade Settlement – not always known upfront
$300 per security
Postage for Paper confirms
$2 per daily confirm
Postage for Paper statements, tax docs
$5 per item
Reg 144 Sales
fees will vary. Need to confirm in advance
Reorg Physical Processing Fee
$125 plus transfer agent fees
Reorg Wire (UDS)
$20 per item
Reorg Wire (International)
$30 per item
$465 per security
$30 annual maintenance – $60 termination
$2 per item
Safe Keeping – certificates
$5 per month per account per cusip
Short Buy-in Fee
$25 per ticket
Standard Legal Transfers
$150 per security
Stock Borrow Fee
Fee set by market – pass thru as incurred
$10 per item
*ALL FEES SUBJECT TO CHANGE WITHOUT NOTICE*
**ViewTrade charges margin interest based on a tiered rate structure. Margin interest rates are calculated based on the average daily margin balance and assessed monthly. Margin interest rates are subject to change at the sole discretion of the Firm and without prior notice.