Pricing
One commission schedule, no hidden fees. What you see here is what you pay, plus third-party costs passed through at cost.
Figures highlighted on this page are placeholders pending approval of the fee schedule. Final rates are set out in the client agreement and the costs and charges disclosure.
Commissions by asset class
Commissions apply per trade. Third-party exchange, clearing and regulatory fees are passed through at cost and shown separately on your confirmation.
| Asset class | Commission | Minimum per trade | Notes |
|---|---|---|---|
| Stocks & ETFs, United States | 0.02 USD per share | 2 USD | Exchange and regulatory fees passed through |
| Stocks & ETFs, Europe | 0.05% of trade value | 5 EUR | Stamp duties and transaction taxes where applicable |
| Stocks & ETFs, Asia-Pacific | 0.08% of trade value | 10 USD | |
| Currencies | Spread from 0.3 pips, plus 0.01% | None | Spot and settlement conversions |
| Futures | 1.50 USD, EUR or GBP per contract | None | Exchange and clearing fees passed through |
| Options | 1.50 USD or EUR per contract | None | Exercise and assignment at the same rate |
| Bonds | 0.03% to 0.15% of nominal, by segment | 50 EUR | Dealer spread disclosed per trade |
| Structured notes | From 0.50% of nominal | None | Issuer fees embedded in the note are disclosed separately |
Account and custody
There is no fee for opening or holding an account. Custody is charged on the value of assets held.
| Item | Fee | Notes |
|---|---|---|
| Account opening | None | Individual, corporate and trust accounts |
| Custody | 0.10% per year, charged monthly | On the market value of securities held |
| Inactivity | None | |
| Incoming transfers | None | Bank charges of the sending bank may apply |
| Outgoing transfers, SEPA | 10 EUR | |
| Outgoing transfers, SWIFT | 25 EUR | Correspondent bank charges may apply |
| Securities transfers in or out | 25 EUR per line | |
| Market data | Real-time prices included | Market depth and professional feeds at exchange cost |
| Statements and reports | Included | Monthly statements, trade confirmations, annual tax report |
Currency conversion
Conversions for trading and settlement are executed at the interbank rate plus 0.10%. The rate applied is shown on every confirmation and statement. Accounts can hold balances in several currencies, so you convert only when you choose to.
Advice and portfolio management
Investment advice is charged on a retainer or per project, agreed in advance in writing. Discretionary portfolio management carries a management fee from 0.75% per year on assets under management, charged quarterly. A performance fee applies only where it is agreed in the mandate, and always with a high-water mark.
Brokerage commissions on transactions within a managed portfolio are charged at the rates above, and we do not receive inducements from product providers.
What is not included
- Exchange, clearing and regulatory fees charged by third parties, passed through at cost
- Stamp duties and financial transaction taxes, for example UK stamp duty reserve tax, French and Italian financial transaction taxes
- Fees embedded by issuers in structured products and funds, disclosed separately before you invest
- Correspondent-bank charges on international transfers
Before any transaction we provide ex-ante information on all costs and charges, and once a year a statement of the costs you actually paid, in line with MiFID II.