Brokerage fees can be confusing, luckily here at MintBroker transparency is MintBroker’s policy, so we’ve taken out the guesswork for you. Here’s an in-depth look at MintBroker’s account fees.
Account fees are costs billed to clients by MintBroker for certain transactions, inactivity, trading platform upgrades and market data subscriptions.
Currency exchange is highly speculative and vulnerable to fluctuations and therefore exposed to risk. The fluctuation could leave the value of your deposit / investment lower or higher than expected. The currency exchange rate will cause the investment value to either increase or decrease as money must be converted to US Dollar in order to trade with MintBroker. Please be aware your bank or preferred method of deposit may also charge a fee for the currency exchange which will be charged to you. This is not a MintBroker fee.
The first thing you must know is that MintBroker classifies fees into two groups, professional and non-professional. A “professional” is anyone qualified in any capacity with any state securities agency, any securities exchange or association or any commodities or futures contract market or association. That also includes any person who engaged as an investment advisor. To determine your professional or non-professional status, click here.
Let’s start with your trading platform. Once verified, the MintBroker web-based trading platform, also known as ActiveWeb, is available to you for free. With this platform users can enjoy features such as profit & loss summary, live charting and Level 1 quote data and watchlists.
Next is the MintBroker Pro, a desktop Level II trading software. This version of the platform is available for $49 a month and includes mobile trading accessibility. Features for MintBroker Pro are advanced charting, direct access order routing, hotkeys functionality and a variety of stop types.
If you are merely interested in mobile trading, share traders can have MintBroker’s robust platform in the palm of their hands for just $35 a month. MintBroker’s mobile app includes access to level II market data, account management and gives you the same fast executions of trades.
Market Data Types & Subscriptions
Now let’s discuss market data. Market data includes information on completed trades as
well as current price and volume availability of securities in different markets. Share traders can choose different market data subscriptions, each for a monthly fee.
Level-1 Exchange Data
Level 1 is a type of market data that displays standard trading information. Such information includes real-time bid/ask prices; bid/ask sizes and last size and price for securities trading on a stock exchange. The data provided by Level 1 quotes aid the share trader in getting constant prices for security purchases and sales in a fast-paced market. Remember, Level 1 quotes include just the necessary information of the security, not in-depth data that some active trades deem a necessity.
Level II Exchange Data
Level II or market depth data includes all of the standard trading information that Level I data provides in addition to more in-depth details on securities. Level II data is considered a necessity for most day traders as it is helpful in their attempt to make short-term predictions. This data gives share traders insight to not only the best bid and ask prices but the highest bid prices, lowest ask prices and ask/bid sizes. It can also tell what type of traders are buying or selling the security and its moving direction. Access to Level II data is a monthly fee of $40 in addition to the price of each Level II data tool subscription.
Example: Jane Rolle wants to subscribe to Level II pink sheets which are $50 a month. To subscribe to that version of pink sheets, she must first pay for access to Level II data which is $40 a month. Her monthly bill will be: $40 + $50 = $90
Market Data Subscriptions: * – professional fees
At MintBroker Level I data from exchanges such as Nasdaq, the New York Stock Exchange (NYSE) and The American Stock Exchange (AMEX) are included with every platform option.
Pink Sheets: Level I – $15|$30* Level II – $50|$75*
Pink sheets are daily publications of securities traded using the over-the-counter (OTC) market. Named after the pink paper the data was printed on, most companies of the securities on this exchange are too small to be listed on larger exchanges or don’t meet the requirements to join. Therefore, the OTC market is used to purchase and sell penny stocks.
OPRA Options: Level I – $15|$25* Level II – $50|$75*
The Options Price Reporting Authority (OPRA) options is a daily publication of the last sale and quote information from each options exchange. Options are a type of derivative security and a contract that gives the right but does not obligate the buy or sale of an asset at a specific price or before a particular time.
E-Mini Futures: Level I – $15
The E-mini futures is a contract that tracks the Standard& Poor’s 500 (S&P 500) stock market index. The S&P 500 is kind of index that tracks the stocks of 500 large-cap companies. This index can represent the market’s performance as it reports risks and returns of the most prominent companies.
Regional Quotes: Basic Level II – $15|$60*
Reginal quotes are a daily publication of the last sale and quote information of exchanges in the United States of America outside of New York City and registered with the Security Exchange Commission (SEC).
Nasdaq TotalView (Book Depth): Level II – $20|$100*
The Nasdaq TotalView is a Level II market data tool that provides data on every quote and order at every price level in the Nasdaq, NYSE, MKT and regional-listed securities traded on the Nasdaq. With this market data tool, share traders can access total displayed anonymous interest, see presented quotes and orders to specific market participants, and the size of all displayed quotes and orders. TotalView also supplies the Net Order Indicator (NOII) that provides information on opening and closing orders and the likely opening and closing price of a security.
News: Level II – $25
With Level II news users have access to newly released company earnings reports, announcements and surprises, mergers and acquisitions, major product releases and more.
NYSE ArcaBook: Level II – $15|$60*
NYSE ArcaBook shows the entire limit order book for NYSE Arca traded securities on a real-time basis. NYSE Arcabook contains data elements about NYSE Arca openings, closings, halt auctions, indicative match price, match volume, auction imbalance, and market imbalance. NYSE Arca is an electronic securities exchange in the U.S. on which exchange-traded products (ETP) and equities trade. An Exchange Traded Product is the general term for exchange-trades-funds (ETF) and exchange-traded-notes (ETN). The most popular ETPs are ETFs. An ETF tracks an index, a commodity, bonds, or a basket of assets. ETFs trade like a common stock on a stock exchange.
CME Futures: Level II – $50
The Chicago Mercantile Exchange (CME) futures gives you real-time data on the current bid/ask price quotes about futures and options traded in the CME. Data also includes opening and closing ranges, high-low prices, last sale prices, price limits and more.
MintBroker charges a $40 processing fee for withdrawals from your MintBroker account. When using your credit/debit card, there is a 3.5% withdrawal fee.
An inactivity fee of $50 is charged quarterly to an account making less than 15 trades within that trading quarter.
Mint Global Markets UK, Ltd., acts as an introducing broker to Mintbroker International Limited (registration number: 57292C), which is licensed by The Securities Commission of the Bahamas. Brokerage accounts and transactions are maintained and executed through MintBroker International, Ltd.
Mint Global Markets UK, Ltd. is registered in England and Wales (No. 10989337). Mint Global Markets UK, Ltd. (FCA No. 791308) is an Appointed Representative of Thornbridge Investment Management LLP (FCA No. 713859) which is authorised and regulated by the Financial Conduct Authority.