Account Fees

*Some Currency Transactions to meet margin calls or exchange rate transactions made at the customer’s request will be charged a fee as stated below:

When moving money between Reg. coded accounts such as your US trading account (Reg. code 01) and your foreign Reg. coded accounts such as (03 for US or foreign customers respectively) there will be a charge only for moves that involve different currencies. This means that when moving funds of the same currency there will be no charge. These funds may need to be moved in order to meet margin calls within your account that occur in one Reg. code. Even though the total balance of your separately coded accounts is large enough to not receive a call, United States regulation requires that we actually move the money between Reg. codes to meet the call. When these funds are moved inside of your account between Reg. codes we may have to convert currencies in order to do so and there will be a charge associated for that service. For those traders only trading US exchanges and transacting only in domestic (US) currency there will never be a charge for this service. The same applies to traders always trading a foreign exchange and having all funds traded within that Reg. code. Therefore, charges apply to accounts which have funding spread across multiple Reg. codes and which trade multiple exchanges, whether foreign or domestic.

Ironbeam charges fees such as exchange, clearing, brokerage and commissions that may change from time to time.

*Certain fees on contracts may exceed $1000.

*PhillipCapital reserves the right to substitute an ACH for a check withdrawal at its discretion (no fee will be assessed).

**Bank Details must be on file or payments can be delayed.

****PhillipCapital accrues in interest on a daily basis for each currency and each origin and posts actual interest once a month. Debit interest applies when you have a negative equity and/or margin deficit in a currency and origin; the formula used to calculate debit interest amount is as follows: Debit interest = (equity – IMR) *(debit interest rate/100) * (1/360).

*After 1 year of non-trading, you would be charged a monthly inactivity fee of $15.00 per month.  Once you enter a trade or close a trade at any lot size the inactivity would be reset.

**Bounced Checks cost:  There is no fee for bounced checks or eChecks.  However, a bank statement will be required in order to proceed with trading on your forex account.

***Stop Payments cost:  You would not be charged a stop payment fee if you reissue another check unless it is for overnight delivery.  Unfortunately, if you were to request overnight paper check delivery and you request for a stop payment, that $15.00 overnight delivery fee will not be compensated.