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There are no fees and no cash minimum to open an account. However, there is a minimum $2,000 deposit required for margin and options accounts.
There are a couple of fees that are important to note:
- The Administration fee to $25 per quarter. This fee is easily waived for clients who:
- hold $15,000+ in cumulative assets,
- contribute at least $100 monthly to a PAC,
- make at least two trades per quarter, or
- have been a client for less than 6 months
- A Paper Statement Fee of $5 per quarter, which is charged to clients that receive paper statements and trade confirmations.
Visit the Commissions & Fees section of the website for more information on the fees applicable to your account.
The margin requirement depends on the price and number of shares that you plan to buy on margin. Visit the Types of Accounts section to learn more about trading on margin.
No. Unlike many other online brokers, Credential Direct’s commissions are truly flat; there are no hidden ECN fees. Visit the Commissions & Fees section of the website for more on our commissions.