# Pricing — Light Horse Securities

Trade US stocks and ETFs for free. No maintenance fees, no inactivity fees.

## Commissions

| Fee | Amount |
|---|---|
| US Stocks & ETFs | $0 |

## Margin

| Fee | Amount |
|---|---|
| Annual Margin Rate | 6.75% |

Calculated daily, charged monthly.

## Short Selling

| Fee | Amount |
|---|---|
| Stock Loan Fee | Market rate |
| Stock Locate Fee (Hard-To-Borrow) | Market rate |

## Deposits & Withdrawals

| Fee | Amount |
|---|---|
| ACH Deposit & Withdrawal | $0 |
| Returned Wire or ACH | $30 |
| ACH Correction Fee | $10 |
| Incoming Wire — Domestic | $8 |
| Incoming Wire — International | $14 |
| Outgoing Wire — Domestic | $25 |
| Outgoing Wire — International | $50 |
| Check Request — Domestic | $5 |
| Check Request — International | $10 |
| Check Copy | $15 |

Minimum initial deposit $100. No minimum on subsequent deposits.

## Stock Transfers

| Fee | Amount |
|---|---|
| Inbound ACAT | $0 |
| Outbound ACAT | $95 |
| DRS Transfer | $165 / security |
| DWAC Transfer | $150 |
| DTC Delivery | $50 / security |
| TOD Account Transfer | $250 |
| DRS or DWAC Rejection | $125 |

## Corporate Actions & Dividends

| Fee | Amount |
|---|---|
| Domestic Voluntary Corporate Action | $50 |
| International Voluntary Corporate Action | $100 |
| Mandatory Corporate Action | $0 |
| Reorg Physical Processing Fee | $125 |
| Reorg Wire Fee — Domestic | $25 |
| Reorg Wire Fee — International | $50 |

Transfer agent may charge additional fees.

## Regulatory Fees

| Fee | Amount |
|---|---|
| SEC (Section 31) | $20.60 / $1M proceeds |
| TAF — Equities | $0.000195 / share (max $9.79) |
| TAF — Options | $0.00329 / contract |
| ORF | $0.00329 / contract |
| OCC Clearing Fee | $0.025 / contract |

SEC, TAF, and ORF apply to sell transactions only. OCC applies to all option trades. Rates effective: SEC April 4, 2026; TAF and ORF January 1, 2026.

## Postage & Statements

| Fee | Amount |
|---|---|
| Electronic Statements | $0 |
| Electronic Confirmations | $0 |
| Paper Statements | $2 |
| Paper Confirmations | $2 |
| Paper Prospectus — Domestic | $2.50 |
| Overnight Mail — Domestic | $50 |

---

Fees are subject to change. Regulatory fees are set by regulators and may be updated periodically.