Commission & Fees


 

I - Brokerage Commissions

1 - DIF Freedom Platform

Shares / ETF (Exchange Traded Fund)

France G, Germany, Portugal, Spain, Italy H, Netherlands and Belgium 0,20%, with minimum of EUR 12
Denmark F 0,20%, with minimum of DKK 215
Finland F 0,20%, with minimum of EUR 12
Norway 0,20%, with minimum of NOK 230
UK A
"London Stock Exchange" and "London Stock Exchange SETS Market" 0,20% with minimum of GBP 8
"London Stock Exchange SEAQ Market" 0,20% with minimum of GBP 15
London International Order Book (OIB) 0,40% , with minimum of USD 20
Sweden 0,20%, with minimum of SEK 150
Switzerland B 0,20%, with minimum of CHF 18
Australia 0,20%, with minimum of AUD 25
USA
Stock Exchange (AMEX) 20 USD when share price is < 5 USD
NASDAQ Capital Markets  
NASDAQ Global Markets 2 cents with a minimum of 15 USD when share price is > USD 5 
New York Stock Exchange (NYSE)  
USA – OTC E 0,15%, with minimum of USD 15
Canada – Toronto Stock Exchange (TSE)
TSX Venture Exchange
3 cents per share, with minimum of CAD 20
3 cents per share, with minimum of CAD 50
Hong Kong C 0,20% with minimum of HKD 150
Singapore D 0,20%, with minimum of SGD 25
Others 0,50%, with minimum of EUR 45

A Taxation on UK stocks- For UK stocks, a PTM levy and Stamp Duty may be applicable: A PTM (Panel for Takeovers and Mergers) Levy of GBP 1 applied to buy and sell transactions where the Gross Value of the trade exceeds GBP 10,000 A Stamp Duty is applied on all BUY transactions at the following rate: 0.5 % x Gross Value Trade.

B Taxation on Swiss stocks – For Swiss stocks, a Stamp Tax of 0.085% is payable on the gross value of the trade.

C Taxation on Hong Kong stocks – For Hong Kong stocks, a Stamp Tax of 0.109% is payable on the gross value of the trade.

DTaxation o Singapore stocks 0,04%, with a maximum amount of SGD 600

E SEC Section of $22,10 per million on US exchange CFD and stock SELL transactions where client orders.

F To negotiate the Nordic markets is mandatory the subscription of real time prices.

G Taxation on French stocks - 0.3% tax on the booking of Stock, only for buy trades that fall under the French FTT regulation (read more on www.tresor.economie.gouv.fr ).

H From 1 March 2013 the Italian Financial Transaction Tax (FTT) of 0,12% will go live on all purchases of Italian shares and Equity linked securites in listed companies that have a registered office in Italy. (Read More on www.tesoro.it/primo-piano/documenti/22022013_FTT_DECREE_EN.pdf ).

A.1 – DIF Broker does not provide it’s clients with the negotiation of warrants or second market stocks

A.2 – For the Dif Freedom’s Platform users, the market commissions, market taxes, are included, such as:

A.2.1 – Stamp duty of 4%, included in Dif Broker’s commissions;

A.2.2 – Trades done in the regulated markets: - 2€ / trade, included in the commissions.

A.3 – Commission for trading outside the regulated stock exchange - 4%

Forex Options

All trades EUR 0, for standard lots, 10 USD for trades below the standard lots.

Contract Options

Contract Currency Commission
AUD 10
CAD 6
CHF 8
EUR 6
GBP 5
HKD 45
JPY 1000
SEK 75
SGD 15
USD 6

Stock Options

Currency Commission
AUD 5
EUR 3
GBP 2.5
USD 3
CHF 4
HKD 30

Futures of Forex

Currency Total Commission
AUD 10 + market commission
USD 5 + market commission
CHF 11 + market commission
GBP 5 + market commission

Futures Contract of other Financial Instruments

American USD 5 per contract (online)
European EUR 5 per contract (online)
British GBP 5 per contract (online)
Australian AUD 10 per contract (online)
Japanese JPY 1500 per contract (online)
Swiss CHF 11 per contract (online)
Hong Kong HKD 100 per contract (online)
Canadian CAD 25 per contract (online)
Brasil BRL 30 per contract (online)

Note: These prices are exclusive of exchange fees which are charged separately

CFD: Stocks and ETF

European Stocks, value above EUR 5.000  EUR 0 Market Spread +/- 0,25%
European Stocks, value below EUR 5.000  EUR 12 Market Spread +/- 0,25%
Athens Exchange, value above EUR 5.000  EUR 0 Market Spread +/- 0,6%
Athens Exchange, value below EUR 5.000  EUR 12 Market Spread +/- 0,6%
FFT Stocks, value above EUR 5.000  EUR 0 Market Spread +/- 0,35%
FFT Stocks, value below EUR 5.000  EUR 12 Market Spread +/- 0,35%
USA Stocks, value below USD 5.000  USD 20 Price below 10, Market Spread +/- 2 cents*traded quantity
USA Stocks, value below USD 5.000  USD 20 Price above 10, Market Spread +/- 3,5 cents*traded quantity
USA Stocks, value above USD 5.000  USD 0 Price below 10, Market Spread +/- 2 cents*traded quantity
USA Stocks, value above USD 5.000  USD 0 Price above 10, Market Spread +/- 3,5 cents*traded quantity
Toronto Stock Exchange, value below CAD 10.000  CAD 20 Price above 1, Market Spread +/- 3 cents*traded quantity
Toronto Stock Exchange, any  CAD 20 Price below 1, Market Spread
Toronto Stock Exchange, value above CAD 10.000  CAD 0 Price above 1, Market Spread +/- 3 cents*traded quantity
TSX Venture Exchange, value below CAD 10.000  CAD 20 Price below 10, Market Spread +/- 2,5 cents*traded quantity
TSX Venture Exchange, value below CAD 10.000  CAD 20 Price above 10, Market Spread +/- 4 cents*traded quantity
TSX Venture Exchange, value above CAD 10.000  CAD 0 Price below 10, Market Spread +/- 2,5 cents*traded quantity
TSX Venture Exchange, value above CAD 10.000  CAD 0 Price above 10, Market Spread +/- 4 cents*traded quantity

CFD: Stocks and ETF in other currencies

Currency Value Commission Market Spread
AUD Below 10000 10 + / - 0,25%
  Above 10000 0 + / - 0,25%
HUF Below 3000000 6000 + / - 0,5%
  Above 3000000 0 + / - 0,5%
CHF Below 15000 18 + / - 0,25%
  Above 15000 0 + / - 0,25%
DKK Below 100000 65 + / - 0,25%
  Above 100000 0 + / - 0,25%
GBP Below 8000 8 + / - 0,25%
  Above 8000 0 + / - 0,25%
CZK Below 250000 500 + / - 0,25%
  Above 250000 0 + / - 0,25%
NOK Below 100000 65 + / - 0,25%
  Above 100000 0 + / - 0,25%
PLN Below 35000 80 + / - 0,45%
  Above 35000 0 + / - 0,45%
SEK Below 100000 65 + / - 0,25%
  Above 100000 0 + / - 0,25%
HKD Below 95000 90 + / - 0,25%
  Above 95000 0 + / - 0,25%

CFD: Index

Dax, Cac e Stoxx50 (Europe) EUR 0 Spread of the Index (minimum 3)*
S&P, Nasdaq (USA) USD 0 Spread of the Index (minimum 1)*
Dow (USA) USD 0 Spread of the Index (minimum 7)*
ASX/SP200 (Austrália) AUD 0 Spread of the Index (minimum 4)*
FTSE100 (UK) GBP 0 Spread of the Index (minimum 3)*
OMX (Sweden) SEK 0 Spread of the Index (minimum 1)*
SMI (Switzerland) CHF 0 Spread of the Index (minimum 3)*
NI225 (Japan) JPY 0 Spread of the Index (minimum 20)*
* Indicative minimum spread under normal market conditions. There may be instances when market conditions cause spreads to widen beyond the spreads displayed here.

Italian FTT for Derivatives

Nominal Value (Euros) Futures / Options of Index CFD Stock / Index
0 - 2,5K 0,00375€ 0,25€
2,5 - 5K 0,00075€ 0,5€
5 - 10k 0,015€ 1€
10 - 50k 0,075€ 5€
50 - 100k 0,15€ 10€
100 - 500k 0,75€ 50€
500 - 1000k 1,5€ 100€
> 1000k 3€ 200€

CFD: Commodites*

All commodites EUR 0
UK Gas Oil Minimum Spread 1,25
Natural Gas Minimum Spread 0,017
Corn Minimum Spread 1,25
Copper Minimum Spread 0,55
Wheat Minimum Spread 2,25
* If you intend to trade another CFD of commodities you should contact Dif Broker or consult the trading conditions in your trading platform Dif Freedom.

CFD: Forex

All currencies USD 0, for standard lots, 10 USD for lots below standard
Cross Commission under the standard lot Volume transacted (up) Spread*
AUDUSD USD 10 AUD 10.000.000 0.00030
  AUD 20.000.000 0.00040
  > AUD 20.000.000 0.00040
EURCHF USD 10 EUR 10.000.000 0.00030
  EUR 15.000.000 0.00035
  EUR 20.000.000 0.00040
  > EUR 20.000.000 0.00040
EURGBP USD 10 EUR 10.000.000 0.00030
  EUR 15.000.000 0.00035
  > EUR 15.000.000 0.00035
EURJPY USD 10 EUR 8.000.000 0.045
  EUR 15.000.000 0.050
  EUR 20.000.000 0.055
  > EUR 20.000.000 0.055
EURUSD USD 10 EUR 10.000.000 0.00030
  EUR 20.000.000 0.00045
  EUR 25.000.000 0.00055
  > EUR 25.000.000 0.00055
GPBUSD USD 10 GBP10.000.000 0.00030
  GBP15.000.000 0.00035
  GBP20.000.000 0.00045
  > GBP20.000.000 0.00045
NZDUSD USD 10 NZD4000.000 0.00040
  NZD8.000.000 0.00050
  NZD15.000.000 0.00070
  > NZD15.000.000 0.00070
USDCAD USD 10 USD 6.000.000 0.00040
  USD 12.000.000 0.00050
  USD 25.000.000 0.00070
  > USD 25.000.000 0.00070
USDJPY USD 10 USD 12.000.000 0.025
  USD 20.000.000 0.030
  USD 25.000.000 0.035
  > USD 25.000.000 0.035
* The above differential target are our best possible differential under normal market conditions. During periods of volatile markets, overnight in Europe or during the release of key economic data, the gap can be increased and autorun can be slowed or disabled. If you intend to trade another Cross you should contact Dif Broker or consult the trading conditions in your trading platform Dif Freedom.

CFD: Metals

Gold USD 0, for standard lots, 10 USD for non-standard lots Minimum Spread 0,6
Silver USD 0, for standard lots, 10 USD for non-standard lots Minimum Spread 3,5

CFD: Futures

All Futures EUR 0

Margin Requirements: CFD

Stocks / ETF Variable, depends on the instrument.
Indices 10%
Currencies Variable, depending upon the cross (2%-50% of the nominal value)
Commodities / Futures 1% - 10% of the traded value
* The mentioned margin requirements for CFD are indicative. There may be situations in which market conditions may cause an increase in the mentioned margin requirements. If you intend to trade a specific CFD you should contact Dif Broker or consult the trading conditions in your trading platform Dif Freedom.

 

Impacts of Leverage

CFD of ETF, Stocks, Index and Bonds
CFD Long overnight positions - you pay LIBOR plus 4,5%
CFD Short overnight positions - we pay LIBID minus 4% (*)
(*) – If the rate is negative, then the clients must pay the difference.

The costs above mentioned correspond to the maximum value that can be charged.

In case that LIBOR or LIBID are negative, it will be considered zero, for the calculation of leverage cost rate. Thereby only the spread will be taken into account.

CFD of Forex
The rollover in CFD of Forex positions are made in a daily basis and they are calculated according to the info in Rollover of Forex positions.

CFD of Commodities
In CFD of Commodities, all the costs are included in the spread.

Note: Prices are subject to market conditions and may be changed without a prior notice.

Carrying Cost on Futures, Listed Options and Expiring CFDs

Overnight positions in Futures, Listed Options and Expiring CFDs are subject to a carrying cost.
The carrying cost is calculated on the basis of the daily margin requirement and applied when a position is held overnight.
The funding rate used for calculating the carrying cost is based in the relevant Interbank-rate + markup (150 bps).

Carrying Cost = Margin requirement * Holding time * (Relevant Interbank rate + Markup) / (365 or 360 days)

Holding Fee on Long Positions in Listed Options

Long dated Listed Options are subject to an holding fee. The Holding Fee varies depending on the underlying asset class (Category) and will only apply to bought options with maturity beyond 120 days.
The fee will be calculated based on the below schedule and charged end-of-month.

Holding Fee per day = Nominal Value / 1,000,000 * Underlying Category Fee

Bought Options daily holding fees per million (Nominal Value)
Category Interest rates Foreign-exchange rates and Gold Equities Precious metals, except gold Commodities, except precious metals
>120 days maturity 0.1 0.7 1.1 1 1.6

 

Borrowing Costs on Short CFD of Stocks Overnight Positions

A borrowing cost will be applied to short CFD positions held overnight. This borrowing cost is dependent on the liquidity of the stocks and may be 0€ for high liquidity stocks.

The specific borrowing rate for a stock can be seen as the "Borrowing Rate" under "Account » Trading Conditions » CFD Stock/Index Instrument List" in the trading platforms. When selling a CFD, the borrowing cost for holding the position overnight is shown in the CFD Trade module in the "Est. borrowing cost per day" field.

The borrowing rate will be fixed when the position is opened and will be charged on a monthly basis.


Bonds

  Normal Minimum
Brokerage Commissions 0,25% 10 €
Interest 1% + VAT 2,5 € + VAT
Redemption 0,2% + VAT 5 € + VAT

For Bond positions an annual custory fee applies as follows:

Currency of Bond Annual Custody Fee
EUR 0,15%
USD 0,30%
GBP 0,30%
NOK 0,30%
DKK 0,30%
CZK 0,30%
Other Currencies 0,45%
The custody fee is charged monthly.


2 - DIF Options Platform

Buying brokerage commission: 6 usd by contract+ exchange fees;
Selling brokerage commission: 1,2%*d/360, over the theoretical value traded, being "d" the number of days running with open position.
 


 

II - Portfolio Management

  • Sucess Fee - 20%(Charged on the net profits);
  • Annual Fixed Fee - 3%(This commission is calculated based on the daily account value under management), plus VAT;
  • Minimum amount to open account - EUR 25,000.00

 

III - Investment Consulting

- Up to 3% per year, charged monthly, based on the value of the account on the last day of each month and subject to a minimum of €50, plus VAT.
- Account opening minimum - €25,000.00
 

IV - Other Commissions

  • Custody and safekeeping of securities: DIF may charge up to 4 euros per market/per month.
  • Dif Broker will not charge for the simply reception of orders.
  • Annual maintenance rate for account held at Dif Broker and with no movements and still open : € 36, plus VAT;
  • Withdrawal commission: € 1,25 per Withdrawal.
  • Comission of transfer in other currencie than Euro: up to 0.30% with min. of € 35. and max. of € 120, plus tax stamp; communication costs, from intermediary banks, charged by financial institutions will be charged to the client.
  • US Tax Code Section 1441: For clients that trade on the American market, is charged an annual fee of € 40 plus VAT.
  • The cost of information in real time or even with delay is the responsibility of the client and can be done directly on the Dif Freedom platform. For more information you should contact Dif Broker.

Services Pricing

  Normal Minimum
Dividends 1% 2,5 €
Interests, other credits   50%, Min.3 €
Reimbursement 0,5% 5 €
Rights exercise 0,5% 5 €
Expenses and letters 2,5€  
IPO’S 0,2% 5 €
Conversion of Shares or market values exempt  
Withdrawals / Transfers of Financial Values   Price X Amount X 4bps with a min. of 90€ per share
Transfer of securities between accounts in Dif Broker   10 €
Certificates and Several Certifications   50 €
Copies of issued statements (duplicates)   50 €
Monthly report: EMIR (companies) 60 € per year  

 

All DIF Broker Fees charged are subject to VAT at the legal rate;

DIF Broker will add or deducted a spread of 0,6% for currency conversion, where transactions are made in currencies other than the base currency of the account. Currency conversions of trading costs as well as profits and losses from trading activities are done based on the close the rate as of 17:00 New York time.

 

Dif-Broker, Sociedade Corretora, S.A. is a Financial Intermediary registered under the CMVM with the nº 276, authorized to provide the investment service contained in points a), b), c) and f) of nº1 of the article 290 and point a) and c) of article 291 of the Code VM.