Table of Contents
Section 1. Brokerage Services
Section 2. Administrative Fees
Section 3. Regulatory FeesBrokerage Services
Fees charged by Ram Financial LLC (“Ram Financial”) 1, a registered broker-dealer and member of FINRA & SIPC, are listed below.
Stocks and ETFs:
| Fee Type | Fee |
| U.S.-Listed Stocks & ETFs | $0 |
| ADRs | Some ADRs are subject to custody fees. Fee information for a specific ADR may be obtained from that ADR's custodial bank |
Options:
| Fee Type | Fee |
| Options (Stocks & ETFs) | $0 |
| Options (Index Options)2 | $0.55 per contract |
Margin Interest Rate:
| Margin / Debit Balance | Margin Interest Rate3 |
| Up to $25,000 | 9.24% |
| $25,000 up to $100,000 | 8.74% |
| $100,000 up to $250,000 | 8.24% |
| $250,000 up to $500,000 | 7.74% |
| $500,000 up to $1,000,000 | 6.74% |
| $1,000,000 up to $3,000,000 | 6.24% |
| >$3,000,000 | 5.24% |
Administrative Fees
Ram Financial charges the administrative fees for brokerage accounts.
Transfer & Money Movement:
| Fee Type | Fee Amount |
| Automated bank transfer (ACH) into and out of your account |
Incoming ACH: $0 Outgoing ACH: $0 |
| Wire transfers into and out of your account4 |
Incoming wire (domestic): $8 Outgoing wire (domestic): $25 |
| ACAT transfers into and out of your account |
Incoming ACAT: $0 Outgoing ACAT: $75 |
| Domestic overnight check delivery | $50 |
| Returned check, ACH, or wire & recall/stop payments5 | $30 |
| Debit Card Funding - Deposits In | $0 |
| Debit Card Funding - Withdrawals to External Debit Card | Up to 1.75% of the amount withdrawn (min. fee $1; max. fee $150) |
| Incoming / Outgoing DRS Transfer Fee | $115 per symbol |
| Free Delivery / DTC Delivery | $25 per CUSIP / symbol |
Account Services:
| Fee Type | Fee Amount |
| Electronic delivery of account statements, trade confirmations, prospectuses, and tax forms | $0 |
| Paper trade confirmations | $2 per trade confirm |
| Paper account statements | $5 per statement |
| Paper Prospectus Fee | $2.50 per mail |
| Paper Tax Statements | $5 per statement |
| Domestic overnight mail | $50 |
| International overnight mail | $100 |
Account Maintenance:
| Fee Type | Fee Amount |
| Account maintenance | $0 |
| Escheatment processing | $75 |
| Worthless Securities Processing | $30 |
| Voluntary Corporate Action/Election (Reorg/Tender Offers) | $50 |
| Warrant Exercise Fee | $50 |
Regulatory Fees
Regulatory Trading Fees: 6
These are fees6 charged by regulatory agencies or exchanges and passed onto the investor. These fees are subject to change without notice. You should always check the current posted Fee Schedule before placing trades in your account.
| Fee Type | Fee Amount |
| SEC Regulatory Transaction Fee7 | $20.60 per $1,000,000 of principal (equity and equity option sells), rounded up to the nearest penny. |
| Trading Activity Fee (TAF) 8 | $0.000195 per share (equity sells) and $0.00329 per contract (options sells). This fee is rounded up to the nearest penny and no greater than $9.79 per trade. |
| Options Regulatory Fee (ORF)9 | $0.02295 per options contract (buys and sells) |
| OCC Clearing Fee10 | $0.02 per options contract (buys and sells) up to 2,750 contracts. $55 flat rate per trade for trades with over 2,750 contracts. |
1 Regulatory agencies charge fees for certain trades, which we pass onto you; see the Regulatory Fees section.
2 Exchanges also charge Ram Financial fees for index options trading, which we pass on to you to help cover our costs. See exchange fees for index options here.
3 The formula used to calculate the margin interest rates are subject to change at Ram Financial’s discretion. For details on the margin rates computations and charges, please see the Margin Disclosure Statement.
4 Check with your bank to see if they charge any additional fees. Additional wire transfer reversal fees charged by an originating intermediary or recipient bank may apply.
5 Check with your bank to see if they charge any additional fees.
6 For buy or sell orders of less than 10 equity option contracts, the total Regulatory Trading Fees will be capped at $0.05 per contract.
7 The published SEC regulatory transaction fee of $20.60 per $1,000,000 is effective April 4, 2026. Ram Financial reserves the right to pass-through any additional regulatory or exchange transaction fees.
8 TAF rates effective January 1, 2026. The limit on this fee is based on execution of your order, which can occur in parts. Prior to January 1, 2026, the TAF rates were: $0.000166 per share (equity sells) and $0.00279 per contract (options sells), capped at $8.30 per trade.
9 The Options Regulatory Fee (“ORF”) is a transaction fee that U.S. options exchanges assess their members. The ORF is collected by the OCC on behalf of the exchanges and varies by options exchange, where an options trade executes, and whether the broker responsible for the trade is a member of a particular exchange. Ram calculates a blended rate of $0.02295 based on the amount it is required to remit to the exchanges. The fee charged may differ from or exceed the actual fee paid in connection with any transaction.
10 The OCC Clearing Fee is charged by The Options Clearing Corp (OCC) who provides central counterparty clearing and settlement services. The purpose of the fee is to recover a portion of the costs related to supervision and regulation of the options markets.
Ram Financial LLC reserves the right to vary its rates and fees among customers in connection with special offers, promotions, or arrangements based on criteria such as account values, account balances or customer loyalty. Fees are subject to change at any time. This is not an offer, or solicitation of any offer to buy or sell any security, investment, or other product.
Processing and service fees assessed by third parties may be passed through to your Aries account. Some products and services may require additional fees or transaction minimums not specifically listed here. Prior to placing a trade or requesting any services, it is your responsibility to ask Ram Financial if any additional fees will apply.
Last updated as of April 8, 2026.