Notes:

1. IB's Tiered commission models are not guaranteed to be a direct pass-through of exchange and third-party fees and rebates. Costs passed on to clients in IB's Tiered commission schedule may be greater than the costs paid by IB to the relevant exchange, regulator, clearinghouse or third party. For example, IB may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IB may be less than the rebates IB receives from the relevant market.
2. Volume tiers are applied based on monthly cumulative trade volume summed across all futures and futures options contracts at the time of the trade. Only contracts that are traded while under the Volume Tiered pricing structure will count towards the monthly volume. Contract volumes for advisor, institutions, and broker accounts are summed across all accounts for the purpose of determining volume breaks. These fees are applied on a marginal basis for a given calendar month. If for example, you execute 1,500 US contracts in a month, your IB execution costs would be: 1,000 contracts at USD 0.60 and 500 contracts at USD 0.45
3. Carrying charges are applied for each net futures contract, net short call futures options, or net short put futures options on a single underlying for each business day the net futures position is held overnight. The carrying fee for accounts with excess equity in between the minimum requirement and 3x the minimum will have their carry fees extrapolated based on the table above.
4. Non-member exchange and regulatory fees are applied, unless a client is pre-qualified by IB. Contact your sales person for more information.
5. Exchange and Regulatory fees only apply for CFE.
6. For the purpose of determining the monthly volume tier, each Globex e-mini FX product will count as ½ the volume of one standard size future contract. Each Globex e-micro FX product will count as 1/10 the volume of one standard size future contract, i.e. for every 10 e-micro FX Globex product traded, the monthly volume will increase by 1.
7. 50 = NIFTY contract multiplier.
8. IB commissions will be charged only on the opening leg in case of intra-day trades on the NSE (positions opened and closed on the same day). No commissions will be charged on the closing leg, other charges apply on both legs (such as STT, reg fees, exchange fees and etc).

• Commissions apply to all order types.
• All fees are charged in the currency of the traded product.
• VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
• Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for 200 contracts is submitted and 100 contracts execute, then you modify the order and another 100 contracts execute, a commission minimum would be applied to both 100 contract orders. Orders that persist overnight will be considered a new order for the purposes of determining order minimums.

• Effective March 1, 2013, certain Italian stocks will be subject to a transaction tax. For additional details regarding the calculation of the tax, please refer here.
  Effective September 1, 2013, derivatives on those Italian securities subject to the transaction tax will similarly become subject to a transaction tax. For additional details regarding the derivative transaction tax, please refer here.

• The standard commission will be charged for the exercise or assignment of any Futures or Future Options Contract. Click here for details.
• Single Stock Futures are not available for volume tiered pricing.