Where Does The Rebate Come From?
Our competitors are generously compensated by exchanges and market-makers to steer customer orders in their direction. This form of compensation is best defined as “payment for order flow”.
Payment For Order Flow
Payment for order flow compensation is absorbed by the brokerage firm instead of being passed through to the customer.
- Average broker compensation: $1.25 to $1.75 per 1,000 shares transacted.
- Zero-based brokers and Discounters do not disclose compensation in per share terms, but we estimate they’re receiving between $1.25 to over $3.00 per 1,000 executed shares on average.
Our Pricing
OpenHand clients will earn MORE than the monthly subscription cost on payment for order flow alone!
Pricing Tiers
| Monthly Shares Traded |
Monthly Subscription Fee |
Avg rebate per share |
$ Rebate 50% of max tier shares |
|---|---|---|---|
| 0 - 9,999 | $1.00 | .0005 | $2.50 |
| 10,000 - 19,999 | $2.00 | .0005 | $7.50 |
| 20,000 - 29,999 | $3.00 | .0005 | $12.50 |
| 30,000 - 39,999 | $4.00 | .0005 | $17.50 |
| 40,000 - 49,999 | $5.00 | .0005 | $22.50 |
| 50,000 - 59,999 | $6.00 | .0005 | $27.50 |
| 60,000 - 69,999 | $7.00 | .0005 | $32.50 |
| 70,000 - 79,999 | $8.00 | .0005 | $37.50 |
| 80,000 - 89,999 | $9.00 | .0005 | $42.50 |
| 90,000 - 99,999 | $10.00 | .0005 | $47.50 |
| 100,000 - 499,999 | $50.00 | .0005 | $150 |
| 500,000 and above | $100.00 | .0005 | $300+ |
Rebate Calculator
Other Fees
| Margin Debit Interest | 5% |
| TAF Fee | $0.000130 per share, sell side only |
| SEC Fee | 0.0000221 x dollar amount, sell side only |
| NSCC Fee | 0.00003 per share, $0.18 maximum and $0.033 minimum |
| ADR Fee | Pass-Through |
| FOCUS Fee | 0.0000007 per share |
| SIPC Fee | 0.000015 per share |
| OpenHand Mobile | $0 |
| OpenHand Gold | $10 |
| Assisted Trade | $30 |