PHX Commission Policy Requirements for stocks

• FINRA Rule 2121 includes the 5% Guideline as the traditional benchmark for broker-dealers’ maximum equity transactions compensation. When the 5% Guideline may not be applicable to other products, PHX takes Rule 2121 into consideration.

·While FINRA provides a 5% guideline for commissions, PHX retail commissions are typically lower and generally equal to the following rates listed below. Please note that commissions may be discounted below the rates shown below on a case by case basis and generally will not exceed the amounts below except for in certain limited circumstances*:

• Equities, ETFs, Unit Investment Trusts (UITs), Mutual Funds** – 3.5%,

• Options – 4%

• Fixed Income -2%

• Notwithstanding the above, PHX generally charges a firm minimum commission of $49 per transaction.

 

* Circumstances which may warrant a commission higher than the amounts listed may include but are not limited to: the price of a security, the amount of money being invested, difficulty of executing a transaction, or the complexity of the overall investment strategy.

**Certain mutual fund liquidation compensation built into the fund may exceed the 3.5% on redemptions.

 

 

AXOS Clearing Firm Fees:

• AXOS clearing may charge additional commissions and other fees for clearance or any other service furnished to you and

• You may pay such additional commissions and fees at Axos Clearing's then prevailing rates.

• Commissions and service fees may be changed from time to time, upon 30 days prior written notice