Fee Schedule

Last updated April 8, 2026

Fee Schedule

Last updated April 8, 2026

Fees charged by Ram Financial LLC (“Ram Financial”)¹, a registered broker-dealer and member of FINRA & SIPC, are listed below.

On this page: Brokerage services · Margin interest rates · Administrative fees · Regulatory fees · Index options exchange fees

Brokerage Services

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 Rates

Aries provides up to four times day-trade buying power and two times overnight buying power with a margin account. You must have at least $2,000 to qualify.

Interest on margin trading is calculated on a daily basis and paid on a monthly basis. The margin rate is variable and is determined by the size of the margin loan. The margin rate is set at our discretion and is subject to change without notice.

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%

Over $3,000,000

5.24%

Administrative Fees

Ram Financial charges the following administrative fees for brokerage accounts.

Transfers & 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Up to 1.75% of the amount withdrawn (min.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 fees⁶

These are fees charged by regulatory agencies or exchanges and passed on to 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. FINRA Trading Activity Fee (TAF): $0 for covered sales executed October 1–December 31, 2026, during FINRA’s temporary fee suspension. Applicable TAF charges resume January 1, 2027.

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.

Index Options Exchange Fees

Exchanges charge Ram fees for index options trading. We pass these fees on to you, which helps us cover our costs. We do not profit from these exchange fees. The following table shows the exchange fees for specific index option symbols.

Index option symbol

Quantity threshold

Price threshold

Simple / complex order

Exchange fee per contract

XSP

Qty executed ≤ 9 contracts

All

All

$0.00

XSP

Qty executed > 9 contracts

All

All

$0.07

SPX

All

Premium ≤ $0.99

All

$0.57

SPX

All

Premium > $0.99

All

$0.66

SPXW

All

Premium ≤ $0.99

All

$0.50

SPXW

All

Premium > $0.99

All

$0.59

VIX/W

All

Premium ≤ $0.10

Single-leg order

$0.10

VIX/W

All

$0.10 < Premium ≤ $0.99

Single-leg order

$0.25

VIX/W

All

$0.99 < Premium ≤ $1.99

Single-leg order

$0.40

VIX/W

All

Premium > $1.99

Single-leg order

$0.45

VIX/W

All

Premium ≤ $0.10

Multi-leg order

$0.05

VIX/W

All

$0.10 < Premium ≤ $0.99

Multi-leg order

$0.17

VIX/W

All

$0.99 < Premium ≤ $1.99

Multi-leg order

$0.30

VIX/W

All

Premium > $1.99

Multi-leg order

$0.45

NANOS

All

All

All

$0.00

CBTX

All

All

All

$0.50

MBTX

All

All

All

$0.25

XND

All

All

All

$0.00

NDX

All

Premium ≤ $24.99

Single-leg order

$0.25

NDX

All

Premium > $25

Single-leg order

$0.50

NDX

All

Premium ≤ $24.99

Multi-leg order

$0.50

NDX

All

Premium > $25

Multi-leg order

$0.75

Notes

  1. Regulatory agencies charge fees for certain trades, which we pass on to 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 Index Options Exchange Fees.

  3. The formula used to calculate the margin interest rates is subject to change at Ram Financial’s discretion. For details on the margin rate 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) which 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.

Download the Fee Schedule (PDF) · Download Index Options Exchange Fees (PDF)

Need Help

Questions about these documents?

Contact Aries support through in-app chat or email during business hours.

Need Help

Questions about these documents?

Contact Aries support through in-app chat or email during business hours.

Join the Aries Discord

Market talk, product updates, and the team: live every trading day.

© 2026 Aries. All rights reserved.

All investing involves risk, including loss of principal. Brokerage services are offered through RAM Financial LLC (DBA ‘Aries’), a wholly owned subsidiary of Aries Financial, Inc. RAM Financial LLC is an SEC-registered broker-dealer and a member of FINRA and SIPC. Securities accounts are carried by Apex Clearing Corporation, member FINRA and SIPC. Check the background of RAM Financial LLC and Apex Clearing Corporation on FINRA’s BrokerCheck. Options are not suitable for all investors. Options trading requires approval, and available strategies depend on your approval level. You can lose the entire premium paid; certain strategies can result in losses exceeding your initial investment. Multi-leg strategies involve exercise, assignment and expiration risks. Read Characteristics and Risks of Standardized Options before trading. Contact Aries support to request a copy. $0 commissions apply to eligible electronically placed U.S.-listed stock, ETF, equity-option and ETF-option trades in RAM Financial LLC self-directed individual brokerage accounts. Index-option trades cost $0.55 per contract, plus applicable exchange and regulatory fees. Other trading, account and service fees may apply. See the Fee Schedule. SIPC protection applies when a SIPC-member brokerage firm fails and customer cash or securities are missing, subject to eligibility and statutory limits. Supporting documentation for claims, comparisons, recommendations, statistics and other technical data will be supplied upon request. SIPC does not protect against investment losses. Learn more at SIPC.

Fee Schedule

Last updated April 8, 2026

Fee Schedule

Last updated April 8, 2026

Fees charged by Ram Financial LLC (“Ram Financial”)¹, a registered broker-dealer and member of FINRA & SIPC, are listed below.

On this page: Brokerage services · Margin interest rates · Administrative fees · Regulatory fees · Index options exchange fees

Brokerage Services

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 Rates

Aries provides up to four times day-trade buying power and two times overnight buying power with a margin account. You must have at least $2,000 to qualify.

Interest on margin trading is calculated on a daily basis and paid on a monthly basis. The margin rate is variable and is determined by the size of the margin loan. The margin rate is set at our discretion and is subject to change without notice.

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%

Over $3,000,000

5.24%

Administrative Fees

Ram Financial charges the following administrative fees for brokerage accounts.

Transfers & 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 fees⁶

These are fees charged by regulatory agencies or exchanges and passed on to 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. FINRA Trading Activity Fee (TAF): $0 for covered sales executed October 1–December 31, 2026, during FINRA’s temporary fee suspension. Applicable TAF charges resume January 1, 2027.

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.

Index Options Exchange Fees

Exchanges charge Ram fees for index options trading. We pass these fees on to you, which helps us cover our costs. We do not profit from these exchange fees. The following table shows the exchange fees for specific index option symbols.

Index option symbol

Quantity threshold

Price threshold

Simple / complex order

Exchange fee per contract

XSP

Qty executed ≤ 9 contracts

All

All

$0.00

XSP

Qty executed > 9 contracts

All

All

$0.07

SPX

All

Premium ≤ $0.99

All

$0.57

SPX

All

Premium > $0.99

All

$0.66

SPXW

All

Premium ≤ $0.99

All

$0.50

SPXW

All

Premium > $0.99

All

$0.59

VIX/W

All

Premium ≤ $0.10

Single-leg order

$0.10

VIX/W

All

$0.10 < Premium ≤ $0.99

Single-leg order

$0.25

VIX/W

All

$0.99 < Premium ≤ $1.99

Single-leg order

$0.40

VIX/W

All

Premium > $1.99

Single-leg order

$0.45

VIX/W

All

Premium ≤ $0.10

Multi-leg order

$0.05

VIX/W

All

$0.10 < Premium ≤ $0.99

Multi-leg order

$0.17

VIX/W

All

$0.99 < Premium ≤ $1.99

Multi-leg order

$0.30

VIX/W

All

Premium > $1.99

Multi-leg order

$0.45

NANOS

All

All

All

$0.00

CBTX

All

All

All

$0.50

MBTX

All

All

All

$0.25

XND

All

All

All

$0.00

NDX

All

Premium ≤ $24.99

Single-leg order

$0.25

NDX

All

Premium > $25

Single-leg order

$0.50

NDX

All

Premium ≤ $24.99

Multi-leg order

$0.50

NDX

All

Premium > $25

Multi-leg order

$0.75

Notes

  1. Regulatory agencies charge fees for certain trades, which we pass on to 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 Index Options Exchange Fees.

  3. The formula used to calculate the margin interest rates is subject to change at Ram Financial’s discretion. For details on the margin rate 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) which 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.

Download the Fee Schedule (PDF) · Download Index Options Exchange Fees (PDF)

Need Help

Questions about these documents?

Contact Aries support through in-app chat or email during business hours.

Need Help

Questions about these documents?

Contact Aries support through in-app chat or email during business hours.

Join the Aries Discord

Market talk, product updates, and the team: live every trading day.

© 2026 Aries. All rights reserved.

All investing involves risk, including loss of principal. Brokerage services are offered through RAM Financial LLC (DBA ‘Aries’), a wholly owned subsidiary of Aries Financial, Inc. RAM Financial LLC is an SEC-registered broker-dealer and a member of FINRA and SIPC. Securities accounts are carried by Apex Clearing Corporation, member FINRA and SIPC. Check the background of RAM Financial LLC and Apex Clearing Corporation on FINRA’s BrokerCheck. Options are not suitable for all investors. Options trading requires approval, and available strategies depend on your approval level. You can lose the entire premium paid; certain strategies can result in losses exceeding your initial investment. Multi-leg strategies involve exercise, assignment and expiration risks. Read Characteristics and Risks of Standardized Options before trading. Contact Aries support to request a copy. $0 commissions apply to eligible electronically placed U.S.-listed stock, ETF, equity-option and ETF-option trades in RAM Financial LLC self-directed individual brokerage accounts. Index-option trades cost $0.55 per contract, plus applicable exchange and regulatory fees. Other trading, account and service fees may apply. See the Fee Schedule. SIPC protection applies when a SIPC-member brokerage firm fails and customer cash or securities are missing, subject to eligibility and statutory limits. Supporting documentation for claims, comparisons, recommendations, statistics and other technical data will be supplied upon request. SIPC does not protect against investment losses. Learn more at SIPC.

Fee Schedule

Last updated April 8, 2026

Fee Schedule

Last updated April 8, 2026

Fees charged by Ram Financial LLC (“Ram Financial”)¹, a registered broker-dealer and member of FINRA & SIPC, are listed below.

On this page: Brokerage services · Margin interest rates · Administrative fees · Regulatory fees · Index options exchange fees

Brokerage Services

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 Rates

Aries provides up to four times day-trade buying power and two times overnight buying power with a margin account. You must have at least $2,000 to qualify.

Interest on margin trading is calculated on a daily basis and paid on a monthly basis. The margin rate is variable and is determined by the size of the margin loan. The margin rate is set at our discretion and is subject to change without notice.

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%

Over $3,000,000

5.24%

Administrative Fees

Ram Financial charges the following administrative fees for brokerage accounts.

Transfers & 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 fees⁶

These are fees charged by regulatory agencies or exchanges and passed on to 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. FINRA Trading Activity Fee (TAF): $0 for covered sales executed October 1–December 31, 2026, during FINRA’s temporary fee suspension. Applicable TAF charges resume January 1, 2027.

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.

Index Options Exchange Fees

Exchanges charge Ram fees for index options trading. We pass these fees on to you, which helps us cover our costs. We do not profit from these exchange fees. The following table shows the exchange fees for specific index option symbols.

Index option symbol

Quantity threshold

Price threshold

Simple / complex order

Exchange fee per contract

XSP

Qty executed ≤ 9 contracts

All

All

$0.00

XSP

Qty executed > 9 contracts

All

All

$0.07

SPX

All

Premium ≤ $0.99

All

$0.57

SPX

All

Premium > $0.99

All

$0.66

SPXW

All

Premium ≤ $0.99

All

$0.50

SPXW

All

Premium > $0.99

All

$0.59

VIX/W

All

Premium ≤ $0.10

Single-leg order

$0.10

VIX/W

All

$0.10 < Premium ≤ $0.99

Single-leg order

$0.25

VIX/W

All

$0.99 < Premium ≤ $1.99

Single-leg order

$0.40

VIX/W

All

Premium > $1.99

Single-leg order

$0.45

VIX/W

All

Premium ≤ $0.10

Multi-leg order

$0.05

VIX/W

All

$0.10 < Premium ≤ $0.99

Multi-leg order

$0.17

VIX/W

All

$0.99 < Premium ≤ $1.99

Multi-leg order

$0.30

VIX/W

All

Premium > $1.99

Multi-leg order

$0.45

NANOS

All

All

All

$0.00

CBTX

All

All

All

$0.50

MBTX

All

All

All

$0.25

XND

All

All

All

$0.00

NDX

All

Premium ≤ $24.99

Single-leg order

$0.25

NDX

All

Premium > $25

Single-leg order

$0.50

NDX

All

Premium ≤ $24.99

Multi-leg order

$0.50

NDX

All

Premium > $25

Multi-leg order

$0.75

Notes

  1. Regulatory agencies charge fees for certain trades, which we pass on to 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 Index Options Exchange Fees.

  3. The formula used to calculate the margin interest rates is subject to change at Ram Financial’s discretion. For details on the margin rate 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) which 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.

Download the Fee Schedule (PDF) · Download Index Options Exchange Fees (PDF)

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All investing involves risk, including loss of principal. Brokerage services are offered through RAM Financial LLC (DBA ‘Aries’), a wholly owned subsidiary of Aries Financial, Inc. RAM Financial LLC is an SEC-registered broker-dealer and a member of FINRA and SIPC. Securities accounts are carried by Apex Clearing Corporation, member FINRA and SIPC. Check the background of RAM Financial LLC and Apex Clearing Corporation on FINRA’s BrokerCheck. Options are not suitable for all investors. Options trading requires approval, and available strategies depend on your approval level. You can lose the entire premium paid; certain strategies can result in losses exceeding your initial investment. Multi-leg strategies involve exercise, assignment and expiration risks. Read Characteristics and Risks of Standardized Options before trading. Contact Aries support to request a copy. $0 commissions apply to eligible electronically placed U.S.-listed stock, ETF, equity-option and ETF-option trades in RAM Financial LLC self-directed individual brokerage accounts. Index-option trades cost $0.55 per contract, plus applicable exchange and regulatory fees. Other trading, account and service fees may apply. See the Fee Schedule. SIPC protection applies when a SIPC-member brokerage firm fails and customer cash or securities are missing, subject to eligibility and statutory limits. Supporting documentation for claims, comparisons, recommendations, statistics and other technical data will be supplied upon request. SIPC does not protect against investment losses. Learn more at SIPC.