Be Aware of Last Trading Day Fees and Inactivity Fees
For some brokerages, they are starting to charge a Last Trading Day Fee that is imposed by the clearing firms.
It can amount to $200 or more for contracts that are deliverable.
Check with your brokerage to see if you are subjected to the rule. If so, then remember to mark down the dates that you should switch to the next contract.
Another trend we’ve spotted is that some brokerages are charging inactivity fees. Some do it on a monthly basis, meaning that if your account is not active for a month, money is deducted from your trading account. Some do it on a yearly basis – when your account is inactive for a year, a fee is imposed.
If you keep several trading accounts yourself, then make sure you take the time to review the latest account policies to avoid being surprised by your brokerage like some of our readers.