Share and ETF trading commissions

Exchange Commission Min commissions Price
American Stock Exchange  USD 0.015 per share USD 14 Below 10
  USD 0.018 per share USD 14 Above 10
Euronext Amsterdam 0.1% of Trade amount EUR 10 Any
Euronext Brussels 0.1% of Trade amount EUR 10 Any
NASDAQ OMX Copenhagen 0.1% of Trade amount DKK 29 Any
NASDAQ OMX Copenhagen (First North) 0.1% of Trade amount DKK 29 Any
Deutsche Borse (XETRA) 0.1% of Trade amount EUR 10 Any
NASDAQ OMX Helsinki 0.1% of Trade amount EUR 10 Any
Euronext Lisbon 0.1% of Trade amount EUR 10 Any
London Stock Exchange (IOB) 0.1% of Trade amount USD 14 Any
London Stock Exchange 0.1% of Trade amount GBP 7 Any
Borsa Italiana/Milan Stock Exchange 0.1% of Trade amount EUR 10 Any
NASDAQ USD 0.015 per share USD 14 Below 10
  USD 0.018 per share USD 14 Above 10
NASDAQ (Small Cap) USD 0.015 per share  USD 14 Below 10
  USD 0.018 per share USD 14 Above 10
New York Stock Exchange USD 0.015 per share USD 14 Below 10
  USD 0.018 per share USD 14 Above 10
New York Stock Exchange (ARCA) USD 0.015 per share USD 14 Below 10
  USD 0.018 per share USD 14 Above 10
OTC Markets Group (Pink Sheets) USD 25 when trade amount is below USD 50,000   Any
  0.15% of Trade amount when trade amount is above USD 50,000 USD 25 Any
Oslo Stock Exchange 0.1% of Trade amount NOK 62 Any
OTC Bulletin Board USD 25 when trade amount is below USD 50,000   Any
  0.15% of Trade amount when trade amount is above USD 50,000 USD 25 Any
Euronext Paris 0.1% of Trade amount EUR 10 Any
BME Spanish Exchanges 0.1% of Trade amount EUR 10 Any
NASDAQ OMX Stockholm 0.1% of Trade amount SEK 62 Any
NASDAQ OMX Stockholm (First North) 0.1% of Trade amount SEK 62 Any
SIX Swiss Exchange 0.1% of Trade amount CHF 15 Any
Vienna Stock Exchange 0.1% of Trade amount EUR 10 Any
SIX Swiss Exchange (Blue-chip) 0.1% of Trade amount CHF 15 Any
Warsaw Stock Exchange 0.3% of Trade amount PLN 72 Any
Hong Kong Exchange 0.15% of Trade amount HKD 140  Any

Exhange Data Subscription

All equities trade on actual market data from the stock exchanges. To receive and trade on real-time market data, you will have to subscribe to the individual exchange.

For clients who trade equities and subscribe to real time market data, Luminor Bank has introduced a refund scheme where fees are refunded. 

Exchange Data Subscription

Security Transfer

Security transfer from other bank/broker to Luminor Trade platform

In order to transfer stocks to Luminor Trade platform, send request and details to: trade@luminor.lt. Transfer fee is equal to min. comission for the exchange where particular stock is trading . (For example, USD 14 per U.S. share transfer, EUR 10 for the German share transfer, etc.), but not less than 57.92 EUR per portfolio.

Security transfer from Luminor Trade platform to other bank/broker

In order to transfer stocks from Luminor Trade platform, send request and details to: trade@luminor.lt. For transfers of stocks from Luminor Trade to your other broker, an exit fee of 30 EUR per ISIN will be charged.

Fee for U.S. source income reporting to IRS

Pursuant to the US regulations, every foreign financial intermediary is required to submit the information to the US tax institution Internal Revenue Service (IRS) on its customers that earn income in the USA. The income is treated as the distribution of US companies’ profit: dividends and similar payments. A US company is understood as the company registered in the USA, or a foreign company with the major proportion of its income earned in the USA. Financial instruments are corporate shares (stocks) and/ or exchange traded funds (ETFs).

Luminor Bank fulfils its duties and every year completes and submits the required forms to IRS. Because of such reporting Luminor Bank incurs certain costs, therefore the annual reporting fee shall be applied to the customers that have received the above income during the fiscal year. 

Fee for U.S. source income reporting to IRS

Fee is fixed at 90 USD per year

The fee is not applied when GlobeTax double taxation avoidance service is used and form W8-BEN submitted to GlobeTax. For more information see the next chapter: Pay 15% instead of 30% on dividends from USA

Fee shall be paid once a year on 2nd quarter. Luminor Bank shall charge this fee from the customer’s trading account, in case of insufficient funds, from the client‘s account in Luminor Bank. Funds in client‘s account will be converted into US dollars based on the currency exchange rate of that date set by the Bank of Lithuania.

NOTE
US legislative requirements referred to above may be incomplete and may be amended. The specific information submission regulations are set by IRS and (or) other US institutions, without any coordination with Luminor Bank. Luminor Bank does not assume any responsibility for the regulations of US IRS and (or) other US institutions and their publicising. Please, bear in mind that the annual reporting fee may not be treated as Luminor Bank obligation to provide tax advice with relation to Luminor Bank services or take any actions that might help the customer to optimise taxes, avoid double taxation and the like. The customer’s duty is to explore and pay the taxes applicable to its jurisdiction and legal form. If you need additional explanations, we urge you to contact tax advisors.

Pay 15% instead of 30% on dividends from USA

Luminor Trade clients, who choose to use GLOBE TAX SERVICES, INC. (further – GlobeTax) services, can activate trading in US market. In such case US registered financial instrument dividends will be applied with 15% withholding tax, if dividends are received by non USA resident.

Registration: Register at GlobeTax eCerts system: ecertsus.globetax.com

Access Code USDOCS56
User ID Luminor Trade user ID
Service fee Service is provided by GlobeTax and fee of 35 USD for 3 years is applied. More about Globe Tax and their services: www.globetax.com.
Activation

As soon as GlobeTax receives relevant filled form, your documentation will be evaluated and you will be informed if you're eligible for tax relief. If so, starting from the end of next month dividends received from USA registered financial instruments should be credited to your account with 15% tax instead of 30%.

Disclaimer
Information mentioned above does not oblige client to use GlobeTax services. Bank does not provide any tax consulting, client is fully responsible for complying with relevant jurisdiction laws and regulations. Banks does not accept any responsibilty for any changes in laws or double taxation treaties. Banks does not take responsibilty for quality of GlobeTax services, fees or change in conditions.

Frequently asked questions

1. What are benefits of this service?

Dividends paid by USA companies will be taxed by reduced 15% withholding tax (standard 30%).

2. How much does it cost to register with GlobeTax?

35 USD for 3 years. It is less than 12 USD per year.

3. If I register today, will IRS reprting fee of 90 USD will be applied?

If you already received dividends form USA companies this year and there was no valid your W-8 BEN  form at GlobeTax, then after tax year end Luminor Bank will have a duty to report your income to IRS and will charge you 90 USD fee till the end of 2nd quarter of the following year.

If all the US income in particular year was received after form W-8 BEN is submited, then IRS reporting fee 90 USD will not be charged from you.

4. When this service becomes active?

Once GlobeTax receives your registration form by mail and confirms successful registration, starting next Monday dividends received by USA companies will be taxed by 15% withholding tax.

5. How long this service is valid?

W-8 BEN becomes active from the submition moment and stays valid for next three calendar years. E.g. after you sign and submit the form W-8 BEN in year 2020, the service will be valid till 2023.12.31. Before the form expiration please submit updated form.

6. How to register to GlobeTax?

Registration instructions are here.

Tax Reclaim Service for Beneficial Owners

When you invest cross border, your investment income may be over-taxed before you receive it. Luminor Trade clients, who choose to use our partner's "Tax Reclaim Service for Beneficial Owners" services be able to reclaim some or all of this tax.

Custody fees for stocks and ETFs/ETCs valid from 2019 02 01

For accounts with stock or ETFs/ETCs positions a custody fee of 0.12% p.a. with a monthly minimum fee of EUR 0.50 will apply. The minimum custody fee will always be applied to a default account. The custody fee will be calculated daily using the end of day values and charged on a monthly basis.

  CUSTODY FEE P.A. MONTHLY MINIMUM FEE
Stocks 0.12 % of the amount EUR 0.50
ETFs/ETCs 0.12 % of the amount EUR 0.50

How to register on GlobeTax eCerts?

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