Regulations
- Portfolio Management and other services (in effect till 23.07.2025)
As per agreement.
Tariffs set in foreign currency are charged at the exchange rate announced by the Central Bank against the Armenian dram․ Tariffs include only standard fees of Agents of “APRICOT CAPITAL” CJSC (hereinafter – the Company) (unless otherwise specified in the Tariffs), while non-standard fees charged by the Company’s Agents for transactions (including bank transfers) are subject to compensation by the Client. Commission amounts are rounded to 1 digit after the decimal point in the case of AMD and to 2 digits in the case of foreign currency, however, depending on the characteristics of the Agent through which the Client’s instruction or order is executed, the rounding of the commission may be to the detriment of the Client. In the absence of the appropriate currency funds on the Client’s Brokerage or Custody account, the Company has the right to charge the commission in another currency, equivalent to the commission or convert the Client’s funds expressed in another currency (in the amount of commissions) for the purpose of charging the commission, except for the cases provided by RA legislation. In the above mentioned case, commission fees are charged at the exchange rate offered by commercial banks cooperating with the Company, which is most favorable for the Client. The basis for calculating the market value of securities is the data obtained from authoritative sources (for example, Bloomberg, Yahoo Finance e.t.c.), as well as the information provided by the Agents of the Company through which the custody of these securities is carried out. In the absence of the market value of depository receipts, the market value of the security underlying the depository receipt may also be taken as a basis. Depending on the Client’s business profile, the nature, volume and riskiness of the transactions made by him, by the decision of the Executive Director of the Company for the Client may be set tariffs different from the Tariffs mentioned in this decision, about which the Client is properly notified in advance. Tariffs do not include VAT and are subject to taxation in the cases specified by RA legislation.
- Table 1. The interest rates charged for loans provided by “Apricot Capital” CJSC to the Clients (in effect from 18.04.2025)
Currency
Percentage (Annual interest rate)
GBP 8 CAD 6․5 EUR 8 NZD 7․5 JPY 4 USD 8 CHF 4 AUD 7.1 SEK 7 RUB 22 AED 8 AMD 9 For the currencies mentioned in this Table, the Initial Margin rate for margin transactions is 5%, and the Minimum Margin rate is 4%.
Charged daily
- Table 2. Overnight interest rate on CFDs (in effect from 17.07.2024)
Overnight interest rate on CFDs (Annual interest rate)
Metals
Short
position
Long
position
XAG/USD: Silver / US Dollar -1.6 -13 AU/USD: Gold / US Dollar -1.3 -12.5 XAU/AUD: Gold / Australian dollar -0.2 -6.9 XAU/EUR: Gold / Euro -0.4 -10.5 Currency pairs
Short
position
Long
position
EUR/USD 0.4 -3.9 AUD/USD 0.6 -3.4 GBP/USD 1.3 -2.1 USD/JPY 11 1.9 USD/CHF 8.7 1.1 USD/CAD 2.6 -1 NZD/USD 1.6 -1.9 Other 10 – 10 - Table 3. Initial and Minimum Margin rates for CFD transactions (in effect from 17.07.2024)
Initial and Minimum Margin rates for CFD transactions
Metals Long position Short position Initial
MarginMinimum
MarginConcentration
rateInitial
MarginMinimum
MarginConcentration
rateXAG/USD: Silver / USD 7% 7% 10% 7% 7% 10% XAU/USD: Gold / USD 5% 5% 7% 5% 5% 7% XAU/AUD: Gold / AUD 5% 5% 7% 5% 5% 7% XAU/EUR: Gold / EUR 5% 5% 7% 5% 5% 7% Currency pairs Long position Short position Initial
MarginMinimum
MarginConcentration
rateInitial
MarginMinimum
MarginConcentration
rate2% 2% 5% 2% 2% 5% - Table 4. List of stocks and exchange-traded funds (ETFs) requiring 25% Initial and 20% Minimum Margin (in effect from 28.03.2025)
Security Long position Short position Initial
marginMinimum
marginInitial
marginMinimum
marginAAPL: Apple 25% 20% 25% 20% ADBE: Adobe 25% 20% 25% 20% AMZN: Amazon.com 25% 20% 25% 20% AVGO: Broadcom 25% 20% 25% 20% BRKB: Berkshire
Hathaway Class B25% 20% 25% 20% COST: Costco Wholesale Corporation 25% 20% 25% 20% DIS: Walt Disney
Company25% 20% 25% 20% GOOGL: Alphabet 25% 20% 25% 20% GOOG: Alphabet 25% 20% 25% 20% KO: The Coca-Cola
Company25% 20% 25% 20% META: Meta Platforms 25% 20% 25% 20% MSFT: Microsoft Corporation 25% 20% 25% 20% NFLX: Netflix 25% 20% 25% 20% NVDA: NVIDIA 25% 20% 25% 20% PEP: Pepsico 25% 20% 25% 20% TMF: Direxion
Daily 20+ Year Treasury Bull 3X Shares25% 20% 25% 20% TQQQ: ProShares UltraPro QQQ 25% 20% 25% 20% TSLA: Tesla 25% 20% 25% 20% UNH: UnitedHealth
Group25% 20% 25% 20% WMT: Walmart 25% 20% 25% 20% LLY: Eli Lilly & Co. 25% 20% 25% 20% JPM: JPMorgan Chase & Co. 25% 20% 25% 20% V: Visa 25% 20% 25% 20% MA: Mastercard 25% 20% 25% 20% XOM: Exxon Mobil Corporation 25% 20% 25% 20% PG: The Procter & Gamble Company 25% 20% 25% 20% JNJ: Johnson & Johnson 25% 20% 25% 20% ABBV: AbbVie 25% 20% 25% 20% HD: Home Depot 25% 20% 25% 20% CRM: Salesforce 25% 20% 25% 20% BAC: Bank of America Corporation 25% 20% 25% 20% CVX: Chevron Corporation 25% 20% 25% 20% ORCL: Oracle Corporation 25% 20% 25% 20% PM: Philip Morris International 25% 20% 25% 20% IBM: International Business Machines Corporation 25% 20% 25% 20% CSCO: Cisco Systems 25% 20% 25% 20% MCD: Mcdonald’s Corporation 25% 20% 25% 20% QCOM: Qualcomm 25% 20% 25% 20% GS: Goldman Sachs Group Inc. 25% 20% 25% 20% NOW: Servicenow, Inc. 25% 20% 25% 20% PLTR: Palantir Technologies Inc. 25% 20% 25% 20% NVDY: YieldMax
NVDA Option Income Strategy ETF30% 24% 30% 24% AMDY: YieldMax
AMD Option Income Strategy ETF30% 24% 30% 24% CONY: YieldMax
COIN Option Income Strategy ETF30% 24% 30% 24% - Table 5․ Overnight rate for open positions with securities (in effect from 17.07.2024)
- Table 6. Tariffs of trades with Futures (in effect from 17.07.2024)
Tariffs of trades with Futures
1. ASX: Australian Securities Exchange 5 AUD 2. CBOE: Chicago Board Options Exchange I. VIX: CBOE Market Volatility Index 10 USD II. VXM: Mini CBOE Market Volatility Index 5 USD 3. CBOT: Chicago Board of Trade exchange I. XK: Mini Soybean
ZW: Wheat
ZW-ZC: Chicago SRW Wheat / Corn10 USD II. Other 5 USD 4. CME: Chicago Mercantile Exchange I. ACD: AUD/CAD,
ECD: EUR/CAD5 CAD II. AJY: AUD/JPY, CJY: CAD/JPY,
ENY: E-mini Nikkei 225 – Yen denominated,
M6J: Micro USD/JPY, NIY: Nikkei/Yen,
PJY: GBP/JPY, RY: EUR/JPY5 JPY III. ANE: AUD/NZD 5 NZD IV. BTC: Bitcoin 60 USD V. GE: Eurodollar,
GF: Feeder Cattle10 USD VI. ETH: Ether 15 USD VII. BTE: Bitcoin Euro Futures,
ECK: CZK/EUR,
EHF: Hungarian Forint/Euro (HUF/EUR) Cross Rate,
EPZ: PLN/EUR,
ETE: Ether Euro Futures5 EUR VIII. CNH: USD/CNH 10 CNH IX. PSF: GBP/CHF,
RF: EUR/CHF5 CHF X. RP: EUR/GBP 5 GBP XI. ZAR: USD/ZAR 5 ZAR XII. Other 5 USD 5. COMEX: Commodity Exchange I. EHR: North European Hot-Rolled Coil Steel (Argus) 10 EUR II. Other 10 USD 6. EUREX: European Exchange I. BARH: Barclays 5 GBP II. FSMI: Blue Chip Index of SIX Swiss Exchange,
FSMS: Micro Blue Chip Index of SIX Swiss Exchange5 CHF III. Other 5 EUR 7. HKEX: Hong Kong Exchange 40 HKD 8. ICE: Intercontinental Exchange Europe I. ATW: Rotterdam Coal 15 USD II. C: European Emission Allowances 10 EUR III. NBP: UK Natural Gas 5 GBP IV. SA3: Three Month Saron Index Futures 10 CHF V. Other 5 USD 9. ICE: Intercontinental Exchange United States I. RS: Canola 5 CAD II. CC: Cocoa, KC: Coffee C, SB: Sugar No. 11 15 USD III. Other 5 USD 10. LIFFE: London International Financial Futures and Options
ExchangeI. C: Cocoa,
T: UK Feed Wheat,
Z: FTSE 100 Index,
XZ: FTSE 100 Dividend Index5 GBP II. I: Three Month Euribor 5 EUR III. RC: Robusta Coffee,
W: White Sugar5 USD 11. NYMEX: New York Mercantile Exchange 10 USD 12. OE: Osaka Exchange 400 JPY 13. SGX: Singapore Exchange I. JB: SGX 10-Year Mini Japanese,
NK: Nikkei 225 Index10 JPY II. UC: USD/CNH 10 CNH III. Other 5 USD 14. TOCOM: Tokyo Commodity Exchange 400 JPY - Account Maintenance and Transfers (in effect till 19.06.2025)
Account Maintenance and Transfers 1․ Account opening Free of charge 2․ Account maintenance Free of charge Provision of statements, references and extracts Defined by Company regulations and other normative legal acts Free of charge Provision of non-standard statements, references and extracts RA residents AMD 20,000 (one statement, reference or extract is provided free of charge if a securities sale-purchase transaction is made on the Client’s account within 30 calendar days prior to the provision date) RA non-residents USD 50 or equivalent other currency (one statement, reference or extract is provided free of charge if a securities sale-purchase transaction is made on the Client’s account within 30 calendar days prior to the provision date) Transfer of Securities (2)
Internal transfer of securities (DVP/FOP/ST)
RA residents
AMD 10,000 RA non-residents USD 50 or equivalent in other currency External
DVP transfer of securities
RA residents 0,1-0,75% (if the transfer requires certification by the Agent, then 0,1-2%) of the transaction volume, min. AMD 100,000 RA non-residents 0,1-0,75% (if the transfer requires certification by the Agent, then 0,1-2%) of the transaction volume, min. USD 300 or equivalent in other currency FOP transfer of equity securities RA residents 0,1-0,75% (if the transfer requires certification by the Agent, then 0,1-2%) of the total market value of the securities that are the subject of the transaction, min. AMD 100,000 RA non-residents 0,1-0,75% (if the transfer requires certification by the Agent, then 0,1-2%) of the total market value of the securities that are the subject of the transaction, min. USD 300 or equivalent in other currency FOP/ST transfer of debt securities RA residents 0,1-0,75% (if the transfer requires certification by the Agent, then 0,1-2%) of the total nominal value of the securities that are the subject of the transaction, min. AMD 100,000 RA non-residents 0,1-0,75% (if the transfer requires certification by the Agent, then 0,1-2%) of the total nominal value of the securities that are the subject of the transaction, min. USD 300 or equivalent in other currency Securities safekeeping (2) 0-1% of the total market value of equity securities per annum (total nominal value of debt securities) (the fee is charged quarterly) Withdrawal of funds / Transfer of securities In case funds (securities) are kept in the account for less than 6 months 0-3% In case funds (securities) are kept in the account for more than 6 months 0-1.5% Account closure Free of charge Tariffs set in foreign currency are charged at the exchange rate announced by the Central Bank against the Armenian dram․ Tariffs include only standard fees of Agents of “APRICOT CAPITAL” CJSC (hereinafter – the Company) (unless otherwise specified in the Tariffs), while non-standard fees charged by the Company’s Agents for transactions (including bank transfers) are subject to compensation by the Client. Commission amounts are rounded to 1 digit after the decimal point in the case of AMD and to 2 digits in the case of foreign currency, however, depending on the characteristics of the Agent through which the Client’s instruction or order is executed, the rounding of the commission may be to the detriment of the Client. In the absence of the appropriate currency funds on the Client’s Brokerage or Custody account, the Company has the right to charge the commission in another currency, equivalent to the commission or convert the Client’s funds expressed in another currency (in the amount of commissions) for the purpose of charging the commission, except for the cases provided by RA legislation. In the above mentioned case, commission fees are charged at the exchange rate offered by commercial banks cooperating with the Company, which is most favorable for the Client. The basis for calculating the market value of securities is the data obtained from authoritative sources (for example, Bloomberg, Yahoo Finance e.t.c.), as well as the information provided by the Agents of the Company through which the custody of these securities is carried out. In the absence of the market value of depository receipts, the market value of the security underlying the depository receipt may also be taken as a basis. Depending on the Client’s business profile, the nature, volume and riskiness of the transactions made by him, by the decision of the Executive Director of the Company for the Client may be set tariffs different from the Tariffs mentioned in this decision, about which the Client is properly notified in advance. Tariffs do not include VAT and are subject to taxation in the cases specified by RA legislation.
(2)The basis for calculating the tariff is the securities available on the customer’s account on an average daily basis of each quarter. The tariff does not include the fees charged by the Agent from the Company. The fees charged by the Company’s Agents for the purpose of executing the Client’s transaction are subject to compensation by the Client, even if the given transaction is not executed for reasons beyond the Company’s control.
- Trades with Shares and ETFs (in effect till 19.06.2025)
1․ RA market 1.1. RA residents 0.3% of the trade volume, min. AMD 2,000 1.2. RA non-residents 0.3% of the trade volume, min. USD 5 or equivalent in other currency 2. Overseas markets 2.1. USA USD 0,028 per share, min. USD 1.5 2.2. Canada CAD 0,04 per share, min. CAD 1.5 2.3. France, Germany, United Kingdom, Switzerland 0.1% of the trade volume, min. USD 1.5 (or EUR 1.5, or GBP 1.5, CHF 1.5 or other currency in which the security is denominated) 2.4. Australia 0.24% of the trade volume, min. AUD 12 2.5. Other (RF included) (3) 0,1-4% of the trade volume, min. USD 1.5 (or EUR 1.5, or GBP 1.5, CHF 1.5 or other currency in which the trade is done) Tariffs set in foreign currency are charged at the exchange rate announced by the Central Bank against the Armenian dram․ Tariffs include only standard fees of Agents of “APRICOT CAPITAL” CJSC (hereinafter – the Company) (unless otherwise specified in the Tariffs), while non-standard fees charged by the Company’s Agents for transactions (including bank transfers) are subject to compensation by the Client. Commission amounts are rounded to 1 digit after the decimal point in the case of AMD and to 2 digits in the case of foreign currency, however, depending on the characteristics of the Agent through which the Client’s instruction or order is executed, the rounding of the commission may be to the detriment of the Client. In the absence of the appropriate currency funds on the Client’s Brokerage or Custody account, the Company has the right to charge the commission in another currency, equivalent to the commission or convert the Client’s funds expressed in another currency (in the amount of commissions) for the purpose of charging the commission, except for the cases provided by RA legislation. In the above mentioned case, commission fees are charged at the exchange rate offered by commercial banks cooperating with the Company, which is most favorable for the Client. The basis for calculating the market value of securities is the data obtained from authoritative sources (for example, Bloomberg, Yahoo Finance e.t.c.), as well as the information provided by the Agents of the Company through which the custody of these securities is carried out. In the absence of the market value of depository receipts, the market value of the security underlying the depository receipt may also be taken as a basis. Depending on the Client’s business profile, the nature, volume and riskiness of the transactions made by him, by the decision of the Executive Director of the Company for the Client may be set tariffs different from the Tariffs mentioned in this decision, about which the Client is properly notified in advance. Tariffs do not include VAT and are subject to taxation in the cases specified by RA legislation.
In addition to the commissions mentioned above, the following fees are also charged by the Client:
- Trades with Bonds (in effect till 19.06.2025)
Trades with Bonds 1.USA, Europe 0.18% of the trade volume, min. USD 75 (or EUR 75, GBP or 75 or other currency in which the bond is denominated) 2. RA Primary market 2.1 RA residents 0.1% of the trade volume, min. AMD 7,000 2.2 RA non-residents 0.1% of the trade volume, min. USD 20 or equivalent in other currency 3. RA Secondary market 3.1 RA residents 0.1% of the trade volume, min. AMD 1,000 3.2 RA non-residents 0.1% of the trade volume, min. USD 10 or equivalent in other currency 4. Other (RF included) (3) 0,05-4% of the trade volume, (in the absence of information, from the volume of the nominal value) Tariffs set in foreign currency are charged at the exchange rate announced by the Central Bank against the Armenian dram․ Tariffs include only standard fees of Agents of “APRICOT CAPITAL” CJSC (hereinafter – the Company) (unless otherwise specified in the Tariffs), while non-standard fees charged by the Company’s Agents for transactions (including bank transfers) are subject to compensation by the Client. Commission amounts are rounded to 1 digit after the decimal point in the case of AMD and to 2 digits in the case of foreign currency, however, depending on the characteristics of the Agent through which the Client’s instruction or order is executed, the rounding of the commission may be to the detriment of the Client. In the absence of the appropriate currency funds on the Client’s Brokerage or Custody account, the Company has the right to charge the commission in another currency, equivalent to the commission or convert the Client’s funds expressed in another currency (in the amount of commissions) for the purpose of charging the commission, except for the cases provided by RA legislation. In the above mentioned case, commission fees are charged at the exchange rate offered by commercial banks cooperating with the Company, which is most favorable for the Client. The basis for calculating the market value of securities is the data obtained from authoritative sources (for example, Bloomberg, Yahoo Finance e.t.c.), as well as the information provided by the Agents of the Company through which the custody of these securities is carried out. In the absence of the market value of depository receipts, the market value of the security underlying the depository receipt may also be taken as a basis. Depending on the Client’s business profile, the nature, volume and riskiness of the transactions made by him, by the decision of the Executive Director of the Company for the Client may be set tariffs different from the Tariffs mentioned in this decision, about which the Client is properly notified in advance. Tariffs do not include VAT and are subject to taxation in the cases specified by RA legislation.
(3) The commission specified in this subsection is also applied in the case of Russian state/treasury and corporate securities (including OTC market), as well as Russian depository receipts. This commission does not include commissions charged by Company’s Agents.
In addition to the commissions mentioned above, the following fees are also charged by the Client:
