Regulations
- Table 2. Overnight interest rate on CFDs (in effect till 19.01.2026)
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 till 19.01.2026)
Initial and Minimum Margin rates for CFD transactions
Metals Long position Short position Initial Margin Minimum Margin Concentration rate Initial Margin Minimum Margin Concentration rate XAG/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 Margin Minimum Margin Concentration rate Initial Margin Minimum Margin Concentration rate 2% 2% 5% 2% 2% 5% - Table 4. List of stocks and exchange-traded funds (ETFs) approved for margin trading (in effect from 19.01.2026)
List of stocks and exchange-traded funds (ETFs) requiring 25% Initial and 20% Minimum Margin
Security Long position Short position Initial margin Minimum margin Initial margin Minimum margin AAPL: Apple 50% 40% 50% 40% ADBE: Adobe 50% 40% 50% 40% AMZN: Amazon.com 50% 40% 50% 40% AVGO: Broadcom 50% 40% 50% 40% BRKB: Berkshire Hathaway Class B 50% 40% 50% 40% COST: Costco Wholesale Corporation 50% 40% 50% 40% DIS: Walt Disney Company 50% 40% 50% 40% GOOGL: Alphabet 50% 40% 50% 40% GOOG: Alphabet 50% 40% 50% 40% KO: The Coca-Cola Company 50% 40% 50% 40% META: Meta Platforms 50% 40% 50% 40% MSFT: Microsoft Corporation 50% 40% 50% 40% NFLX: Netflix 50% 40% 50% 40% NVDA: NVIDIA 50% 40% 50% 40% PEP: Pepsico 50% 40% 50% 40% TMF: Direxion Daily 20+ Year Treasury Bull 3X Shares 50% 40% 50% 40% TQQQ: ProShares UltraPro QQQ 50% 40% 50% 40% QQQ: Invesco QQQ Trust Series I 50% 40% 50% 40% SPY: SPDR S&P 500 ETF Trust 50% 40% 50% 40% DIA: SPDR Dow Jones Industrial Average ETF Trust 50% 40% 50% 40% TLT: iShares 20+ Year Treasury Bond ETF 50% 40% 50% 40% VOO: Vanguard S&P 500 ETF 50% 40% 50% 40% BOXX: Alpha Architect 1-3 Month Box ETF 50% 40% 50% 40% TSLA: Tesla 50% 40% 50% 40% UNH: UnitedHealth Group 50% 40% 50% 40% WMT: Walmart 50% 40% 50% 40% LLY: Eli Lilly & Co. 50% 40% 50% 40% JPM: JPMorgan Chase & Co. 50% 40% 50% 40% V: Visa 50% 40% 50% 40% MA: Mastercard 50% 40% 50% 40% XOM: Exxon Mobil Corporation 50% 40% 50% 40% PG: The Procter & Gamble Company 50% 40% 50% 40% JNJ: Johnson & Johnson 50% 40% 50% 40% ABBV: AbbVie 50% 40% 50% 40% HD: Home Depot 50% 40% 50% 40% CRM: Salesforce 50% 40% 50% 40% BAC: Bank of America Corporation 50% 40% 50% 40% CVX: Chevron Corporation 50% 40% 50% 40% ORCL: Oracle Corporation 50% 40% 50% 40% MU: Micron Technology 50% 40% 50% 40% IBM: International Business Machines Corporation 50% 40% 50% 40% CSCO: Cisco Systems 50% 40% 50% 40% MCD: Mcdonald’s Corporation 50% 40% 50% 40% QCOM: Qualcomm 50% 40% 50% 40% GS: Goldman Sachs Group Inc. 50% 40% 50% 40% NOW: Servicenow, Inc. 50% 40% 50% 40% PLTR: Palantir Technologies Inc. 50% 40% 50% 40% - Table 4. List of stocks and exchange-traded funds (ETFs) requiring 25% Initial and 20% Minimum Margin (in effect till 19.01.2026)
Security Long position Short position Initial margin Minimum margin Initial margin Minimum margin AAPL: 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 B 25% 20% 25% 20% COST: Costco Wholesale Corporation 25% 20% 25% 20% DIS: Walt Disney Company 25% 20% 25% 20% GOOGL: Alphabet 25% 20% 25% 20% GOOG: Alphabet 25% 20% 25% 20% KO: The Coca-Cola Company 25% 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 Shares 25% 20% 25% 20% TQQQ: ProShares UltraPro QQQ 25% 20% 25% 20% TSLA: Tesla 25% 20% 25% 20% UNH: UnitedHealth Group 25% 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 ETF 30% 24% 30% 24% AMDY: YieldMax AMD Option Income Strategy ETF 30% 24% 30% 24% CONY: YieldMax COIN Option Income Strategy ETF 30% 24% 30% 24% - Table 5․ Overnight rate for open positions with securities (in effect till 19.01.2026)
- Account Maintenance and Transfers (in effect till 23.07.2025) 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.
1. Account Maintenance and Transfers 1.1․ Account opening Free of charge 1.2. Account maintenance Free of charge 1.3. Provision of statements, references and extracts 1.3.1. Defined by Company regulations and other Free of charge 1.3.2. Provision of non-standard statements, referencesand extracts1.3.2.1. RA residents AMD 20,000 (one statement, reference or extract is provided freeof charge if a securities sale-purchase transaction is made on theClient's account within 30 calendar days prior to the provisiondate)1.3.2.2. RA non-residents USD 50 or equivalent other currency (one statement, reference orextract is provided free of charge if a securities sale-purchasetransaction is made on the Client's account within 30 calendar daysprior to the provision date)1.4. Transfer of Securities 1.4.1. Internal transfer of securities (DVP/FOP/ST) 1.4.1.1. RA residents AMD 10,000 1.4.1.2. RA non-residents USD 50 or equivalent in other currency 1.4.2. External 1.4.2.1. DVP transfer of securities 0-0,75% (if the transfer requires certification by the Agent, then 0-2%) of the transaction volume1.4.2.2. FOP transfer of equity securities 0-0,75% (if the transfer requires certification by the Agent, then 0-2%) of the total market value of the securities that are the subjectof the transaction1.4.2.3. FOP/ST transfer of debt securities 0-0,75% (if the transfer requires certification by the Agent, then 0-2%) of the total nominal value of the securities that are the subjectof the transaction1.5. Securities safekeeping 0-1% of the total market value of equity securities per annum (total nominal value of debt securities) (the fee is charged quarterly) 1.6. Withdrawal of funds / Transfer of securities 1.6.1. In case funds (securities) are kept in the account for less than 6 months 0-3% 1.6.2. In case funds (securities) are kept in the account for more than 6 months 0-1.5% 1.7. Account closure Free of charge - Trades with Shares and ETFs(in effect till 23.07.2025) 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:
1․ RA market 2.1.1. RA residents 0.3% of the trade volume, min. AMD 2,000 2.1.2. RA non-residents 0.3% of the trade volume, min. USD 5 or equivalent in othercurrency2.2. Overseas markets 2.2.1. USA USD 0,02 per share, min. USD 1 2.2.2. Canada CAD 0,04 per share, min. CAD 1 2.2.3. France, Germany, United Kingdom, Switzerland 0.1% of the trade volume, min. USD 1 (or EUR 1, or GBP 1, CHF 1or other currency in which the security is denominated)2.2.4. Australia 0.24% of the trade volume, min. AUD 12 2.2.5. Other (RF included) (3) 0,1-4% of the trade volume, min. USD 1 (or EUR 1, or GBP 1, CHF1 or other currency in which the trade is done)2.2.6. Borrowing rate for short positions Defined according to Table 3 published on the Website - Trades with Bonds (in effect till 23.07.2025) 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:
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) - Trades with Options (in effect till 23.07.2025) 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:
1. USA 1.1 Based on stocks and exchange-traded funds (ETFs) USD 3 per contract 1.2 Other USD 5 (or EUR 5, or GBP 5, or other currency in which the option is denominated) per contract 2․ France, Germany, United Kingdom USD 5 (or EUR 5, or GBP 5, or other currency in which the option is denominated) per contract - Currency Exchange (in effect till 23.07.2025) 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. (4) The commission is charged in the currency specified in the currency pair denominator.
1․ Without trading platforms
1․1 Currency pair including AMD and/or RUB 0-3% of the trade volume 1.2 Other currency pairs 0-1% of the trade volume 2. With trading platforms (4) 2.1 EUR/USD currency pair 0% of the trade volume 2.2 Basic currency pairs (AUD/ USD, GBP/USD, USD/JPY, USD/CHF, USD/CAD, NZD/USD) 0.25% of the trade volume 2.3 USD/AMD, EUR/AMD, GBP/AMD, USD/RUB, EUR/RUB, GBP/RUB, RUB/AMD 0% of the trade volume 2.4 USD/AMD, EUR/AMD, GBP/AMD, USD/RUB, EUR/RUB, GBP/RUB, RUB/AMD 0% of the trade volume 2.5 Other currency pairs 0․4% of the trade volume
