Giga-Markets (GM) uses a volume-based pricing model. Monthly trading volume in stocks and ETFs determines the applicable tiered commission rate at the time of trade execution. Only trades placed under the Tiered Pricing structure are included in the monthly volume calculation. For broker, institutional, and advisor-managed accounts, volumes are aggregated across all related sub-accounts to assess volume discounts. Tiered fees are applied on a marginal basis within a given calendar month.

For example:

• 300,000 shares traded may be billed at $0.0035/share
• The next 200,000 shares at $0.002/share

GM exclusive accounts offer commission-free trading on listed stocks and ETFs available on participating exchanges. However, certain instruments such as over-the-counter securities, delisted ETPs, warrants, overnight trades, or recurring automated investments are subject to GM's Fixed Pricing. GM exclusive accounts availability may be restricted based on account type and jurisdictional rules. Financial advisors may also provide GM exclusive accounts access to eligible clients.

Orders placed outside regular trading hours, including auction orders at market open or close, and trades in shares priced below $1.00, are commission-free under GM Lite—provided these orders do not exceed 10% of the account's monthly total share volume (excluding Fixed Pricing trades). Exceeding this threshold results in a commission of either $0.005 per share or 1% of the trade value, whichever is lower. Market orders submitted prior to the open are treated as Market OnOpen orders for volume tracking purposes.

Additional execution venue charges—such as exchange, ECN, or specialist fees—may apply.

Maximum commission per trade: $8.30

Commission is capped at 0.5% of trade value

Each partial execution is considered a separate trade.

Commission-capped trades do not count toward volume tier eligibility. If the calculated cap is lower than the minimum commission, the cap is applied. Example: Buying 10 shares of a $0.20 stock would result in a $0.02 commission (10 shares × 1% × $0.20).

Trades that remove liquidity from order books may incur liquidity removal fees. For more information, refer to the Tiered pricing section for your trading region.

This applies to trades involving TSX-denominated instruments in USD.

Venue-specific fee differences may exist based on exchange participation in external regulatory or operational fee structures. Some venues may absorb or offset certain costs while others may apply full charges. These structures are subject to change based on future revisions by participating exchanges.

Fractional share trades follow the same commission rules as full-share trades. A minimum charge of $0.01 applies. The greater of $0.01 or 1% of the trade value will be charged for each fractional trade.

Examples:

• Buying 50% of a $10 stock = $0.05 commission
• Buying 5% of a $15 stock = $0.01 commission

Commissions apply to all order types. Tiered commissions are capped at 0.5% of the total trade value.

Using GM SmartRouting™ may result in routing to venues offering superior pricing but higher associated fees, particularly for lower-priced instruments. Traders should review ECN or liquidity removal charges when placing marketable orders in low-priced securities.

Under the Tiered pricing structure (commission plus venue costs and/or rebates), clients may not receive direct credit for any rebates GM receives. For instance, GM may qualify for enhanced rebates from exchanges due to trading volume but may not pass these benefits directly to clients. Additionally, rebates earned from trades in OTC or pink sheet securities are typically retained by GM. Discounts received from clearing or exchange partners may also not be passed through.

Directed API orders are not eligible for Tiered Pricing. SmartRouted API orders may use either Tiered or Fixed pricing models.

Applicable value-added taxes (VAT), including consumption tax or goods and services tax (GST), will be added as required. In certain jurisdictions—such as Singapore—these taxes may apply even to services delivered outside of the taxing region. GM does not provide tax advice; clients should consult their own tax advisors for guidance.

Any modification to an order is treated as a cancellation and replacement, and may be subject to commission minimums applicable to each new execution. For example, an initial execution of 100 shares, followed by a modified order that executes another 100 shares, may be billed separately. Orders carried over to the next trading day are considered new for commission purposes.

Any rebates received by GM for executing trades in OTC or pink sheet instruments are not passed on to clients.

Giga-Markets reserves the right to modify its rates and fee schedules at any time. Commissions may vary based on individual arrangements or account programs. Published pricing applies to clients who engage directly with GM. Clients introduced through advisors or intermediaries may be charged additional fees set by those parties. Clients should check with their introducing broker or advisor for the rates that apply to their account.

While lower costs can improve investment efficiency, they do not guarantee profitability or eliminate risk.