All broker-dealers are required to disclose their policies with respect to payment for order flow practices. Under the SEC's broad definition, payment for order flow may include all forms of arrangements compensating broker-dealers for directing order flow, including monetary payment, reciprocal agreements, services, property, or any other benefit that results in remuneration, compensation, or consideration to a broker-dealer in return for routing of customer orders as well as exchange rebates and credits.

In certain cases, SageTrader participates in programs which result in our receipt of remuneration, compensation or other consideration for having our customers place orders with other broker-dealers, exchanges, and market centers for execution. SageTrader may also participate in programs which result in other broker-dealers' receipt of remuneration, compensation, or other consideration for our customers placing orders with these executing brokers for execution. Additional information regarding the source and nature of the compensation will be furnished upon written request to your customer service representative. Although payment for order flow is an accepted practice, SageTrader is committed at all times to achieving the best execution for its clients.