Regulatory fees are charged by the US Securities & Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) on all sell orders. Alpaca Securities LLC does not benefit financially from these charges, and they are passed on to the relevant regulatory agencies in full.

  • SEC: $8.00 per $1,000,000 of principal (sells only) - this fee is rounded up to the nearest penny.
  • FINRA Trading Activity Fee (TAF): $0.000166 per share (sells only) - this fee is rounded up to the nearest penny and no greater than $8.30.

Do I have to pay for them separately?

No. You are not responsible for paying regulatory fees separately, as they are deducted from sales proceeds.
For a full list of brokerage fees, please see Alpaca Securities Brokerage Fee Schedule listed here.