Q - What are the regulatory fees for and do I have to pay for them separately?
Regulatory fees are charged by the US Securities & Exchange Commission (SEC) and 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. You are not responsible for paying the fees separately, as they are deducted from sales proceeds.
SEC: $13.00 per $1,000,000 of principal (sells only) - this fee is rounded up to the nearest penny.
FINRA Trading Activity Fee (TAF): $.000119 per share (sells only) - this fee is rounded up to the nearest penny and no greater than $5.95.