The SEC and FINRA TAF (Trading Activity Fee) are regulatory fees charged on the sale of any security. Whereas, FINRA CAT (Consolidated Audit Trail) is a regulatory fee charged on the purchase or sale of any security. All your trades are fully backed by real shares in the US. When you buy, we also need to purchase stocks backing your trade in the US. Likewise, when you sell, we need to sell stocks backing your trade in the US. The FINRA CAT fee applies on both the buy and sell sides, while the SEC & FINRA TAF fees apply only on the sell side. These are mandatory fees that we must pass on to you. These fees are automatically debited when the purchase of securities or proceeds from the sale of securities are equal to:

Each fee is rounded to the nearest one cent.

For example, if you buy 0.1 share of Apple for $200 per share, the fee is:

FINRA CAT Fee: $0.000035 rounded to $0.01

If you sell 0.1 share of Apple for $200 per share, the fees are:

SEC Fee: $0.00000278 rounded to $0.01

FINRA TAF Fee: $0.0000166 rounded to $0.01

FINRA CAT Fee: $0.0000035 rounded to $0.01