How to Use This Calculator
- 1
Enter Total Sale Amount
Input the total dollar value of the shares you plan to sell. The SEC fee is calculated based on this amount.
- 2
Enter Number of Shares Sold
Enter the total quantity of shares in your sell order. The FINRA TAF is calculated per share.
- 3
Enter Share Price (Optional)
Provide the price per share at the time of sale. This is for reference; the total sale amount drives the SEC fee calculation.
- 4
Review Your Regulatory Fees
The calculator displays Total Regulatory Fees, SEC Fee, FINRA TAF, Net Sale Proceeds, and Commission ($0). The insights panel shows fee impact, FINRA cap status, and an annual fee estimate, plus a breakdown bar showing SEC vs FINRA fee composition.
Example Calculation
An investor is selling $10,000 worth of shares (200 shares at $50 each) on Robinhood and wants to understand the exact regulatory fees.
Total Sale Amount ($)
10,000
Number of Shares Sold
200
Share Price ($)
50
Results
Total Regulatory Fees
$0.3112
SEC Fee
$0.2780
FINRA TAF
$0.0332
Net Sale Proceeds
$9,999.69
Commission
$0.00
Tips
Understand the 'Commission-Free' Model
While Robinhood charges $0 commission, SEC and FINRA regulatory fees are mandated by law on all sell orders at all brokers. On a $10,000 sale, total fees are just $0.31 — negligible but worth knowing about.
Large Trades Hit the FINRA Cap
The FINRA TAF caps at $8.30 per trade. Above ~50,000 shares, you pay $8.30 regardless of how many more shares you sell. The insights panel shows whether your trade hit this cap and how much you saved.
Fees are Deducted Automatically
These regulatory fees are automatically deducted from your sale proceeds. The Net Sale Proceeds shown is the actual amount credited to your account. For a $10,000 sale, you receive $9,999.69 after fees.
Understanding Robinhood Regulatory Fees on Stock Sales in 2026
While Robinhood pioneered commission-free stock trading, investors still incur minimal regulatory fees on sell orders, mandated by federal law. The Robinhood Fee Calculator helps you determine the exact SEC Section 31 Fee and FINRA Trading Activity Fee (TAF) on any sell order. For a typical $10,000 sale of 200 shares, total regulatory fees are just $0.3112 — a fraction of a cent per dollar traded.
The insights panel breaks down fee impact, FINRA cap status, and estimated annual costs, giving you full transparency on the true cost of trading on commission-free platforms.
The Formulas for SEC and FINRA Regulatory Fees
The calculator applies two distinct formulas to determine regulatory fees:
SEC Fee = total_sale_amount x (27.80 / 1,000,000)
= total_sale_amount x 0.00002780
Raw FINRA TAF = number_of_shares x 0.000166
FINRA TAF = min(raw_finra_taf, 8.30)
Total Fees = SEC Fee + FINRA TAF
Net Proceeds = total_sale_amount - Total Fees
Fee % = (Total Fees / total_sale_amount) x 100
The SEC fee scales with dollar value of the sale. The FINRA TAF scales with share count but caps at $8.30 per trade, making it fixed for large-volume trades. These rates are subject to periodic adjustment by the respective regulatory bodies.
Calculating Fees for a $10,000 Robinhood Stock Sale
An investor is selling 200 shares at $50 per share, totaling a $10,000 sale on Robinhood.
- SEC Fee: $10,000 x 0.00002780 = $0.2780
- FINRA TAF: 200 shares x $0.000166/share = $0.0332 (below $8.30 cap)
- Total Regulatory Fees: $0.2780 + $0.0332 = $0.3112
- Net Sale Proceeds: $10,000 - $0.3112 = $9,999.69 (rounded)
- Fees as % of Trade: 0.3112 / 10,000 x 100 = 0.003112%
- Commission: $0.00 (Robinhood charges no commission)
Total fees of $0.3112 on a $10,000 sale represent just 0.003% of the trade value — effectively negligible. Even making 50 similar trades per year, annual regulatory fees would total only $15.56.
Why Regulatory Fees Exist on Commission-Free Platforms
The SEC Section 31 Fee funds the Securities and Exchange Commission's oversight of securities markets. The FINRA Trading Activity Fee supports FINRA's self-regulatory functions, including broker-dealer supervision and investor protection. These fees are mandated by law and apply to all brokers — "commission-free" refers only to the broker's own trading commission, not these regulatory pass-through fees.
For context, the SEC fee on a $10,000 sale ($0.28) is roughly equivalent to the cost of a paper clip. The FINRA TAF on 200 shares ($0.03) is even less. These micro-fees ensure market integrity while having virtually zero impact on investor returns.
Fee Scaling: How Fees Change With Trade Size
For small retail trades ($1,000-$50,000), total fees range from $0.03 to $1.56 — always under $2. For larger trades, the SEC fee scales linearly ($2.78 on a $100,000 sale), but the FINRA TAF caps at $8.30 once you exceed approximately 50,000 shares. This cap means that a 100,000-share trade pays the same $8.30 FINRA fee as a 50,000-share trade.
The practical takeaway: regulatory fees are so small that they should never influence trading decisions. Whether you sell $1,000 or $100,000 worth of stock on Robinhood, the total regulatory fees will be between $0.03 and $11.08 — a rounding error relative to the trade value.
Frequently Asked Questions
What are the main regulatory fees on stock sales?
The two main regulatory fees are the SEC Section 31 Fee ($27.80 per $1,000,000 of principal sold) and the FINRA Trading Activity Fee ($0.000166 per share, capped at $8.30 per trade). Both apply to all sell orders at all U.S. brokers, including commission-free platforms like Robinhood.
How is the SEC fee calculated on a stock sale?
The SEC fee is calculated on the total dollar value of the sale. At the current rate of $27.80 per $1,000,000 (0.00002780 of the sale amount), a $10,000 sale incurs $10,000 x 0.00002780 = $0.2780 in SEC fees. This rate is adjusted periodically by the SEC.
How is the FINRA TAF calculated, and is there a cap?
The FINRA TAF is $0.000166 per share sold, with a maximum cap of $8.30 per trade. For 200 shares: 200 x $0.000166 = $0.0332. The cap activates at approximately 50,000 shares (8.30 / 0.000166 = ~50,000), so large-volume trades are effectively capped.
Why do commission-free brokers still charge fees?
These are not broker fees — they are mandatory regulatory levies imposed by the SEC and FINRA on all securities sales to fund market oversight. Brokers like Robinhood eliminated their own commissions but are legally required to pass through these small regulatory fees. On a typical $10,000 trade, total fees are about $0.31.
What does the insights panel show about my trade fees?
The insights panel shows three key metrics: fee impact (what percentage of your trade value goes to fees), FINRA cap status (whether you hit the $8.30 cap and how much you saved), and an annual fee estimate (projected total fees if you made 50 similar trades per year). The breakdown bar visualizes the SEC vs FINRA fee split.
How much would I pay in fees on a $100,000 sale of 1,000 shares?
SEC fee: $100,000 x 0.00002780 = $2.78. FINRA TAF: 1,000 x $0.000166 = $0.166. Total: $2.946, or about 0.003% of the trade. Even on large trades, regulatory fees remain negligible.