TD Ameritrade Fee Calculator

Enter your trade amount, shares, asset type, and order side to calculate total fees including regulatory charges and commissions.
Luis GonzalezCreated by Luis GonzalezLast updated:

How to Use This Calculator

  1. 1

    Enter Trade Amount

    Input the total dollar value of your trade. For a sell, this is the proceeds; for a buy, it's the cost.

  2. 2

    Specify Number of Shares / Contracts

    Enter the quantity of shares for stocks/ETFs or contracts for options. This is crucial for FINRA TAF calculations.

  3. 3

    Select Asset Type

    Choose whether you are trading Stock, ETF, Options, Bond, or Mutual Fund (Non-NTF).

  4. 4

    Choose Order Side

    Indicate if your order is a Buy or a Sell, as some fees apply only to sell orders (e.g., SEC Section 31).

  5. 5

    Review Total Fees

    The calculator will display your total fees, broken down by type, and the effective fee as a percentage of your trade.

Example Calculation

An investor is selling 100 shares of a stock for a total trade amount of $10,000 via TD Ameritrade (now Schwab).

Trade Amount ($)

10,000

Number of Shares / Contracts

100

Asset Type (select)

stock

Order Side (select)

sell

Results

$0.00

Tips

Understand Zero-Commission Doesn't Mean Zero Fees

While many brokers, including Schwab (TD Ameritrade's parent company), offer $0 commission for online stock and ETF trades, this doesn't mean your trade is entirely free. Small regulatory fees like SEC Section 31 and FINRA TAF still apply, primarily to sell orders, though they are usually negligible for retail investors.

Options Trading Has Contract Fees

Options trades typically incur a per-contract fee, even with zero-commission stock/ETF trading. For example, Schwab charges $0.65 per options contract. Factor this into your options trading strategy, as these fees can add up quickly for frequent traders or large contract volumes.

Mutual Funds May Have Transaction Fees

While many mutual funds are 'No-Transaction-Fee' (NTF) at Schwab, some non-NTF funds may still carry transaction fees. Always check the fund's prospectus and the broker's fee schedule before investing in mutual funds to avoid unexpected charges.

Calculating Trading Fees with the TD Ameritrade (Schwab) Fee Calculator

The TD Ameritrade Fee Calculator, now reflecting Charles Schwab's fee structure after the acquisition, helps investors understand the true cost of their trades, beyond just commissions.

While many platforms advertise $0 commissions, underlying regulatory fees, options contract fees, and mutual fund transaction fees can still apply.

This tool clarifies the SEC Section 31, FINRA TAF, and other charges for various asset types and order sides, providing a transparent view of your total trading expenses in 2025.

Why Understanding Trading Fees is Crucial

Understanding trading fees is crucial for investors because even seemingly small charges can erode returns over time, especially for frequent traders or large portfolios.

While headline "zero-commission" trading has become standard for stocks and ETFs, regulatory fees, options contract fees, and other charges still exist.

Neglecting these can lead to an inaccurate assessment of investment performance and unexpected costs.

For instance, a small 0.002% SEC fee on a $100,000 stock sale might seem negligible at $2, but these add up.

Being aware of all fees allows investors to make informed decisions, optimize their trading strategy, and accurately calculate their net profits and losses.

How Schwab Calculates Trading-Related Fees

While Charles Schwab (the parent company of TD Ameritrade) largely offers $0 commissions for online U.S. stock and ETF trades, specific regulatory and product-specific fees still apply.

The calculator determines total fees based on:

  1. SEC Section 31 Fee: Applied only to sell orders of stocks and ETFs. Rate is very small (e.g., $8.00 per $1 million of principal, subject to change by the SEC in 2025).
    SEC Fee = Trade Amount × SEC Rate
  2. FINRA Trading Activity Fee (TAF): Applied only to sell orders of stocks, ETFs, and options.
    • For stocks/ETFs: FINRA TAF = Number of Shares × FINRA TAF Rate (e.g., $0.000166 per share, max $5.50)
    • For options: FINRA TAF = Number of Contracts × FINRA TAF Rate (e.g., $0.00279 per contract)
  3. Options Contract Fee: Applied to both buy and sell options orders (e.g., $0.65 per contract at Schwab).
    Options Fee = Number of Contracts × Per-Contract Rate
  4. Mutual Fund Transaction Fee: Applies to non-NTF (No-Transaction-Fee) mutual funds (e.g., $49.95 per trade).

The Total Fees is the sum of all applicable charges based on asset type and order side.

💡 Understanding trading fees is key to maximizing your returns. For creators, calculating earnings on platforms like Podia is similar. Our Podia Fee Calculator helps you see your net payout.

Analyzing a Stock Sell Order Fee

Let's examine a scenario where an investor is selling 100 shares of a stock for a total trade amount of $10,000 using TD Ameritrade (now Schwab).

  1. Identify Trade Details:
    • Trade Amount: $10,000
    • Number of Shares: 100
    • Asset Type: Stock
    • Order Side: Sell
  2. Calculate SEC Section 31 Fee: Assuming a 2025 SEC fee rate of $8.00 per $1,000,000 of principal (or 0.000008): SEC Fee = $10,000 × 0.000008 = $0.08
  3. Calculate FINRA TAF: Assuming a 2025 FINRA TAF rate of $0.000166 per share: FINRA TAF = 100 shares × $0.000166/share = $0.0166 (rounded to $0.02)
  4. Total Fees: Total Fees = $0.08 (SEC) + $0.02 (FINRA TAF) = $0.10

For this $10,000 stock sell order, the total fees are a minimal $0.10, demonstrating that while commissions are $0, small regulatory charges still apply.

💡 Just like trading platforms, other online platforms have their own fee structures. Use our Poshmark Fee Calculator to understand the fees involved in selling on that marketplace.

Regulatory or Standards Context for Brokerage Fees

Brokerage fees, particularly regulatory fees like the SEC Section 31 fee and FINRA TAF, are mandated by specific governmental and self-regulatory bodies.

The SEC Section 31 fee is levied by the U.S. Securities and Exchange Commission under Section 31 of the Securities Exchange Act of 1934.

Its purpose is to recover the costs incurred by the government for supervising and regulating the securities markets and professionals.

The fee rate is adjusted periodically by the SEC, often in the fall, based on market activity and projected costs, with the latest rate for 2025 typically around $8.00 per $1 million of principal for covered sales.

The FINRA Trading Activity Fee (TAF) is imposed by FINRA, the Financial Industry Regulatory Authority, which is a non-governmental organization but operates under SEC oversight.

FINRA uses TAF revenue to fund its regulatory activities, including examinations, surveillance, and investor protection programs.

These fees are standardized across all brokerage firms subject to U.S. regulations, ensuring a consistent application of charges that contribute to market integrity and oversight.

Frequently Asked Questions

What are SEC Section 31 fees?

SEC Section 31 fees are regulatory fees charged by the Securities and Exchange Commission (SEC) on sell-side transactions. These fees are designed to recover the costs of government supervision and regulation of the securities markets. They are typically very small, calculated as a fraction of the dollar value of the securities sold, and only apply to sell orders.

What is FINRA TAF?

FINRA TAF stands for the Financial Industry Regulatory Authority (FINRA) Trading Activity Fee. This is a regulatory fee assessed by FINRA on sales of exchange-listed securities. It's also very small and calculated per share for stocks (with a cap) or per contract for options, primarily designed to fund FINRA's regulatory oversight of broker-dealers.

Are TD Ameritrade (now Schwab) commissions truly $0?

For online trades of U.S. exchange-listed stocks, ETFs, and options (excluding per-contract fees), TD Ameritrade (now Charles Schwab) indeed offers $0 commission. However, this does not eliminate all costs. Regulatory fees (SEC Section 31, FINRA TAF) still apply to sell orders, and options trades incur a per-contract fee. Certain mutual funds and broker-assisted trades also have charges.