Webull Fee Calculator

Calculate Webull's Regulatory Trading Fees

While Webull famously offers $0 commission trades, small regulatory fees are required on all stock sales.

This Webull Fee Calculator precisely determines the total cost of these pass-through fees from the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) for your sell orders.

By entering your trade details, you can see the exact fee breakdown and understand the minimal, but mandatory, costs associated with selling securities on any U.S. brokerage platform.

Demystifying 'Commission-Free' Trading

The rise of "commission-free" trading platforms like Webull has made investing more accessible than ever.

However, it's important for investors to understand that "commission-free" does not mean entirely "cost-free." Brokerages are still required by law to act as collection agents for regulatory bodies.

The fees calculated here are not kept by Webull; they are remitted directly to the SEC and FINRA to fund their oversight and regulatory activities that protect investors and ensure market integrity.

How Regulatory Fees Are Calculated

The total fee on a sell order is the sum of two separate, small fees.

Both have unique calculation methods set by their respective regulatory agencies.

1. SEC Fee: A fee based on the total dollar value of the transaction.

   SEC Fee = Total Trade Amount x ($27.80 / $1,000,000)
   

   The minimum SEC fee is $0.01 per trade.
2. FINRA Trading Activity Fee (TAF): A fee based on the number of shares sold.

   FINRA TAF = Number of Shares x $0.000166 (max $8.30 per trade)
   

Note that the SEC and FINRA can adjust these rates, so it's always good to check the current figures for any given year (the rates used here are current as of 2026).

Example Calculation of Fees on a $10,000 Sale

Let's calculate the regulatory fees for an investor selling $10,000 worth of stock at $100 per share (100 shares).

1. Calculate the SEC Fee: SEC Fee = $10,000 x ($27.80 / $1,000,000) = $10,000 x 0.0000278 = $0.2780
2. Calculate the FINRA TAF: FINRA TAF = 100 shares x $0.000166 / share = $0.0166
3. Calculate Total Fees: Total Fees = $0.2780 + $0.0166 = $0.2946
4. Calculate Net Proceeds: Net Proceeds = $10,000 - $0.2946 = $9,999.71
5. Fee as Percentage of Trade: Fee % = ($0.2946 / $10,000) x 100 = 0.002946%

The total regulatory fees on this $10,000 sell order are just $0.29 -- a negligible cost relative to the trade value.

A Brief History of SEC and FINRA Fees

These regulatory fees have been a part of the U.S. securities market for decades.

The SEC fee, established under Section 31 of the Securities Exchange Act of 1934, is intended to recover the costs incurred by the government for supervising and regulating the securities markets.

The rate is set periodically by the SEC based on the agency's budget and projections for the dollar volume of securities to be sold on exchanges.

Similarly, FINRA, a self-regulatory organization, introduced its Trading Activity Fee to fund its oversight of broker-dealers, including enforcing rules and protecting investors.

These fees ensure that the industry itself, rather than taxpayers, funds its own regulation.

The 'De Minimis' Fee Threshold

For very small trades, the regulatory fees can be so low that they fall below the clearing system's minimum billing amount.

The calculator enforces a minimum SEC fee of $0.01 per sell trade.

The FINRA TAF, however, has no minimum and is calculated precisely based on share count.

For a sale of just a few dollars or a handful of shares, the total regulatory fee may be only a fraction of a cent.

However, for any trade of a meaningful size, you can expect to pay at least a few cents in these mandatory pass-through charges.