Commissions and Fees

TABLE OF CONTENTS


Commission Rates

The same commission rates apply to all customers

Commissions are charges that tastyworks applies to orders.

Stock & ETF orders

  • Stocks & ETF shares: $0.00 to open
  • Options: $1.00/contract to open, capped at $10 per leg for equity or ETF options.
  • Stocks & Options Closing Commission: $0

Cryptocurrencies

  • To open: 1% of the total purchase, capped at $10 per order ticket.
  • To close: 1% of the total sale, capped at $10 per order ticket.

Smalls & Futures

  • Smalls: $0.25/contract to open, $0.25/contract to close
  • Futures: $1.25/contract to open, $1.25/contract to close
  • Micro Futures: $0.85/contract to open, $0.85/contract to close
  • Options on Futures: $2.50/contract to open, $0 to close
  • Options on Micro Futures: $1.50/contract to open, $0 to close

To visit our Commissions & Fees page, please click here.


Clearing and Regulatory Fee Summary for Equities

Clearing and regulatory fees apply to any stock or ETF shares/options order in addition to any applicable commissions. 


Stocks & ETF Shares

Stock & ETF Buys (Including Call Exercises & Put Assignments)

  • Clearing Fee: $0.0008/share

Stock & ETF Sells (Including Put Exercises & Call Assignments)

  • Clearing Fee: $0.0008/share
  • FINRA TAF: $0.000119/share (per-transaction cap of $5.95)
  • SEC Fee: $0.0000051 x number of shares x trade price


Stock & ETF Options

When trading option spreads, long legs will be subject to the options buy fees, and short legs will be subject to the options sale fees listed below, and conversely when closing an option spread.


Option Buys

  • Clearing Fee: $0.10/contract
  • ORF Fee: $0.02235/contract

Option Sales

  • Clearing Fee: $0.10/contract
  • FINRA TAF: $0.002/contract
  • SEC Fee*: $0.0000051 x number of contracts x 100 x trade price
  • ORF Fee: $0.02235/contract

*The option multiplier is typically 100.


Cryptocurrencies/Digital Currencies

Commissions rates apply to all available cryptocurrencies and apply on a per-order ticket basis. Customers may only hold a net long cryptocurrency position. Net short cryptocurrency positions are not available at this time.


Cost to Open a Cryptocurrency Position

1% of total cryptocurrency purchase, capped at $10

Cost to Close a Cryptocurrency Position

1% of total cryptocurrency sale, capped at $10


Small Exchange Products

Cost to Open a Small Exchange Futures Contract

  • $0.25 per smalls contract to open
  • Small Exchange Fee
    • Subscriber: $0.07 per smalls contract
    • Non-subscriber: $0.15 per smalls contract
  • NFA Fee: $0.02 per contract
  • Futures Commission Merchant (FCM) Clearing Fee: $0.05
  • Options Clearing Corp. (OCC) Clearing Fee: $0.02


Cost to Close a Small Exchange Futures Contract

  • $0.25 per smalls contract to close
  • Small Exchange Fee
    • Subscriber: $0.07 per smalls contract
    • Non-subscriber: $0.15 per smalls contract
  • NFA Fee: $0.02 per contract
  • Futures Commission Merchant (FCM) Clearing Fee: $0.05
  • Options Clearing Corp. (OCC) Clearing Fee: $0.02

To learn more about the available Small Exchange products, please click here.


CME Products

Standard Futures

Cost to Open a Futures Contract

  • Commission: $1.25/contract
  • Clearing Fee: $0.30/contract
  • Exchange Fee: vary by contract and includes a $0.02 NFA fee per contract.

Cost to Close a Futures Contract

  • Commission: $1.25/contract
  • Clearing Fee: $0.30/contract
  • Exchange Fee: vary by contract and includes a $0.02 NFA fee per contract.

To view a table of available futures contracts and Exchange Fees then please click here.


Options on Futures

Cost to Open an Options on Futures

  • Commission: $2.50/contract
  • Clearing Fee: $0.30/contract
  • Exchange Fee: vary by contract and includes a $0.02 NFA fee per contract.

Cost to Close an Options on Futures

  • Commission: $0
  • Clearing Fee: $0.30/contract
  • Exchange Fee: vary by contract and includes a $0.02 NFA fee per contract.

To view a table of available options on futures contracts and exchange fees then please click here.


Micro Futures

Cost to Open a Micro Futures Contract

  • Commission: $0.85/contract
  • Clearing Fee: $0.30/contract
  • Exchange Fee: vary by contract and includes a $0.02 NFA fee per contract.

Cost to Close a Micro Futures Contract

  1. Commission: $0.85/contract
  2. Clearing Fee: $0.30/contract
  3. Exchange Fee: vary by contract and includes a $0.02 NFA fee per contract.

To view a table of available futures contracts and Exchange Fees then please click here.


Options on Micro Futures

Cost to Open an Options on Micro Futures

  • Commission: $1.50/contract
  • Clearing Fee: $0.30/contract
  • Exchange Fee: vary by contract and includes a $0.02 NFA fee per contract.

Cost to Close an Options on Micro Futures

  • Commission: $0
  • Clearing Fee: $0.30/contract
  • Exchange Fee: vary by contract and includes a $0.02 NFA fee per contract.

To view a table of available options on micro futures contracts and Exchange Fees, then please click here.


Example of Commissions and Fees

Stock & ETF Round Trip (Including Commissions and Fees)

A round trip of 1,000 shares of stock closed at $55/share would have a total cost of $2.00 ($0.80 to open and $1.20 to close), based on the following breakdown:


Cost to Open Stock & ETFs

  • Commission: $0.00
  • Clearing Fee: $0.80 ($0.0008 x 1,000)

Total cost to open 1,000 shares of stock: $0.80


Cost to Close Stock & ETFs

  • Commission: $0
  • Clearing Fee: $0.80 ($0.0008 x 1,000)
  • FINRA TAF: $0.12 ($0.000119 x 1,000)
  • SEC Fee: $0.28 ($0.0000051 x 1,000 x $55)

Total cost to close 1,000 shares @ $55: $1.20


Equity/ETF Options (Including Commissions and Fees)

Cost to Open

  • Buy to open 3 XYZ Jan. 15 $50-strike call @ $3.00/contract:
  • Commission: $3 ($1 x 3)
  • Clearing Fee: $0.30 ($0.10 x 3)
  • ORF Fee: $0.06705 ($0.02235/contract x 3)

Total commissions and fees: $3.36705


Cost to Close

Sell to close 3 XYZ Jan. 15 $50-strike call @ $5.00/contract:

  • Commission: $0 
  • Clearing Fee: $0.30 ($0.10 x 3)
  • FINRA TAF: $0.01 ($0.002 x 3)
  • SEC Fee: $0.01 ($0.0000051 x 3 x 100 x $5)
  • ORF Fee: $0.06705 ($0.02235/contract x 3)

Total commissions and fees: $0.387


When trading SPX, NDX, VIX, etc., a Single-Listed Exchange Proprietary Index Options Fees will apply on a per-contract basis when opening or closing a position. To view a complete list of proprietary index fees, please click here.


Small Exchange Products (per one-lot, round-trip)


SubscriberNon-Subscriber
To Open
  • Commission: $0.25
  • Exchange Fee: $0.07
  • NFA Fee: $0.02
  • FCM Clearing Fee: $0.05
  • OCC Clearing Fee: $0.02

Total to open: $0.41 per contract

  • Commission: $0.25
  • Exchange Fee: $0.15
  • NFA Fee: $0.02
  • FCM Clearing Fee: $0.05
  • OCC Clearing Fee: $0.02

Total to open: $0.49 per contract

To Close
  • Commission: $0.25
  • Exchange Fee: $0.07
  • NFA Fee: $0.02
  • FCM Clearing Fee: $0.05
  • OCC Clearing Fee: $0.02

Total to close: $0.41 per contract

  • Commission: $0.25
  • Exchange Fee: $0.15
  • NFA Fee: $0.02
  • FCM Clearing Fee: $0.05
  • OCC Clearing Fee: $0.02

Total to close: $0.49 per contract

Round-Trip Cost$0.82 per contract$0.98 per contract


To learn more about the available Small Exchange products, please click here.


Capped Commissions for Equity/ETF Options

Options commissions are capped at $10/leg to open, and of course, it’s still $0 to close. That means commission costs are the same whether you are trading a 10-lot vertical or any quantity over 10, such as a 100-lot vertical. Clearing and regulatory fees still apply when opening and closing trades. The total regulatory fee amount will vary since the SEC Fee is dependent on the sale price, as spelled out in the “Options Sells” section above. 


Lastly, the $10 capped commission per-leg applies to each order ticket. As a result, if you were partially filled on a working order and replaced the order with a revised price, then the order ticket would be subject to commissions again.


Capped commissions do not apply when trading a Single-Listed Exchange Proprietary Index Options (SPX, NDX, VIX, etc.). Fees will apply on a per-contract basis when Opening or Closing a position. To view examples of the total cost of trading single-listed proprietary products, such as SPX, please click here.


Commissions and Approximated clearing + regulatory fees below:


Single Leg Options Trade to Open

10-lot: $10 commission + $1.32 clearing + regulatory fees

100-lot: $10 commission + $13.22 clearing + regulatory fees

Single Leg Options Trade to Close

10-lot: $0 commission + $1 clearing + regulatory fees

100-lot: $0 commission + $13.22 clearing + regulatory fees


Vertical (2-legs) Options Trade to Open

10-lot: $20 commission + $2.68 clearing + regulatory fees

100-lot: $20 commission + $26.80 clearing + regulatory fees

Vertical Options Trade to Close

10-lot: $0 commission + $2.68 clearing + regulatory fees

100-lot: $0 commission + $26.80 clearing + regulatory fees


Butterfly (3-legs) Options Trade to Open

10-lot: $30 commission + $5.35 clearing + regulatory fees

100-lot: $30 commission + $53.50 clearing + regulatory fees

Butterfly Options Trade to Close

10-lot: $0 commission + $5.35 clearing + regulatory fees

100-lot: $0 commission + $53.50 clearing + regulatory fees


Iron Condor (4-legs) Options Trade to Open:

10-lot: $40 commission + $5.35 clearing + regulatory fees

100-lot: $40 commission + $53.50 clearing + regulatory fees

Iron Condor Options Trade to Close:

10-lot: $0 commission + $5.35 clearing + regulatory fees

100-lot: $0 commission + $53.50 clearing + regulatory fees


Fee Definitions

Clearing Fee

This passthrough fee covers additional expenses related to clearing trades at our clearing firm Apex Clearing, our futures commissions merchant StoneX, and exchange clearing for Small Exchange products at the Options Clearing Corporation.


Exchange ORF (Options Regulatory Fee)

Options exchanges assess an Options Regulatory Fee (referred to as the "ORF Fee") on options transactions executed by its members that clear in the customer range at the Options Clearing Corporation ("OCC") regardless of the marketplace of execution.  The effective rate of the ORF fee is per contract with no minimum per trade.  Fee charges will be rounded to the nearest penny.  Please note, Exchange Fees are subject to change.


FINRA TAF (Trading Activity Fee)

FINRA levies a Trading Activity Fee (TAF) for sales of covered equity securities that tastyworks passes through to you.  The FINRA TAF is currently $0.000119 per share with a per-transaction cap of $5.95.  For example, if you sell 1,000 shares of stock, the fee would be the number of shares [1,000] multiplied by $0.000119, which equals $0.12.  The FINRA TAF for option sales is currently $0.002 per contract.  For example, if you sell 100 options contracts, the fee would be the number of contracts [100] multiplied by $0.002, which equals $0.20.


NFA Fee

National Futures Association assessment fee for futures contracts is $0.02 per side or $0.04 per round-trip.


SEC Regulatory Fee

When you sell stock/ETF shares or stock/ETF options, a regulatory fee is included which appears on your confirmation.  tastyworks is required to pay this regulatory fee to the applicable regulatory agency based on the volume of securities sold.  The current rate for sales of equity securities is $22.10 for every $1,000,000 in sales.  tastyworks reserves the right to pass through any additional regulatory or exchange transaction fees.