Sections


Commission Rates

Applies to all account types

Stocks & ETFs: $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

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

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


Fee Summary for Stocks & ETFs

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

  • Clearing Fee: $0.0008/share
  • For example, if you bought 1,000 shares, the clearing fee would be $0.80 (0.0008 x 1,000).


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: $0.00002210 x number of shares x trade price


For example, if you sold 1,000 shares of stock for $55/share:

  • Clearing Fee: $0.80 ($0.0008 x 1,000)
  • FINRA TAF: $0.12 ($0.000119 x 1,000)
  • SEC Fee: $1.22 ($0.00002210 x 1,000 x $55)


Stock & ETF Transactions

Stock/ETF Round Trip Example (Including Commissions and Fees)

A round trip of 1,000 shares of stock at $55 would have a total cost of $2.86 ($0.80 to open and $2.06 to close), based on the following breakdown:


Cost to Open

  • Commission: $0.00
  • Clearing Fee: $0.80
  • Total Cost: $0.80

Cost to Close

  • Commission: $0
  • Clearing Fee: $0.80
  • FINRA TAF: $0.12
  • SEC Fee: $1.22
  • Total Cost: $2.14


Fee Summary for Equity/ETF Options

Option Buys Fees

  • Clearing Fee: $0.10/contract
  • ORF Fee: $0.0357/contract

For example, if you bought 3 contracts for $5/contract:

  • Clearing Fee: $0.30 ($0.10 x 3)
  • ORF Fee: $0.11 ($0.0357 x 3)


Option Sells Fees

  • Clearing Fee: $0.10/contract
  • FINRA TAF: $0.002/contract
  • SEC Fee*: $0.00002210 x number of contracts x 100 x trade price
  • ORF Fee: $0.0357/contract

*The option multiplier is typically 100.  If the option contract has a different multiplier, you would use that instead of 100.


For example, if you sold 3 contracts for $5/contract:

  • Clearing Fee: $0.30 ($0.10 x 3)
  • FINRA TAF: $0.01 ($0.002 x 3)
  • SEC Fee: $0.03 ($0.00002210 x 3 x 100 x $5)
  • ORF Fee: $0.11 ($0.0357 x 3)


Options Transactions

Option Round Trip Example (Including Commissions and Fees)

A round trip of 3 options contracts would have a total cost of $3.8 ($3.41 to open and $0.45 to close), based on the following breakdown:


Cost to Open

  • Commission: $3.00
  • Clearing Fee: $0.30
  • ORF Fee: $0.11
  • Total Cost: $3.41

Cost to Close

  • Commission: $0
  • Clearing Fee: $0.30
  • FINRA TAF: $0.01
  • SEC Fee: $0.03
  • ORF Fee: $0.11
  • Total Cost: $0.45


*When trading SPX, NDX, VIX, and etc. then a Single-Listed Exchange Proprietary Index Options Fees will apply on a per-contract basis when Opening or Closing a position. Click here to view our commissions and fees page.


Example of Capped Options Commissions

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 trading a 10-lot vertical or any quantity over 10, such as a 100-lot vertical, because of the cap. Clearing ($0.10/contract) and regulatory fees (total will vary) still apply in both directions. 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 an 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, and etc.). Fees will apply on a per-contract basis when Opening or Closing a position.  


Single Leg Options Trade to Open:

  • 10-lot: $10 commission + $1 clearing + regulatory fees
  • 100-lot: $10 commission + $10 clearing + regulatory fees

Single Leg Options Trade to Close:

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


Vertical (2-legs) Options Trade to Open:

  • 10-lot: $20 commission + $2 clearing + regulatory fees
  • 100-lot: $20 commission + $20 clearing + regulatory fees

Vertical Options Trade to Close:

  • 10-lot: $0 commission + $2 clearing + regulatory fees
  • 100-lot: $0 commission + $20 clearing + regulatory fees


Butterfly (3-legs) Options Trade to Open:

  • 10-lot: $30 commission + $3 clearing + regulatory fees
  • 100-lot: $30 commission + $30 clearing + regulatory fees

Butterfly Options Trade to Close:

  • 10-lot: $0 commission + $3 clearing + regulatory fees
  • 100-lot: $0 commission + $30 clearing + regulatory fees


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

  • 10-lot: $40 commission + $4 clearing + regulatory fees
  • 100-lot: $40 commission + $40 clearing + regulatory fees

Iron Condor Options Trade to Close:

  • 10-lot: $0 commission + $4 clearing + regulatory fees
  • 100-lot: $0 commission + $40 clearing + regulatory fees


Small Exchange Products

Cost to Open a Small Exchange Contract

  • $0.25 per smalls contract to open
  • Small Exchange Fee
    • Subscriber: $0.07 per smalls contract
    • Non-subscriber: $0.15 per smalls contract
  • National Futures Association Fee: $0.02 per contract
  • Futures Commission Merchant (FCM) Clearing Fee: $0.05
  • Options Clearing Corp. (OCC) Clearing Fee: $0.055

Cost to Close a Small Exchange Contract

  • $0.25 per smalls contract to close
  • Small Exchange Fee
    • Subscriber: $0.07 per smalls contract
    • Non-subscriber: $0.15 per smalls contract
  • National Futures Association Fee: $0.02 per contract
  • Futures Commission Merchant (FCM) Clearing Fee: $0.05
  • Options Clearing Corp. (OCC) Clearing Fee: $0.055

Example of Total Trading Cost (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: $0.055

Total to open: $0.445 per contract

  • Commission: $0.25
  • Exchange Fee: $0.15
  • NFA Fee: $0.02
  • FCM Clearing Fee: $0.05
  • OCC Clearing Fee: $0.055

Total to open: $0.525 per contract

To Close
  • Commission: $0.25
  • Exchange Fee: $0.07
  • NFA Fee: $0.02
  • FCM Clearing Fee: $0.05
  • OCC Clearing Fee: $0.055

Total to close: $0.445 per contract

  • Commission: $0.25
  • Exchange Fee: $0.15
  • NFA Fee: $0.02
  • FCM Clearing Fee: $0.05
  • OCC Clearing Fee: $0.055

Total to close: $0.525 per contract

Round-Trip Cost$0.89 per contract$1.05 per contract


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


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.


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

  • Commission: $0.85/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
  • NFA Fee: $0.02/contract
  • Exchange fees: varies per contract


Cost to Close an Options on Futures

  • Commission: $0

  • Clearing Fee: $0.30/contract
  • NFA Fee: $0.02/contract
  • Exchange fees: varies per contract

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


Fee Definitions

Clearing Fee

This passthrough fee covers additional expenses related to clearing trades at our clearing firm Apex Clearing Corp., our futures commissions merchant FC Stone, and exchange clearing for The Smalls 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 $0.119.  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.


Regulatory (Reg) Fee

Combines the exchange fee as well as the National Futures Association (NFA) fee of $0.01.


SEC Regulatory Fee

When you sell a stock or stock 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.