Regulatory Fees

FEE types and effective rates

The following FEEs are applied to options trades.

The following FEEs are applied to equities.

For our current effective rates, please refer to our brokerage fee schedule available here: https://alpaca.markets/disclosures

How Fees are charged and reflected in account balances

1. Alpaca's trading system keeps track of the accrued FEE amounts intraday and deducts the pending amounts from account balances.
2. At EOD, we charge each account the fees for that trading day
3. We round up total fees based on the currency’s precision to the nearest decimal place. For example, USD has a precision of 0.01. If the total fee is calculated as 0.00083, it will be rounded up to 0.01 (i.e., 1 penny).

Additional resources

• https://www.finra.org/rules-guidance/rulebooks/industry/trading-activity-fee
• https://www.catnmsplan.com/
• https://www.sec.gov/newsroom/press-releases/2024-47