Trading Fees Comparison Calculator

Broker trading fees can dramatically erode returns — especially for active traders. A comprehensive comparison requires accounting for commissions, spreads, exchange fees, and financing costs (for margin accounts).

Total trading cost per round-trip (buy + sell): Total Cost = (Commission Buy + Commission Sell) + (Spread Cost × Trade Size) + Exchange Fees + Regulatory Fees

Commission cost:

• Flat fee brokers (e.g. Interactive Brokers tiered): $0.005/share, min $1.00 per order
• Commission-free brokers (e.g. Robinhood, Webull, Schwab): $0 commission on US stocks/ETFs
• Futures: $0.25–$2.25 per contract per side (e.g. NQ Micro = $0.25/side at some brokers)
• Options: $0 to $0.65 per contract; $0.65/contract is common at TD Ameritrade, E*Trade

Spread cost (especially significant for forex and CFDs): Spread Cost = Spread (pips or %) × Lot Size

Forex example: EUR/USD spread = 1.2 pips = $12 per standard lot (100,000 units).

Regulatory fees (US markets):

• SEC fee: $8.00 per $1,000,000 sold (negligible for small trades)
• FINRA TAF: $0.000166 per share sold, max $8.30 per order
• Exchange fees: Vary; typically $0.001–$0.003 per share (often rebated for limit orders adding liquidity)

Financing / margin interest: Daily Margin Interest = (Margin Balance × Annual Rate) ÷ 365

Typical margin rates: 5–12% annually at most brokers; Interactive Brokers ~6.8% for balances under $100K (2024 rates).

Break-even gain calculation: Break-Even Move (%) = Total Round-Trip Cost ÷ Trade Value × 100

Worked example — stock trade comparison: Buy 100 shares of a $50 stock ($5,000 position), then sell.

For a day trader making 5 round-trips/day: commission-free saves $250+/month vs. $5-per-trade brokers — $3,000/year in savings on costs alone.