US - Thndr Order Fees
A complete breakdown of trading fees for the US market — who charges them and how they're calculated.
Overview
When you place an order on Thndr for the US market, fees come from two sources: Thndr's brokerage fee, and third-party fees set by US regulatory bodies and market infrastructure. This article explains exactly what you're charged and why.
Note: Third-party fees are set by regulators and are subject to change without prior notice.
US market fees
Activities in the US market are conducted through Thndr Financial Ltd, licensed by the FSRA of ADGM (license #240002). US trades are executed through Alpaca, Thndr's brokerage partner for the US market.
Thndr brokerage fees
Fee | Amount | Basis |
Fixed order fee | $0.20 | Per order |
Variable order fee | 0.1% of order value | Per order |
Per share fee | $0.0015 | Per share traded |
Third-party fees (Sec/Finra) | $0.000199 | Per share traded |
Example: You place a buy order worth $2,000 for 100 shares.
Fixed fee: $0.20
Variable fee: $2.00 (0.1% × $2,000)
Per share fee: $0.15 ($0.0015 × 100 shares)
Total brokerage: $2.35
Third-party fees
Fee | Amount | Basis | Applies to |
Third-party regulatory fee | $0.000199 per share | Per share traded | All orders |
SEC fee | $5.10 per $1,000,000 of sale value | Per sell order | Sell orders only |
TAF (Trading Activity Fee) | $0.000119 per share (max $5.95/trade) | Per share sold | Sell orders only |
Note: The SEC fee and TAF apply to sell orders only. Third-party fees are subject to change without prior notice.
FAQs
Are fees charged on both buy and sell orders?
Thndr's brokerage fees and the general third-party regulatory fee apply to both buy and sell orders. The SEC fee and Trading Activity Fee (TAF) apply to sell orders only.
Which entity handles my US trades?
US trades are conducted through Thndr Financial Ltd (FSRA of ADGM, license #240002), with trades routed through Alpaca (FINRA #288202, SEC #8-69928) as the executing broker.
Why are some fees only charged on sell orders?
The SEC fee and TAF are regulatory fees specific to sell-side transactions in the US market. They are mandated by US securities law and collected by US regulatory bodies on every sale.