What is regulatory fees?Regulatory Fees

Small fees collected for regulators when you sell US stocks, such as the SEC fee and the FINRA Trading Activity Fee. They're usually just a few cents, and the rates are adjusted regularly.

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US Stock Rules
The Costs Behind Zero Commission, and Dividend Withholding Tax
Zero commission isn't zero cost: there's still the bid-ask spread and small regulatory fees on sales; dividends to non-US residents are withheld at 30% by default, reduced under a tax treaty once you file a W-8BEN.

Related terms

spread
commission
minimum commission
payment for order flow
withholding tax
Form W-8BEN

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