E*Trade Commission Fee of 5 cents after selling SPY ETF

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saver1
Posts: 48
Joined: Wed Oct 12, 2016 8:33 pm

E*Trade Commission Fee of 5 cents after selling SPY ETF

Post by saver1 » Mon Jun 29, 2020 9:50 pm

Just wanted to see if anyone knows the answer to this. On Friday I purchased SPY (S&P 500 ETF), which is commission free on E*Trade. Today I sold it for a small profit, but noticed that E*Trade charged me a commission fee of 5 cents.

Does anyone know what this is?

Thanks

wootwoot
Posts: 531
Joined: Tue Jan 27, 2009 7:37 pm

Re: E*Trade Commission Fee of 5 cents after selling SPY ETF

Post by wootwoot » Mon Jun 29, 2020 9:59 pm

Did you ask E-Trade?

acanthurus
Posts: 396
Joined: Sun Aug 04, 2013 8:02 am

Re: E*Trade Commission Fee of 5 cents after selling SPY ETF

Post by acanthurus » Mon Jun 29, 2020 10:00 pm

Sounds like the SEC fee. Every broker charges this, it's not a commission.

123
Posts: 5991
Joined: Fri Oct 12, 2012 3:55 pm

Re: E*Trade Commission Fee of 5 cents after selling SPY ETF

Post by 123 » Mon Jun 29, 2020 10:02 pm

Perhaps its a FINRA or SEC fee as discussed on the Etrade website.https://us.etrade.com/what-we-offer/pricing-and-rates
The closest helping hand is at the end of your own arm.

Alan S.
Posts: 9693
Joined: Mon May 16, 2011 6:07 pm
Location: Prescott, AZ

Re: E*Trade Commission Fee of 5 cents after selling SPY ETF

Post by Alan S. » Mon Jun 29, 2020 10:08 pm

Perhaps it's the SEC fee: https://www.sec.gov/news/press-release/ ... %20dollars.

$20.70 per $1mm - check out the math if the fee is not clearly labeled.

Topic Author
saver1
Posts: 48
Joined: Wed Oct 12, 2016 8:33 pm

Re: E*Trade Commission Fee of 5 cents after selling SPY ETF

Post by saver1 » Tue Jun 30, 2020 1:34 am

Thanks for the info. This makes sense now.

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