Syfe Trade Commission Fees
For Syfe Trade, the commission fees will be reflected under Order History and you may click on the order for which you want to view the fee details.
You can also view the commission fees in the daily Trade Confirmation and Monthly Statements. These can be accessed from your Syfe app and are also sent via email.
Regulatory Fees: SEC & FINRA TAF fees
The regulatory fees will only be reflected in the Monthly Statement. These fees are computed based on the daily consolidated sell trades and automatically debited from the client account at the end of the trading day.
The SEC and FINRA Trading Activity Fee (TAF) are regulatory fees charged only on sell trades.
Breakdown of the regulatory fees
These fees only occur on the sale of a security and are equal to:
- SEC Fee = total price of transaction * USD 22.90 / 1,000,000
- TAF = USD 0.000119 per share for each sale of covered equity security with a maximum of USD 5.95 per trade.
Fees are rounded up to the nearest one cent.
For example, If you sell 1 share of Apple for $150, the fee would be:
SEC fee: USD 150 * USD 22.90 / USD 1,000,000 = USD 0.003435 rounded up to USD 0.01
TAF fee: USD 0.000119 * 1 share = USD 0.000119 rounded up to USD 0.01
The total would be USD 0.02
Commission fees are subject to prevailing GST of 7% in accordance with Singapore GST regulations. GST only applies to commissions outside of the free trade allowance.