Routes & Execution
Professional smart routing and direct market access with transparent per-share pricing.
Green = rebate received · White = fee paid · N/A = not applicable
Equity Routing Fees
Stocks $1.00 and Above
Rates in dollars per share.
| Route | Add Liquidity per share ($) | Remove Liquidity per share ($) | Route Out per share ($) | Description | Trading Hours |
|---|
| SAGEREB | -0.0025 | 0 | 0 | Intelligently seeks liquidity in lit exchanges and dark pools up to the trader's limit. Any non-marketable quantity will be posted at the limit for a rebate. Costs 30 mils to remove Above dollar between 4 AM - 7 AM and between 7 PM - 8 PM. | 4:00 AM - 8:00 PM |
| SAGEPRO | 0 | 0 | 0 | Intelligently seeks liquidity in lit exchanges and dark pools to the trader's limit. Costs 30 mils to remove Above dollar between 4 AM - 7 AM and between 7 PM - 8 PM. | 4:00 AM - 8:00 PM |
| SAGEBLAST | -0.0010 | 0.004 | 0.004 | Intelligently seeks liquidity in lit exchanges and dark pools up to the trader's limit. Optimized for maximum liquidity capture. Any non-marketable quantity will be posted at the limit for a rebate. | 4:00 AM - 8:00 PM |
| SAGESORX | -0.0025 | 0.004 | 0.004 | Intelligently seeks liquidity in lit exchanges and dark pools up to the trader's limit. Optimized for maximum price improvement. Any non-marketable quantity will be posted at the limit for a rebate. | 4:00 AM - 8:00 PM |
| SAGESOR | -0.0025 | 0.0025 | 0.0025 | Intelligently seeks liquidity in lit exchanges and dark pools up to the trader's limit. Any non-marketable quantity will be posted at the limit for a rebate. | 4:00 AM - 8:00 PM |
| SAGEDARK | 0.0015 | 0.0015 | 0.0015 | Intelligently seeks liquidity at dark pools up to the trader's limit. Any unfilled balance will be posted at dark pools. | 9:30 AM - 4:00 PM |
| SAGEMID | 0.0015 | 0.0015 | 0.0015 | Intelligently seeks mid-point or better liquidity at dark pools up to the trader's limit. Any unfilled balance will be posted at mid-point in the dark. | 4:00 AM - 8:00 PM |
| SAGEMIDEXG | 0.0035 | 0.0035 | 0.0035 | Intelligently seeks mid-point or better liquidity at dark pools up to the trader's limit for all trading sessions. Any unfilled balance will be posted at mid-point in the dark. | 4:00 AM - 8:00 PM |
| SAGESWEEP | 0.004 | 0.004 | 0.004 | Intelligently seeks displayed liquidity up to the trader's limit using aggressive intermarket sweep orders. Optimized for rapid execution and maximum liquidity capture. SAGESWEEP does not interact with dark liquidity. Any non-marketable quantity will be posted at the limit price for a rebate. | 4:00 AM - 8:00 PM |
| SAGEPOST | -0.0025 | N/A | N/A | Post only destination. | 9:30 AM - 4:00 PM |
| SAGESTOP | 0.004 | 0.004 | 0.004 | Exchange STOP order that triggers at a specified limit price. | 9:30 AM - 4:00 PM |
| SAGEPEG | -0.0025 | N/A | N/A | Primary Peg route. | 9:30 AM - 4:00 PM |
| AMEX | -0.0016 | 0.003 | 0.003 | Smart order router for removes, with a post to AMEX exchange. | 7:00 AM - 8:00 PM |
| ARCA | -0.002 | 0.003 | 0.0035 | Smart order router for removes, with a post to ARCA exchange. | 4:00 AM - 8:00 PM |
| BATS | -0.0016 | 0.003 | 0.003 | Smart order router for removes, with a post to BATS Z exchange. | 4:00 AM - 8:00 PM |
| BYX | 0.002 | -0.0002 | 0.003 | Smart order router for removes, with a post to BATS Y exchange. | 7:00 AM - 8:00 PM |
| EDGA | -0.0027 | 0.003 | 0.003 | Smart order router for removes, with a post to EDGA exchange. | 7:00 AM - 8:00 PM |
| EDGX | -0.0016 | 0.003 | 0.003 | Smart order router for removes, with a post to EDGX exchange. | 4:00 AM - 8:00 PM |
| MEMX | -0.0015 | 0.003 | 0.003 | Smart order router for removes, with a post to MEMX exchange. | 4:00 AM - 8:00 PM |
| MIAX | -0.0016 | 0.0030 | 0.003 | Smart order router for removes, with a post to MIAX exchange. | 4:00 AM - 8:00 PM |
| NQPX | -0.002 | 0.003 | 0.003 | Smart order router for removes, with a post to Nasdaq PSX exchange. | 8:00 AM - 5:00 PM |
| NSDQ | -0.0018 | 0.003 | 0.003 | Smart order router for removes, with a post to Nasdaq exchange. | 4:00 AM - 8:00 PM |
| NQBX | 0.003 | 0.0007 | 0.003 | Smart order router for removes, with a post to Nasdaq BX exchange. | 7:00 AM - 7:00 PM |
| NYSE | -0.0012 | 0.003 | 0.0035 | Smart order router for removes, with a post to NYSE exchange. | 7:00 AM - 4:00 PM |
| TWAP | 0.0025 | 0.0025 | 0.0025 | Time Weighted Average Price: Linearly trades the order during the day. If an order is sent before the market open, it will start when the market opens and complete at market close. If an order is sent after the opening bell, it will start immediately and complete at market close. | 9:30 AM - 4:00 PM |
| VWAP | 0.0025 | 0.0025 | 0.0025 | Volume Weighted Average Price: Tracks the VWAP during the day. If an order is sent before the market open, it will start when the market opens and complete at market close. If an order is sent after the opening bell, it will start immediately and complete at market close. | 9:30 AM - 4:00 PM |
| OPEN | 0.0016 | 0.0016 | 0.0016 | Opening auction, including stock halts, order type, with posting to the symbols primary listing exchange. Supports Limit or Market. | 4:00 AM - 4:00 PM |
| CLOSE | 0.0016 | 0.0016 | 0.0016 | Closing auction order type, with posting to the symbols primary listing exchange. Supports Limit or Market. | 4:00 AM - 4:00 PM |
* All rates in this schedule are indicative of prevailing rates publicly disclosed by each respective exchange and are subject to change without notice.
** Negative rates indicate a rebate per share traded, while positive rates indicate a charge per share traded.
*** Rebate rates indicated for adding are only for fully displayed orders. Partially displayed or hidden orders may be subject to different rates as per the exchanges.
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FAQ
Typically within one business day. We aim to get your cash ready to trade as quickly as possible. Once your funds have settled and are available for trading, we'll send you an email to let you know.
You can deposit at any time, and settled cash can be withdrawn at any time.
No. You can trade as little as one share. There are no minimum share requirements.
The SageTrader Foundation is funded by a portion of our corporate revenue. For every trade executed on the platform, we divert a percentage of our profit to The SageTrader Foundation at no cost to you. Your commissions remain $0, while your trading activity drives the funding for children’s health and education.
Yes. Trading U.S equities on the commission-free SageTrader account is $0 commission: nominal regulatory fees such as SEC and FINRA pass-through charges may apply, and SageTrader adds no markup to these fees. If you want advanced routing, locates, ECN rebates or Options Trading, you can choose SageTrader Pro. SageTrader Pro always has commission fees.
Yes. SageTrader supports both long and short positions. To short, you must opt in during sign-up (or in the portal), make an initial deposit of $3,000 and maintain at least $2,000. While you can short the majority of companies, smaller companies with lower float may require SageTrader Pro, which provides the advanced locate tools needed for those specific strategies. Leverage may be needed as shorting stock allows for unlimited losses. Interest charges apply. Some stocks are subject to borrow fees.
To use margin, make an initial deposit of $3,000, maintain at least $2,000, and opt in.
If you want ECN rebates, Options Trading, or advanced locates or routes, you can sign up for SageTrader Pro. SageTrader Pro always has commission fees.
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