Retail Execution Cost Index
What a $10,000 order costs a private investor in spread and market impact, by market and by sector, across 500 US and European stocks — estimated every day with the PreTrAIde model.
Data as of 1 November 2026
The median $10,000 order costs $17.38 (17.4 bps) across 500 stocks.
By market
| Group | Stocks | Median cost of $10k | Median spread | Median daily vol. |
|---|---|---|---|---|
| United States | 1 | $6.00 | 10.5 bps | 2.20% |
| NYSE | 254 | $8.44 | 14.5 bps | 1.66% |
| Nasdaq | 210 | $28.03 | 45.0 bps | 2.13% |
| Paris (Euronext) | 10 | $30.37 | 43.9 bps | 1.68% |
| Germany (Xetra) | 6 | $46.32 | 65.9 bps | 1.35% |
| London (LSE) | 16 | $93.93 | 112.0 bps | 1.54% |
| NYSE American | 3 | $263.12 | 252.3 bps | 3.05% |
By liquidity tier
| Group | Stocks | Median cost of $10k | Median spread | Median daily vol. |
|---|---|---|---|---|
| Very deep | 1 | $0.94 | 1.81 bps | 1.62% |
| Deep | 25 | $1.64 | 3.05 bps | 1.05% |
| Good | 166 | $4.76 | 8.31 bps | 1.31% |
| Moderate | 134 | $18.06 | 29.1 bps | 1.85% |
| Thin | 100 | $65.13 | 89.5 bps | 2.47% |
| Very thin | 74 | $233.65 | 248.1 bps | 2.96% |
By sector
| Group | Stocks | Median cost of $10k | Median spread | Median daily vol. |
|---|---|---|---|---|
| Utilities | 14 | $4.08 | 7.11 bps | 0.83% |
| Non-Energy Minerals | 7 | $5.82 | 9.86 bps | 1.95% |
| Energy Minerals | 29 | $6.48 | 11.0 bps | 1.19% |
| Finance | 53 | $13.90 | 23.0 bps | 1.57% |
| Process Industries | 16 | $14.50 | 23.0 bps | 1.77% |
| Consumer Non-Durables | 28 | $14.55 | 23.4 bps | 1.32% |
| Retail Trade | 28 | $16.91 | 27.8 bps | 1.79% |
| Industrial Services | 25 | $17.10 | 27.8 bps | 1.76% |
| Transportation | 14 | $17.15 | 27.1 bps | 1.73% |
| Health Services | 12 | $18.19 | 29.9 bps | 2.18% |
| Commercial Services | 28 | $18.75 | 30.3 bps | 1.77% |
| Consumer Services | 35 | $18.87 | 29.2 bps | 2.10% |
| Consumer Durables | 15 | $19.34 | 29.8 bps | 1.84% |
| Technology Services | 85 | $20.64 | 31.7 bps | 1.91% |
| Communications | 3 | $22.96 | 34.6 bps | 2.45% |
| Electronic Technology | 25 | $23.53 | 38.3 bps | 2.27% |
| Health Technology | 54 | $25.71 | 41.0 bps | 2.99% |
| Producer Manufacturing | 20 | $34.47 | 50.8 bps | 1.88% |
| Distribution Services | 8 | $94.59 | 114.6 bps | 1.97% |
Cheapest to trade
| Stock | Market | Cost of $10k | Spread |
|---|---|---|---|
| TSLA Tesla, Inc. | Nasdaq | $0.94 · 0.94 bps | 1.81 bps |
| COST Costco Wholesale Corporation | Nasdaq | $1.42 · 1.42 bps | 2.65 bps |
| WMT Walmart Inc. | Nasdaq | $1.45 · 1.45 bps | 2.71 bps |
| NEE NextEra Energy, Inc. | NYSE | $1.48 · 1.48 bps | 2.69 bps |
| KO Coca-Cola Company | NYSE | $1.51 · 1.51 bps | 2.78 bps |
| LIN Linde plc | Nasdaq | $1.51 · 1.51 bps | 2.76 bps |
| CVX Chevron Corporation | NYSE | $1.52 · 1.52 bps | 2.81 bps |
| PG Procter & Gamble Company | NYSE | $1.52 · 1.52 bps | 2.79 bps |
| MCD McDonald's Corporation | NYSE | $1.53 · 1.53 bps | 2.83 bps |
| HD Home Depot, Inc. | NYSE | $1.54 · 1.54 bps | 2.84 bps |
| V Visa Inc. Class A | NYSE | $1.54 · 1.54 bps | 2.88 bps |
| MDT Medtronic Plc | NYSE | $1.56 · 1.56 bps | 2.92 bps |
| ABBV AbbVie, Inc. | NYSE | $1.63 · 1.63 bps | 3.00 bps |
| XOM Exxonmobil Holdings Corporation | NYSE | $1.64 · 1.64 bps | 3.05 bps |
| MA Mastercard Incorporated Class A | NYSE | $1.66 · 1.66 bps | 3.08 bps |
Most expensive to trade
| Stock | Market | Cost of $10k | Spread |
|---|---|---|---|
| LUNG Pulmonx Corp. | Nasdaq | $329.61 · 329.6 bps | 300.0 bps |
| JYD Jayud Global Logistics Limited Class A | Nasdaq | $327.89 · 327.9 bps | 300.0 bps |
| SNES SenesTech, Inc. | Nasdaq | $327.35 · 327.3 bps | 300.0 bps |
| DMAC DiaMedica Therapeutics Inc. | Nasdaq | $321.76 · 321.8 bps | 289.1 bps |
| KRRO Korro Bio, Inc. | Nasdaq | $315.51 · 315.5 bps | 300.0 bps |
| AEYE AudioEye, Inc. | Nasdaq | $310.15 · 310.2 bps | 300.0 bps |
| CHSN Chanson International Holding Class A | Nasdaq | $306.21 · 306.2 bps | 300.0 bps |
| RENT Rent the Runway, Inc. | Nasdaq | $304.43 · 304.4 bps | 300.0 bps |
| PMI Picard Medical, Inc. | NYSE American | $298.42 · 298.4 bps | 300.0 bps |
| CMCT Creative Media & Community Trust Corporation | Nasdaq | $294.61 · 294.6 bps | 300.0 bps |
| TLS Telos Corporation | Nasdaq | $293.95 · 294.0 bps | 300.0 bps |
| KPLT Katapult Holdings, Inc. | Nasdaq | $292.66 · 292.7 bps | 300.0 bps |
| SGP SpyGlass Pharma, Inc. | Nasdaq | $285.07 · 285.1 bps | 278.5 bps |
| GIBO GIBO Holdings Limited Class A | Nasdaq | $283.66 · 283.7 bps | 300.0 bps |
| BOOM DMC Global Inc. | Nasdaq | $280.02 · 280.0 bps | 300.0 bps |
Method: for each stock in PreTrAIde's daily universe, the estimated half-spread plus market impact of a $10,000 market order, from 30-day average volume and recent volatility. Medians by group. Estimates, not quotes.
Cite as: PreTrAIde Retail Execution Cost Index, 1 November 2026. https://pretraide.com/reports/execution-cost-index
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