It looks like E*TRADE is trying to make a run at ThinkorSwim with its buying OptionsHouse. How does OptionsHouse compare to TOS? What about E*TRADE Activetrader Pro? Does anyone think they can build something that is better than TOS? I don't have an account at either company. Just curious to see what people think.
I wasn't even aware Etrade bought out OptionsHouse. -- thanks for the heads up, $4.95 base, and 50cents per contract...I'm currently paying $4.95 base, and 65cents per contract with TradeKing I won't necessarily switch just yet because of that, but maybe down the road that's something I'll keep in mind.
Our option commissions start at $0.60/option, with a minimum charge of 1.00 per ticket. https://www.lightspeed.com/pricing/commission/ Bob
Just go with the broker that offers the lowest commissions. You should be able to get somewhere around 0.60 per contract, with no flat-fee. Call the trade desk and negotiate.
Commissions should be a part of what to look for, but it really depends on what and how your are trading. For instance Think or Swim has an "all in" price. If you are trading SPX or VIX options you will pay exchange fees of around .62 for each additional contract, but not at TOS. How important is the platform? Do you enter a lot of spreads? Do you enter large orders? Do you want spread orders sent to the electronic book (COB). Do you want the ability to route to specific exchanges? Is there a chance you will trade futures? Customer service, quick phone pickup? Who you pick really depends on these and other questions.
I think services are more important. Customer service, good reporting, good tools, good margin treatment. If retail commissions drive your pnl, you should probably think of another strategy. However the service can save or cost you a lot.
I agree. That is why I'm proud of what we have to offer. We offer institutional level service and support at discount broker commissions. Bob