Options Brokerage Rates?

Discussion in 'Options' started by Pinozi, Feb 7, 2011.

  1. Pinozi

    Pinozi

    I am based in the land down under otherwise known as Australia. The ASX has just released a memo saying they are changing the size of their option contracts from 1000 shares per contract down to 100 shares per contract

    My question relates to the options brokerage rates charged in the USA, since you have been at 100 shares per contract for a while now

    In retail land in Australia the cheapest brokerage I have seen is about $2.20 per option traded with a $22 minimum. This obviously varies with brokers with the larger brokers charging around $50 per leg or 0.5%

    If you are using an advisor they often charge $85 per option leg or 1%

    Now the ASX clearing house have made their fee's about 1/10 of current fees so I expect most Australian brokers to do likewise

    Now what are the ranges of brokerage rates that are charged for trading options in the USA? (Is there a site that compares brokers?)

    Would also like to get some various rates so I can compare the smaller boutiques and larger firms?

    Also are there any brokers or advisors on options in the USA and what do they normally charge for their full service?

    Thanks in advance

    Cheers

    P
     
  2. Pinozi

    Pinozi

    I've done some initial research myself - here is the screen shot (I couldnt paste the table)

    Can someone please tell me what are some of the other larger brokerage houses in the states?

    Also Im interested in what these places charge for a phone order - I cant seem to find as much info - any pointers would be appreciated

    Cheers

    P
     
  3. def

    def Interactive Brokers

    You should look at IB in Australia then. Our fees are $3 per contract which consists of AUD 1.88 commission + AUD 1.12 Australian Clearing House (ACH) fee.

    Also note, AUD 2.75 will be charged for exercise/assignment (includes ACH fee of AUD 0.55).

    http://www.interactivebrokers.com/en/p.php?f=commission

    In the US we charge 70 cents per contract and slide down from there. All details are on the link above.
     
  4. dont

    dont

    Your website quotes 0.02% for KOSPI options its 0.2%.
     
  5. def

    def Interactive Brokers

    As they say out here - AIYA. Will get that fixed. Thanks for pointing that out.
     
  6. Pinozi

    Pinozi

    This was more of a general question for the US based options traders here. I know IB are very cheap - thanks for the info


    So anyone else here able to give me some more general info about what US brokers charge for options trades?

    Cheers

    P
     
  7. Got a link to this memo?
     
  8. Pinozi

    Pinozi

    Here's a pdf - cant find it on the ASX site
     
  9. Thanks. Did you get this pdf through email?
     
  10. joe4422

    joe4422

    A few bucks per contract is the norm.

    You can check the rate at any of the brokerages, as they all do options.
     
    #10     Feb 10, 2011