tastyworks announces fee structure

$2.50 per side is expensive in futures. I have paid as little as .10 per side with volume

 

With how much volume?

 

Would had to been quite a bit.

 

Link to FINRA https://files.brokercheck.finra.org/firm/firm_277027.pdf

 

I think anyone who is paying anywhere close to these fees for options isn't really an active trader, is very foolish, or just likes to throw money away.

 

I'm still with TDA. Even they lower my fees, I still pay a lot. But I'm neither an American Citizen nor an American resident. So my options to choose another broker is limited. I mainly trade ES and CL. Rarely options or shares.

 

Help me learn something here. Which broker beats these commissions on their listed pricing structure for options? Please post the link to their commission table since I seem to like to throw money away. In order to get this from IB you need to trade at least 500 contracts per day and you still have cancellation fees. I guess I haven't shopped around for a broker for a while but 1$/contract with no closing fees or 50 cents per leg seems to beat all the offer from the brokers that want my business.

 

My advice would be pick up the phone and call some introducing brokers. All these commission schedules are negotiable if you are really doing the volume. If your not doing high volume the commission fees shouldn't matter as much. For high volume traders it's a lot more about relationship with broker. I can assure of this no one doing 50,000 contracts/month should be paying $0.20/contract.

It's free to trade. Also those who have a cash account (IRA) versus margin, is really no risk to the firm. All the clearing fees and software fees are passed on to you. They just provide you with the setup.

 

I'm assuming you are just using software the broker provides or do you have DMA through different software? Are you doing a lot of volume?

 

That must be a lot of volume.

To be clear, if you trade one side and let the option expire, exercise or assign, they charge you $1.10 plus reg and exchange fees. If you round trip the option, another $0.10/option plus reg and exchange fees. So if you trade one side and don't close the trade, these rates are a little high. If you RT the option, they charge your $1.20 which matches our listed rate of $0.60/option with no volume commitment. Then we give volume discounts.