TDAmeritrade commission Micro YM

Hello all,

I have an account with TDAmeritrade and I am using ThinkOrSwim
I placed a trade on one contract of the MYM (mcro mini DOW) and I paid ....
4.95 in fees and commission !, which is absolutely obscene since the micro contracts are 1/10 the size of a mini contract !. I was expeting to pay 49 cents and not ten times that amount.
Is there a better alternative ? I absolutely need to find a different broker.
Thanks

 

I was shocked by the same thing. Have not found an alternative. More so hoping TD realizes the micro commissions are ridiculous and lowers/eliminates them. I would be grateful if anyone has a better broker.

 

I would encourage you to look at Tradovate. Our highest rate plan for the MYM is $0.56 per side, all-in (total cost). No gimmicks, no rebates after you trade, no licenses to buy. You can choose at any time to upgrade to a subscription plan to get a lower rate, but it is not necessary.

You get, a download version for Windows and Mac, Web Version and two mobile versions all included. Use them all!

Tradovate Website
Tradovate Pricing

 

Interactive Brokers is .47 a side all in and Amp is .37 all in if account its more than $10k account and .39 if account less than $10k.Those are the cheapest no strings attached all in rates with no vol requirements i've seen.

 

Before you do anything else, I would call TD and ask them to lower your commissions.

 

Lol you think ameritrade will drop from $4.95 to .47 cent a side . Good luck with that

 

But don't you charge $60 for international wires to UK ?

 

No, but they may reduce it to a point where its not worth switching brokers depending on your other trading needs. A five minute phone call is certainly worth it.

 

I've asked TDA about this and they said it is what it is.

I trade micros at IBKR.

 

Well i'd advise if he also trade stocks to keep ameritrade for that and trade futures with amp. I think the day margins for the micro's are $140 or so . With $5k you can safely control 20-25 micro's intraday