Tos Options Commission

Discussion in 'Retail Brokers' started by Busta21, Aug 24, 2012.

  1. Busta21


    Just wondering, if anyone cares to share, what rates you pay per option at TOS.

    Currently I am at $1 a contract putting through about 800-1000 contracts a month and wondering if there are lower rates/tips with comms using TOS.

  2. ffk4


    I don't have your answer, but am interested in opening accounts with tos if they can offer $1/contract rates. Do you know what volume they demand for the rates you pay? i.e. do you have to do 800/mo go get those rates?
  3. I get $1.25 per contract (and do nowhere near your volumes).
    However, I have had this account since before TDA bought them. I also have a account with IB and TOS didn't seem too interested in matching their pricing (even without knowing my volume) as they said: "IB is a deep-discount" broker, so I guess they consider themselves a "low discount" or something. Not sure if the switch to TDA will change their attitude for negotiation.

    TOS doesn't charge modification fees or monthly data fees and you can close short options <$0.05 for nothing, but they also have some other fees ($15 assignment fee per strike), so your style of trading may dictate if they are a good fit.
    I don't think they offer the same level of order routing as IB but you'll want to double check on that.
  4. Busta21


    No, before that I was putting through 100-200 a month and then asked. It was before the TDA merger though.

    Was just curious, because, it start's to add up after a while but the execution is flawless with them so hard to argue.
  5. don't know what the policy at tda (former tos) is now but i don't think they're as willing to negotiate individual rates as tos was - correct me if i'm wrong anyone who's tried this recently
  6. FSU


    Another thing to note is that TOS commissions include any exchange fees, so if you are trading the SPX, OEX, or VIX options (which have high exchange fees), you may be paying less than other brokers.
  7. TD are scumbags. Just a marketing organization. imho:D
  8. Busta21


    Good point. I'm sure there are platforms are the large I banks which have lower rates, just not there, yet.
  9. hitnrun



    With your volume you should be paying around 50 cents per contract with other brokers

    1.00 per contract is a high rate these days

    Have you looked at other brokers ?

    Maybe there is something special about tos you can't live without ?