TD Ameritrade Options Commission Reduction

Discussion in 'Online Brokers' started by PJSal, Aug 22, 2017.

  1. PJSal

    PJSal Member

    Hi all,

    I had a 1.5 USD/leg commission until friday, which is fairly usual commission on TD (although their standard advertise is 6.95USD !!!!). Currently, I have a 1.0 USD/leg without ticket!
    I achieved this because I asked for an option fee reduction informing that I will leave TD if they wouldn't reduce it and move to Tastyworks. And it worked!
    I have now a 1.0 USD per option leg, which is a 50% discount from my previous rate!

    This is an idea for the ones who which to have a rebate on TD options brokerage fees!
    Very important, as I am a small account and trade mainly butterflies!
     
  2. tom

    tom Administrator Staff Member

    My contact at TD Ameritrade put me in touch with the right person to arrange a group discount yesterday. Hopefully, a group discount will be coming soon for CD members.
     
    shpotts, Srini D, Sanjeev B and 3 others like this.
  3. PJSal

    PJSal Member

    Hi Tom. This is good! For sure they will do it as they did to me.
     
  4. stevegee58

    stevegee58 Well-Known Member

    Are TDA and TOS the same thing or do they have different commission schedules?
     
  5. garyw

    garyw Well-Known Member

    Typically, they are the same. It is possible to have TDA accounts that are NOT TOS compatible -- unclear for this case if commissions may differ. Institutional accounts thru TDA have commissions locked at time account is first funded, and cannot be re-negotiated any longer.
     
  6. Harry

    Harry Well-Known Member

    I opened my account with TDA and had no connection/understanding of TOS until recently. However, I have been able to work with TOS support folks twice to get my rates adjusted. YMMV.
     
  7. jpluto

    jpluto Active Member

    I called TDA last week and was able to get down to $5 ticket / $.65 per contract. This was a reduction from $6.95 / $.75 per contract. I basically told them that I would be moving $ over to IB if I couldn't get better commissions.
     
  8. peter

    peter New Member

    Harry,
    What is the commission rate you got from TDA?
     
  9. Harry

    Harry Well-Known Member

    I got 75cents for index options and 1.90 for index futures - hope to reduce index futures substantially as I had absolutely no history trading futures but unless I can get it to $1, I do not think it will be worth it and will stop trading those.
     
  10. Harry

    Harry Well-Known Member

    The reason I trade futures today is because I trade exclusively on my phone. I do look at P&L graph once in a while and more so now than before, but the entirety of order execution and most of order planning (for condors) is on the phone. I want to diversify and I do not want to have 2 many positions (>2) under any one symbol as it gets hard to track and review, so I added futures as one more thing to diversify into but its commissions are very expensive. I think I will be happy with $1 + exchange fees for /ES even though these will be 4X my SPX fees as it reduces my need to think while looking at my phone.
     
  11. Edward H

    Edward H Well-Known Member

    Are you getting $1 per leg including exchange fees (e.g., are you primarily trading SPX or RUT)? Just trying to see if I can negotiate my TOS commissions down a bit.
     
  12. Sanjeev B

    Sanjeev B Active Member

    Good day Tom,
    My Name is Sanjeev and I am new to this forum. Firstly my hello to all the fellow forum members.
    I would like to know if TD Ameritrade representative has come back to you with a response on group discount rate ?
     
  13. Srini D

    Srini D New Member

    Good day everyone:
    I am new to CD and this is my first post!
    I am very interested in getting rid of the ticket fee and would really appreciate any tips or tricks to reach out to TD Ameritrade. I currently pay their standard $6.95 + 0.65 and would like to get it down to less than $1 with not ticket.

    Tom, please let us know if you heard back from your contact regarding the group price for CD community.
     
  14. Jim C

    Jim C Member

    To all who are getting reduced commissions at TD Ameritrade: what is your account size, and what is the volume of your options trading?
     
  15. G...

    G... Member

    I opened my account few months ago and asked them to reduce commission , they reduced it to $4.95 ticket + $.65 per contract, she said that's because I told them I would transfer 100k to my account.
    Will they reduce ticket charge if I ask them again?
     
  16. Harry

    Harry Well-Known Member

    I have gone through 4 cycles of reductions : 2 of them were through subscriptions that helped reduce, and other 2 were my own initiative. Getting ready for 5th reduction as they said they can relook at future commissions once I have either build some track record with them, or show it from other brokers (60 days is what they need).

    Also been rejected 2-3 times :)

    Keep asking with more data, more activity or more threats to leave.
     
  17. G...

    G... Member

    Just chatted with them, they could only offered me $1.5 per contract.
    I mentioned IB, they typed "TDA does not compete directly with firms on price alone".
    At beginning they actually want me to add more funds ( isn't 100k good enough for a good price?). I think I will ask them again next year, otherwise I will move to IB. o_O
     
  18. OptionsDude

    OptionsDude New Member

    You should mention Tastyworks -- I think that is the competitor they are really scared of
     
  19. Paul Demers

    Paul Demers Well-Known Member

  20. Jack

    Jack Well-Known Member

    Your current commission is better than what you will get at IB if you trade predominantly SPX as many of us do after factoring in exchange fees and all that. IB's risk graph analysis is hardly usable. Submitting, closing complex orders is very simple with TOS but a nightmare at IB. Many things to consider outside commissions. I used IB platform for one of my accounts for 8 yrs and finally quit.
     
    Paul Demers likes this.

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