TD Ameritrade Options Commission Reduction

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

  1. tom

    tom Administrator Staff Member

    I'm talking to TD Ameritrade about getting a group rate for our paying members. We wouldn't be allowed to publish the rate on our public pages but it's a pretty good rate. I'm still waiting to get the specifics of how our members can get the reduced rate. Hopefully soon.
     
    Scott Slivnik, Srini D and Marcas like this.
  2. Ice101781

    Ice101781 Guest

    Hey Tom - thanks for your work on this. Only thing is, it seems like you wouldn't know if the group rate is better than your current rate unless you sign up for a paid CD membership. Is that correct?
     
  3. Ice101781

    Ice101781 Guest

    Also, would there be a reduced group rate for futures options as well?
     
  4. tom

    tom Administrator Staff Member

    I think they are working on a reduced futures options rate since I mentioned many of us trade those. I can tell people individually what the rates are I think. I just can't publish them on our public pages.
     
    Srini D likes this.
  5. Srini D

    Srini D New Member

    Hi Tom,
    Any updates you can share on this?
     
  6. tom

    tom Administrator Staff Member

    Not yet. I sent an email today asking for an update.
     
  7. Srini D

    Srini D New Member

    Thank you, Tom.
     
  8. wja

    wja New Member

    I have been through the commission wringer with TDA. I told them I was shopping between them and IB, and they promised me .65 per contract with no ticket charge based on getting $150K in the account. When I got the dollars in, they said that was WITH ticket charge and wouldn't honor the agreement. Recently I got another $200K together so I called up, told my story, and offered them another chance to make it right. Then they went quiet for about 10 days. When I finally heard back from them, they offered .75/contract with no ticket charge. However, by that time I had opened my account at IB because I got tired of waiting. I'm interested to see what they offer as a group rate....
     
  9. garyw

    garyw Well-Known Member

    .75/contract, no ticket is a very good rate for that account size.
    The commission of 65cents + Ticket charge seems standard (for TOS) for the account size you mentioned.

    I am amazed they gave 75 cents no ticket for 350K account. Did you show them trading volume over 2K/month to get that rate?
     
  10. status1

    status1 Well-Known Member

    I am not sure if they can do a group rate for everyone at CD unless everyone has an extra 150k or 200k to throw into their account
    Also by what I saw in the video of the Beginner trading group where there was a comparison of different fee structures
    depending on how many option trades you make the ticket charge version might be better if you have more than 20 option trades compared to a $1.25 flat rate and since I imagine many of us trade 5 lot flys or more I am not sure a flat rate is good for everyone unless you can get it down to 65 cents flat rate which I am sure they are not likely to go for that unless they can still make money at that rate They cannot give the same rate to someone who has a lot of option trades and also to someone who only trades 1 or 2 lots
     
  11. Elli

    Elli Active Member

    I am thinking about setting up an IRA at TDA. How large does your account have to be to get a no or low ticket charge, $1 a contract account?
     
  12. Tim

    Tim Well-Known Member

    Eli, they apply a formula to see if you can get $1.00 based on how many contracts you trade per month. I think it is around 1500 contracts but I'm not sure.
     
  13. wja

    wja New Member

    garyw, sorry for the delay in my reply. Do you mean $2K in commissions per month? I don't have anywhere near that volume. They were only going to require the next $200K of funding to give me the new rate.
     
  14. Casey

    Casey Guest

    Tom - I heard you mentioned the reduced TOS commissions for CD members on one of the trading group webinars last week. I just wanted to check in and see if you have heard anything back from TD on this?

    Thank you in advance.
     
  15. jpluto

    jpluto Active Member

    Hello. Anyone trade /ES futures through TDA and been successful getting reduced commissions/fees? About 6 months ago I was able to get a slightly reduced commission and I'm currently at $2.15 + $0.56 per contract. If anyone can please share what they were able to negotiate it would be very much appreciated since I'm planning to have another discussion with them soon. :D
     

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