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TDA/TOS Commissions activity

Discussion in 'Online Brokers' started by garyw, Mar 9, 2017.

  1. garyw

    garyw Well-Known Member

    With the recent wave of other brokers publishing reduced commissions, TDA/TOS seems currently more likely to negotiate lower option commissions.
    On the IndexIncomeTrading Skype group, a number of folks announced getting their TDA/TOS commissions lowered this week.
    Some fairly immediate, others of us had to wait 48 hours.
    Note: My prior experience with getting commissions lowered at TDA/TOS were much more difficult.
    Seems to be "blood in the water" now.
     
  2. DGH

    DGH Administrator

    Here's a simple solution: Transfer $1 million from another account, and TDA will gladly reduce your commissions. :D
     
  3. HowardS

    HowardS Active Member

    I think for a mil they will give you $2500 also! (But personally after the usual post upgrade performance of the past few days nothing could get me back to TOS!)
     
  4. Harry

    Harry Well-Known Member

    What are the typical numbers with no-per order fee?
     
  5. Jack

    Jack Well-Known Member

    What problems did you have with the TOS upgrade? My TOS platform has been running normally before and after the upgrade
     
  6. Harry

    Harry Well-Known Member

    Same here. I use the desktop platform once in a while, and the mobile app regularly - have not seen any issues recently - maybe a few weeks / couple of months back, but nothing recently.
     
  7. HowardS

    HowardS Active Member

    Lots of people had problemsmwith TOS this week. Memory problems, crashing, not booting up. The usual. They never test their upgrades prior to release and end up doing endless patches to correct.
     
  8. garyw

    garyw Well-Known Member

    "Typical" seems to run the gamut. W/C 1.5, B/C .65
    The thresholds seem to be 1.5, 1.25, 1.0, .75, and .65 With No Ticket charge (With Ticket charge, I think the list becomes much longer).
    What ever the requirements for an improvement in the commissions; that was reduced in the last couple weeks, apparently due to other brokerage houses dropping their commissions.
    I was at 1.00, and asked for and got .75 this week. (That 1.00 rate a few years ago, was difficult to obtain)
    These rates do not include Futures options, which is a different story.
     
    Harry likes this.
  9. TOPS

    TOPS Member

    Hi Gary - whom did you speak to in order to get your rate reduced, or, if you can't provide specifics, what area of customer service was able to help with this?
     
  10. garyw

    garyw Well-Known Member

    Most people merely use the TOS Support/Chat and submit inquiry to the TRADE DESK. -- You can also try your local Rep, or call in. The CHAT mechanism has had a high success rate.
     
  11. TOPS

    TOPS Member

    okay - thanks Gary
     
  12. garyw

    garyw Well-Known Member

    U R welcome.
     
  13. Larry

    Larry Active Member

    I'm at $1.10/contract with TOS and have been for a couple of years. 2 months ago I called and got nowhere. Called again yesterday, they are offering me either $1.00/ contract or $4.95 ticket with 0.65/ contract and, unlike before, they will let me have different pricing structures for different accounts. I have a couple accounts where I am going to have to take a close look at the $4.95 & 0.65.
     
  14. Oliver

    Oliver Member

    I think it helps if you have all your numbers, which I didn't when I called them.

    After I got basically ignored twice when calling for a reduction, I got a TDA email "how'd we do" survey and I filled it out politely but honestly. I pointed out I paid over $600 in comms in January and how much better off I'd be with IB + OptionVue in terms of net cost. Funny thing, I got a call from TDA the very next day suddenly eager to actually talk to me and more than willing to fix my commission. I told them it was too late, I already got an account at TW but they reduced me to $1 anyway.

    I've kept my TDA after all and I still do most of my trading there.
     
  15. Larry

    Larry Active Member

    Really depends on what you trade. For me, 85%+ of my trades are in SPX. I've never had an account at IB but from what I gather, once fees are included the price is around 1.20 for SPX. At my current rate of 1.10 with tos, my only add on fee is some type of exchange fee which is around 0.023 and with their offer of $1.00 per contract, that 0.023 will still be added on. If I was primarily trading anything other than index options, seems IB is a no-brainer (from a commission standpoint)
     
  16. Scott Slivnik

    Scott Slivnik Well-Known Member

    This thread prompted me to contact support. I was given the $1.25/ct. rate in April 2014 which was difficult to get. I had to make a $25K deposit which I withdrew one week later. It's been a year since I bugged them regarding commissions. I was approved for $1.00/ct. a few minutes ago with no teeth pulling required. I used the Chat function in TOS. :)
     
  17. Luke

    Luke Well-Known Member

    I currently have .75 with a $5 ticket charge and they turned me down on a reduced price about 3 weeks ago. I'm close to the number they need for a portfolio margin account and adding funds wasn't enough for them.

    They tried to tell me that I pay less than anyone else with SPX and RUT fees and that my commission would go up if I got the "standard" rate, but they haven't sent my commission structure, so don't know if they're just BSing.
     
  18. garyw

    garyw Well-Known Member

    Great Scott! -- I would expect this "window of opportunity" to possibly be short-lived!
     
  19. David C.

    David C. Member

    Good timing on this topic, I literally just spoke VIA chat to them and dangled the PM carrot in front of them. I got the "since you are already a client and are wanting to increase your account size to that level, we will have an account specialist call you", so that sounded reasonably positive, now I am wondering if they are just going to bs me, or try to sell me more financial products or services o_O

    I'll post my results...
     
  20. Scott Slivnik

    Scott Slivnik Well-Known Member

    When I chatted with them yesterday, they initially offered a promotion involving me depositing $25K. I declined and expected to receive no reduction. The rep. discussed my account with a case manager for a few minutes and then came back and stated I was approved for $1.00/ct. Good luck!

     

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