Commissions in TOS - Ask for a DISCOUNT !
Posted: Wed May 26, 2010 6:49 pm
Was just answering another post and thought it would be good to elaborate on the point I made in it.
It is possible to negotiate better Futures Commissions with ThinkorSwim. So, if you are doing contracts every day, or even just multiples per week, then make sure you go to the support tab soon and tell them you want a better price. They should offer you something better straight away, even if it is only 50¢ better each way, that will save you 1$ per trade, per contract, so can add up.
Just for everyones information, because I know someone will ask otherwise, standard commission rate for a futures trade with ToS is 3.50$, this is inclusive of exchange fees etc, one way per contract.
I had my futures price reduced to 3.00$ within only a few weeks of trading Futures and I currently pay less than that because of my volume (which isn´t huge, but multiple contracts each go, and a few trades in and out per day - 3 - 6 trades per day normally).
Just as a final piece of information, I never was able to get my stocks commission reduced, even though the quantities I was trading were higher than average. Not an issue now, although I still do dabble with stocks its no big deal with the volume I have reduced to now.
It is possible to negotiate better Futures Commissions with ThinkorSwim. So, if you are doing contracts every day, or even just multiples per week, then make sure you go to the support tab soon and tell them you want a better price. They should offer you something better straight away, even if it is only 50¢ better each way, that will save you 1$ per trade, per contract, so can add up.
Just for everyones information, because I know someone will ask otherwise, standard commission rate for a futures trade with ToS is 3.50$, this is inclusive of exchange fees etc, one way per contract.
I had my futures price reduced to 3.00$ within only a few weeks of trading Futures and I currently pay less than that because of my volume (which isn´t huge, but multiple contracts each go, and a few trades in and out per day - 3 - 6 trades per day normally).
Just as a final piece of information, I never was able to get my stocks commission reduced, even though the quantities I was trading were higher than average. Not an issue now, although I still do dabble with stocks its no big deal with the volume I have reduced to now.