I have been trading with Interactive Brokers since 2013 but lately I've been trading a lot of options and paying a fortune in commissions. I made 500k in gains this year so far but also paid 20k in commissions. Thats 20k for just 2 months of trading. So I'm guessing I'll be paying almost 240k in commissions this year. So I am thinking of switching to Robinhood to save on options commissions but I couldn't find anything about portfolio margin on their website. Does Robinhood offer this? That is the only thing keeping me from switching to Robinhood.
Does Robinhood offer portfolio margin?
- Thread starter GoogTgt
- Start date
Robert Morse
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I don’t know what kind of trading you do but getting filled at mid price is more important than commissions and portfolio margin. I doubt Robinhood would have good quotes. Another option is Fidelity Rewards plus program. They have zero commissions and better fills for accounts more than 250k. But you make that in one month. Good for you.
You gonna risk making 6mm in pnl by moving to a podunk broker to save a few hundred in commissions?
He's holding a PDT account. Doesn't know how to transact a CC and unaware of what happens with an assignment on a short call.
Well, 6m isn't guaranteed as gains are not linear. What if I made 0% by year end but ended up paying 200k in commissions? Is Robinhood that bad? Sure they don't have a rep I can call whenever I want but last I never had to call IB either last year.
Portfolio margin is a must for me as that lets me leverage almost 6x when needed without getting a margin call.I don’t know what kind of trading you do but getting filled at mid price is more important than commissions and portfolio margin. I doubt Robinhood would have good quotes. Another option is Fidelity Rewards plus program. They have zero commissions and better fills for accounts more than 250k. But you make that in one month. Good for you.
Fidelity has portfolio margin. It was so obvious that I didn’t feel the need to mention. Now, I have serious doubts about your level of trading. 500k in 2 months? Hmm
Wow....I wasn't aware of this Fidelity Rewards plus program. This is exactly what I am looking for. And they do offer portfolio margin. But they only waive commission for the first 100k contracts, which I'm going to easily exceed in 5 months. I'll reach out to them. Thanks much.I don’t know what kind of trading you do but getting filled at mid price is more important than commissions and portfolio margin. I doubt Robinhood would have good quotes. Another option is Fidelity Rewards plus program. They have zero commissions and better fills for accounts more than 250k. But you make that in one month. Good for you.
You are welcome. Glad you are able to see the value in Fidelity rewards plus program.Sorry spoke too soon.