IB vs Thinkorwim - Options Trade Executions

I negotiated commission down with ToS (it's per option contract and only slightly more than what IB charges. ToS has no data fees and no 'No trading' monthly fees)- that's why I say IB has only slight advantage over ToS in commissions.

I'll monitor further in my live ToS account as to how the fills are compared to IB.

Thanks
rd100
 
Quote from rd100:

I negotiated commission down with ToS (it's per option contract and only slightly more than what IB charges. ToS has no data fees and no 'No trading' monthly fees)- that's why I say IB has only slight advantage over ToS in commissions.

I'll monitor further in my live ToS account as to how the fills are compared to IB.

Thanks
rd100
More...
rd100, what commissions did you get? The minimum I was able to get was $1.00 per contract with trade fee, which is still almost 50% more than IB.
 
As a long time ToS user I can tell you for a fact that TOS papermoney fills are VERRRRRY generous. It is free software to give you the look and feel, to train you where the buttons are and it is not designed for $5 million accounts exploiting $ 0.01 statistical arbitrage from the aft deck of your yacht in the bermuda (usual set up here at elitetrader.com .)

If they built in some different sort of order filling .. you'd see the free-ness go away and that's not a good thing for them or newbs.
 
tos is definitely better to me, they have so much nicer graphs/charts for options that show you how your position/given option changes based on the greeks etc..

But nothing beats IB when it comes to jack of all trades (no pun intended). So i have a ToS with a few shares of long term investment just to keep the account open to use their graphs, then do the actual trading in IB
 
Quote from rd100:

Thanks for pointing out... Yes, my trade today was on ToS papermoney... But if they were to fill it knowing it was papermoney, they would have filled it instantly. My order was 'working' for couple of minutes before getting filled as the price (shown on the working orders tab) fluctuated above and below my price by 10-15 cents.

I had a real trade on Monday on ToS, and it was filled at the middle as shown on ToS after price fluctuated above and below. I agree I didn't have that trade on IB.

Thanks
rd100
More...

Never come to a form and discuss a trade without disclosing that it's not real

TOS is notorious for making it look easy to get fills - but only with paper accounts. They seek gullible people like you to believe their place is better, when it is only more expensive.

Try it will real money and IB is far better.

Mark
 
Thanks all for your advice...

I pay 1.25 per contract at ToS and 1.07 per contract at IB (even though IB says the comm is 0.70 per contract, I have never gotten it).

I opened ToS account to leverage their platform and do small amount of trading while keeping my Friends and Family Advisor setup for 6 IRA accounts at IB. I was thinking of moving my accounts to ToS, but I'll now wait and monitor more in terms of fills in live accounts at both.

IB has 10.00 fee for no-trading per month per account. To top it off, they also charge 10.00 in advisor account if the advisor did not trade enough in clients' accounts in a given month (clients accounts belong to my family here). Now you can NOT have any trades done in Advisor account, but IB requires me to keep funds in there to cover no-trading fee just in case!

Thanks again
rd100
 
Quote from rd100:

Thanks all for your advice...

I pay 1.25 per contract at ToS and 1.07 per contract at IB (even though IB says the comm is 0.70 per contract, I have never gotten it).

rd100
More...
You are correct about $10 monthly fee (it doesn't apply if you generate more than $30 in comissions so it is not relevant for active traders). Another annoying thing is their order cancellation/modification fee (applies to options but not spreads). But as far as I know, 70 cents per contract applies to all clients, so I don't undestand how you pay 1.07.
 
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