Options Brokerage Rates?

P

Pinozi

I am based in the land down under otherwise known as Australia. The ASX has just released a memo saying they are changing the size of their option contracts from 1000 shares per contract down to 100 shares per contract

My question relates to the options brokerage rates charged in the USA, since you have been at 100 shares per contract for a while now

In retail land in Australia the cheapest brokerage I have seen is about $2.20 per option traded with a $22 minimum. This obviously varies with brokers with the larger brokers charging around $50 per leg or 0.5%

If you are using an advisor they often charge $85 per option leg or 1%

Now the ASX clearing house have made their fee's about 1/10 of current fees so I expect most Australian brokers to do likewise

Now what are the ranges of brokerage rates that are charged for trading options in the USA? (Is there a site that compares brokers?)

Would also like to get some various rates so I can compare the smaller boutiques and larger firms?

Also are there any brokers or advisors on options in the USA and what do they normally charge for their full service?

Thanks in advance

Cheers

P
 
I've done some initial research myself - here is the screen shot (I couldnt paste the table)

Can someone please tell me what are some of the other larger brokerage houses in the states?

Also Im interested in what these places charge for a phone order - I cant seem to find as much info - any pointers would be appreciated

Cheers

P
 

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Quote from Pinozi:

I am based in the land down under otherwise known as Australia. The ASX has just released a memo saying they are changing the size of their option contracts from 1000 shares per contract down to 100 shares per contract

My question relates to the options brokerage rates charged in the USA, since you have been at 100 shares per contract for a while now

In retail land in Australia the cheapest brokerage I have seen is about $2.20 per option traded with a $22 minimum. This obviously varies with brokers with the larger brokers charging around $50 per leg or 0.5%

If you are using an advisor they often charge $85 per option leg or 1%

Now the ASX clearing house have made their fee's about 1/10 of current fees so I expect most Australian brokers to do likewise

Now what are the ranges of brokerage rates that are charged for trading options in the USA? (Is there a site that compares brokers?)

Would also like to get some various rates so I can compare the smaller boutiques and larger firms?

Also are there any brokers or advisors on options in the USA and what do they normally charge for their full service?

Thanks in advance

Cheers

P
More...

You should look at IB in Australia then. Our fees are $3 per contract which consists of AUD 1.88 commission + AUD 1.12 Australian Clearing House (ACH) fee.

Also note, AUD 2.75 will be charged for exercise/assignment (includes ACH fee of AUD 0.55).

http://www.interactivebrokers.com/en/p.php?f=commission

In the US we charge 70 cents per contract and slide down from there. All details are on the link above.
 
Quote from def:

You should look at IB in Australia then. Our fees are $3 per contract which consists of AUD 1.88 commission + AUD 1.12 Australian Clearing House (ACH) fee.

Also note, AUD 2.75 will be charged for exercise/assignment (includes ACH fee of AUD 0.55).

http://www.interactivebrokers.com/en/p.php?f=commission

In the US we charge 70 cents per contract and slide down from there. All details are on the link above.
More...

This was more of a general question for the US based options traders here. I know IB are very cheap - thanks for the info


So anyone else here able to give me some more general info about what US brokers charge for options trades?

Cheers

P
 
Quote from Pinozi:

I am based in the land down under otherwise known as Australia. The ASX has just released a memo saying they are changing the size of their option contracts from 1000 shares per contract down to 100 shares per contract.
More...

Got a link to this memo?
 
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