tastyworks announces fee structure

[Autospreader]

You are underestimating how low cost this is compared to anywhere else. The issue with most low cost commision schedules is that they tie you to some other requirement, either account minimums, volume requirements, monthly platform fees, IRA vs Standard brokerage, etc
They have none of those...just a low flat transparent rate, that's it. How is 5 bucks expensive for the small trader? That's essentially $2.50 per trade. Anywhere lower and you gotta meet requirements and jump through the kind of hoops I mentioned above, and the small trader can't meet those. For options esentially $.50 per contract, no ticket fees, no volume requirments, no minimum charges, etc.. nothing.
The most mind blowing rates are the futures and futures options rates. That's effectively $2.50 plus clearing roundtrip, REGARDLESS of product. That is yuuuge!! No one else can match that!
These are industry disrupting rates, especially for entry level trading...

$2.50 per side is expensive in futures. I have paid as little as .10 per side with volume

 

[Data09]

$2.50 per side is expensive in futures. I have paid as little as .10 per side with volume

With how much volume?

 

[algofy]

With how much volume?

Would had to been quite a bit.

 

[trader42]

Link to FINRA https://files.brokercheck.finra.org/firm/firm_277027.pdf

 

[TheDowJones]

I just received an email from tastyworks. I'm pretty excited about their fee structure. No commissions to close trades!

I think anyone who is paying anywhere close to these fees for options isn't really an active trader, is very foolish, or just likes to throw money away.

 

[Data09]

I'm still with TDA. Even they lower my fees, I still pay a lot. But I'm neither an American Citizen nor an American resident. So my options to choose another broker is limited. I mainly trade ES and CL. Rarely options or shares.

 

[sysdevel99]

I think anyone who is paying anywhere close to these fees for options isn't really an active trader, is very foolish, or just likes to throw money away.

Help me learn something here. Which broker beats these commissions on their listed pricing structure for options? Please post the link to their commission table since I seem to like to throw money away. In order to get this from IB you need to trade at least 500 contracts per day and you still have cancellation fees. I guess I haven't shopped around for a broker for a while but 1$/contract with no closing fees or 50 cents per leg seems to beat all the offer from the brokers that want my business.

 

[TheDowJones]

My advice would be pick up the phone and call some introducing brokers. All these commission schedules are negotiable if you are really doing the volume. If your not doing high volume the commission fees shouldn't matter as much. For high volume traders it's a lot more about relationship with broker. I can assure of this no one doing 50,000 contracts/month should be paying $0.20/contract.

It's free to trade. Also those who have a cash account (IRA) versus margin, is really no risk to the firm. All the clearing fees and software fees are passed on to you. They just provide you with the setup.

 

[TheDowJones]

Help me learn something here. Which broker beats these commissions on their listed pricing structure for options? Please post the link to their commission table since I seem to like to throw money away. In order to get this from IB you need to trade at least 500 contracts per day and you still have cancellation fees. I guess I haven't shopped around for a broker for a while but 1$/contract with no closing fees or 50 cents per leg seems to beat all the offer from the brokers that want my business.

I'm assuming you are just using software the broker provides or do you have DMA through different software? Are you doing a lot of volume?

 

[Robert Morse]

$2.50 per side is expensive in futures. I have paid as little as .10 per side with volume

That must be a lot of volume.

Help me learn something here. Which broker beats these commissions on their listed pricing structure for options? Please post the link to their commission table since I seem to like to throw money away. In order to get this from IB you need to trade at least 500 contracts per day and you still have cancellation fees. I guess I haven't shopped around for a broker for a while but 1$/contract with no closing fees or 50 cents per leg seems to beat all the offer from the brokers that want my business.

To be clear, if you trade one side and let the option expire, exercise or assign, they charge you $1.10 plus reg and exchange fees. If you round trip the option, another $0.10/option plus reg and exchange fees. So if you trade one side and don't close the trade, these rates are a little high. If you RT the option, they charge your $1.20 which matches our listed rate of $0.60/option with no volume commitment. Then we give volume discounts.