Zero Commish during options expiration!!??
- Thread starter nitro
- Start date
If you limit your trading to this period, it's a really good deal. Can't speak to the usability of their platform or the reliability in execution.
During regular periods, their pricing schedule is more than my broker for some trades and less than for others.
Interesting is the fact that they don't seem to limit the decent volume ETFs as they do in the some of the other "offers". My suspicions are that they offer these to drum up activity in some of these lower volume ETFs.
Fidelity offers IWM and EEM (no QQQQ or SPY), but the others are pretty low activity. The TD Ameritrade list didn't even have IWM or EEM. Not sure about Schwab or Vanguard.
Fidelity offers IWM and EEM (no QQQQ or SPY), but the others are pretty low activity. The TD Ameritrade list didn't even have IWM or EEM. Not sure about Schwab or Vanguard.
Quote from spindr0:
ETF's also seem to be the new frontier for no commission trading. Schwab, Fidelity and Vanguard have a small number of them. On Friday, TD Ameritrade announced a list of 101 commission free ETF's. And no, I don't trade there
Being able to "trade" some ETFs for free could be helpful. The AMTD fine print reveals what a pitiful scam their deal is. Read the following:
To trade commission-free ETFs, you must be enrolled in the program. Eligible ETFs purchased commission-free must be held for at least 30 days. If you sell an ETF within 30 days of being purchased commission-free, a short-term trading fee will apply.
I looked through OP's link trying to find the fine print. Nothing. It's there - probably in the appllication process.
Their data and misc. fees don't look very good. Every time I look into other brokers, I find that IB is still the best for me.
I have a backup broker, but I'm not satisfied in this area - still looking for a good backup.
Quote from donnap:
I looked through OP's link trying to find the fine print. Nothing. It's there - probably in the appllication process.
These gimmick brokers tend to spank you on exercise/assignment. ChoiceTrade indicated that the fees for these are extra but I didn't see details. I assume it's just considered a closing transaction.
Their data and misc. fees don't look very good. Every time I look into other brokers, I find that IB is still the best for me.
I don't think that $14.95 per month for data is prohibitive. What bothers me is the flat fee per trade. IB is 50 cts a share/70 cts a contract and since I sizeably scale positions up and down, that would hurt me severely. BTW, what is Direct Access trading? (.005 cts per 100 sahres)
I have a backup broker, but I'm not satisfied in this area - still looking for a good backup.
Ditto. TradeStation is somewhat competitive but I don't know if they still have that minimum monthly trading volume to avoid a $100 (?) platform fee. FWIW, they're offering commission free trading until 2011 (maximum commission rebate of $500).