Charles Schwab buying TD Ameritrade

[blakecmathis]

Anybody know what this means for the future of our platform?

 

[mikeraya]

@BenTen Hopefully we'll get the $1.50 commission per contract that Schwab currently has.

TD charges .65 per contract.

 

[blakecmathis]

@mikeraya The TD site says $2.25 and that's what I've been paying for the past year.

 

[blakecmathis]

I love TOS but if I cant get the commission lowered I might have to start looking at opening an account elsewhere.

 

[TrueDepth]

It is .65 per contract. I don't know where you are getting 2.25

https://www.tdameritrade.com/pricing.page?

 

[blakecmathis]

@TrueDepth I'm not sure where you're getting that info from man, unless you have negotiated directly with TD. 9 contracts @ $2.25 puts commission total @ $20.25.

 

[BenTen]

@blakecmathis Probably because people thought you were talking about option trading. Should specify that you're a futures trader. $2.25 is correct.

 

[blakecmathis]

@BenTen Ohhhh no wonder dude. I couldn't figure out how all these guys are getting ridiculous commissions trading futures My bad guys

 

[blakecmathis]

@BenTen Called TD around lunch and they said they were gonna take a look at my account and get back to me so hopefully some good news!!!

 

[tomsk]

@blakecmathis Probably because people thought you were talking about option trading. Should specify that you're a futures trader. $2.25 is correct.

@BenTen you're absolutely right, my 0.75 rate was for options trades negotiated years ago due to sheer volumes

 

[qaw]

Non-US customers are paying more than 0.65 per equity options. bummer

 

[Bung Bang]

Non-US customers are paying more than 0.65 per equity options. bummer

Here in Sgp, I have to pay US$11 commissions per stock transaction using TDAM so I am jealous of US TDAM account holders that are enjoying free commissions in trading stocks.

 

[qaw]

Here in Sgp, I have to pay US$11 commissions per stock transaction using TDAM so I am jealous of US TDAM account holders that are enjoying free commissions in trading stocks.

Free stock trades might carry over to non-us traders in the future. The merger might quicken it possibly but I'm fearful of Charles messing with TOS.

 

[BenTen]

And it's official!

Charles Schwab will acquire TD Ameritrade in a $26 billion all-stock deal.

 

[blakecmathis]

$1.50 futures commissions here we come!!!!

 

[mc01439]

$1.50 futures commissions here we come!!!!

Good Luck @blakecmathis - futures commissions more than likely will require at least 100 or more contracts traded per month before they start with commission negotiation. But it doesn't hurt to try, unless you are trading beyond that level now then you can expect them to work with you.

 

[blakecmathis]

@mc01439 I'm hovering around 100 a week right now so I should be solid man!

 

[EDDY GARCIA]

Well I know who I'm calling during the chop today

you should have moved to a .65 cents per contract on options on stocks and zero commissions after the annoucement a few weeks ago. futures still priced higher than most and options on futures unaffected.

 

[blakecmathis]

@EDDY GARCIA I trade /ES day in and day out. I really have no interest in trading any other instrument man and here's why:
-same chart every day
-volume
-liquidity
-volatility
-zero limit on short exposure
-leverage
-long term capital gains tax rate

 

[traderintheroom]

The one nice thing I hope Schwab adds from their desktop platform into ToS is their High/Low intraday scanner for equities. Nice tool.

 

[Billions]

Sorry was referring to this site. trade.tdameritrade.com

Just took a look at that looks like tasty works platform if this is the platform we are all in for some trouble