Cheapest options broker

Cheapest options broker

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Options Trading: Understanding Option Prices

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Each year around the same time, I contact my broker to negotiate the commission rate I pay per option contract.

I've done this consistently for the past five years and each time I successfully get reduced option trading commissions.

The process and logic behind the negotiation will work for you. Let's get started!

Why Does It Works Right NOW?

And I give nearly the same answer to everyone each time but here's my special twist on the question below.

Remember that it's 100% cheaper to keep a current customer than to find a new one to replace you. So use this to your advantage and remind them at the end of the year how much money you are worth to them.

You'll be surprised how quickly facts help build your case for lower rate structures.

The 1 Question I Asked. . .

"Can I get a reduced commission structure?"

Here is the exact negotiation I had on the 24th of this month with the account manager that reduced my options rate from .50 per contract down to .25 per contract (17% savings):

I've highlighted some of the key areas during our little negotiation.

The key is NOT the question you ask; it's how you preface it. Notice how I first mentioned how long I've been a customer and I wanted a reduced rates "since I've traded a lot this year and planned to continue to do so."

Right away they know they are dealing with a profitable client that has been around a long time and will continue to be a source of income for them.

Finally, I countered their first offer of .35 with .25 which they accepted. This proves that you should never take their first offer. There is always room to work a little lower but don't get greedy.

When Does This NOT Work?

While this all seems great and I'm sure you are going to try it yourself there are limitations.

You have to show loyalty for them to give you a deal. This is a two-way street.

Second, you most likely need to trade a lot of contracts each year. This won't work if you are trading 1-5 options per month.

Ask Your Broker Then Share Your Story!

Get out there and try to negotiate a better commission rate structure then come back here and let me know how it went.

What did you say? How did they respond? Don't leave the conversation without getting some deal, even if it's small.

Be a tough negotiator!

Source: https://optionalpha.com/how-i-negotiated-a-17-savings-in-trading-commissions-by-asking-this-1-question-16148.html




When it comes to trading options, things can get a little expensive — especially if you are an active trader. As a result, it makes sense to minimize the fees you pay.

TradeKing

OptionsHouse

OptionsHouse is straightforward. You don’t need a minimum balance, and there is no minimum trading threshold to receive the low options commissions.

TD Ameritrade

Source: https://investorjunkie.com/17332/lowest-priced-options-brokers/



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