Trading fees and commissions

Submitted by Charles___Lee___Ray t3_11eimbi in wallstreetbets

I just looked at my TD ameritrade account and saw that I have almost $9000 in trading commission fees and what not Jesus Christ I had no freaking idea it costs so much to trade options.... Who do you guys all use because this is ridiculous.... I mean I've only been trading for like Three months.... Is there ways around this what do you guys do

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DidYouReadThatThing t1_jae89gs wrote

Options are $0.65 how many trades did you make!?

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mentalni_nered t1_jaesk0o wrote

I pay $11.24 USD for a single option contract with TD in Canada (fuck Canada!). $1.25 each additional contract.

Are there any cheaper options (pun intended) in Canada?

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Aleph_Price_Action t1_jae8n48 wrote

I had $27,000 in option fees last year with TD. It doesn't take that much for option fees to get up there when you day trade options. Fortunately, I also made a lot more than that.

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VisualMod t1_jae7m8g wrote

>There are definitely ways to reduce the amount you pay in trading commissions and fees. One way is to trade less often. If you only trade a few times per month, your total commission costs will be much lower than if you were trading multiple times per day. Another way to reduce costs is to use limit orders instead of market orders when possible. This ensures that you only pay the commission on trades that are actually executed, rather than paying for each order placed regardless of whether it fills or not. Finally, some brokerages offer volume discounts which can significantly reduce your overall cost if you're a high-volume trader.

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Charles___Lee___Ray OP t1_jae7q6w wrote

Are you a human

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Zero-Benjamins t1_jaec4qo wrote

Yes visual mod is definitely human

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BigCawkHamster t1_jaed2uv wrote

You sound scared OP, this is not a place to sound scared, its a place to lose all your money and play options. Youre doing very well at the moment, keep it at it and soon enough you will be on the glorious wall of loss porn. This is not a place to get advice on making money silly lol.

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VisualMod t1_jae7lj1 wrote

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Aleph_Price_Action t1_jae8ftz wrote

What you need to do is simple. Call TD and negotiate your option fees down. I started at 0.65, and I'm now down to 0.4 a contract because my account size is larger, and I trade with volume. But even if you don't have a large account, they will usually agree to lower it a bit.

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greenskew t1_jaela98 wrote

What are you trading? If the move in your direction is not enough to offset your fees, trade something else.

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hunkofsoup t1_jaewgtv wrote

Webull is 0.05 a contract. Robinhood is 0.02 per sell but I’d say it’s worth it.

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