All of you who are considering switching brokers or trying to reduce commission costs, please allow me to ask you a very basic question:
As an individual trader, have you reached a point where you are making profits on a consistent basis?
If the answer is an easy "yes", then it is definitely worth switching from TOS to IB, or negotiating with TOS to reduce your costs of doing business.
If the answer is "no", then most people would be better off focusing on improving their risk management and position sizing skills to elevate themselves to a point where the answer to the above question becomes "yes".
I am extremely sorry to take this thread in a different direction but please think again before going ahead with your own decisions...
Cheers Vikas
On Tue, Jan 26, 2010 at 9:16 AM, thecthing <theCthing@yahoo.com > wrote:
I am sure TOS knows perfectly well what IB is charging. They don't want to match it, or they would do so.
And if you can get them to match it, then what? I expect trading costs to continue to fall as more and more competition surfaces. Are you going to check everyone's site every month and go back to TOS for a lower rate when someone else lowers their rate? Are you going to switch back when someone else become cheaper? Both of these solutions are a PITA.
TOS is charging more money for the convenience of having its tools all in one package, and that is fine for those who want that. I take the lower price from IB and utilize tools found on the web. It just means having a couple more windows open--to me, no big deal. I am not the kind of customer TOS wants, and so I don't see why I should beg them to take me.
--- In OptionClub@yahoogroups.com , "bben1006" <bben1006@...> wrote:
>
>
>
> If the pre-contract commission is so important to you--just go with IB at $0.7 per contract. But evidently you would like and prefer to go with TOS--and the question is why?
> Is it for their first-rate desktop application with all the bells and whistles? Or is it for the superb costumer service, etc. etc.. etc.
> But all these do cost and are worth something -- but you really do not want to pay for them...
>
>
> --- In OptionClub@yahoogroups.com , rvd <rvdidit@> wrote:
> >
> > If the group included some new accounts, then I think they
> > might go for it.
> >
> >
> >
> > --- On Sun, 1/24/10, claudio048 <claudio48@> wrote:
> >
> > From: claudio048 <claudio48@>
> > Subject: [TheOptionClub.com] Re: Has anyone tried this for TOS Commissions?
> > To: OptionClub@yahoogroups.com
> > Date: Sunday, January 24, 2010, 4:42 AM
> >
> > I think Vivek has a good idea I would like to follow up on.
> > Is there enough TOS customers in this group to ask as a group for TOS to change their rate? Based on the thread below it looks like IB has $0.70 per contract with a $1 minimum. If TOS can do this it will be a big deal for me and I am sure others.
> > I know there is a way to do a poll in yahoo groups, so it should not be hard to find out how many of us use TOS. I volunteer to set it up if my privilages allow. Also I am an Investools (part of Ameritrade with TOS)PhD student and I am part of other groups where most if not all the members use TOS, I could do the same there. I am sure I am not the only one that is part of other groups. If we put forces together, I have a good feeling that we may be able to do something about this.
> > I have been a part of this group for a long time and have never posted but this topic sroke a cord in me to do this.
> >
> > Claudio
> >
> > --- In OptionClub@yahoogroups.com , vivekkapil@ wrote:
> > >
> > > I am familiar about IB but do not like their platform as much. I wanted to see if we can negotiate same price with TOS.
> > >
> > > Does this group have enough pull? Has anyone done it etc etc?
> > >
> > > Ciao and Happy trading. V
> > >
> > > V. Kapil
> > > http://twitter.com/vkapil
> > >
> > > -----Original Message-----
> > > From: Christian Gross <christianhgross@>
> > > Date: Sun, 17 Jan 2010 13:55:31
> > > To: <OptionClub@yahoogroups.com >
> > > Subject: Re: [TheOptionClub.com] Has anyone tried this for TOS Commissions?
> > >
> > > That's the default rate for IB...
> > >
> > > Though there is a new 0.014 USD charge that will be added in February.
> > > Its a new surcharge charged by the US government for surveillance of the
> > > options market. [sarcasm]Yippeee... not...[/sarcasm]
> > >
> > > Christian
> > >
> > > On 16/01/2010 08:44, vivekkapil@ wrote:
> > > >
> > > > What do we need to ask and who to get this rate? Please help.
> > > >
> > > > Thanks, v
> > > >
> > > > V. Kapil
> > > > http://twitter.com/vkapil
> > > >
> > > > --------------------- --------- --------- --------- --------- -
> > > > *From: * Christian Gross <christianhgross@>
> > > > *Date: *Fri, 15 Jan 2010 18:36:07 +0100
> > > > *To: *<OptionClub@yahoogroups.com >
> > > > *Cc: *KC<kchueng@>
> > > > *Subject: *Re: [TheOptionClub.com] Has anyone tried this for TOS
> > > > Commissions?
> > > >
> > > > For options on equities, or indicies it is 0.70 per contract, and a 1
> > > > USD minimum.
> > > >
> > > > Christian
> > > >
> > > > On 15/01/2010 16:26, KC wrote:
> > > >
> > > >> Jacob,
> > > >> May I ask how can you get the .70 per option contract? I though IB
> > > >> charge 1 per contract for retail.
> > > >> Thanks
> > > >> Karen
> > > >>
> > > >> --------------------- --------- --------- --------- --------- -
> > > >> *From:* "jacob.pacini@" <jacob.pacini@>
> > > >> *To:* OptionClub@yahoogroups.com
> > > >> *Sent:* Thu, January 14, 2010 6:18:19 PM
> > > >> *Subject:* Re: [TheOptionClub.com] Has anyone tried this for TOS
> > > >> Commissions?
> > > >>
> > > >> If I'm not mistaken it .70 per option contract with ib... Not $1 that
> > > >> make a .55 difference and to high volume trades that does make a huge
> > > >> difference.
> > > >>
> > > >> Sent from my BlackBerry Smartphone provided by Alltel
> > > >>
> > > >> --------------------- --------- --------- --------- --------- -
> > > >> *From: *"Joules" <jouless360@yahoo. com>
> > > >> *Date: *Thu, 14 Jan 2010 21:25:09 -0000
> > > >> *To: *<OptionClub@yahoogro ups.com <http://ups.com/>>
> > > >> *Subject: *Re: [TheOptionClub. com] Has anyone tried this for TOS
> > > >> Commissions?
> > > >>
> > > >> You can get $1.25 if you transfer an account from IB to TOS with a
> > > >> minimum account. They do this to compete with IB but they can never
> > > >> match the $1.00 trades at IB. I wouldn't expect them too either. The
> > > >> customer service and the tools at TOS are so superior that its worth
> > > >> the extra 25 cents per contract.
> > > >>
> > > >> Joules
> > > >>
> > > >> --- In OptionClub@yahoogro ups.com
> > > >> <mailto:OptionClub%40yahoogroups.com >, joseph tyszkiewicz
> > > >> <josepht51@ ..> wrote:
> > > >> >
> > > >> > I called TOS last Monday and was told that you have to trade 1000
> > > >> contracts per month to get $1.25
> > > >> > Joseph
> > > >> >
> > > >> > --- On Wed, 1/13/10, Tony Percuhini <tperuchini1959@ ...> wrote:
> > > >> >
> > > >> > From: Tony Percuhini <tperuchini1959@ ...>
> > > >> > Subject: Re: [TheOptionClub. com] Has anyone tried this for TOS
> > > >> Commissions?
> > > >> > To: OptionClub@yahoogro ups.com <mailto:OptionClub%40yahoogroups.com >
> > > >> > Date: Wednesday, January 13, 2010, 6:08 PM
> > > >> >
> > > >> >
> > > >> >
> > > >> >
> > > >> >
> > > >> >
> > > >> >
> > > >> > Â
> > > >> >
> > > >> >
> > > >> >
> > > >> >
> > > >> >
> > > >> >
> > > >> >
> > > >> >
> > > >> >
> > > >> > $1.25/contract and no ticket charge is available if you ask TOS,
> > > >> and that's even with a small account balance.
> > > >> > Tony
> > > >> >
> > > >> >
> > > >> > Â
> > > >> > On Wed, Jan 13, 2010 at 2:47 PM, Jack <jack@jackcpa. com> wrote:
> > > >> >
> > > >> >
> > > >> > Â
> > > >> >
> > > >> >
> > > >> >
> > > >> >
> > > >> >
> > > >> > Yes, that is an easy deal. Call them and tell them you are member
> > > >> of an option club (doesn’t really matter which one J ) and you want
> > > >> have to pay a ticket charge.
> > > >> >
> > > >>
> > > >
> > > >
> > >
> >
> >
> >
> >
> > --------------------- --------- ------
> >
> > The goal of TheOptionClub is to provide a forum for members to work together for the purpose of furthering our individual understanding option trading. All messages and postings, and any materials circulated are provided for discussion and educational purposes only. No statement contained in any materials from TheOptionClub should be considered a recommendation to buy or sell a security or to provide investment, legal or tax advice. All investors are encouraged to consult a qualified professional before trading in any security. Stock and option trading involves risk and is not suitable for most people. There is no guarantee that any information provided is accurate and, may in fact, be wrong. It is understood that the participants in TheOptionClub have varying backgrounds and degrees of experience in option trading, and that regardless of experience each member is considered a student. As such, any information distributed through
> > TheOptionClub should be considered with a critical mind and not relied upon as an authoritative source.
> >
> > To unsubscribe from TheOptionClub, send an email to:
> > OptionClub-unsubscribe@! Groups Links
> >
>
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The goal of TheOptionClub is to provide a forum for members to work together for the purpose of furthering our individual understanding option trading. All messages and postings, and any materials circulated are provided for discussion and educational purposes only. No statement contained in any materials from TheOptionClub should be considered a recommendation to buy or sell a security or to provide investment, legal or tax advice. All investors are encouraged to consult a qualified professional before trading in any security. Stock and option trading involves risk and is not suitable for most people. There is no guarantee that any information provided is accurate and, may in fact, be wrong. It is understood that the participants in TheOptionClub have varying backgrounds and degrees of experience in option trading, and that regardless of experience each member is considered a student. As such, any information distributed through TheOptionClub should be considered with a critical mind and not relied upon as an authoritative source.
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