Hi all
I am going to be setting up an account soon, in the 6 figure range. It will be somewhat actively traded.
My question is, how does everyone deal with commissions when trading a lot? Are there are different programs to get involved with?
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Actively traded account dealing with commissions
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with an account in the 6 figure range, commissions is negligible.
Of course. But I still wanted to see what is out there.
scolio,
We appreciate the interest in bringing in funds, and yes: one low price across the board. Our commissions structure isn't set by trading frequency or account equity, and our competitive rates apply across all accounts. Stocks and ETF trading are a flat $4.95 a trade, regardless of share quantity, so long as the equity being traded is valued at $1 or higher per share. We add .01 per share to the base $4.95 trade rate for stocks under $1 per share. If that calculation ends up charging a commission greater than 5% of the principal cost of the trade (shares times price per share) we re-book the commission at a 5% capped rate.
Our options commission structure is set up to give a price break on trades with a higher quantity of contracts. Options trades are charged $4.95 per trade + .65 cents per contract, with only one base charge on multi-leg option trades. If you trade more than 8 contracts, we drop the price to $8.95 per trade + .15 per contract (you can see how the price is the same in both models through the first 8 contracts, and the ninth and any subsequent contracts are only .15).
Best regards,
Rocco Sabino
TradeKing
Trading and Customer Support
We appreciate the interest in bringing in funds, and yes: one low price across the board. Our commissions structure isn't set by trading frequency or account equity, and our competitive rates apply across all accounts. Stocks and ETF trading are a flat $4.95 a trade, regardless of share quantity, so long as the equity being traded is valued at $1 or higher per share. We add .01 per share to the base $4.95 trade rate for stocks under $1 per share. If that calculation ends up charging a commission greater than 5% of the principal cost of the trade (shares times price per share) we re-book the commission at a 5% capped rate.
Our options commission structure is set up to give a price break on trades with a higher quantity of contracts. Options trades are charged $4.95 per trade + .65 cents per contract, with only one base charge on multi-leg option trades. If you trade more than 8 contracts, we drop the price to $8.95 per trade + .15 per contract (you can see how the price is the same in both models through the first 8 contracts, and the ninth and any subsequent contracts are only .15).
Best regards,
Rocco Sabino
TradeKing
Trading and Customer Support
Displaying all 4 forum posts
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