Brokers and commissions

[izzo70]

On 1/6/2018 at 10:42 PM, Antoxa said:

Thank you, @izzo70. 

As I can see they charge 1.25 for Canada. But is it for all trades in Canadian account? Or is it for options traded on Canadian exchange only?

The commission structure has to do with where the product is traded and not your physical location. Kim uses IB and as far as i know, lives in Canada!  I doubt he would pay 1.25 per contract, but not 100% sure. 

Edited January 8, 2018 by izzo70

[Kim]

For US options it is 0.70/contract.

[Antoxa]

6 minutes ago, Kim said:

For US options it is 0.70/contract.

Good to know! TIme to move I suppose.

[urfiend]

It seems to me that tradier is now accepting non us customers? Is the steadyoptions offer still valid and do any of you use the 40 $ flatrate?

SBatch mentioned he is using a different platform for tradier. 

How do the platforms differ and to what benefit.

I still do not like the IB Interface and love TOS and Tradestation‘s Optionspro.

With that in mind what platform would you recommend?

Thanks

[SBatch]

43 minutes ago, urfiend said:

It seems to me that tradier is now accepting non us customers? Is the steadyoptions offer still valid and do any of you use the 40 $ flatrate?

SBatch mentioned he is using a different platform for tradier. 

How do the platforms differ and to what benefit.

I still do not like the IB Interface and love TOS and Tradestation‘s Optionspro.

With that in mind what platform would you recommend?

Thanks

TradeHawk is the most robust options trading software available for integration with Tradier.  Please review the Tradier thread for more discussion on their offering:

 

[izzo70]

@Antoxa You would definitely want to take a look at Tradier Brokerage as well if in fact, as urfiend stated above, they are are now accepting non-US clients?  With their $40 flate rate per month, think of how much you could save!!!  Your CSX trade alone will cost you $125 round trip.  That would cover 3 months of commissions with them! 

[Darcy MacDonald]

1 hour ago, urfiend said:

It seems to me that tradier is now accepting non us customers?

Are you sure?  Their application form still says you must be a US permanent resident.

[Stanislav]

20 minutes ago, Darcy MacDonald said:

Are you sure?  Their application form still says you must be a US permanent resident.

They do accept Intenational Accounts, as they were half a year ago. But you need to talk to their support for that.

[Antoxa]

3 hours ago, izzo70 said:

@Antoxa You would definitely want to take a look at Tradier Brokerage as well if in fact, as urfiend stated above, they are are now accepting non-US clients?  With their $40 flate rate per month, think of how much you could save!!!  Your CSX trade alone will cost you $125 round trip.  That would cover 3 months of commissions with them! 

The CSX trade is exactly the reason I started to think about commissions  

I never traded more then 10 contracts before, so commissions were more or less tolerable

[krisbee]

is IB Key working? 

It just says Loading.... I cannot login in TWS.

Anyone experiencing the same issue? 1/912018 9:51AM Eastern time.

[IgorK]

Just now, krisbee said:

is IB Key working? 

It just says Loading.... I cannot login in TWS.

Anyone experiencing the same issue? 1/912018 9:51AM Eastern time.

I legged in around 9:15 EST.  It took some time. 

[Djtux]

1 minute ago, krisbee said:

is IB Key working? 

It just says Loading.... I cannot login in TWS.

Anyone experiencing the same issue? 1/912018 9:51AM Eastern time.

I'm logged in TWS  but i used IB Key earlier this morning (probably around 8 AM Eastern).

I just tested to connect to the website (account management) and IB key worked.

[krisbee]

2 minutes ago, krisbee said:

is IB Key working? 

It just says Loading.... I cannot login in TWS.

Anyone experiencing the same issue? 1/912018 9:51AM Eastern time.

@Kim I'm not able to login in TWS. I have IB Key security enabled, which asks my fingerprint everytime i login.

What do you suggest here? call customer support? Not sure if someone experience the same. (Pathetic situation where I want to get profits and couldn't from EBAY and TLT)

[IgorK]

1 minute ago, krisbee said:

@Kim I'm not able to login in TWS. I have IB Key security enabled, which asks my fingerprint everytime i login.

What do you suggest here? call customer support? Not sure if someone experience the same. (Pathetic situation where I want to get profits and couldn't from EBAY and TLT)

Did you reboot your phone?

[krisbee]

Just now, IgorK said:

Did you reboot your phone?

Need to do that now. In conf call  

[krisbee]

Thank you! Restarting iphone worked !! I'm able to login now. (and missed EBAY   )

[Djtux]

2 minutes ago, krisbee said:

Thank you! Restarting iphone worked !! I'm able to login now. (and missed EBAY   )

Glad it worked.

[IgorK]

3 minutes ago, krisbee said:

Thank you! Restarting iphone worked !! I'm able to login now. (and missed EBAY   )

Glad it worked. Sad about EBAY.. Reboot is the first thing we should do

[Stanislav]

6 minutes ago, krisbee said:

Thank you! Restarting iphone worked !! I'm able to login now. (and missed EBAY   )

By the way, do you know you can configure IB so you only need IB Key to login to account management? And for trading access you only enter login/password in TWS.

[krisbee]

1 minute ago, Stanislav said:

By the way, do you know you can configure IB so you only need IB Key to login to account management? And for trading access you only enter login/password in TWS.

Yes, accessing app, it uses IB Key (fingerID to login). When I use TWS, I need to enter login id, password & the 2 factor authentication is IB Key finger ID (or passcode)

[cuegis]

33 minutes ago, krisbee said:

is IB Key working? 

It just says Loading.... I cannot login in TWS.

Anyone experiencing the same issue? 1/912018 9:51AM Eastern time.

I still use the 2 number code instead, because I always had problems with the IB key.

[krisbee]

Just now, cuegis said:

I still use the 2 number code instead, because I always had problems with the IB key.

I never had this issue before. It was convenient to just keep the thumb to login. I'm not sure how many use 2 factor authentication to login in TWS. 

[Christof+]

10 minutes ago, Stanislav said:

By the way, do you know you can configure IB so you only need IB Key to login to account management? And for trading access you only enter login/password in TWS.

How exactly do you do that?

[Stanislav]

18 minutes ago, Christof+ said:

How exactly do you do that?

It is called Partial SLS Opt Out. Go to Manage Account / Security / Secure Login System / SLS Opt Out. And do a Partial Opt Out for your account.

For me, IB Key is too unreliable to use it for trading access.

[cuegis]

4 minutes ago, Stanislav said:

It is called Partial SLS Opt Out. Go to Manage Account / Security / Secure Login System / SLS Opt Out. And do a Partial Opt Out for your account.

For me, IB Key is too unreliable to use it for trading access.

I agree. If you happen to run into a problem with your smart phone one day, you are screwed.

I decided, that I feel more secure, even with the minimal, extra effort, of reading the 2 numbers off the card

[greenspan76]

I used to use IB Key until I lost my phone and couldn't get into TWS. Had to call and get them to switch back to the physical security card, which was more of an annoyance than a huge deal since I knew exactly where I kept the old card, but the bigger deal for me was the realization that any phone issues would cripple my trading and at that point, I didn't carry my card when I traveled, so it could have been a huge problem for me.

Edited January 9, 2018 by greenspan76

[Djtux]

22 minutes ago, Stanislav said:

It is called Partial SLS Opt Out. Go to Manage Account / Security / Secure Login System / SLS Opt Out. And do a Partial Opt Out for your account.

For me, IB Key is too unreliable to use it for trading access.

Does this apply to a partial opt out ?

Quote

Moreover, account owners who elect not to participate are required to execute an opt out agreement through which full responsibility for losses associated with theft or misuse of login information is assumed.

https://www.interactivebrokers.com/en/software/am/am/manageaccount/sls_opt_out.htm

[Christof+]

This is an important topic. And a gentle reminder to have a good plan and a fallback ready for the case that something goes wrong technically... This might also include provisions for a real emergency: have a family member or a trustworthy friend instructed about how to access your account and close out your positions in case you are not able to react - for what reason it ever may be.

[Stanislav]

21 minutes ago, Djtux said:

Does this apply to a partial opt out ?

https://www.interactivebrokers.com/en/software/am/am/manageaccount/sls_opt_out.htm

I believe yes, to opt out you have to sign some document stating you are responsible for <blah-blah-blah>.

[Maji]

Is anyone here trading on Robinhood? If yes, how are the fills you are getting compared to your previous brokers?

Thank you.

[anand331]

@Maji I opened an account at Robinhood but from what I can tell their options trading capability is yet to be rolled out. It supports only stock trading right now and that also only on mobile platform. You should register your interest to be notified when the options trading is made available.

[Maji]

@anand331 Thank you for the heads up!!

[Djtux]

16 minutes ago, anand331 said:

@Maji I opened an account at Robinhood but from what I can tell their options trading capability is yet to be rolled out. It supports only stock trading right now and that also only on mobile platform. You should register your interest to be notified when the options trading is made available.

I already use Robinhood for a small account to "gamble" with stocks. It's separate from my "serious" account.

From the rumors i read they might deploy the web interface later in January and with the option support later in the year

[Maji]

@Djtux Thank you.

[cuegis]

I'm trying to find a thread that can help with a question I have.

It concerns Interactive Brokers trading platform.

None of the threads, that have IB involved, is exactly the right subject so, since this deals with IB in some way, I'll ask it here.

It is about the TWS "Risk Navigator".

For those of you who use it, I just wanted to know if you feel that it is representing your position somewhat accurately?

For example , a very simple position.

Let's take a position that most people here are familiar with.

A $5.00 wide TLT butterfly, which is currently right ATM.

There is a column for each greek.

With a trade like that, you really are mostly interested in the daily theta number (or a change in delta, if the market moves).

I have been using this tool for many years.

But, lately I have been finding that , on an ATM Iron Fly, with a daily theta number that is given, even when the market has not moved at all, and remains exactly ATM, you would expect that position to gain  (lose some value), as each day passes.

The only things I can think of , that would prevent that from happening, is either a move away from ATM, in price (which is not happening), or, the only other thing would be a rise in vega. Also, another thing which has not happened.

I gave the TLT as an example, because everyone is familiar with it.

But, I am talking about another, identical position, which most people probably would not be familiar with (Gold, and Crude futures options).

But, it dosn't matter...options are options, and if you are short an Iron fly that remains ATM, and IV dosn't change, then you would expect some decay of the position everyday.

I just wanted to know , for those that use this tool, do you feel that you can rely on it, for a generally accurate picture of your position?

[IgorK]

Guys in Canada, how are you getting Tax forms from IB?  I went to the Account Management/Reports/tax and there is now forms yet...

Edited January 24, 2018 by IgorK

[Paul]

4 hours ago, IgorK said:

Guys in Canada, how are you getting Tax forms from IB?  I went to the Account Management/Reports/tax and there is now forms yet...

Tax forms aren't ready in Canada yet either.  It is a bit early.  When they are ready they are downloaded from the site.  Taxes aren't due up here till April 30.

[skydragon]

Hopefully this is a proper place to post this.   Just had some strangeness with a trade (NVDA, but I don't think that matters) on Tastyworks.  Their spread was in the ballpark of 7.15 / 7.25.   While considering my opening bid I checked around on Schwab and TDA, who both showed spreads around 6.45 / 6.55.  I placed the trade on Tastyworks at 6.50, and it was filled immediately.  TW is still showing the much higher spread limits, and is showing my position as having instantly gained 10% (understandably).  Pretty weird.  I'd say it pays to double check TW's quotes before pulling the trigger.   

[Yowster]

I noticed that a lot of my IB fills have had lower commissions recently, so I did a quick calculation:

• In 2017 all my hedged straddle opening trades averaged 0.76 per contract (closing trades tend to be cheaper on average due to lower commissions buying back cheap shorts).
• So far in 2018 my hedged straddle opening trades averaged 0.68 per contract.

Don't know what is behind this, just glad its working in my favor.   Anybody else seeing similar?

[Bull3t007]

14 minutes ago, Yowster said:

I noticed that a lot of my IB fills have had lower commissions recently, so I did a quick calculation:

• In 2017 all my hedged straddle opening trades averaged 0.76 per contract (closing trades tend to be cheaper on average due to lower commissions buying back cheap shorts).
• So far in 2018 my hedged straddle opening trades averaged 0.68 per contract.

Don't know what is behind this, just glad its working in my favor.   Anybody else seeing similar?

I had lower commission for a while but now it's back to normal. Maybe we get some commission in return because we make the spreads tighter since volatility returned? Do not quote me on that one.

 

 

[oma123777]

Hello, I just joined today. I have a question about Tradier. Do we pay $40 a month To Tradier for the unlimited trades commissions and also pay for another Option platform

as well as paying Tradier or do you trade directly through Tradier? Tradiers platform really isn't one, no info?

Thanks,

Mike 

[Kim]

Take a look:

https://steadyoptions.com/forums/forum/topic/3318-tradier-brokerage-special-offer/

[Ram]

I am new to trading options and confused between IB and Tradiers.  What would you suggest?

[Sonu]

I would suggest TastyWorks platform. IB platform looks age old platform. I opened account & now in process of closing it. If you have day job then Tastyworks is the best platform in terms of good platform, great customer service.

[Kim]

I would not dismiss IB so easily. Yes, their customer service sucks, but I do like the platform, commissions and execution are great, and it is very stable. I cannot remember last time it crashed. Even in flash crash most platforms crashed, but IB was stable.

[Noah Katz]

And I don't see how anyone can ignore the vastly less flat-rate commissions of Tradier

[Ram]

Do Tradier have a android app and is it usable? Can we do multi-leg trades using the app?

[Noah Katz]

I don't know, I don't do trades from my phone.

[cuegis]

You get what you pay for.

As for IB customer service. I have been with them over 20 years, and particularly the past few months, I have found it to have taken a huge leap for the better.

I personally find it (customer service) very fast, and excellent.

As for everything else...it pretty much speaks for itself.

Edited March 11, 2018 by cuegis

[Noah Katz]

9 minutes ago, cuegis said:

You get what you pay for.

 

If you're implying that you don't get CS w/Tradier, you're mistaken - it's excellent.