Hello Online Traders! History is being made!
TD Ameritrade announced on October 1st, 2019 a big change to their trading commissions rules.
These are the changes:
This change comes after Charles Schwab announced similar Trading commission changes:
Charles Schwab Changes:
These changes to the commission structure at these two companies, which are probably the biggest online trading sites in the USA, may have been brought about by competition from newer online trading sites like Robin hood and other no-fee stock brokerages.
This is very exciting because TD Ameritrade owns one of the best options trading platforms in the options trading business: Think or Swim.
This is a big change for Stock traders as all their trades are now free. But also a big change for Options Traders as well, as they were previously paying a price of $6.95 for each order and now pay 65 cents per contract.
This is very exciting because the other online trading sites which were free or cheaper had very inferior or unintuitive platforms, so now you have the opportunity to use the best platforms in the industry for Free or near Free.
If you are not currently using Think or Swim This is a good time to consider switching brokers if you trade options. Option Alpha has a very helpful article to assist you in making the switch. Take a look at this article for some helpful tips. This is very important because the Platform Think or Swim is legendary in Option community. And because one of the most important rules for profitable options trading is to trade small and trade often, to get the mathematical probabilities on your side. The removal of the per trade commission fees, means you can make small trades often and not pay large commission on each trade.
It鈥檚 a Bear Market, but Great Things are happening and there is a lot of development. Hmmm that鈥檚 a familiar theme ... 馃ぃ馃槄馃憠Link
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