Negotiating Brokerage Fees and Commissions

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Yes when brokerages did have trading fees if you had a non trivial account (don’t know the exact number maybe mid 6 figures) or you placed a lot of trades, most brokerages would give a discount especially if you asked. With Schwab when their standard commission was 4.99 just by asking I got mine cut to 1.99 . This is a moot point now because they pretty much dropped all commission


I have a trivial account size (5 figures) and still got a very large well known brokerage to match Tastyworks options pricing. All I did was ask, nicely. They said it wasn’t based on account size, but instead on trade frequency. They just wanted me to verify by sending them a Tasty statement. The whole thing was easy and friendly, and I kicked myself for not asking sooner. Edit: they matched the per-contract price, not the per-trade cap


FYI a discount is worth more than the equivalently sized bonus because the latter is taxable whereas the former isn’t


You must have been a super profitable customer (options trader) for them. I transferred hundreds of thousands of dollars worth of brokerage accounts several times and never heard from the brokerages I was leaving. But I mostly buy & hold individual stocks, so I don’t think I’m as profitable for those brokerages. Although with the amount of money I was transferring out I thought I’d get at least a call once. Nope. Never. Kinda scary though b/c it’s easy for a fraudster with access to my hacked information to initiate a transfer at a new brokerage, and my existing brokerage would never call me to verify.


Called TDA and asked nicely if they could lower my options contract pricing. They asked me a few questions including how many trades I do per month in my other account and what my net liquidating value if the other acct was