OptionsXPress, a wholly-owned subsidiary of Charles Schwab (SCHW), announced recently that it has replaced its tiered commission structure for futures and futures options with new pricing of $3.50 per contract. Schwab acquired optionsXPress two years ago, and it seems that Schwab is putting even more focus on this area of the market this year. Futures trading is becoming more popular with traders who have previously stayed out of that space.
“We’ve seen demand for trading futures and futures options steadily increase as our clients seek more trading opportunities,” said Dan O’Neil, Vice President of futures for optionsXPress. He continued, “By reducing commissions on futures and futures options and introducing a new, simplified pricing structure, we’re putting our clients first and making these products even more affordable for those who want to incorporate futures into their trading strategies.”
In conjunction with the new pricing structure at optionsXPress, Charles Schwab has launched a new Futures Hub on Schwab.com. The Futures Hub will link directly to futures trading at optionsXPress. The new hub will include data from the CME Group with quotes that will update every 30 seconds. Clients will be able to access futures charts customizable by time horizon. Trade support from futures specialists at optionsXPress is also available.
For more information on the discounting futures trading or the new Futures Hub click here for the full press release.