In what can only be considered a response to the ongoing pricing war, TradeStation (read our review) has officially revised their flat-rate trade commissions plan. Equity trades are now $5 and options trades are $5 + $.50 per contract.
Perhaps even more significant, the $99.95 “Minimum Activity Fee” that was previously charged if certain minimums were not met (for example, 5,000 shares traded) is now gone. Furthermore, basic real-time data is now included.
Previously, customers had to place at least 200 trades per month to reach the $4.99 per trade equity tier for the following month (base rate $9.99). Under the same discounted tier, options trades fell to $4.99 + $.20 per contract from the standard $9.99 + $0.70 per contract rate.
It is important to note that while the new pricing structure is effective immediately, current customers are NOT automatically transitioned over. Instead, they have to call in to have their rates adjusted. According to TradeStation, this is because heavily active options traders will want to remain grandfathered into the tiered structure to maintain the lower net per contract rate.
John Bartleman, President of TradeStation Group, commented,
This new $5 per-trade plan offers significant potential cost savings for equities and options traders who trade less frequently or in larger share sizes. We think that this new per-trade pricing plan, together with the availability of the per-share and unbundled plans, when combined with the power and value of the award-winning TradeStation platform, is an offering hard to beat in today’s online trading market for active traders and investors.
TradeStation was most recently named #1 for Trading Technology and the winner of the Broker Innovation award in the StockBrokers.com 2017 Review.
TradeStation Introduces Simplified Commission Pricing for Equities and Options Trades: $5 per Trade for Equities, $5 per Trade plus $0.50 per Contract for Options
March 7th, 2017