TDAmeritrade advertises "now commission-free", but wants a "fee" instead :-)

Discussion in 'Options' started by thecoder, Nov 1, 2021.

  1. thecoder

    thecoder

    TDAmeritrade ad says for options "now commission-free", but wants instead a "fee" of $0.65 per contract :)
    So, effectively nothing has changed at all, isn't it? Isn't such an ad misleading?
    I wonder how much they charged prior this. Anybody know?

    TDA_misleading_ad_re_options_commission.png
     
    murray t turtle likes this.
  2. d08

    d08

    It's true for everything except options, how is that misleading?
     
    murray t turtle likes this.
  3. Trader Curt

    Trader Curt

    It used to be 7 dollars a trade. I see a huge difference
     
  4. thecoder

    thecoder

    How much did 15 contracts of the same stuff cost previously? Now this costs 15*0.65 = $9.75
     
  5. %%
    Sounds like an accurate ad;
    but i have not had time to read all the fine print. I like SCHW;
    but if ever one has to trade over the phone free comiss turns into huge fee...........................................................................................
     
    Tokenz likes this.
  6. LM3886

    LM3886

    Previously there was per-order commission on top of the pre-contract commission. Now the per-order commission is gone.
     
    murray t turtle likes this.
  7. nitrene

    nitrene

    It used to be $6.99 + $0.65/contract. Now its just $0.65/contract plus reg fee. Here is one from my account from yesterday:


    Date/Time [​IMG] Description Amount Commission [​IMG]Reg Fee [​IMG]
    11/10/2021 14:55:30 Sold 85 EWZ Nov 19 2021 33.0 Call @ 0.05 368.78 55.25 0.97
     
    murray t turtle and thecoder like this.
  8. %%
    Doesn't look like that ad is misleading;
    + its even listed in volume order\ options trades* are last on the list. The Kraft Maxwell House Coffee ad\portion size label, does look misleading+ the judge said the $16 million settlement = ''good to the last drop'' LOL:D:DGood coffee+ bad ad.