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I paper trader options on ThinkorSwim and I'm looking to open a real account, but I am confused about what fees I am going to incur. I can not open an account with TD Ameritrade since I am based in the UK, but I am looking for an international brokers since I trade options on NASDAQ stocks.
In regards to fees:
- Do I need to pay any monthly fees to brokers? Eg. to connect to exchanges or are these charged to me on-the-fly as my orders get sent to those exchanges?
- When choosing a broker should I be looking at any fees other than commissions?
- Could someone break down the fees I will be charged for a round trip options trade on a NASDAQ stock. Eg. exchange fee + base cost etc. so that I can accurately compare brokers.
Many thanks,
Ben
Can you help answer these questions from other members on NexusFi?
They vary quite a bit but I would just go to their websites. The fees are usually listed in the FAQs then email them and verify that the fees listed are all there are. When I started with one futures broker, they didn't mention the exchange fees and that threw me.
Thanks, yes that is what is confusing me. Do you pay monthly to connect to exchanges? Or do they charge you a few cents when your order goes to that exchange.
Additionally, what exchanges would I connect to to trade options on the NASDAQ.
Secondly on a different issue what data feed would I need to get NASDAQ stocks data, CME E-mini, NYMEX, COMEX the options confuse me, what do I need: to trade NASDAQ options and to get NASDAQ stock time chart data?
Perhaps someone could also post their typical round trip cost to trade NASDAQ options per contract.
