4 ms·
I never understand why people are _so_ desperate to save a few bucks when risking their life savings versus using a professional tool if they desire to trade op
by high_derivative 6y ago
I never understand why people are _so_ desperate to save a few bucks when risking their life savings versus using a professional tool if they desire to trade options (say, interactive brokers).
You save fees and then get screwed when Robinhood is down on expiration day.
- Sohcahtoa82 6y agoFor someone like me who's only tossing $2,000 into stocks to play around with, having zero fees is the #1 selling point, otherwise, the fees add up to a significant fraction.
- alexbanks 6y agoI was speaking less about options trading and more about general adoption. I've never done options trading, just small-ish buys and sells. My experience with e-trade was a flat 10 dollar txn fee, which was totally unreasonable for the amount of money I was investing.
- toast0 6y agoIf you're trading in small amounts, the comissions add up pretty quickly, a $10 comission on a $1000 purchase of stock ends up being 2% of the price, considering you have to pay to buy and to sell. That's way better than a $30 comission from the before times, but it's still big. That said, we can all thank RobinHood for driving comissions down to zero, and then do business at brokerages that work. I personally wouldn't trade at IB, because I only do a tiny amount of trading, and don't want to go into the rabbit hole of individually routing my orders; it's great that it's available, but I don't need that, nor do I want an API or stuff.