20: How I Negotiated A 17% Reduction In My Trading Commissions

The Option Alpha Podcast

Kirk Du Plessis

Education, Options Trading, Trading, Investing, Stock Market, Business, Finance

4.8 • 1.2K Ratings

🗓️ 17 February 2015

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In this session of The Option Alpha Podcast we'll have an in-depth talk about trading commissions and broker fees. Specifically, people always ask me about commission and with more members now than ever it’s becoming more and more important to negotiate great commission rates. So I'm here to help you save money by getting your trading commissions reduced. And I give nearly the same answer to everyone each time they ask but there's a special twist on how I did it and why it dropped my rate by ...

Transcript

Click on a timestamp to play from that location

0:00.0	You're listening to the Option Alpha Podcast from Option Alpha.com where we show you how to
0:06.2	make smarter trades learn how the stock market really works and generate consistent
0:10.8	monthly income. Now your host and head trader at
0:15.0	option alpha.com Kirk depluses.
0:18.0	Everyone this is Kirk here again from option alpha.com
0:22.0	working every single week to make this the most popular
0:24.9	investing podcast offered in iTunes and online because it's based on one thing and one thing
0:30.5	only and that's helping you make smarter trades.
0:33.6	So thanks so much for tuning in today.
0:35.4	I've got a really cool episode today just talking about how you can reduce your broker
0:40.3	commissions and we're going to walk through this step by step because there's a logical
0:43.6	process to how you go about it and we're going to show you how we were able to do this and reduce our
0:48.6	trading costs by 17% kind of going through this process.
0:52.6	So here's what we're going to cover today.
0:54.6	We're going to talk about the differences between per contract fees and per trade fees.
0:59.6	Why I contacted my broker each year around the same time to negotiate my commission rate, why brokers
1:05.3	know it's 100% cheaper to keep you as a current customer, the one stupid simple question that
1:11.4	I asked that nobody ever does and why the key is not the question
1:16.5	you ask but how you preference it and how you go about asking that question with some statistics in front of that question
1:23.7	that make the broker aware of your knowledge with regard to what you're paying
1:28.4	in trading costs and commissions. So let's start out by going through the differences between per contract fees and
1:35.5	per trade fees. So as a trader we know that we're trading sometimes multiple
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Kirk Du Plessis, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Kirk Du Plessis and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.