Depending on your trading strategy, there are many factors that go into choosing an online broker. One of the first variables most people look at is commissions. How much does it cost to execute your type of trade? Of course it is important that your comfortable with your brokers platform and the features they offer. Often times the brokerage with the cheapest commissions are not the best for your trading needs. Depending on the type of trader you are, commissions have a different weight on your decision. They are particularly important for active traders and especially for option traders that trade multi-leg options. The commissions on multi-leg options can vary greatly amongst brokerage sites and can get quiet expensive. One thing that most people don't realize though, is that commission prices can be negotiated. Here is the simple action everyone should take to do so.After you establish yourself as a loyal client and establish a track record, contact customer supports and ask who to get in contact with regarding commissions. Usually they will give you the email address of a person or department to contact. In a very simple email note that you enjoy the brokerage and would love to be a long time customer but was hoping to get a better rate on trade commissions (or something along these lines). Brokerages do not want to lose customers and will usually bump down the price rather than give a competitor a new customer. In the eyes of the brokerage they would rather keep less than lose it all. What do you have to lose by asking? In most cases, this simple act should end up keeping more of your winnings in your pocket.
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