DeGiro “lowers” fees
Last month Euronext announced to cut fees for option trading for retail investors. In order to match TOM’s transaction fees, the fee was lowered from 40 cents to 31 cent per option. The question is always whether or not the brokers lower the fees to the investors, or are happy to keep the extra profit margin in their pocket.
DeGiro, always keen to capture free publicity with empty promises (Alibaba IPO), announced they would follow suit (link, nl). A drastic cut in the transaction costs, the more you trade the lower the fees. A new low transaction feee of 50 cents per option for the most active traders. Sounds great. This sunday they released their new fee schedule. See below.
Seriously. Other brokers are a lot more expensive, DeGiro doesn’t have an incentive to lower fees. But this new fee schedule is embarrassing. DeGiro seems to have lost touch with reality.
Everyone even getting close to the 10.000 option contracts threshold per month should leave DeGiro and switch to a professional firm (say, Better Options). Suggesting retail investors spending EUR 50k per month on option trading fees. What a joke.
Wonder what their volume on Euronext option market is, all DeGiro clients combined. Can’t be much more than 60k a month..
second, haven’t you learned to cut through the ‘marketing bs’
There is a limit on how much marketing bullshit one can tolerate..
Lynx has lowered his fee after the announcement from Euronext.
Well-done. 🙂
IB is probably the cheapest retail broker in the world and their price for an AEX index option is 1.5€. So i assume this must be the bottem.
define the ‘limit on how much marketing bullshit one can tolerate’
could anyone give me an alternative to IB or De Giro if you are too little for the big guys and to “big” for settling with the service of those two?
I mean IB is a great retail broker but if you start to get serious you hit limitations with them pretty quickly but the big “prime” brokers ask 30k in fees p.a. so what do you do if you just have less of that?
Better Options or Gets
I assume you mean
http://www.getsbv.nl and
http://www.betteroptionsllp.nl?
Thanks so much!
somebody now thinks this blog ain’t completely useless
There is also Exante, don’t know how professional they are but rates can be negotiated. No experience though if they are any good. Software is also not comparable to TWS from IB or other more mature products.
Oooohhh wat een mooie foto’s van BP5 op de website van getsbv!
daar wil ik bijhoren!!
Oooohhh what a beautiful photos of BP5 on the website of getsbv!
I want to belong !!
can we call him g@y or is the censor police still around?
“I mean IB is a great retail broker but if you start to get serious you hit limitations with them pretty quickly but the big “prime” brokers ask 30k in fees p.a. so what do you do if you just have less of that?”
What limitations? They have a good sliding scale, great execution and better financing. If you’re worried at 30K in annual fees, I doubt you’ll find better.
10,000 * EUR 0.85 = EUR 8.500
not 50k…
50k per month is for the new lowest rate I assume. 60.000 contracts is when lowest rate starts. Previously 60.000 * 0.85 = EUR 51.000
you are still discussing marketing gimmicks?
How are folks at Source Capital doing? Did the mood improve in the last quarter?
how about you keep your eyes open?
http://www.amsterdamtrader.com/2014/10/liquidity-providers-on-euronext.html#comment-22200
here some more literature about the topic:
http://www.amsterdamtrader.com/2013/10/more-weekly-options.html#comment-18352
http://www.amsterdamtrader.com/2013/10/more-weekly-options.html#comment-18356
he wasn’t asking about the mood from last year
‘How are folks at Source Capital doing? Did the mood improve in the last quarter?’
how about you keep your eyes open too?
It´s a shame the comments are closed under last year´s post on Hilgers.
It looks like he isn´t getting along too well with the Amsterdam management with both Hans Pieterse and Edwin (Joop) van der Kruk ffing off according to FOW (see http://www.fow.com/3401484/Optiver-seeks-European-chief-structure-head.html)
The Sydney office seems to be taking over with the head of IT opps in Amsterdam being somebody who came through the Sydney office as well.
wasn’t hans european chief, he wouldn’t stay for long once he is demoted to market structure?
hilgers would need to consolidate at top to push out dissenters and secure his hold on the firm?
hilgers has made his big mistake, firing Van der Kruk a bad move. the man is a genius and will probably now build Joop corp and takeover the world
mm doesn’t require a lot of genius?
what is this joop corp all about?
Edwin Van der kruk may not be missed. But Hans truly is inspiring CEO material.
The silly thing is that Optiver’s kinda flushed their whole management in less than five years. Edwin van de Ven: gone. Randal Meijer: gone. Jelle Elzinga: gone. Hans Pieterse: gone. Joop van der Kruk: gone.
It seems that they’ve brought the whole management team down to three people… That’s efficient!
what’s wrong being efficient?
joop is an idiot and morally abject. The other ones were quite good, or at least had integrity.
joop ma homme
what did he do idiotic and morally abject?
Joops rise to CEO status proves anyone can make it despite obvious lack of talent
JK will give anyone a shot at a role. Just look at the number of people they’ve had in management roles over the years. But, just like he’s easy at giving people a shot, he’ll ruthlessly ditch them if they don’t get a job done.
Anyone have any news on Rob K?
of course you can rise to be ceo without talent, all those companies going bankrupt don’t all have great ceos do they?
jk is a trader, of course he wouldn’t mind putting on a trade and hacking it if doesn’t work out, there’s no limitation on how many times this can be done? cost/benefit can be debated for this approach
nobody cares about rob or imc, next
Hans P was a great trader, great guy, great leader. Even after all he achieved he was never fully given the credit he deserved.
Joop was a decent enough trader but struggled as a communicator. For some reason he was very quickly earmarked for top management at Optiver, and like Hans was incredibly loyal. But imho he was alway a bit too “Dutch” for the global trading firm that optiver became.
hp was head of european office, what more credit do you want for him?
jk trusted joop and thus earmarked him for top mgmt at optiver?
define too ‘dutch’, wouldn’t that actually go in his favor with jk who you could call too ‘dutch’?
Riding an orange bicycle while wearing wooden shoes and carrying some tulips & gouda cheese. I guess this would be “too dutch”.
Hans P was the star in the 1997 rubble crisis.
By too “Dutch” I mean a bit of a potato head who speaks broken english and dribbles down his shirt when eating his broodje.
Yes jk is a bit “Dutch” but not too “Dutch” like Joopie
what did hp do during ’97 russian default?
define ‘potato head’?
is the define guy back in town?
define ‘town’
http://en.wikipedia.org/wiki/Town
happy now?
obsession with volatility aside, asset price forecasts anyone?
prices moves like random walk, therefore the best forecast is the last seen price. This is why high-frequency traders do not make money by forecasting price, by the way…
how did you conclude prices move like random walk, by the way…
these are probably not included in your stochastic calculus and high frequency text books
http://en.wikipedia.org/wiki/Keynesian_beauty_contest
http://www.businessinsider.com/full-text-of-george-soros-speech-2012-6
What’s happening to Degiro’s market neutral hedge fund (Hiq), down about 10% over the last month???
it’s market neutral only in the name?
someone asked about Rob K?
He seems to have found a nice balance:
http://www.vivcourt.com/we-believe/
i certainly think of changing the world and i have begun by first changing myself, fuck tolstoy and his ego
100% dividends to charity is nice marketing gimmick, but doesn’t amount to much if all the profits are put in bonus pool leaving nothing to charity, also what happens to rob k’s personal billion dollar fortune, has he signed the giving pledge?
how did rob conclude optiver is second best to viv court?
the whole concept of capitalism is based on capital owners and labour providers, thus by definition there would be separation between shareholders and employees, he should read more on the economic elements of capitalism
http://en.wikipedia.org/wiki/Capitalism
the problem with charity holding 100% economic stake is that there is no incentive for the management to generate any dividend for the charity and instead stuff all the profit in their own bonus pool or worse not generate any profit at all, seriously, people should fucking understand about capitalism before they start dribbling bs on their company’s website
oh wait, now i understand, where rk got his economic lessons, from a bloody monk, the ‘right work’ blah, may lord save all our souls with such ignorant muppets, rk would be a ‘senior trader’ in this company right, with 20 years of profitable experience, that’s certainly a good start
to top it all, look at rk’s ego, he is labelling ‘think different’ on his deluded view of capitalism, putting himself in the category of ‘Einstein’ and ‘Martin Luther King’, my god, people and their endless ego
but well, you know, atleast rk is trying something different, as long as he learns quickly from his initial mistakes and keep an open mind, he’ll learn soon enough to wash his sweet potatoes, then he can be the next ‘apple’, so how do i get a job at the company?