10 July, 2013
Manhattan Beach Trading Financial Services, Inc. and MB Trading FX (collectively referred to as “MB Trading”), a technology-driven, low-commission brokerage specializing in order routing in Forex, Equities, Futures, and Options through various global exchanges and electronic networks, announced a new tiered options commission plan for all retail customers. Options trades are now available for as little as $0.15 per contract based on the number of contracts per trade.
“MB Trading has always been about balancing a combination of low costs, great technology, and hands-on customer service,” explains Ross Ditlove, CEO of MB Trading. “Today, we can definitively say that we are making a major leap in the cost variable of that equation. This is a major adjustment in options fees and an exciting benefit to all of our clients.”
Previously, MB Trading charged $0.95 per contract with a $1 minimum per trade. Starting today, customers will see a four-tiered options commission schedule (excluding regulatory fees), based on the number of contracts executed per trade. Customers trading 1-10 contracts will continue to receive the $0.95 rate, now with no minimum charge. However, the other three tiers are charged the following:
11-100 contracts $0.60 per contract
101-250 contracts $0.35 per contract
Over 251 contracts $0.15 per contract
“Options are an important market to our business model,” continues Ditlove. “The MBT team is currently Beta testing a new advanced options order UI for our web-based platform that we feel strikes a solid balance between ease of use, customizable display, and order placement. This change in commission structure reflects our confidence that this new platform coupled with these significantly reduced fees will cause options traders to view MB Trading in a new light.”