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Because of the high commissions for options trading I'm paying on interactive brokers an anon suggested yesterday I look into Robinhood. I said I would over the weekend and here we are.
My initial take on Robinhood is not good. Take an option with a bid of 3.40 and and ask of 3.50. Generally ikbr is going to give you 3.45 + about 0.1 commission. They may dick me some more also here with order flow but nothing like Robinhood. Commission on 60 options will be around $50 to $60. Robinhood with the same 3.40 / 3.50 bid / ask will execute the trade at 3.50 with no commission. So the cost difference here is 4 cents and for 60 options that is $240. I think this is a non starter for me, but if anyone has a different experience and can tell me that Robinhood will execute trades at mid point and not ask, then please do that.
>Pic related my broker eating my commissions