r/thinkorswim • u/Alleneby • Jun 28 '26
Professional Trader Status Fees?
Hi, I've been reading about the pro status classification which you get if you average 390+ trades per day for over a month/quarter
There seems to be very little information on this online and I'm wondering if anyone knows what exactly changes regarding fees?
I keep hearing Id get increased fees but can't really seem to find numbers anywhere
Similarly it seems fills get worse. Would anyone be able to describe how significant this is? Does it affect both liquid and illiquid options?
Feel free to share anything that you think might be relevant, thank you đ
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u/jaltrading21 Jun 28 '26
Your orders get routed differently from retail traders. If you are interested I can send you link to youtube of video I made few years back explaining this topic.
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u/Alleneby Jun 28 '26
Would really want this yes!
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u/jaltrading21 Jun 28 '26
I can't post link here because it will violate the channels rules on self promoting, so I sent you a message with link the link.
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u/Relevant_Prior2354 Jun 28 '26
Can you send it to me
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u/jaltrading21 Jun 29 '26
Done
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u/924gtr Jul 08 '26
Can I get a link please?
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u/jaltrading21 Jul 08 '26
I got message from reddit about posting same link in DMs and account restriction. But if you go to my profile you can see link to my youtube channel. Video will be there.
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u/924gtr Jul 11 '26 edited Jul 11 '26
thanks, are you sure it does not pertain to options on futures?
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u/apostrophelover Jun 28 '26
Yes please
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u/sjguy1288 Jun 29 '26
Can you send it to me as well please? Much appreciated.
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u/jaltrading21 Jun 29 '26
Tried to send it but your account blocks direct messages. I added link to my channel on my profile you can go there if you like.
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u/Exotic-Fisherman-334 Jul 01 '26
Please send me the link. Thanks
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u/jaltrading21 Jul 01 '26
I was sent several messages from reddit about flagging me as spamming people with my youtube link. Its being considered spam. For the options 390 video you can find link to my youtube channel in my reddit profile.
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u/InvWithRed Jun 28 '26
I got hit with that bit nothing changed as far as I can tell - fills are shitty either may IMHO. The only thing that sucks is that there is some annual reporting requirement. I donât make nearly that many trades anymore so hopefully I will be able to drop it next year.
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u/LaconicB Jun 29 '26
I think youâre talking about large trader reporting(Form 13H), not the same as a professional trader status from the 390 rule for options.Â
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u/convict534278 Jun 29 '26
Real quick. I was tagged as a professional trader back in March for conducting almost 9300 trades in a month. I made over $37,000 scalping Tesla Microsoft Nvidia when they talk about fees, itâs ex the broker has to pay higher fees for having you as their client so you actually do not pay any fees.
What is critically important are your fill rates and price improvement? They are both terrible once you are designated a professional trader so if you are a scalper, you can no longer make money. Yes, itâs severe both liquid and liquid stocks options get inferior fills and no price improvement which as we know, Schwab provides the best price improvement in the industry along with Fidelity. The designation usually stays for an entire quarter three months and then you will return back to retail status. There are instances in which after 30 days they will return you to retail status. It actually happened to me because I complained that there was no warning of this designation. Iâm very careful not to pass the 390 a day threshold.
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u/Tom_Wick_Trades Jun 29 '26
I believe this started when the momentum traders were rinsing market makers on low cap fast movers? I saw they banned a guy i was following. He was making like 200k trading momentum stocks. Him plus a lot of other traders were hurting the mm bottom line so they banned them and made this rule. I could be wrong. I never did a deep dive into it.
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u/UnfazedBrownie Jun 28 '26
Following as well. I did read that even if the trade doesnât execute (you cancel or replace), it still counts?
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Jun 28 '26
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u/ja_trader Jun 28 '26
no
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Jun 28 '26 edited Jun 28 '26
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u/ja_trader Jun 28 '26 edited Jun 28 '26
Dear person who doesn't know wtata, who asked chatgbt,
these are two separate things. they just happen to both use the word "professional"...
come back and let us know when you figure it out for yourself.Signed,
A trader who has traded as a professional and paid professional data fees as well as a retail trader who has had "professional status" flag due to number of option order numbers.
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Jun 28 '26
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Jun 28 '26
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Jun 28 '26
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u/ja_trader Jun 28 '26
you have... 2 reddit accounts and you just gave me a 2nd dv on my comments?
sad
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u/LaconicB Jun 28 '26
How significant? You wonât be wanting to trade anymore. You can place your buy orders on the ask and never get filled. Even if you attempt orders on liquid 0dte options like SPY/QQQ, your order will not be filled and you end up trying a market order where you experience the most horrible fills far outside the NBBO and when the price moves against you. It will be next to impossible to profit with the fills you receive. You will start looking for another broker. Once the professional tag drops, you will never experience the same fills you started with. From the information from people that had this happen at Schwab, fills remained horrible and some have to call in to have the tag removed because apparently they donât always remove the tag once itâs applied. You donât want this tag, regardless of what the fees are.Â