New brokerage from the ThinkorSwim guy is low-price leader!

Tom Sosnoff and company have just launched (in January) TastyWorks, a new brokerage currently allowing options and stock trades, with API trading and futures coming soon.

The commission structure just knocks the stuffing out of the industry:

• $1 per option contract (plus 10 cents clearing fee)
• $5 per stock trade (plus $0.0008 per share clearing fee)
• $2.50 per futures contract (plus 30 cents per contract clearing fee)

And the kicker is: these are trade opening prices only; closing any trade is commission-free.

The API is supposed to be REST-type, so should be usable with any programming language. And if they publish the specs in the open, this should take a big bite out of Interactive Brokers within a short time.

Good luck, TastyWorks; I'm rooting for you!