Looking for new Stock Brokerage Firm.  I'm trying to find one that
charges a flat rate per month, per year, or a flat % of account value
yearly no matter how many trades you do.  I only do Option
trades...Puts and Calls...most firms charge $l to $2 per contract so
if you trade l000 contracts in one trade, it costs you one thousand to
two thousand dollars per trade...this is ridiculous...so, I'm looking
for a flat rate broker on options.  Big tip if you find one.

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Clarification of Question by 211563-ga on 20 Aug 2003 05:55 PDT

I went back to my current brokers and to keep my business, they
reduced my commission by 75%....

Morgan Stanley min account start up $50,000.  Minium charge is $1,000
a year which is 2% of the $50,000.  However, they can go as low as 1%
on higher dollar amounts.

Does this allow me unlimited trades on options for the 2% or less?

I located a firm called Legg Mason that will charge l.85% of my
account balance for two hundred trades a year with unlimited contracts
per trade.  However, while much better than what I've got, I will
still have3 to pay them some $40,000 per year....please keep
tryingh...Mabey Merrill Lynch, or someone might do it.

On an account that size Morgan Stanley offers what you're looking for.
 Unlimited option contracts and trades for 1% of the account value.

You won't believe this.....I called the Morgan Stanley Office in
Atlanta.  They put me thru to a guy they said was a specialist in
options...a veteran...a good man.  Here's what he said.....Well, Mr.
Murray...I talked to my partner and we decided that considering the
money you make trading, we would only get about Thirty Thousand a year
in fees and it's just not worth it to us.  I said, well sir, I need no
advise, I need no hand holding, I'll make all the decisions on what
and when to buy or sell, I'll put up all the money, no margin, and
I'll take all the risk.  You on the other hand will spend total of
mabey l2 hours a year placing my orders and $30,000 is not enough
compared to what I'm making.  That's right, he said.  While I am
rather well to do now at age 55, I have gotten down on my knees and
scrubbed toilets for two dollars an hour to be able to buy a sandwich
for supper.  Morgan Stanley can kiss my ass.  Keep trying please and I
do appreciate your efforts.
By the way, he quoted me l l/2 per cent and a maximum of 300 trades.

Well, here we go again...Merrill Lynch talks to me like they are doing
me a favor to take my money and churn it into nothing but commissions
for the stock brokers at their firm.  We all know the best way to
catch a dog is to run away from him but these dudes have it down to a
science.  They interviewed me like I WAS APPlying for a job or
something.  Well, never give up.  Here comes OptionsXpress.  Some
people I respect tell me they are very good at big hitters in options
business.  We'll see.