How does Scottrade compare? (my current broker)
2006-10-23 04:24:49 · 2 answers · asked by Yardbird 5 in Business & Finance ➔ Investing
You asked two distinct questions. Cheapest I believe is interactive brokers which costs as low as 50 cents per options contract ($1 minimum per transaction).
One of the best is Think or Swim. They have some of the best options analytic tools in the business and they are still only about 1.50 per contract(with a small monthly surcharge) if you are trading frequently and only 2.95 per contract otherwise.
2006-10-23 05:49:45 · answer #1 · answered by actsofforex 1 · 1⤊ 0⤋
Yardbird, there are a lot of good brokererages depending on what you like and how you trade.
Barron's has a great article on brokerages that they publish each year. (I'll try to find you the link)
For basic stuff, E*Trade, Ameritrade, and Scottrade are sufficient. For more complex trades, I'd recommend Optionsxpress, ThinkorSwim, or interactivebrokers.
Based on what you put in your question, I'd recommend one of the first three, but all are very good. Cheapest probably is scottrade (of the larger online firms).
Brokerages like Fidelity are horrible for anyone with any decent experience.
So, decide what's important to you as a trader and compare the brokers! You can use the article, or go to each website as they all seem to have comparison charts!
And if there are particular things that you want to mention as being most important to you (such as executions, cust svc, cheapest trade - which you mentioned, flexibility on allowing you to do certain types of trades, stop and stop limit orders, contingent orders, great graphing, what if scenarios, training, etc), I'll be glad to help discuss this with you too!
If you have any questions, let me know.
Hope that helps!
2006-10-23 04:45:57 · answer #2 · answered by Yada Yada Yada 7 · 1⤊ 0⤋