It's not Scottrade, IMO. I would like to hear only from those who have actually used the brokerage for things like spreads, straddles, condors, etc.
Please explain why you think it is the best? Is it order entry, cost, reputation, support, etc.?
2006-11-07 06:28:05 · 5 answers · asked by BizAnswers 3 in Business & Finance ➔ Investing
Had E*Trade once and would not go back.
2006-11-07 09:36:43 · update #1
No, it's not scottrade. And it's definitely not Fidelity either!
OptionsXpress, ThinkorSwim, or Interactivebrokers are probably the top three choices. Each has their pros/cons depending on what's important to you.
If it's just for trade execution, etc, then Optionxpress is very good. They also have some decent rates (email me). They also match up to internal orders as well when they can. Additionally, they have some interesting scanning tools that can help you apply advanced strategies such as ratio spreads, etc to a stock.
Interactivebrokers is probably the cheapest. It's software based and takes a while to get used to. They route most of their trades through themselves, so that's one reason they are cheaper. You'll have to look at how active you are to see what fits best for you. Of the three, IB has the least desirable search tools, etc.
TOS is relatively new. They have some amazing tools and are very hungry for business right now (again, email me and I can help you with this). They have some great routing tools and have scanners specific to spreads, etc.They also (currently) have some fantastic free training as well. Executions have been decent as well. And in the long run, your executions'll be the most important.
With TOS and OXPS, I've been able to call their trading desk and they've been able to help with orders and/or take orders when I've not been at a computer to do the trade as well.
So, decide what's important to you. You might also check out Barron's annual article on brokerages that comes out in the spring.
If you have any further questions, I'll be glad to assist where I can.
2006-11-09 04:36:44 · answer #1 · answered by Yada Yada Yada 7 · 1⤊ 0⤋
Check out E*Trade. Pricing is dependent upon assets/trades (6.99 to 12.99) + .75 per contract/leg. I like the way the option chains are displayed and it's easy to enter orders. Customer Service is good for Premium customers -- poor if you have to call the main line.
Two complaints:
1. The approval process for options trading was annoyingly slow
2. It seems to take a while for the system to reflect symbol changes.
2006-11-07 07:56:53 · answer #2 · answered by CPAKeith 3 · 0⤊ 0⤋
I've done all the trades you mentioned... like you, I've found online services to be, shall we say, not up to our standards. So, that leaves us with higher commissions at full-service brokerage firms... and I've been happy with AG Edwards in that department.
2006-11-07 10:32:48 · answer #3 · answered by Mike S 7 · 0⤊ 0⤋
OptionsXpress
2006-11-07 09:57:35 · answer #4 · answered by Anonymous · 0⤊ 0⤋
eTrade allows you to trade on the Hong Kong exchange... and many others.
2016-05-22 08:02:44 · answer #5 · answered by Anonymous · 0⤊ 0⤋