best options broker

Quote from Bogan7:

If you know how to make money why dont you have any? Not trying to be a smart arse just a simple question. You may know in theory how to make money but it is MUCH harder in the real world
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soo true.... I could make 100% + a day paper trading options, at the expense of blowing up several accounts before the big win, now if I did that with my real account I'd be eatting out of a dumpster right now.
 
Quote from acerbits:

soo true.... I could make 100% + a day paper trading options, at the expense of blowing up several accounts before the big win, now if I did that with my real account I'd be eatting out of a dumpster right now.
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Also comms/slippage arent often included when paper trading as most paper traders dont think they are worth including!!!!
 
Quote from Trader7793:

Options House is cheaper as they charge only a flat $9.95 per options trade no matter how many options contracts you are doing. So trading 50 contracts would only be $9.95, a significant savings if one does a lot of trading each month.

I do not use them as I am required to trade at a specific firm since I work there, but they seem like a very good company. They are owned by the options market making firm PEAK6 Investments. Their software seems pretty good also. Their web site is www.optionshouse.com.
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Did you notice on the Option House "smart execution" that each individual put or call has the 9.95 minimum. So on the 4 legged spread that is illustrated there is a commission of 39.80. Not as good as they make it sound.
 
TERA NOVA... great firm for options.

How can one pay 9 bucks for an options trade?

That is insaine.

unless the trade is a 900 lot.

Hell, even a buck a option trade is crazy. (both sides).

how in the hell do you guys find an edge in trading high commission prices in options?

I mean a cancel trade in options can cost you a buck,depending on what Exchange you pull the order from.

Now if your an investor...buying leaps...... I might understand paying up 9 bucks for a trade...if you do not have the capital to open a IB account or get with a clearing firm like Tera Nova.

Then again, you shouldn't be trading if you can't open an IB account.

Leave your money in the 401k
 
Quote from erc90:

without a doubt ThinkorSwim is the best option broker....that is coming from a former option principle....me.....
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TOS account minimum is beyond the OP's limit. I think it is $3500.

ETA: But they are a great broker. I have an account there myself.
 
The question posed by the OP is disingenuous...NO ONE opens an options account with $1000:confused: Even FX I think one needs $3000 to trade (and blow up in a week!)

Options trading is serious business with greater risk/reward than trading equities. A solid foundation in equities/markets PRIOR to trading options is essential, and coming into option trading after having SUCCESS in trading equities is the only way you will make money.

MUCH MUCH better question would be what are the steps to take and how much total capital should I save up when thinking about trading options. Once you have the grounding and funding to trade options THEN and ONLY THEN ask about a broker!!!!!!
 
Quote from hollowpoint:

I do know how to make money, .
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Your statement is pretty arrogant from someone who I reckon has never traded an option in his life. Probably the best way to lose a bit of that is to blow your 1k or whatever you have at the moment to help you realise it is tough here.
 
Quote from Wayne Gibbous:

IB is hard to beat:

Very useful and usable interface.

Open API-automation.

Best rates.


It's not for newbs, tho. TOS or OptionsXpress would probably be better for inexperienced traders...
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It is hard to place combo in IB. Commission is lower in IB.

TOS is easy to place combo orders & u can call to ask questions free.
 
I TOS after typing in the stock symbol, click whichever combol, open the month & click ask to buy. all I have to do is send.

in IB after watching the webaire, I still can not get it. The interface is not so friendly to me.
 
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