Inexpensive Options Brokers
- Thread starter JayK
- Start date
thats as cheap as i've ever seen. i had both ib and mb trading and i thought ib was far superior. ib gets a few price improvlents using the box and i found there system much easier to use. i don't think anyone in america is under $1 and $1 min. the key is the $1 min and i jsut can't see asnyone cheaper
I was offered a deal for $.65 per equity option contract but with a minimum monthly volume of 25k contracts. Although I do only about 5k contracts, they agreed to allow the goal to be achieved as a group effort. If you want to join and are an Elite Trader member, you may e-mail me, perhaps with your phone number as well, and specify how many contracts you trade per month.
Other than saying it is not IB, no more guessing games.
I think that many new option traders make a serious error by considering only the commission cost. It is far more important to get someone who will fight for good execution for your order. I have no dog in this fight, but if you want not to repeat the errors I have made, you should consider the whole picture rather than focusing on the easiest parameter to measure.
B5476,
I totally agree, execution is where the meat is.
However, I spend a lot of time developing or trying out new methods and systems. While these tools are still cooking, I tend to trade 1 - 3 contracts each time; and saving a major chunk of that commission is not bad.
Having said that, let me also add that I like the results I get from OptionsXpress and ThinkOrSwim a lot, but the three brokers I mentioned before (IB, TS and MBT) are not bad either.
(No, I don't work for any of those five fine companies...
)
I totally agree, execution is where the meat is.
However, I spend a lot of time developing or trying out new methods and systems. While these tools are still cooking, I tend to trade 1 - 3 contracts each time; and saving a major chunk of that commission is not bad.
Having said that, let me also add that I like the results I get from OptionsXpress and ThinkOrSwim a lot, but the three brokers I mentioned before (IB, TS and MBT) are not bad either.
(No, I don't work for any of those five fine companies...
)===========Sarah
Sounds like a real good buy;
that is if any options could be actually a real good buy.
IB & OX -BOX offer price improvement of say several bucks average;& just checked my trading notes 4 bucks price improvement per contract thru BOX today, admittedly a bit more than usual.
And CBOE,BOX,ISE have been known to fill limit order at/below bid ;
if one isnt in a hurray to cancel, liquid oprions.
Worry about margin requirements, leverage, tax treatment, and risk based haircut. Commsh is small part of game.
If commish is your major issue than your risk reward ratio needs major restructuring.
TC
If commish is your major issue than your risk reward ratio needs major restructuring.
TC