Options other than IB for option traders in Canada?

kcgoogler

kcgoogler

Are there any other options for option traders other than IB in canada. Not that i have any axe against them but exploring options (tongue in cheek).

Basically anyone with decent software, no ticket charges and around a buck per leg, with maybe better margin relief than IB.


ps: sucks.. tos doesnt serve canada yet.


thanks!
 
kcgoogler said:
Are there any other options for option traders other than IB in canada. Not that i have any axe against them but exploring options (tongue in cheek).

Basically anyone with decent software, no ticket charges and around a buck per leg, with maybe better margin relief than IB.


ps: sucks.. tos doesnt serve canada yet.


thanks!
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TOS does.. it's TD Waterhouse's US platform now.

Comms are Waterhouse level though.. not great.
 
ferrycorsten said:
Livevol is an option.
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Livevol as a brokerage is not an option for Canadians. You can buy the Livevol software service, but they cannot execute orders, so Livevol Pro is out as an option north of the border. I've asked :)

ToS is most certainly available to Canadians, you go through TD Waterhouse. Great software, likely the best options trading software available to Canucks. You can only trade US exchange listed products however, and teh commissions available to Canadians aren't' cheap and they won't negotiate. I've also tried and asked.

If you're and active options /futures trader looking for no ticket charge and low commissions and want to trade products worldwide, IB is really the only game in town for Canadians as far as I know.
 
try virtual brokers.
under their "per share" commission structure, the fees seem to be reasonable.
If you decide to open an account with them, let us know how it goes
 
and virtual brokers VBPro is actually just Sterling Trader which seems like its actually a decent peice of software. Compared to some of the other thing on offer its not too bad. For trading options I would go with thinkorswim and waterhouse or ameritrade (whatever the process is now) TOS is great for options and it doesnt hurt having a bank in every neighbourhood that you can reach an employee of waterhouse/td bank at to deposit/withdraw funds etc.

Virtual Brokers offers access to other platforms as well I believe. Questtrade offers option trading in their IQ platform as well. Livevol's software is archaic in comparison to TOS and paying for it is a laugh when there are so many other platforms on offer for free. Trademonster's platform is decent but the questions with their execution leave something to be desired.

With Questrade and TD Waterhouse's TraderPro (? not tos, the cad platform) you can trade options on canadian equities so thats always something to keep in mind.
 
Vision, Suretrader, virtual brokers, all have has ticket charge for options. Same with TDwaterhouse and Questtrade.

In the process of opening with IB. Looks like its the only game in town.
 
kcgoogler said:
Vision, Suretrader, virtual brokers, all have has ticket charge for options. Same with TDwaterhouse and Questtrade.

In the process of opening with IB. Looks like its the only game in town.
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  • IB - $10,000 USD minimum to open account.
  • IB commissions - $1.50 CAD per contact.

  • TD Waterhouse - No minimum to open account.
  • TD Waterhouse commissions - $9.99 CAD plus $1.25 CAD per contract.


:)
 
Yes. So if you sell a put and cover it later commisions are 3$ vs $22.50.

hmm. Also just realized that if assigned TD charges about 40$ for that; no charge at IB.

FXforex said:
  • IB - $10,000 USD minimum to open account.
  • IB commissions - $1.50 CAD per contact.

  • TD Waterhouse - No minimum to open account.
  • TD Waterhouse commissions - $9.99 CAD plus $1.25 CAD per contract.


:)
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