OptionsXpress vs. thinkorswim

I have read these comments and found the recurring theme that OX is WAY too expensive. I agree completely.

Many, many of their competitors are at $1 a contract with no minimum ticket, including Tradestation and IB. And now, ChoiceTrade dropped to 75 cents.

But, what is even worse is that OX is a slow and unreliable.

It amazes me that OX is even in business.
 
Quote from omcate:

I agree. OptionsXpress trading platform is up almost 24 hours a day; 7 days a week. I traded with them for over two years, and could not recall when I was unable to access my account. Interactive Brokers is a completely different story.

However, the margin requirements for selling options, especially index options of Interactive Brokers are much lower than those of OptionsXpress(please check their web site for details). OptionsXpress charges option exercise/assignment as an ordinary stock trade, whereas I ***THINK*** Interactive Brokers charges nothing for that. Cancellations of QQQQ option trade via Interactive Brokers during regular trading hours are almost instantaneously. For OptionsXpress, it sometimes took several minutes. Whenever an option trade was in the status of "Pending Cancel" for more than five minutes, I would contact the customer support of OptionsXpress. Unfortunately, I have done that more than 10 times. Over 75% of my QQQQ option trades were routed by OptionsXpress to PSE by default, and then got executed there. When I chose the "SMART" feature, Interactive Brokers usually routed my QQQQ option trades to ISE.

I have never traded with Thinkorswim. Hence, no comment regarding this online broker.

IMHO:
There is NO perfect Online Broker. If there is one, all the others will be out of the business within a short period of time. We just have to COMPROMISE.
More...

IB does NOT charge for exercise/assignment whereas certain other retail brokers do rip you off you on cash settlement/exercises as if they were a separate optons trade. Not too greedy!

Ice
:cool:
 
I like to fool around with options at times..nothing fancy..just buying calls or puts and I have never used thinkorswim but I do have an account with OptionsExpress.....I have on a number of occasions contacted their customer service and I have received nothing but superior service from them....even though there are less expensive places to buy options, I will stay with OE due to their being very on the ball and never had a problem with any execution....

I am from the old school where much value was (is) placed on customer service and how a customer is treated....OptionsExpress to me is like a breath of fresh air compared to so many companies today that seem to be run by non human robots..
 
Dear Jetfuel

From point of view of game theory ,if operator will hold
losing streak with 100 coonsecutive losse's ,floating bet
tactic with possibility to buy one option with low transaction cost is decisive .

buy 1 call xxxx at 2 sell at 1.8 &

in case of MBT loss 20+2*1$ = 22$
in case ow TOS loss 20+ 2*2.95$= 25.90$
in case of OX loss 20 +29.90$ =59.90$

minimum capital in case of MBT by maximum 50% drawdown
through 100 losing streak
4200$

Author satisfied with OX web based platform and fees
for 10+ options /have ameritrade/datek account also -this have
better java-push streamer /
But will find possibility to use floating bet by small capital.
MBT as TOS both need downloading ,what limited crisis
reaction / downloading software in each case more
vulnerable to virus ,worst network & /
AT and OX public noted ,MBT and TOS not /in case of complaint
better public noted company ?/

What think US resident's ,exist possibility to disscuss matter
with broker about possibility to buy with fees,proportional
for quantity for low quantity /pay forward 100*1.5$ transaction as example/

#############################
Author would very pleased for comment .

05-30-05 06:03 PM

The reality is that thinkorswim is more expensive than OX in almost all cases - TOS only has an advantage if you're trading 5 or less contracts! (If you're an active trader, TOS only has an advantage at 4 or less contracts) Above 5 OX is less expensive.

It seems to me if you want a platform that is available most of the time with phone backup and have your own software OX is a pretty good choice.

If
 
Gentlemen

Author sorry ,errors by speedy enty
please read in case of one trade loss for OX
20 +2*14.95=49.90$ not 59.90$
In cae of MBT minimum capital by 50% drawdown
not 4200$ but 4400$

Yours respectfully Gerus
 
Gentlemen

Question was about better control from SEC...
Public noted company have more motivation to avoid
conflict with clients.
If you think ,that TOS,MBT,Firstrade,Choicetrade,Speedytrade
is better ,please inform the author .

IB as example for non-USA resident automaticaly
switched site to EU site and asked volume of paperwork
by account openning ,more as USA based company

Yours respectfully Gerus
 
someone wrote that OX doesn't charge for assignments / exercises. That is FALSE. They charge $15 for each one.

Someone else wrote that Thinkorswim.com is more $ than OX. FALSE. You actually choose your commish schedule at Thinkorswim.com, which is remarkable in itself. They have several that beat the heck out of OX, including one for 99 cents a contract.

Additionally, I used OX for a time and found they absolutely sucked. Sure, it's up usually. They'll let you trade... but slow and glitchy as hell. I missed trades or got screwed on bad pricing again and again.
 
Gentlemen

What from you have experience with another companies ?

Mbtrading,Firstrade,Speedytrader,Choicetrade,Questrade,
datek/Ameritrade ,IB ?


Author would very pleased for comparsion .
 
Can't use Questrade in the US - not sure about overseas.

ChoiceTrade is only licensed in about 15 US states and I am pretty sure they don't offer overseas accounts.

They are both fairly young, but solid, comapnies.
 
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