Now that TOS is being bought by Ameritrade I need to figure out an alternative broker. Here's my list of alternative option brokers that I need to look into. Please add any additional names and opinions regarding these other brokers. I want an options broker that offers quality executions, good analysis software, and good customer service. -Interactive brokers -Optionhouse -Trade Monster -Optionsxpress -Tradeking st
In terms of quality of executions, it's hard to beat IB. Please note the new TAG statistics for the 2nd half of 2008. 60 cents per US contract better than then industry average for options, and 42 cents per US round lot better for stocks. http://www.interactivebrokers.com/en/p.php?f=smartRouting&ib_entity=llc
Don't ever go to OptionsXpress. They have a crude platform and sometimes I feel it was created with a hatchet. I have both TD Ameritrade and OptionsXpress accounts and the former is way more polished than the latter.
Regarding IB, Do they charge cancel/modify fees for option spread orders (eg verticals, calendars)? Or is that fee only for individual option orders? Thanks, ST
Def just explained to me that combo/spread orders don't get charged modify/cancel fees. That pretty much makes IB my next broker if I leave TOS. Thanks everyone for the suggestions. ST