If you are an active futures options and do some naked selling like myself,... can you recommend a good broker? I am using IB which is the worst I have experienced and their poor service costing my severe losses.
An investment guru recommended OptionsXpress.com for advanced option trades and Scottrade for beginners. I am in the process of opening an account with OptionsXpress. So far so good. I have called them with questions several times and everyone that I've talk to has been competent. My current broker is too restrictive and won't let me trade credit spreads on Index ETFs.
thinkorswim is the one i use. Some negatives when it comes to futures trading but very good for options.
LOL, I wonder if your current broker is Schwab, who just announced a merger with OX. I went to the OX website and they are a bit light on details. I finally found that they do trade options on futures by looking at their commission page which was also not obvious. It's under the "About Us" section. 1-40 contracts is 12.99 (I hope that's not per contract). Seems a bit high for low volume.
IB is pretty decent options on futures. You can trade a great many CME/CBOT/NYMEX/COMEX contracts with them. (ZS, ZC, ZW etc) OX commissions are too high & can make some strategies cost prohibitive.
What happened exactly? I use IB, and while TWS sometimes has annoying glitches I haven't experienced serious problems (after I fixed a hardware problem on my end).
I'm looking for a commodities options broker as well. Primarily intersted in hedging profits in longs in CL.
I say, I would go for the Interactivebroker. They seem quite legit. And, besides it is even advertised here on this site!