Goodbye BrownCo, which broker should I check out?

Discussion in 'Retail Brokers' started by a529612, Apr 15, 2006.

  1. I'm moving out of BrownCo because of the pending Etrade merger. I'm a moderately active trader (5 trades a day tops) doing position trading with stocks and options (covered call mostly but sometimes naked options). Looking for a broker with most or all of the following attributes:

    -Good customer service with next to no hold time on phone during market hours
    -Printed paper statements and trade confirms
    -Contingent order capability
    -Decent web based trading platform for trading at work
    -ACH transfer to and from bank
    -Low options minimum commission (trade 5 contracts at most)
    -No restrictions on aggressive option strategies like naked options
    -Free option Greek quotes and analysis
    -Low margin rates
    -Financially stable and established firm that won't go under overnight

    Any suggestions? Fidelity Active Trader? Thanks!
  2. JackR


    In meeting your requirements what do you consider a fair commission for options, equities?

  3. Equities: $5-10 per trade
    Options: $1-10 for under 5 contracts, preferrably no minimum

    I'm not into hyperactive trading and rather pay higher comm for good fill, good customer service than rock bottom price and lousy service. Thanks!
  4. As you know IB is a sponsor here.
  5. But IB is not known for customer service.
  6. They say it has improved. I will let you know as I plan on opening an account this year.

  7. easy...thinkorswim..definitely over fidelity... Have moved both my Brownco and Harris to TOS and am very happy
  8. a529612,

    I have a ThinkorSwim and an OptionsXpress account. If you have read, I condone several accounts to diversify risk...

    I do not have any funds in OptionsXpress and have recently moved it all to TOS...

    But the IB account is next.

    Michael B.
  9. Well you're coming from BrownCo so your standards can't be all that high. :) IB's customer service is better than BrownCo's, in my experience.