IB or TastyWorks margin costs, execution quality

Discussion in 'Retail Brokers' started by EliteFan, Jan 2, 2020.

  1. EliteFan


    For software and trading US options, TW is the hands down winner. But costs come into it as well. anyone experience their execution quality? l heard TW don't have a time and sales?
    I still have to choose my broker, I am new to trading especially regarding margin differences between IB and TW, the two brokers I am considering (though open to others), how would the margin rates between IB and TW differ? For eg, if I had a 10k account, and was short 5 Feb 230 puts in AAPL@298.49, I see the margin requirement is $11,775 as calculated by http://www.cboe.com/trading-tools/calculators/margin-calculator would the charges shown on https://www.interactivebrokers.com/en/index.php?f=1340 and https://tastyworks.com/commissions-and-fees/ apply on the $1,775? so if I had an account with IB and rate of 3% would apply to 1775, if I had an account with TW it be 8% on 1775? thanks for information to help me decide
  2. wrbtrader


    You should always have a backup broker just in case there's a connection problem, software problem with your primary broker.

    Simply, if you currently do not have a broker...use both IB and TW...make one your primary broker and the other your backup broker.