Hello ET'ers, This is my first post here. i have had very little experience with different brokers. i have 2 active accounts, and i ready to start trading but i dont know which one i should go with, i am going to be mostly trade options. i have used etrade and liked it. i have not used optionsxpress platform yet. and before i shell out $195 for the first month of data fees i would like to get your opinoin as to which i should go with or if you recommend any other online broker. PS: have been paper trading for about 3 months and have had a 75% win on my trades. im self taught (im very good with numbers) Thanks in advance for taking a look at my thread and for you input Neebie Stage X Tuning
Yikes you ARE a newbie! you can't even spell it Forums âºâº Options Trading âºâº Options âºâº neebie here - E*Trade or optionsXpress or other?
for options, i would go with optionsxpress. Their fees is not the lowest but the website, support, and online documentation/guides etc.. are top notch. And system is 100% stable, never had a single problem. Go with opx, get your feet wet and learn the stuff. Then once you are ready to move on to larger sizies, go for a direct access broker such as IB. Assuming you wont be trading 100 contracts to start with so slightly higher fees is not a big concern at this stage.
Why would you pay "$195 for the first month of data fees"? TOS doesn't charge for the platform or any quotes. No offense, but you don't sound ready to trade anything, especially options.
Go with OXPS. For options, they have a great platform and outstanding customer service. Been there over a year and recommend them for options!
"self-taught" May I suggest that you check out CBOE.com, and optionplanet. Free and low cost training.
I started trading options a couple months ago and use PowerEtrade very successfully. Excellent execution, linkup of options and underlying on watch lists with all charts visible. Just be sure on complex spreads to use net credit/net debit; market orders will not necessarily get you market prices:eek:
www.888options.com - excellent strategy explanations and other educational resources. Plus you can call them toll-free with questions and speak to someone right away (usually Bill) Great help when I started out!