Discussion in 'Options' started by Hardy, Jul 21, 2007.

  1. Hardy


    Which online broker is best for trading options?

    I've been looking into a few sites...


    Some have no limitations, others do not.
  2. allonred


    You might also want to check out Think or Swim. The mininum is a little higher($3500.00) but most agree they are the best options firm on the street.

    My 2 cents,
  3. Hardy


    Looking to start with $1000 to open.
  4. you buying options or writing them?

    Buying them might be do-able considering the leverage options give you, you can make some pretty big plays with 1K. For you, I recommend scottrade. They rip you off if you do any kind of size w/ options (they charge you 7 + 1.25), but you won't be doing size.

    Another broker is tradeking, they might work for you. Cheapest possible solution for someone w/ only 1K

    If you're thinking about writing options w/ 1K, forget it. You can't even write 1 contract for most stocks, and no broker's giving you writing privileges w/ 1K.
  5. don't try to trade options with $1000...thats nuts...go to Vegas instead
  6. Hardy


    Since I'm only starting with a $1000.
    What should I trade... Stocks or Options?
    And I've never traded before, so what would be easier as a beginner?
  7. Hardy, are you a swing/daytrader?Use Fundamentals or technicals or both? Trading E-mini or YM is probably easier if you have a technical basis or stable plan. There are a ton of questions you need to answer before you decide. I believe optionsXpress has a paper trade page so you might open an account there (you don't need to fund it) and just paper trade stocks/options/futures until you decide which one you want to stick with. Understanding of course that paper trading is not comparable to real trading.

    Just don't think that options are stocks on steroids and trade options as you might stocks.

    You aren't too young to start your journey but get some education under your belt while you save up a decent amount to trade with.
  8. I think buying is the way to go with 1k..... but you should just stick with equities for now.

    I have been shopping around for more discount broker. I'll probably throw in 8k, what kind of writing priveledges will be provided?

    I need a numerical example, because I don't really know what Interactive Brokers means with their price formulation.

  9. Hardy


    I'll be more of a day trader than anything.
    My strategy is: get in and get out.
    Make it quick, but make it count.

    Which online brokers make this strategy simple?
  10. Open an account with IB if you got > 5K. You have to say you have good/excellent knowledge of options, and they'll let you trade them. there's no bullshit trading levels there. You get full privileges, or none, and they usually give it to you.
    #10     Jul 21, 2007