I 2nd that. When I first opened my account I could buy stock, options, covered calls, BUT no: Cash covered naked puts Credit or debt spreads with a set maximum loss I can understand not allowing naked calls, but to disallow a trade when you can cover the maximum loss makes no sense. My broker also only allows credit spreads if I can cover the short position, they don't consider the long position as "cover". So GOOG is out for me even though a GOOG put credit spread might have a maximum loss of $5000, I wouldn't be able to cover the short puts. I assume all brokers are like that.
Ok....thanks, I'm looking into IB and TOS. I'm with BMO Investorline and their commission is $35.00 plus $1.00- $3.50 per option contract.
OMG thats unbelievable..... IB is cheaper for smaller # of contracts and trades across more things ie FX as well...but you can negotiate a lower rate with TOS (than advertised) and they are BEST for an IRA.
In case of an unsatisfactory trading level...I believe you can update your personal particulars and ask for new level...this is not just for OX I believe. However please be careful once you have the higher levels enabled.
How about TradeKing ... as an alternative to oXp and TOS? The TK site looks good, but they are fairly new, and only one evaluation here (negative). Any other experience/views?