I have read these comments and found the recurring theme that OX is WAY too expensive. I agree completely. Many, many of their competitors are at $1 a contract with no minimum ticket, including Tradestation and IB. And now, ChoiceTrade dropped to 75 cents. But, what is even worse is that OX is a slow and unreliable. It amazes me that OX is even in business.
IB does NOT charge for exercise/assignment whereas certain other retail brokers do rip you off you on cash settlement/exercises as if they were a separate optons trade. Not too greedy! Ice
I like to fool around with options at times..nothing fancy..just buying calls or puts and I have never used thinkorswim but I do have an account with OptionsExpress.....I have on a number of occasions contacted their customer service and I have received nothing but superior service from them....even though there are less expensive places to buy options, I will stay with OE due to their being very on the ball and never had a problem with any execution.... I am from the old school where much value was (is) placed on customer service and how a customer is treated....OptionsExpress to me is like a breath of fresh air compared to so many companies today that seem to be run by non human robots..
Dear Jetfuel From point of view of game theory ,if operator will hold losing streak with 100 coonsecutive losse's ,floating bet tactic with possibility to buy one option with low transaction cost is decisive . buy 1 call xxxx at 2 sell at 1.8 & in case of MBT loss 20+2*1$ = 22$ in case ow TOS loss 20+ 2*2.95$= 25.90$ in case of OX loss 20 +29.90$ =59.90$ minimum capital in case of MBT by maximum 50% drawdown through 100 losing streak 4200$ Author satisfied with OX web based platform and fees for 10+ options /have ameritrade/datek account also -this have better java-push streamer / But will find possibility to use floating bet by small capital. MBT as TOS both need downloading ,what limited crisis reaction / downloading software in each case more vulnerable to virus ,worst network & / AT and OX public noted ,MBT and TOS not /in case of complaint better public noted company ?/ What think US resident's ,exist possibility to disscuss matter with broker about possibility to buy with fees,proportional for quantity for low quantity /pay forward 100*1.5$ transaction as example/ ############################# Author would very pleased for comment . 05-30-05 06:03 PM The reality is that thinkorswim is more expensive than OX in almost all cases - TOS only has an advantage if you're trading 5 or less contracts! (If you're an active trader, TOS only has an advantage at 4 or less contracts) Above 5 OX is less expensive. It seems to me if you want a platform that is available most of the time with phone backup and have your own software OX is a pretty good choice. If
Gentlemen Author sorry ,errors by speedy enty please read in case of one trade loss for OX 20 +2*14.95=49.90$ not 59.90$ In cae of MBT minimum capital by 50% drawdown not 4200$ but 4400$ Yours respectfully Gerus
Gentlemen Question was about better control from SEC... Public noted company have more motivation to avoid conflict with clients. If you think ,that TOS,MBT,Firstrade,Choicetrade,Speedytrade is better ,please inform the author . IB as example for non-USA resident automaticaly switched site to EU site and asked volume of paperwork by account openning ,more as USA based company Yours respectfully Gerus
someone wrote that OX doesn't charge for assignments / exercises. That is FALSE. They charge $15 for each one. Someone else wrote that Thinkorswim.com is more $ than OX. FALSE. You actually choose your commish schedule at Thinkorswim.com, which is remarkable in itself. They have several that beat the heck out of OX, including one for 99 cents a contract. Additionally, I used OX for a time and found they absolutely sucked. Sure, it's up usually. They'll let you trade... but slow and glitchy as hell. I missed trades or got screwed on bad pricing again and again.
Gentlemen What from you have experience with another companies ? Mbtrading,Firstrade,Speedytrader,Choicetrade,Questrade, datek/Ameritrade ,IB ? Author would very pleased for comparsion .
Can't use Questrade in the US - not sure about overseas. ChoiceTrade is only licensed in about 15 US states and I am pretty sure they don't offer overseas accounts. They are both fairly young, but solid, comapnies.