So as most of you can see I'm a beginner investor and I'm currently with Fidelity but I hate the commisions and I want to move so now I'm deciding between the following: Zecco,Optionshouse,and Lightspeed. I'm a huge lightspeed fan but which of the three have worked for you the best?
I currently trade with Fidelity and like their Active Trader platform, research info, etc. However, I also am looking at other brokers that have lower commissions, including Lightspeed, Interactive Brokers, and OptionsHouse. I am trying out the OptionsHouse virtual trading platform now, but it crashes my computer -- they think it relates to Java but have not provided a solution. The other reason I have not switched from Fidelity yet is not being sure about whether fees for things like streaming stock and option quotes would negate the lower commissions (Fidelity doesn't charge for streaming quotes for stocks and options). If anyone who trades actively uses one of the above brokers and could provide details on what fees you end up paying monthly for fees it would be appreciated.
Well it looks like me and you are in the same position I narrowed it down to Optionshouse or Zecco because Interactive Brokers has rude and horrible customer service and Lightspeed has horrible technology. The customer service at Lightspeed didn't even know what a logarithmic graph was! So I narrowed it down to Optionshouse or Zecco; I want to see which one has a better virtual platform. I settled wiht Optionshouse because they hardly have any bad reviews whereas Zecco does have some negative press.
I like optionshouse as far as the platform. In General, Make sure that the broker you choose will have good understanding of the platform.This is something that traders take for granted, but I don't think they should. Sadly many brokers don't know their software and tech support at times is slow in the critical hour. Took me 3 years to find an emini broker that knows the software and gives a @#$%. RG
I can't say I've had enough experience with many different firms and their respective platforms to provide effective comparisons. I use ThinkOrSwim and am satisfied with their results so far. Their platform is feature rich and their execution is great for the way I trade. Being able to connect spreadsheet software to it (I use Excel) eliminates a lot of data entry on my part. And I get great rates from them. Each platform and trading house has its own personality, so it's hard to say what's best for any individual. Find one that meets your personal style, and ask for the best rates you can find anywhere.
IB is the one brokerage account I would not want to be without. I think IB has the best and safest brokerage and clearing service on the planet. For me, IB's great service begins with the safety and security of the account. I have had an account with IB for eleven years.
The most you'll get charged at IB is 10 bucks a month for data if you don't make many trades. But to get the same data with a charting package would cost a lot more. The data that you get from IB and what you get from thinkorswim for example, is not of the same quality. IB's is good, thinkorswim's is totally wrong. You only have to generate 30 bucks in commissions a month and the 10 dollar fee is waived. Don't expect a user friendly interface and customer service with IB though, if you want that, you should go to a retail brokerage.
Could you please elaborate? I am a ThinkOrSwim user and love the platform. I thought I did my due diligence by comparing their data feeds with Yahoo online. With options I got exactly the same results during the trading day and after closing. Help me cover my assets.