Hi, can you tell me who the Big Boys on Elite Trader use for trading Options? I trade with a group of guys and our Brokerage jacked up the price. Thank you for answering on this forum, on other websites I got some strange private emails making all types of weird promises. One example was "if you join our firm, you can trade Ten Times leverage, avoid Pattern Day Trader rules for friends accounts below $50,000" along with other odd claims. Thank's for making your post public so everyone can see and validate all offers. My former Broker is charging New Accounts $6.95 plus $.75 per contract, to retaliate I feel stupid because some of my friends with smaller accounts got ripped off! This Brokerage added data-fees ($500 a month) and raised their commissions to the rate I posted above, I feel like a got conned! I trade with my friends, if you can recommend a decent Broker who does not raise the commissions after your group joins them I would appreciate that. How can a Brokerage charge a higher rate than Etrade with less service and think they are a low price leader? Thank you!
Cannot speak for the big boys, but have been hearing about good pricing from these guys. https://brokerage.tradier.com/overview Best of luck.
its hard to answer this, interactive brokers is pretty cheap and used by a lot of options traders, think or swim has a great platform fees are higher but there are no cancel fees. Option house is or was cheap not sure about their rates or execution.
This brokerage is worthy of a lengthy thread of it's own. We have endless threads favorable options pricing such as this AND API development. Tradier seems to promise more API documentation and clarity than IBKR ever did. This broker might just become a mainstay of elitetrader posters. Any users care to do a full review?
Tradier has a promotion with Esignal, their prices are very fair, I think I am going to open a account with them and test the waters before I recommend it. Have any of you ever had problems with your Brokers? I heard about the Penny Stock Short Selling Artist Timmy Skypes and wondered who he was using to trade and short penny stocks. He get's really angry with Brokers who don't do alliances with him. I am not impressed, on Elite Trader I read about the Option Goddess from Tasty Trade who blow's Timmy's numbers away. Timmy made $400,000 in trading last year while selling his two Wiz kids, Timmy makes $4 million in selling advice, that seem's strange for a guy who claims to be a James Chanos or Muddy Water's Carson Block! You think Timmy is real? Thank you for the advice, I was thinking about MF Global, Refco and I read Timmy's scare with a Brokerage: "A few months ago I wrote this post about the best brokers for short selling penny stocks, but as usual the list has changed. In fact, itâs only been 3 weeks since I wrote an updated post on the best penny stock brokers for 2013, but now even that list is dated. Capstone Investments, which I had been happily using to short sell hard to borrow penny stock for the past few years, is now no more as of the past few days. I wired out roughly $300,000 and am now figuring out where to put that $. There are lots of rumors swirling about exactly what happened, but I wonât bother to speculate because it doesnât matter to me. The fact is you canât trust any broker 100%, theyâre all sales guys, they all lie, but you do need them to execute your trades and you need the right ones to short sell penny stocks." http://www.timothysykes.com/2013/01/this-penny-stock-broker-just-went-bust-here-are-4-great-ones/ I think we have to pay for a decent Brokerage up to a point, I remember the problems with Penson and their Bankruptcy, what a mess! I read through Timmy Sky's reviews of Interactive Broker's, with the amount of trading he does I thought his review might intrigue you all. "2. Interactive Brokers has the single worst customer service of any company, financial or otherwise, that I have ever dealt with and if you have any issues with trades, executions or software glitches, expect them to screw youâ¦because they only care about their bigtime hedge fund clients, not about anyone with less than $1 million and certainly not anyone with less than $100,000. I applied to be an affiliate weeks ago and they sent me an email saying they will let me know within the next month. (Conversely, we accept Profitly affiliates same day HERE and we paid out nearly $50,000 last month in affiliate commissions) That said, they have great borrows to short sell penny stocks, especially on stocks under $2/share and even stocks under $1/share. Some of my ignorant haters mistakenly believe itâs impossible/illegal to short sell stocks under $1-2/shareâ¦nope, IB has been allowing me to do it for years." http://www.timothysykes.com/2013/01/this-penny-stock-broker-just-went-bust-here-are-4-great-ones/ I was reading Timmy Skye's review of SureTrade (A division of my price raising friends at SpeedTrader) and how you can avoid PDT rules for people under $25,000 plus SureTrader adds the 6 to 1 Margin. How are they allowing people to Day Trade with $500 and Short a list of 10,000 Penny Stocks? The smallest Brokerage I have used in my time was "MyTrack" and "Just2Trade", Just2Trade has a very cheap commission structure but their "order entry" system is really slow which would anger Traders who are trying to Scalp or use Market Orders on fast moving stocks. I use Limit Orders almost always, and do my best to allow the Options to move to my price range. SureTrade, what's your opinion? Xandman, it's was a Prop Shop I received the email from, it's two Twenty-Somethings out of the MidWest claiming they found a way around the PDT rule. I'am not worried about the PDT (Regulation 2025) because my accounts are above that. There is another Prop out of Las Vegas that offer's 10 to 1 intra-day buying power, Google them, I feel dirty mentioning websites or emails that offer things that appear to good to be true, or might cause somebody to blow-up! Is SureTrader for non-United State's residents, how can anyone get around the PDT Rules unless they get their credentials and work via a Prop Shop who ask's you to put up $10,000 of your own money? http://suretrader.com/index.html I thought you might be interested in his opinions of http://www.timothysykes.com/2012/01...-broker-for-short-selling-penny-stocks-video/
SureTrade is a Chinese owned firm based out of the Bahamas. As an American, no way. That's just one step worse than opening an account in Russia/Ukraine. And, that's another thing you will have to report during tax time when the IRS asks about foreign accounts. My foreign allocations will be for my "bug out" accounts. Timothy Sykes is typical. He is talking his book to his advantage. The biggest Penny Stock edge is trading with the promoters. The Exits is what I worry about. I have enough explorations right now that I am not in that game.
Thank's for your answers, Today I was trading Apple's $615-$625 May 31 Calls and Facebook's 5-31-2014 $61-$63.50 Calls and my platform with my Brokerages were both dull. With Tradier they mention they will cover the expenses of Esignal if I do over 100 Trades a month, that's not a problem. When I had my account with SpeedTrader I was disgusted how many times my platform crashed and hours of being on the phone with their tech support because SpeedTrader crashed when I traded high volume dynamic stocks. Xandman, which Brokerage do you recommend that has a fast order entry, (Point on the OPRA LL2 and fire the Buy button!) others who recommend Tradier, is their Brokerage integrated with E signal's fast data? Xandman, how has the game been treating you? We talked last year about my ARIA's February $2.00-$5.00 Calls last year, I hope the game has been treating you well. I am getting sick of slow platforms, I thought by paying up with Schwab I would have access to quick data and rapid order entry because they once owned (CyberTrader, a name from our Trading Past). Price is not the only item I am looking for, Today before the Close I missed several good situations because my Platform needs to be better. I will be patient until I try OptionsHouse, Tradier and E-option's platforms. I opened up accounts with each over Labor Day. Can you please tell me how your platform is and are you totally happy with the speed of your quotes? Thanks again!
I am a perennial shopper. However, I am almost totally convinced that all roads lead to IBKR. That said, I recently opened an account with Livevol which is an IB for IBKR. A much better platform than I am a trader, but I think I'm catching up. It has most of the features I could ever want except for real time scanning of spreads combinations that Optionstar does.. For $200, I would get it but I am still exploring IBKR's data feed which is in semi-closed form for Livevol customers. My real interest in Tradier is the API documentation/support/community which will help me develop some programming chops. The big negative is for hyperactive traders who will be swimming in KCG's private pool.
Xandman, are you hitting the targets to cover your data-feeds each month? Do you have access to OPRA LL2 quotes and does your Broker charge extra to route to outside exchanges instead of their Smart Route? I read another obvious report we need to drive down all our costs to rock bottom prices without giving in to a rotten platform. I paid top dollar with Speed-Trader only to have it crash far too much. Can you imagine being on the Help Desk because your platform keeps dying because it can't handle all the data from Apple, Facebook, TSLA , FEYE and other rapid moving stocks and options?