Comments on: Best Options Broker Review

By: mark

mark — Mon, 19 Oct 2009 05:53:30 +0000

does TOS accepts international client’s?

By: clicclic

clicclic — Sat, 11 Jul 2009 02:33:48 +0000

Jim – love your site.

Don’t overthink this: ThinkOrSwim is the best for options trading. I’ve been a customer for 2 years. Their software is the poster-child for Java apps. There is no equal, unless you’re more interested in FOREX (MetaTrader). OptionVue is excellent too, but the costs involved add up. Also, E-Signal is amazing for charting, but their monthly fees will murder you.

I can’t recommend TOS enough: just negotiate decent commissions ($1.50/contract) and you’ll be set…

By: Tom

Tom — Sun, 05 Jul 2009 23:51:27 +0000

Jim, since you are a beginning options trader I suggest you simply buy a small number of calls or puts depending on what you think the underlying ETF or stock direction will be. The tools are helpful for complicated trades but the costs are very high for multi-leg trades. Mostly left for the professionals. I would suggest that you buy options in the most liquid ETFs, namely QQQQ and SPY. The difference between bid and ask is very small so you have an actual chance of getting a good price. Also, they are offered at strike prices that differ by one dollar rather than five dollars.

By: Sandra

Sandra — Thu, 02 Jul 2009 00:39:51 +0000

I third Thinkorswim. I’m a total novice and find options trading for call options pretty easy once you get used to the fundamentals of the charts they provide. I’m also reading the options playbook that was recommended on tradeking. TOS is really good.

By: Mark

Mark — Wed, 01 Jul 2009 09:36:20 +0000

I second Thinkorswim. It is not so much about price, but the tools available. TOS is the best.

By: Brad

Brad — Tue, 30 Jun 2009 13:42:38 +0000

THINKORSWIM!!! There is simply nothing better than TOS. They have the best options platform; it is simply unmatched in the industry and they are always striving to improve it with new software releases every month. You can sign up for a paper trading account with no obligation and download their desktop platform. They also have web-based and a nice iphone app. There customer service is handsdown the best. I’ve used a lot of brokers but cannot rave enough about TOS.

All the brokers you listed are complete ripoffs. I’m not sure how any research would not have led you to TOS. Commissions are lower than advertised if you ask for a match. I trade options $1.25 per leg, no minimum, $1 minimum on stocks, and $2.5 per leg on futures. If you’d like a referral to get discounted commissions, I’d be more than happy.

Depending on your volume of trades, you should also look into trademonster, they have a great web-based platform with extremely reasonable commissions if you trade in size.