# Best options trading account for non-frequent trader?



## insight (18 June 2011)

Hi,

I want to buy some options (long) every now and then when I spot something I'm pretty sure about. 

Can anyone recommend a cost effective and straight-forward broker or trading platform? I want something minimal in terms of both cost and set-up effort.


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## insight (18 June 2011)

I should also add that I am not looking to trade CFDs (purely options). 

I have a bad first impression of trading anything other than ordinary shares through any of the major retail banks.. it's just the vibe I get through. Can anyone say whether westpac is any good as they do offer options trading..

Would be interested in any specialist companies/platforms etc etc that anyone can recommend..


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## insight (19 June 2011)

...anyone....?


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## village idiot (19 June 2011)

insight said:


> Hi,
> 
> Can anyone recommend a cost effective and straight-forward broker or trading platform? I want something minimal in terms of both cost and set-up effort.




the short answer is no, you cant have both those things. The Australian brokers that do ETOs charge commissions that are prohibitive, especially for a start up acount. That leaves you with the rest of the world where a number of brokers have much better platforms and charge a lot less. 

A number of people use Interactive Brokers which are good, but the set-up effort I believe is far from minimal, although it is a long time since I set mine up and I was overseas at the time.

If you are actually going to trade though you are just going to have to go to some effort...


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## nichole (7 July 2011)

Have you tried to Google for OptionXpress?


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## sails (7 July 2011)

nichole said:


> Have you tried to Google for OptionXpress?




I don't believe they do Aussie options anymore.

If you are looking for a US broker, Think or Swim options brokers used to be good.  I think they have now been taken over by another brokerage in the US.


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## nichole (8 July 2011)

sails said:


> I don't believe they do Aussie options anymore.
> 
> If you are looking for a US broker, Think or Swim options brokers used to be good.  I think they have now been taken over by another brokerage in the US.




My apology, I thought the asker was referring to US market. I mainly used CFD for my trading or structured warrants for HSI, STI stocks. For Aussie stocks, mainly using CFD.


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