ASX Options Brokers

[Maddamted]

HAs anyone tried reach Markets...implied volatility to do option combo`s?

 

[DamonH0]

I signed up to impliedvolatility.com.au last month to do spreads. I should preface all this by saying I'm a total newbie to options trading so some of this might not be fair, but it's my honest initial impression..:

The Strategy Builder section is nice for building spreads, and what made me sign up after doing the free trial. It lets you see the impact of changing your strikes / expiries etc on your profit / loss / break-even in a simple way, handy for a beginner. It's definitely helped me get a better 'feel' for what spreads I want to be trading and how to adjust the various parameters to get there.

That said, it doesn't look to be a patch on some other platforms I've seen, e.g. ThinkOrSwim. OK we can't get that here in Aus but when you see the difference it does make IV look a little beginnerish?

One of their main selling points seems to be their graphing/charting ability, but I find them inaccurate (again, I'm a newb, maybe I'm wrong). E.g. The payoff diagrams seem to have different numbers in them to what I'm expecting (the break-even for a trade is stated as, say, 6000, but the graph shows it's 6400..?)

They have no mobile app, just the web-app, which works OK on a tablet device but it's a bit clunky on a phone with the various side-menus getting in the way, and having to scroll sideways as well as up-down to see the page. I wouldn't use it to trade on my phone - desktop only.

When you make a trade, it's not immediately clear what you got filled at, and the net debit/credit of the trade, which I find frustrating. Trades only show up in your trade history the next day, and there you can see your credit/debit, less fees just fine. But on the day, when a trade goes through, I feel a bit blind as to what's just happened.

They also have an annoying bug / quirk of their system which double-counts margin requirement the day you make a trade and doesn't resolve until the next day, so I get margin called every time I make a trade. I contacted their support team the first time it happened because I freaked out. The guy told me I'd done nothing wrong and it would resolve itself, so now I just ignore it, but it's a bit shonky...

And last-but-certainly-not-least, those fees. They are astronomical, and I'm definitely not content to keep paying them after my 1-month-free runs out, so I'm still on the hunt for a better platform.