Best options trading account for non-frequent trader?

[insight]

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.

 

[insight]

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..

 

[insight]

...anyone....?

 

[village idiot]

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...

 

[nichole]

Have you tried to Google for OptionXpress?

 

[sails]

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.

 

[nichole]

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.