US Options trading from the UK

This is a discussion on US Options trading from the UK within the Futures & Options forums, part of the Markets category; I have traded options for 30 years and there is no better platform than TradeMonster. They also do futures. see ...

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Old Apr 18, 2014, 7:28pm   #9
 
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I have traded options for 30 years and there is no better platform than TradeMonster. They also do futures. see below
https://education.trademonster.com/f...d-questions-3/
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Old Apr 20, 2014, 5:43pm   #10
 
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Charles Schwab has very limited features for Options trading and you need £10k open deposit. After much research I used to use OptionsXpress, but now use Interactive Brokers, who have the lowest charges. As mentioned in a thread previous, best to over fund your account to avoid per transaction currency fees, etc.
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Old Apr 20, 2014, 6:03pm   #11
 
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I have tested Interactive Brokers and find their site to be severely lacking. In the long run the savings are in the 10% to 20% range but you have limited abilities as regard to options trades. Also I find the web site often has trouble loading my account and makes you jump through hoops. This is my main problem with them as I cannot deal with site problems or extra hoops when I want to make a trade. Move to Trademonster and you will be happy. Stocks have now been lowered to $4.95 per trade for any quantity. Options have always been close to the best deal out there and the quality and speed of trading information is unparalleled by anyone. I also have overseas friends who report no problems.
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Old Apr 20, 2014, 8:51pm   #12
Joined Jun 2003
Quote:
Originally Posted by tradermic View Post
Is it right that US Futures Options can only be exercised on the expiration date?
This "european style" is true with most options based on index futures (XSP, XEO..). Not only US futures, but also DAX, ESTX50, FTSE....

Regards

Last edited by Hittfeld; Apr 20, 2014 at 8:52pm.
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Old Apr 20, 2014, 9:06pm   #13
Joined Jun 2003
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Originally Posted by malco3h View Post
I have tested Interactive Brokers and find their site to be severely lacking. In the long run the savings are in the 10% to 20% range but you have limited abilities as regard to options trades. Also I find the web site often has trouble loading my account and makes you jump through hoops. This is my main problem with them as I cannot deal with site problems or extra hoops when I want to make a trade. Move to Trademonster and you will be happy. Stocks have now been lowered to $4.95 per trade for any quantity. Options have always been close to the best deal out there and the quality and speed of trading information is unparalleled by anyone. I also have overseas friends who report no problems.
Rather strange what I read here in this thread about IB. IB is one of the strongest players on the options market, owning one of the biggest marketmaker (TimberHill), having owned a large share of one of the options exchanges, offering the best executions, best technology (TWS) and pricing for retail traders. And they are a honerous and fair firm and they care. Just not for newbies who need lots of handholding and guidance.

Yes Trademonster and TOS are great firms, but IB is in a diferent class: You want to get the best conditions on US-exchanges or japanese stocks or options in Frankfurt or Forex or even CFDs -- IB usually is yout best choice. ALas with a steep learning curve.

Trading via there website is like cruising in a chevy, trading via their TWS is your ride in a PORSCHE, manual gear shifting.....

Regards
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Old Apr 20, 2014, 9:55pm   #14
 
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I would agree that IB will offer the global and institutional investor many things that others sometimes don't. However, the largest quantity of traders will be much better served by trying TS. Take a free look and test the various information and trading tools that they offer. I would only warn that as typical, the paper trading will only fill on bid and ask prices whereas history shows that 90% or so of trades can be filled halfway between them.
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Old Apr 21, 2014, 9:17am   #15
Joined Nov 2006
Move to Trademonster and you will be happy. Stocks have now been lowered to $4.95 per trade for any quantity.

I've just looked at Trademonster but its account opening screens do not appear to allow non USA residents. How did you over come this?
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Old Apr 22, 2014, 6:08am   #16
 
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Overseas accounts are ok. You will need to fill out a W-8BEN tax agreement form which is available during the sign up process. https://www.trademonster.com/forms/T...R_ON_DEATH.pdf
I just checked it out and my Brother in the UK had an account.
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