Hi guys,
I have always used direct market access platforms for day trading (Sterling Trader Pro, lightspeed, Fusion, Hydra) etc - but I am looking to trade options at present and don't want to pay the $250 dollar a month fees for data and software for DMA at the moment, and am therefore looking at retail online accounts where the commissions are higher but the software costs and data are free.
So my question is this -
Who is currently using the online retail broker software platforms for Options and how does this compare to trading using a direct market access platform.
Does anyone have any experience of using more than one online platform.
My thinking is that whilst new to options I will only be trading one or two options contracts and therefore think it might be cheaper to use a retail account.
Also I think that the tools provided for trading options for the retail trader are actually pretty decent - do you guys share that sentiment?
cheers,
b-man
I have always used direct market access platforms for day trading (Sterling Trader Pro, lightspeed, Fusion, Hydra) etc - but I am looking to trade options at present and don't want to pay the $250 dollar a month fees for data and software for DMA at the moment, and am therefore looking at retail online accounts where the commissions are higher but the software costs and data are free.
So my question is this -
Who is currently using the online retail broker software platforms for Options and how does this compare to trading using a direct market access platform.
Does anyone have any experience of using more than one online platform.
My thinking is that whilst new to options I will only be trading one or two options contracts and therefore think it might be cheaper to use a retail account.
Also I think that the tools provided for trading options for the retail trader are actually pretty decent - do you guys share that sentiment?
cheers,
b-man