US Options

PMA-UK

Newbie
2 0
Hi

I have just started with a US tipsheet to start trading in US options. I opened an account with E-trade and got level 1 (which I think is beginner) status. had weeks of hassle filling in forms which they lost and required again etc so now I am able to start trading. Is there a better option than this from teh UK that anyone knows of. I've got a couple of ebooks on it but none of them give the detailed info that I need to start placing money. Would I be able to make the same (alleged) returns on something like UK intraday or options trading. like most things the more I look into it the more of a complex minefield it becomes.

Thanks in advance :?:
 

boy

Established member
552 3
You can trade UK and US stock and index options online with UK based - www.mybroker.com

They are a very good firm to deal with and easy to contact by telephone should the need arise


The software is also very easy to use and pretty stable with many free tools and additional features which can be added as you go.

The software can be downloaded from the web site and is free to use, data is delayed by 15 min until you open an account and trade for real, even then you only need to trade once a month other wise you incur a £10 inactivity fee.

Hope this helps.
 

osho67

Well-known member
407 3
What about IB for us options. In uk the fee per contract is £20-25. In uk the spreads for options is very wide as well. Comments much appreciated. Thanks
 

PMA-UK

Newbie
2 0
many thanks Boy, Bluechip trader and oso67 for the help. It is greatly appreciated.

Best wishes, patrick
 

just21

Member
70 1
Interactive Brokers charge $1 a contract for us options no minimum, so you can start by trading one lots. They are the cheapest Us options broker by a considerable distance. The software is excellent and you can see your orders joining the bid/ask, making better market, executing instantly.
 

stevet

Established member
917 5
but watch out for the cancel fee on US options through IB and make sure you understand the rules that the US option exchanges operate under - since they are designed to allow the members of those exchanges to reach into your pocket and take your money!
 

osho67

Well-known member
407 3
Dear Stevet
I could not understand your comment "designed to allow the members of those exchanges to reach into your pockets and take your money. Please explain more. Thanks
 

stevet

Established member
917 5
osho67

the US option exchanges with pits have onerous rules for off-floor traders, but this would only affect you if you are trading large size, or intra-day trading options

if you trade options though IB, their retail charges and in particular their order cancelation charge would pretty much defeat any intra-day trading, and as long as you write your option on the ICE exchange - you should never be affected

but the rules are very different to tradng stocks or futures
 
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