Concerning www.interactivebrokers.com
Before I respond to your question, you might
be interested (as I was) to know that they
have LOWERED their commissions to:
www.interactivebrokers.com/html/retailAccount/fees.html
(Scan down to the bottom of their webpage.)
Their OPTIONS Contracts now cost $1/contract or LESS!
And that's it! The MINIMUM Options Premium is $0.25
if you can believe that!
You might want to read through the posts at:
Most recent posts are here:
==========================
www.siliconinvestor.com/subject.aspx?subjectid=32122
Posts start here:
================
www.siliconinvestor.com/subject.aspx?subjectid=32122&startid=1
They are currently in a slowdown as there
is something being upgraded or repaired that
has to do with the flow of information to their
internet connection (or it might be their
connection). We'll probably find out more later.
Ask your questions to the people at the above
forum, I'm sure they will be happy to answer you.
See what they think about interactivebrokers.com!
See also:
www.epinions.com/finc-Financial_Services-Online-Brokerages-F-N-Interactive_Brokers
and
www.epinions.com/finc-Financial_Services-Online-Brokerages-F-N-Interactive_Brokers/display_~reviews/listype_~opb
You will have to sign up for free at epinions.com
to read all 8 posts. Also, it you want to
view ALL the brokers that people have made comments
about, click here:
www.epinions.com/finc-Brokerages-All/pp_~1/sort_~title/sort_dir_~asc
There is one OTHER issue concerning brokerage
firms and that is financial stability. The
WEISS Rating for InteractiveBrokers.COM is
"A-" which is EXCELLENT! The top WEISS grade
is "A+". I wouldn't be in any brokerage firm
that was rated LOWER than a plain "B". The
WEISS Ratings go as follows:
A+, A, A-, B+, B, B-, C+, C, C-, D+, D, D-
I plan to stay with companies that are in
rated "A+" though "A-" Range.
I don't know the WEISS Rating for Datek.
It could be that he doesn't grade them.
But I don't have his entire list, which
consists of over 600 brokerage firms that
he has graded. See:
www.weissratings.com/products_broker.asp
www.weissratings.com/Products/
www.weissratings.com/Products/BROKER_exclusive_list.asp
www.weissratings.com/Products/BROKER_guide.asp
The quarterly book shown at the last URL above is
the one to get as it is the most extensive. It
details 600+ brokers!! For someone of your worth,
it would be well worth it--to help you select a
broker!! But its out of my budget, so I will
most likely be going with either:
www.interactivebrokers.com
or
www.wallstreetaccess.com (Wall Street Access)
www.wallstreetaccess.com/b_accounts_commissions.htm
BOTH of these firms have an "A-" WEISS Rating.
I wouldn't consider WallStreetAccess.COM
except I really like what they state at:
www.wallstreetaccess.com/b_why_traders.htm
www.wallstreetaccess.com/b_why_expert.htm
www.wallstreetaccess.com/b_why_option.htm
Oftentimes having an expert options broker
working your trade can save a bundle. After
all, for every nickel saved on the premium
for 10 OPTION contracts, saves YOU $50!!
Unfortunately, WallStreetAccess.COM requires
$10,000 minimum to open an account. Makes it
hard on the beginners.
Hope this helps you some. |
