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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!
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To: Herm who wrote (13541)1/29/2001 11:36:37 PM
From: Dan Duchardt  Read Replies (1) of 14162
 
Herm,

This brokerage is one of the cheapest commissions I have
come across. Although, I suspect you need to purchase their
"workstation" software in order to operate thru their
system. Therefore, this is only for the heavy hitters with
large contracts to move. That is most likely how they make
their money.

I have been using Interactive Brokers for over a year. There is no fee for the software, and at $1.95 per contract it is ideal for the smaller player. What you do not get from IB is any combined plays like buy-writes, or spreads at a fixed net credit or net debit (or better). You have to leg in to both sides of any covered position on your own. Also, it is really an order execution system, not a quote service. There are no bells and whistles, no charts, no simple way to pull up full option chains to scan. A secondary quote service is a good idea even for options, and highly recommended for trading Nasdaq stocks.

Note! I don't have any information on how well their
customer support levels or service.

Customer support is not IB's strongest suit. Those low fees will not support an army of help techs, so when there are system problems it can be hard to get through. More info can be found on the IB thread

Subject 32122

Dan
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