Not all brokerage firms are the same.

A number of options users have asked what brokerage platform are we using to trade options? The advice we can give without selecting a firm is to list a number of questions you want to ask before placing your account with that firm. It is important that you ask firm if they allow using options in your IRA? We like the use in IRA’s as you don’t create a taxable transaction. We also find that many investors have the majority of savings in their retirement accounts. The use of options allows you to hedge the portfolio. Another question to ask what is, what is  the cost of your transactions? Our platform allows us to trade at $1.00 per trade (most trades). The fees charged will affect your net outcomes.  If you are going to use options as a strategy, go ahead and call the prospective brokers and find the platform that fits your needs.

We also suggest using optionsdojo to get your feet wet, and learn to immerse yourself in the learning curve. As with any investment, we advise that you never invest without consulting your professional advisor, options are not suitable for all investors and people can and do lose money.

 

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *