Recommend me an options broker...
Recommend me an options broker...
Author
Discussion

Ultraviolet

Original Poster:

625 posts

246 months

Sunday 6th March 2016
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Anyone use anyone they would be happy to recommend? Just looking for standard calls / puts to get some leverage when dabbling in shares. Would need online trading also. Not interested in CFDs, spread betting or any of that malarkey..

Any tips gratefully received,

Cheers,

UV

DonkeyApple

70,298 posts

199 months

Monday 7th March 2016
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You probably won't do better these days than IB as there isn't any retail demand for options in the UK market for a UK firm to exist on.

Don't forget that CFDs and SpreadBets aren't an instrument but for want of a better term, a wrapper, and that if options trading in size, in your own name and profitable then you'd obviously look to do so within a spread betting account as those types of traders already do.

twinturboz

1,278 posts

208 months

Monday 7th March 2016
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+ 1 for IB. Cheapest commissions around, just a steep learning curve on the platform and also not the quickest customer service.

DonkeyApple

70,298 posts

199 months

Monday 7th March 2016
quotequote all
twinturboz said:
+ 1 for IB. Cheapest commissions around, just a steep learning curve on the platform and also not the quickest customer service.
Yup. That's why they are cheap. It's a great product until you genuinely need to reach a dealing desk and then you're pretty screwed.

sideways sid

1,466 posts

245 months

Monday 7th March 2016
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Another vote for IB.

The platform (TWS) is hardly intuitive, and Customer Service is virtually non-existent - they don't even have a UK telephone number - but the platform works and the costs are tiny.

Salgar

3,285 posts

214 months

Monday 7th March 2016
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Also, spread betting isn't taxed...