(Wed Dec 10th, 2008
I'd like to take the time to talk about a good options broker. A good options broker is very important for any and every options trader, and even every investor. Options can and should be used by most investors. I don't mean that people should be trading options all the time (unless of course you are a trader), but if you are knowledgeable about the market and you like to keep an eye on your portfolio then you should have an options account. Over time, I'll show you why options are an important addition to most everyone's portfolio. Check back for future posts relating to portfolio insurance, covered calls, and other trading strategies and how-tos.
A good options broker can save you a lot of money on trading, both through commissions and execution. A good options broker, like Optionsxpress or OptionsHouse, will provide good pricing, commissions, fast setup, easy access to cash, good charting and low margin rates.
My options broker is Optionsxpress and I have been very happy with them since I opened my account in 2004. Another reputable options broker I have heard good things about is Tradeking. I've never used them so I can't strongly recommend them, but I'd include them in my research if I was in the market for a new options broker.
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