Best broker for trading cheap options?

Discussion in 'Retail Brokers' started by ScroogeMcDuck, Jan 28, 2021.

  1. What's a good broker with no fees on option buying/selling/exercising/assigning, and lax margin requirements?
     
  2. Overnight

    Overnight

    Robinhood. I mean...er...
     
  3. Girija

    Girija

    Cheapest broker search on elitetrader? Whe I look for a broker I look at financial viability.
    Pick someone like ib ameritrade.
    Cheapest is perhaps Robbinhood.
     
  4. I want to make it clear that you should understand that there are no cheap options for trading. Either the broker will charge trading cost, account maintenance fee, or high spreads, etc. The brokers charge the fees for the services they provide such as indicators like RSI, Fibonacci and the trading platforms on which you can utilize those such as MT4, MT5, etc. So I need good leverages plus the option to make my own scripts and indicators. No doubt! I am a MT4 fan because I use golden crosses and death crosses using EMA 34, 8 and 12 to figure out my entry positions. In the low timeframes such as M1 to H1 there are many positions to trade so for my low capital I need leverages but for some others they are not so important. Due to this figure out on your own from the strategy to the broker.
     
  5. Got your point here @pureequity964 since I too have been trading on MT5 despite many others coming up nowadays. I create my own indicators using the in-built MQL language and know that my data is safe because of the reliable encryption.
     
    caseywagner likes this.
  6. What I love about the platform is the customizable features. I have benefitted the most from the customized EAs embedded with the technical indicators of my choice.
     
  7. Been there but when I switched to MT5, the major and quite a frustrating problem I faced was with the codes. Somehow the codes written for MT4 aren’t compatible with MT5. All the time spent in coding custom indicators went down the drain.
     
  8. Tdameritrade
     
  9. Ya that’s one problem but won’t it be good if you code the indicators for MT5 separately? I mean if you want to benefit from the advanced features, it’ll be worth spending time. As a price action trader, trading with turnkey forex for a year now, the drawing tools including the diagonal, horizontal, and vertical lines have perked up the profit margin.

    Not just this, I also realized that these tools could help identify the support and resistance levels and entry and exit points easily when I customized my indicators while trading with avatrade.