posted
I currently have a scottrade account, and they are pretty picky about things like even giving you the ability to trade options.
My roomate wants to open up a account to start trading, but is only planning to put in 1,000... with 1,000 its hard to be effective, but trading options I personally am able to do VERY WEll with just 1,000.... so my question is if he opens up a new choicetrade ac**** with 1,000 will they allow him to trade options? Because i dont think scottrade will..
IP: Logged |
posted
Last month, in addition to my Lowtrades account, I opened a Choicetrade account. Calling before hand, I asked specifically about options and was directed to download a special application form for options to go with the application for the account. Although I included a check for $1500 to start the account, they required none. When I recieved the email informing me my account wa opened, I also got the information that it was open for options.
A bit of a side note or two........Choice trade requires pages more forms mailed to them than Lowtrades and, thereafter, a whole lot more forms filed electronically. And when you call Lowtrades, a human being answers the phone! Not always the same person, but someone that will help, whatever the reason. Choicetrade lets me set stops on stocks under $1 but that is the lower limit at Lowtrades. Lowtrades has trailing stops. The "streaming" real time software and L2s (so far I'm partial to that from Lowtrades, but that may be just familiarity) can be free at both with about 25 trades a month (the previous month at Lowtrades, the current one at Choicetrade....you have to "apply" each month at Choicetrade for the charge to be removed from you account). Either is a good option and cost about the same.
IP: Logged |
I honestly don't know, but I have a number for them and a call should answer that question.
Lowtrades customer service 1-800-597-8767.
By the way, there is a special at Lowtrades, which I think last through September. If you either use or say you want to use (I tried it and went back to the Lowtrades "Trading Desk") Quote Tracker, thier $5 per trade reduces to $2.50 per trade, i.e., in and out of a stock for $5. You have to call and ask, then specifically send an email to have the fees lowered. It's a good deal!
IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
