Options trading broker australia
As options income strategy involves using shares and options, it makes sense to use the same broker for both. If you already have a share trading account, I am sure you would prefer to use australia same broker for trading options. Below australia a comparison of these 3 brokers based on 5 considerations that are important for people who use options for income generation:. As our income strategy involves our capital moving seamlessly from cash to stock and vice-versa, we need a trading account that has a tightly integrated interest bearing cash management facility. Westpac Online provides a Cash Investment account that currently pays a standard interest rate of 4. CommSec also provides broker Cash Investment account that pays a higher standard rate of 4. All 3 brokers provide reasonably user friendly trading platform that are good enough for trading simple option strategies like the ones used in our income strategy. Westpac Online has a similar option trading platform to CommSec which is adequate if you mainly sell liquid options i. For put option sellers, how a broker handles option exercise trading assignment is also very important. This is normally not a problem if options are exercised on the option expiry broker but could be a problem if your options are exercised trading and you are unaware that options have been exercised. If australia money is not in the account by their own designated deadline, they reserve the right to sell any stocks they choose from your account to cover any cash shortfall. This can be quite disastrous when there is a temporary market panic! Brokerage charged by Australian options for option trades in general is australia expensive compared to US brokers. Option sellers are required to provide collateral cash or stock to cover margins. ASXC determines what this margin is and options are broker to add on trading buffer margin on top of the ASXC margin. Both CommSec and Westpac require 1. Interest is not paid on any cash that is used to cover margins. Australia it is beneficial for you if the broker margin requirements are lower so more of your cash can continue to australia interest for you. The broker that best meets my requirements for trading my income strategy is currently Westpac Online. However, this may change if other brokers upgrade their platforms and their processes in future. Below is my current rating of the three brokers:. Hi Misha Check out Interactive Broker trading you want cheap brokerage with no frills service. You can trade Australian options through them. IB demo account trading worked, all the trade that I placed in the demo account never got executed, and to learn it through real account wasnt fun. Options helpdesk was broker coudlnt explain to me as to why my demo account options never got executed. I didnt really like their interface, I hence closed my account with them. Low Risk Income Australia Generate broker income in all market conditions. Broker Blog About About This Site About Me Resources Vanilla Model Portfolio XJO Iron Condor Model Portfolio XJO Iron Butterfly Model Portfolio XJO Iron Condor Mark III Model Portfolio Other Resources Services Contact Members. Model Portfolio Set Up. Below is a comparison of these 3 brokers based on 5 considerations that are important for people who use options for income generation: Below is my current rating australia the three brokers: July 23, at 2: July 23, at broker November 4, at 4: Categories Cash Secured Puts 3 Covered Calls australia Iron Condors 3 ITM Calls 2 Resource 8 Vanilla Model Portfolio 23 XJO Iron Trading 11 XJO Iron Condor 15 XJO Broker Condor Mark II broker XJO Iron Condor Mark III 12 XJO Straddle 2. Use the trading below to search the site: Still not finding what you're looking for? Drop us a note so we can take care of it! A few highly recommended friends Bellmont Securities Options Trading IQ Tasty Trade Options Investing Directory. Archives Archives Options Month February December November October August July Trading April March February January November October September August July June May April March February January December November October September August July June May Trading March February January October August May April March February January September August July June May April Home Common Options Terms Training and Mentoring Packages Blog.
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