Day Trade SPY : Trading Brokers
What to look for in a broker:
- Ease of use: it has to be user friendly, albeit take the time to learn its relevant features
- Routing: ensure your trades are routed directly to the market with no chance of trade desk interception
- Commissions: must be acceptable
- Accessible: staff should be available when you need them and be able to communicate effectively
We recommend TastyWorks®
Headed up by the original developers of Think or Swim® *, Tom Sosnoff and his staff are very supportive, responsive and a joy to work with. TastyWorks was born in 2017 but its parent company, TastyTrade® dates back to 2011, helping investors learn how to manage their own money. Trades are delivered directly to the market with lightning speed and no chance of being intercepted, Trader Hugh’s top priority in a broker. Commissions are only $1/contract to buy, $0 to sell… and get this… new for 2018… commissions are capped at $10!
You read that correctly. Your max commission is only $10. That’s it, except for some minor exchange fees.
Trade small, trade often, trade smart, trade TastyWorks!
Options are not suitable for all investors. Inherent risks may expose investors to potentially rapid and substantial losses.
Click Here to open an account with TastyWorks!
* Hugh still uses Think or Swim until TastyWorks fully develops its program to include simulated trading and superior charts. The expected date is Q3, 2018, at which point, we will likely make the changeover. TastyWorks is live now and may be used.
While we have no experience with the Virtual Brokers platform, we recommend them based on direct to market routing, accessibility and the best commissions seen in Canada. Cost to trade: $6.49/trade plus $ .75/contract. You need to be recommended by us to get the discounted rates… make sure you ask us for the referral.