Seeking a bit of help for those who have experience with options trading in Australia. I have been trading options in the U.S. for about two years now, originally through OptionsXpress which has now become Charles Schwab. I’m fairly comfortable with options trading basics and have traded with some success, Covered Calls, Collars, Naked and Protected Puts along with other spread strategies (Iron Butterflies, Iron Condors, Credit/Debit Spreads etc.)
It’s been a hell of a learning journey to get to this point, and I feel like I’d like to get exposure with Australian companies as well, to complement my normal share trading I do here (I use CommSec as my broker FYI)…
Basically, what is the best brokerage for trading options (and equities) in Australia? I have done a lot of reading which suggests that Interactive Brokers is the way to go, but what is the general consensus on this? I would love it if all of my investing (local and international) could take place in the one platform, like IB, but I’m not sure if there’s anything else out there. Can anyone give me some background as to what’s involved to set up an account? (i.e. how much capital/what the pricing structures are)
I’m keen to start trading Australian options, and I’m thinking that surely there’s a better platform that CommSec’s options trading where you pay brokerage of $34.95 per trade…also, are the same types of strategies that I have been using available to trade in Australia?
Would love to hear from anyone who trades using IB, and has any advice on the Australian options trading space more generally.
Thanks in advance
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