Posted by forex at 2:22 AM
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1. Create a list describing all of the services that you would like to evaluate in an options broker. For example you can include commission and fees, full service, online trading, twenty-four hour customer support, free educational material in the form of publications and online training, mobile trading, the ability to easily place spread orders, and whether or not the brokerage offers a free trial of its software for you to practice your trading.
2. Create a list of options brokerages that you want to compare based on the services you selected. Review each options brokerage to determine which ones provide some of or all of your desired services. If you do not know which brokers to place on your list, you may refer to the directory of options brokerages provided by the Options Industry Council.
3. Conduct a background check on your finalized list of prospective options brokerages. Contact the National Futures Association and the Financial Industry Regulatory Authority for this information. Both organizations maintain a public database online that you can access for free or where you can make an official inquiry by contacting them by phone or in writing. Be sure that the options brokers you are considering comparing are in good standing.
4. Compare your chosen brokerage or brokerages against the reviews published by the financial news media. Most of these reviews are available online. Many times, these reviews will provide you with additional information that can help you make a better comparison.