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Broker Finder—Find the Cheapest Broker for Options Trading

I treat my trading and investing as a business, and like any prudent business manager I am constantly seeking to trim costs while growing revenue. With options trading the biggest costs are the commissions your broker charges for every trade. So in the interest of taming those fees I built a tool to help you find the cheapest broker for particular options trading strategies: say hello to Broker Finder.

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I routinely review and compare the broker commissions I pay, and I have realized that no one broker is the cheapest for every transaction. It comes down to the strategy you trade and how many lots per trade you place, which is why you need Broker Finder. You simply select your options strategy along with the lot size per trade and Broker Finder lists all of the popular brokers and their commissions for the trade.

If you are a new investor with a small account, the broker that meets your needs now most likely won’t be the best choice as your account grows. Broker Finder can help you make the switch. Or if you are a trader who puts on many trades to open (maybe you dollar cost average into your trades), a broker with a per contract commission might be better for you than one with a flat ticket charge. Options broker commissions are far more complex than typical stock purchase commissions, and Broker Finder can help you make the right choice.

Broker Finder is all about finding the cheapest broker—not comparing trading tools or features. You might, for example, decide to pay more in commissions to have better tools at your disposal.

Do you have suggestions for making Broker Finder better? Tweet your ideas to @stockpeer or post on the Stockpeer Facebook fan page.

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