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Sg Warrants

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I personally use Interactive Brokers (IB) for my option trading. It has one of the lowest costs around in the market which will become even cheaper in November (to 0.005cents per US share and 0.75cents per US option). However the service they provide is for experienced traders and another broker may be more appropriate to a newbie.

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anybody trade the SG warrants listed on the LSE?

I understand a select few brokers are allowing £1 trades.


if you trade options which brokers do you recommend?

I looked into options in the past and I am waiting on opening an account with a 'proper' broker to deal 'proper' options until I am happier with my strategy and experience. I am gaining experience by dipping my feet into covered warrants in the meantime.

I currently trade SG and Goldman Sachs covered warrants (Gold, Silver, Oil, FTSE, DOW - also looked at housing, but since GS base the covered warrant price on Halifax figures, it's a no-goer imho). I deal through TD Waterhouse and Squaregain. They both offer £1 dealing through 'til the end of the year. This is for deals that are for £200 or greater. The commission gets charged, but you get a rebate a month later.

Beware of some of the spreads involved in the warrants you trade as they can take a big chunk out of your capital.

From my research, proper options are better value to trade than covered warrants, but they generally mean you have to have a certain amount of experience for the broker to allow you to trade (as Footsie points out). You also need a minimum trading balance that could put you off if you are a beginner.

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