Australian (ASX) Stock Market Forum

Cheapest Broker for Options, FX, US Indices, Gold

Joined
May 14, 2016
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Beginner Options Trader looking for best options broker for Australian residents.
Are there any negative tax implications if I use a US or international Broker?
Intending about 10 small trades a month, high return, high risk NTM options.
Options will have daily, weekly or monthly expiries.
I would need a demo account for practice.
Is IB the best choice?
Starting Bank is about 10K

thanks
 
Joined
Jul 18, 2019
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Beginner Options Trader looking for best options broker for Australian residents.
Are there any negative tax implications if I use a US or international Broker?
Intending about 10 small trades a month, high return, high risk NTM options.
Options will have daily, weekly or monthly expiries.
I would need a demo account for practice.
Is IB the best choice?
Starting Bank is about 10K

thanks
Hi
Currently I'm using charles schwab (https://www.schwab.com). It is quite good so far. The income received from the option trading will be your foreign income regardless of whether you are using US or Australian broker.
 
Joined
Mar 29, 2020
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Hi
Currently I'm using charles schwab (https://www.schwab.com). It is quite good so far. The income received from the option trading will be your foreign income regardless of whether you are using US or Australian broker.
Hi Lucy,

I checked charles schwab but they don't have any Australian operations any more. Please see the article below:

https://www.internationalinvestment.net/news/4004217/charles-schwab-leaves-australia

When did you join charles schwab for options trading and are you based in Australia?

Thanks,
 
Joined
Mar 25, 2014
Posts
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Beginner Options Trader looking for best options broker for Australian residents.
Are there any negative tax implications if I use a US or international Broker?
Intending about 10 small trades a month, high return, high risk NTM options.
Options will have daily, weekly or monthly expiries.
I would need a demo account for practice.
Is IB the best choice?
Starting Bank is about 10K

thanks
I am the same. looking to trade options but CMC Markets (who I use for stock trading) charge $33 a trade in options.
IB is supposed to be cheaper, but I am finding testing IB platform hideous, old looking, and slow as a dog, and it is really hard to get around. I have just signed up for Tastyworks.com.au but not been confirmed yet but the option trades are US only and cheap commission but I suspect the difficulty will be funding the account and getting it back out. yet to really figure it out. maybe someone can advise on their experience with Tastyworks
 

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