Opvest - Option Investments, Inc

[chaotic1 10]

Anyone familiar with this firm? I recently had a conversation with one of their brokers and am thinking that I would like to try their full-brokerage service for trading options in the futures market.

 

I understand the risks and know the style that I would like to be trading in the futures market. What I need is another pair of eyes to watch my positions and help develop trades for me. This is what they said they will help with. The commissions seem high, but by the sounds of it they trade the method and style that I currenlty trade. My day job sometimes sends my out of town where I can't watch the markets the way I would like. This seems like the very sort of poeple I have been looking for. I am also new to trading options in the futures market. I want to add futures options to my repertoire and diversify my account. I would start with a small sum to see how they work out. And regardless of how they work out, I will manage most of my money myself.

 

My question, does anyone have any experience with them? Mostly I am looking to find out their reputation. I have never heard of them and :crap: can't recall where I found them. :doh:

 

Thank you for your comments and insights.

 

:missy:You can find them at: http://www.opvest.com

[Trader T 10]

I have used their services for about 2 months. I started with a small account. I, like you, realized their commissions were high but thought that if they can make me some good trades, the gains would justify them. My account was down to half within a little over a month. I called to say I was nervous, to ask if the open trades still seemed viable, and I was assured that they were monitoring things closely. My account then lost another half of what the balance was at the time of that call. I asked them to close all trades and they closed one, but left another open. It lost more. I then asked that they no longer "monitor" the trade, that they simply close it out and send me a check for my small remaining account balance. The high commissions were NOT justified. All in all, I lost 40% of my account to high commissions (one options trade cost over $400 in commissions and I lost another few hundred on the trade). My actual trade losses amounted to another 40% and I walked away with 20%. I hope this helps someone. The traders I worked with seemed like nice people ... maybe it's inexperience ... I don't know, but I can't recommend them.

[AgeKay 10]

Here is the thing. If they really knew what they were doing than they would be trading options on their own account and not "advising" other people how to do it. Think about that.

[chaotic1 10]

Here is the thing. If they really knew what they were doing than they would be trading options on their own account and not "advising" other people how to do it. Think about that.

 

I have. And If I were a successful trader who was in a position to help others and add to my own account, then I most certainly would. I have no doubt there are some very successful traders who help others all the time in a similar fashion. I also know there are many more that are charlatans and would rape me of anything I send to them.

[AgeKay 10]

I have. And If I were a successful trader who was in a position to help others and add to my own account, then I most certainly would. I have no doubt there are some very successful traders who help others all the time in a similar fashion. I also know there are many more that are charlatans and would rape me of anything I send to them.

 

I agree. But this is not a successful trader that wants to help you out, this is a broker who charges higher commissions for his "full service". You'd better off finding a cheap no frills broker and a real trader. Traders don't run retail brokerages on the side...

[chaotic1 10]

You'd better off finding a cheap no frills broker and a real trader. Traders don't run retail brokerages on the side...

Thank you for your comment. How does one go about finding a real trader who would be able to help in a similar fashion. Finding a no frills discount broker would be easy.

 

As a side note, I will be holding off on getting into futures for a while. Going to build my account doing what I know, until perhpaps at such a time I go live as a "day trader". Not sure if I would actually become a year round trader, probably just a seasonal day trader when work is slow and I can take extended leave.

 

Thanks again for that comment, that is more or less what I would really like to do, just not so sure about how to go about it. And not that I haven't been looking.

[Donein 10]

I have found out the expensive way, that if you want to LOSE your investment capital in six(6)

months or less join the OpVest auto trade program. The only ones that make a profit are the

Brokers with the trade commission charges. Also the pitch about "no Margin Calls" is a lie.

Be prepared for added losses.

[altrader 10]

I thought I would chime in and let you know that not all people have the same experience. I opened an account with Option Investments about 4 months ago. I knew enough about options to be dangerous. I had lost money in options before doing it on my own, so I wanted to try something a bit different. My broker told me that he doesn't have a crystal ball, but that the markets have started to trend, especially in the grains and metals. He said a lot of it has to do with poor weather and increased demand from the emerging nations like China. It made sense. I bought some call options in wheat, some call options in Silver (Gold was too much for my pocket book) and some put options in the Euro. The Silver option I bought for $300 was sold for $3,750, so I made a ton of money. I made about $500 on the wheat, and lost about $500 on the Euro put options. So, over-all I am thrilled. The commission is $60 a contract, and I have been happy to pay it because of all the help I have been getting. I hope this helps. At the moment I am a happy customer of OpVest. But, if something changes I will let you know.