Best Option Brokers

If you're an option trader, you've probably wondered who the best option brokers are. In fact, there are a number of choices, and a little research can go a long way. Here are a few that you might consider:

E*TRADE

E*TRADE option brokers offer a full suite of trading and investment tools. They also provide educational resources and automated portfolio management options. You can learn about diversification, risk analysis, and monitoring your portfolio. This means that you can make informed decisions.

Although they don't charge a fee to trade online, E*TRADE does charge a contract fee of $0.65 per contract. However, active investors receive a discount of $0.50 on each contract. That's a savings of up to $25.

They support limit orders and stop-limit orders, as well as market and market orders. In addition, E*TRADE offers a wide range of trading tools, including a Live Action Scanner that allows users to scan the market for potential investment opportunities. The platform also offers real-time price quotes.

E*TRADE's web-based trading platform is robust and customizable. It includes access to market data and market commentary. There's a full set of research materials available for free, and you can design your own watch lists.

Interactive Brokers

Interactive Brokers has been around since 1993, but the company continues to improve year after year. It has a large number of assets, and offers a wide variety of services.

Interactive Brokers has made it easier to place trades with its simplified portal. This portal allows investors to see key metrics, track market news, and make trades without downloading the app. The platform also makes it easier to keep track of your portfolio.

Interactive Brokers provides a wide variety of education resources for its customers. These include dozens of courses for traders of all skill levels. Some of the content is provided by in-house staff, while others are created by third party educators.

One of the best features of Interactive Brokers is its low margin rates. Depending on your monthly trading volume, you can save up to a third of a percent. Traders with higher volumes will likely save even more.

TastyWorks

TastyWorks is an options trading platform that provides its users with a unique and affordable options trading experience. In addition to the ability to trade stocks, futures, and options, the brokerage also offers a number of investing accounts, including traditional and Roth IRAs.

With the TastyWorks platform, users can choose from more than 20 different option trading strategies. There are also a number of tools and indicators that make it easy for new traders to get a feel for the overall probabilities of making a profit. The interface is easy to use and features a wide range of functionality, including multiple account types.

Although Tastyworks has a relatively short history, it has been around for a couple years now. It was originally founded by thinkorswim, which is now owned by TD Ameritrade.

Thinkorswim

Thinkorswim is a sophisticated and robust trading platform. It offers commission-free trading on US-listed stocks, ETFs, and futures. There is also a mobile application available for iPhone and Android users. The app includes live streaming news, forex trading, and complex options trading.

Thinkorswim offers a comprehensive suite of fundamental analysis tools. This is particularly useful for investors looking to analyze company economic data. Users can view up to 32 charts at one time. In addition, thinkorswim provides over a dozen third-party research firms' insights.

Thinkorswim offers simulated and paper money accounts for practice. Paper money accounts allow users to try out the platform without risking their own money. They come with a free $100,000 practice account and a practice margin account.

The platform also supports paper trading, which allows traders to test out their strategies. A virtual margin account allows users to trade a small number of stocks without risking real money.

Webull

Webull is one of the best option brokers on the market. In addition to offering a wide array of asset types and services, they also provide a robust platform and an intuitive mobile app.

For example, Webull provides a variety of useful charting tools. Not only are you able to see the most relevant graphs, but you can also customise your charts with indicators and Bollinger Bands.

Webull also provides a trading simulator that will give you a realistic simulation of what your trades might look like. You can even create order tickets directly from your charts.

Additionally, Webull provides you with a demo account. This is helpful if you want to test out a new strategy or product. The free demo accounts also give you access to a variety of assets, including stocks, options, ETFs, and cryptocurrencies.