Options trading are nothing more different than stock trading. In options trading people buy or sell an option like a contract by a certain date at a pre-negotiated price. This platform has a lot of perks when it comes to profits. Low commissions are just the starting for traders considering options trading. They also need to consider hidden fees such as platform fees and data fees. This trading platform opens a door for a wide variety of options contracts; this makes it more versatile than stocks.
There are a plethora of options trading platforms available out there where the trading process is usually smooth and less complicated. Here are the top best 5 options trading platforms available which can make a trader more comfortable with options trading.
This platform is one of the most successful options trading platforms in this niche. E*TRADE usually charges more than most for its options commission but also provides a fantastic platform. This web based platform offers all the tools a trader need and displays them in an amazing way. These tools include automatic spread grouping, scanning through strategySEEK, easy risk/reward data through tradeLAB and all these together makes E*TRADE a magnificent experience for traders. This platform is best for options overall with an options base fee of $6.95 and a per contract fee of $0.75.
2. Interactive Brokers
Interactive Brokers is well known for its commission’s schedule which is leading the industry, its margin rates and international trading. This platform has the lowest trade commissions and margin rates, endless order types for professional traders and access to investment offerings and international markets. Options are available at $0.70 per contract with no minimum rates and the exercise and assignments are free. These are the major benefits when it comes to Interactive Brokers. This platform is best for options rates and has acquired a good five star rating.
3. TD Ameritrade
This platform is known for its lovely overall experience. It comes with the perks of brilliant education offering, Scottrade acquisition, amazing platforms, thinkorswim, Trade Architect and Mobile Trader. They have advance trade platforms with broker charges of $6.95 per trade. The quality delivered is not disappointing and this platform also has an amazing customer’s support. Ameritrade is best for options tools and comes with an options base fee of $6.95 and a per contract fee of $0.75.
TradeStation is one of the most recognized traders because of its trader technology. This platform gives the benefits like third-party development supported via EasyLanguage and easy web trading. This platform is best for OptionStation Pro. The base options fee stands at $5.00 and a per contract fee at $0.50.
5. Charles Shwab
This platform is an iconic brand which is one of the best trading platforms. It comes with the advantages like industry leading research, amazing phone support and StreetSmart Edge platform. This platform is best for work-limit orders and has a base options fee of $4.95 and a per contract fee of $0.65.
These are the top 5 best platforms that are available for options trading to give the traders a better experience.