Some brokers offer platforms that facilitate order executions of options strategies but fail to understand the nuances and true risks of options trading strategies. For experienced options traders, the lack of understanding among brokers can translate to restrictive risk policies. Beyond transaction costs, fast and accurate order execution and a deep understanding of options strategies are pivotal to selecting an options broker. These options brokers combine powerful platforms, tools, education, and order execution with competitive transaction costs.
Another important consideration for options traders is the cost of margin. At OptionsXpress, margin rates begin at 8. These options brokers compete on price while still offering powerful trading platforms. Base rates and confusing tiers are a thing of the past with TastyWorks. If you prefer flat rate pricing, eOption is the best choice for an options broker.
The margin rates at eOptions are among the most competitive in the industry with a base rate of 5. These brokers offer options traders powerful trading platforms at competitive prices. TradeStation provides an award-winning trading platform with a plethora of tools for experienced options traders to design, test and analyze customized options trading strategies.
The tools are powerful and not targeted to the somewhat inactive options trader. Instead, they target experienced, active and advanced options traders. These brokers offer options traders advanced research capabilities. The OptionsXpress options trading platform, owned by Schwab, has extensive research capabilities, particularly in its Toolbox, which includes its trademarked IdeaHub, Strategy Scan, Dragon, Trading Patterns and Pricer tools among other features.
Schwab also provides beginners a platform called StreetSmart. The full suite of research at Fidelity is available to customers. Fidelity, along with Schwab, has physical locations too, which allow them host educational seminars and visit one-on-one with company representatives to better understand options trading. I started using Tastyworks this year, and I love it. If you give it a try, please use my referral code: Donate To Charity With Betterment. June 14, Broker , Investing. Best Online Options Trading Brokers InvestorMint provides personal finance tools and insights to better inform your financial decisions.
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