When you want to begin trading on the stock market, you have several options. You may begin trading through an online platform because you want to buy stocks, trade options, or invest in another part of the market. If you are trading on the options market, you can diversify your portfolio instead of focusing solely on stocks or commodities. The best platform for options trading is the one you feel most comfortable with. Read through each of the six to determine what will work best for you.
1. E-Trade
E-Trade is a popular trading platform for options because it offers you useful information, allows you to trade online, and charges low commissions on each trade. You can review the whole of the options market on your computer, phone, or tablet. Plus, you can make trades instantly. If you need further assistance, you can work with a broker at E-Trade who will help you.
You have the most options when you trade with E-Trade because they offer more information and more options choices. You can use E-Trade if you are just starting, and they have two apps you can use. Their Power app has extra options for advanced traders, and their traditional app lets you buy, sell, trade, and transfer money to your bank account.
2. Interactive Brokers
Interactive Brokers charges very low commissions, and they allow you to do all the trading on your own. The programming for this platform keeps you up-to-date at all times, and you can use their tutorials to determine which options you should buy. This company is an industry leader in international trading, and you could use their platform to diversify your portfolio even more. Interactive brokers may become a tool you use as you get better at trading options.
3. TD Ameritrade
TD Ameritrade is the investment arm of America’s most convenient bank. They offer the most information and education on the options market, and they offer a banking app that allows you to manage your money after trading with their Ameritrade app. You can contact someone directly if you need more information about your trades, and you can use their articles to determine which options are best for you. A beginner can start with TD Ameritrade today, or an expert can use this company’s platform because it is so easy to use.
4. Trade Station
If you are a casual trader, you can use the app offered by Trade Station. The company will take you through each step of the trading process, and they will explain how to make each trade. You can use their mobile app if you are trading options to make a bit of extra money. If you are a trading expert, you can use their desktop application to check in on the industry and learn more about each trade you have made.
5. Charles Schwab
Charles Schwab has long been a leader in personalized customer service. The company started with TV commercials long ago that featured their namesake. They have transferred that brand of personal service to their mobile app where you can learn everything you need to know about options trading. You can use their trading tools to buy into any option you want, and you can read as many articles as you like about the industry.
You can speak directly with a broker if you have questions, and you can trade on your phone or tablet if you are traveling. The company charges low fees for each trade, and they offer a special tool that will help you decide which options you should invest in first.
6. Light Speed
Founded in 2006, Light Speed is among the top brokerages in the US. This firm is for more experienced traders as it offers a more sophisticated trading platform. The options platform they offer is called Livevol X. It has customized layouts and offers analysis, order execution, historical data and other handy features. With this platform you can easily manage your account from both your laptop and phone. And as Light Speed has a more professional user interface, it is recommended only for experienced persons. If you are new to this world you might want to start with another platform.
Conclusion
Trading on the options market can be confusing if you do not have any help. You want to trade for as little money as possible, but you need to be educated on the options market. The six platforms listed above help you trade on the options market today without feeling lost. You can get in touch with a real person through each platform, and you can use their tutorials to learn which options to buy first. You might start with something like E-Trade, and you can move on to a platform like Interactive Brokers when you have sharpened your skills.
