{"id":2661,"date":"2023-01-04T06:03:00","date_gmt":"2023-01-04T06:03:00","guid":{"rendered":"https:\/\/www.publicfinanceinternational.org\/?p=2661"},"modified":"2023-07-26T08:48:15","modified_gmt":"2023-07-26T08:48:15","slug":"best-options-brokers","status":"publish","type":"post","link":"https:\/\/www.publicfinanceinternational.org\/best-options-brokers\/","title":{"rendered":"Best Options Trading Platform 2023"},"content":{"rendered":"\n<p>In this guide, we go over the top options trading platforms based on various factors. Options trading offers high-profit margins both for brokers and traders alike. This means the competition is high, and every broker strives to provide a great platform for options trading.<\/p>\n\n\n\n<p>For our round-up, we researched many options trading platforms across many different factors. We focused on the platform's functionality for options such as streaming data, greeks offered, charts, calculators, greeks stream, and others.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-best-options-brokers-in-2021\">Best Brokers For Options 2023<\/h2>\n\n\n\n<p id=\"h-this-list-of-the-best-brokers-for-options-trading-is-based-on-numerous-factors-fees-commissions-account-security-customer-support-ease-of-use-regulation-and-more-is-considered-in-our-analysis\">This list of brokers for options trading is based on numerous factors. Fees & commissions, account security, customer support, ease of use, regulation, and more are considered in our analysis.<\/p>\n\n\n\n<p><strong>This is a recap of our selections<\/strong>&#8230;<\/p>\n\n\n\n<ul>\n<li><strong>Interactive Brokers<\/strong> &#8211; Best Options Trading Platform Overall <\/li>\n\n\n\n<li><strong>Plus500<\/strong> &#8211; CFD Options Broker for Non-US Traders<\/li>\n\n\n\n<li><strong>TD Ameritrade<\/strong> &#8211; Best Options Trading Platform Tools<\/li>\n\n\n\n<li><strong>TradeStation<\/strong> &#8211; Best Options Trading Platform Technology<\/li>\n\n\n\n<li><strong>Webull<\/strong> &#8211; Best for Low Fee Options Trading Platform<\/li>\n\n\n\n<li><strong>Fidelity<\/strong> &#8211; Great Options Trading Platform For Beginners<\/li>\n<\/ul>\n\n\n<div class=\"gb-container gb-container-0513719b\"><div class=\"gb-inside-container\">\n\n<h2 class=\"gb-headline gb-headline-863534ac gb-headline-text\">1. Interactive Brokers &#8211; Best Options Trading Platform Overall<\/h2>\n\n\n<div class=\"gb-grid-wrapper gb-grid-wrapper-8ee29b04\">\n<div class=\"gb-grid-column gb-grid-column-f56c479c\"><div class=\"gb-container gb-container-f56c479c\"><div class=\"gb-inside-container\">\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"150\" src=\"https:\/\/www.publicfinanceinternational.org\/wp-content\/uploads\/interactive-brokers-logo-300x150-1.png\" alt=\"Interactive Brokers Logo\" class=\"wp-image-2737\" title=\"\"><\/figure>\n\n\n<div class=\"gb-container gb-container-bbf86708\"><div class=\"gb-inside-container\">\n\n<div class=\"wp-block-uagb-star-rating uagb-block-62e6e80d uag-star-rating__wrapper uag-star-rating__layout-stack\"><p class=\"uag-star-rating__title\"><strong>Our Score<\/strong>:<\/p><div class=\"uag-star-rating\" title=\"4.9\/5\"><span class=\"uag-star\">\u2605<\/span><span class=\"uag-star\">\u2605<\/span><span class=\"uag-star\">\u2605<\/span><span class=\"uag-star\">\u2605<\/span><span class=\"uag-star\">\u2605<\/span><\/div><\/div>\n\n\n\n<p class=\"has-text-align-center\" style=\"font-size:14px\">4.9\/5<\/p>\n\n<\/div><\/div>\n\n\n<center><a class=\"button gradient\" href=\"https:\/\/www.publicfinanceinternational.org\/go\/ib-intl\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Visit &gt;&gt;<\/a><\/center>\n\n<\/div><\/div><\/div>\n\n<div class=\"gb-grid-column gb-grid-column-330447ba\"><div class=\"gb-container gb-container-330447ba\"><div class=\"gb-inside-container\">\n\n<p><a href=\"https:\/\/www.publicfinanceinternational.org\/interactive-brokers-review\/\" target=\"_blank\">Interactive Brokers<\/a> is known for its smart and easy-to-use tools. It offers global investing tools.<br>With Interactive Brokers, you can access <strong>150 markets in 33 markets across the world<\/strong>.&nbsp;Interactive Brokers is best for advanced active traders thanks to their low fees and many trading tools.<\/p>\n\n\n\n<p>When it comes to options trading, IB offers <strong>commissions ranging from USD $0.15 &#8211; 0.65 per contract<\/strong>. You can trade options on over 30 market centers and access advanced options trading tools.<br>When it comes to educational resources, Interactive Brokers offers Traders' Academy with over 50 free online courses on investing, including options.<\/p>\n\n\n\n<p>Their platform is available on mobile, as a web application,<strong> and on desktop<\/strong>. During our testing, their execution speed was in line with the industry standards, and their tools were more than we could wish for. They include <strong>advanced tools<\/strong> like <strong>rollover options tools, analytics, options portfolio, options strategy builder, and much more<\/strong>.<br><\/p>\n\n<\/div><\/div><\/div>\n<\/div>\n\n\n<div class=\"wpdt-c row wpDataTableContainerSimpleTable wpDataTables wpDataTablesWrapper\n\"\n    >\n        <table id=\"wpdtSimpleTable-108\"\n           style=\"border-collapse:collapse;\n                   border-spacing:0px;\"\n           class=\"wpdtSimpleTable wpDataTable\"\n           data-column=\"2\"\n           data-rows=\"5\"\n           data-wpID=\"108\"\n           data-responsive=\"0\"\n           data-has-header=\"1\">\n\n                    <thead>        <tr class=\"wpdt-cell-row \" >\n                            <th class=\"wpdt-cell wpdt-bold wpdt-bc-A2E2FF\"\n                                    data-cell-id=\"A1\"\n                data-col-index=\"0\"\n                data-row-index=\"0\"\n                style=\" width:50%;                padding:10px;\n                \"\n                >\n                                PROS                <\/th>\n                                            <th class=\"wpdt-cell wpdt-bold wpdt-bc-A2E2FF\"\n                                    data-cell-id=\"B1\"\n                data-col-index=\"1\"\n                data-row-index=\"0\"\n                style=\" width:50%;                padding:10px;\n                \"\n                >\n                                CONS                <\/th>\n                                        <\/tr>\n                    <tbody>        <tr class=\"wpdt-cell-row \" >\n                            <td class=\"wpdt-cell \"\n                                    data-cell-id=\"A2\"\n                data-col-index=\"0\"\n                data-row-index=\"1\"\n                style=\"                padding:10px;\n                \"\n                >\n                                Low Options Trading Fees and Commissions                <\/td>\n                                            <td class=\"wpdt-cell \"\n                                    data-cell-id=\"B2\"\n                data-col-index=\"1\"\n                data-row-index=\"1\"\n                style=\"                padding:10px;\n                \"\n                >\n                                Trader Workstation (TWS) can be complicated for novice traders                <\/td>\n                                        <\/tr>\n                            <tr class=\"wpdt-cell-row \" >\n                            <td class=\"wpdt-cell \"\n                                    data-cell-id=\"A3\"\n                data-col-index=\"0\"\n                data-row-index=\"2\"\n                style=\"                padding:10px;\n                \"\n                >\n                                Educational Resources                <\/td>\n                                            <td class=\"wpdt-cell  wpdt-empty-cell \"\n                                    data-cell-id=\"B3\"\n                data-col-index=\"1\"\n                data-row-index=\"2\"\n                style=\"                padding:10px;\n                \"\n                >\n                                                <\/td>\n                                        <\/tr>\n                            <tr class=\"wpdt-cell-row \" >\n                            <td class=\"wpdt-cell \"\n                                    data-cell-id=\"A4\"\n                data-col-index=\"0\"\n                data-row-index=\"3\"\n                style=\"                padding:10px;\n                \"\n                >\n                                Regulated by Top-Tier Authorities                <\/td>\n                                            <td class=\"wpdt-cell  wpdt-empty-cell \"\n                                    data-cell-id=\"B4\"\n                data-col-index=\"1\"\n                data-row-index=\"3\"\n                style=\"                padding:10px;\n                \"\n                >\n                                                <\/td>\n                                        <\/tr>\n                            <tr class=\"wpdt-cell-row \" >\n                            <td class=\"wpdt-cell \"\n                                    data-cell-id=\"A5\"\n                data-col-index=\"0\"\n                data-row-index=\"4\"\n                style=\"                padding:10px;\n                \"\n                >\n                                Low Margin Rates                <\/td>\n                                            <td class=\"wpdt-cell  wpdt-empty-cell \"\n                                    data-cell-id=\"B5\"\n                data-col-index=\"1\"\n                data-row-index=\"4\"\n                style=\"                padding:10px;\n                \"\n                >\n                                                <\/td>\n                                        <\/tr>\n                    <\/table>\n<\/div><style id='wpdt-custom-style-108'>\ntable#wpdtSimpleTable-108{ table-layout: fixed !important; }\n.wpdt-bc-A2E2FF { background-color: #A2E2FF !important;}\n<\/style>\n<style>\n\/* th background color *\/\n.wpdt-c.wpDataTablesWrapper table.wpdtSimpleTable.bt[data-has-header='1'] td.wpdt-header-classes,\n.wpdt-c.wpDataTablesWrapper table.wpdtSimpleTable thead th,\n.wpdt-c .wpDataTablesWrapper table.wpDataTable thead th,\n.wpdt-c .wpDataTablesWrapper table.wpDataTable thead th.sorting {\n\tbackground-color: rgba(97, 204, 252, 0.49) !important;\n    background-image: none !important;\n}\n\n.wpdt-c .wpDataTablesWrapper table.wpDataTable thead tr:nth-child(2) th {\n\toverflow: visible;\n}\n\/* table font size *\/\n.wpdt-c.wpDataTablesWrapper table.wpdtSimpleTable,\n.wpdt-c .wpDataTablesWrapper table.wpDataTable {\n    font-size:14px !important;\n}\n \n<\/style>\n\n\n<\/div><\/div>\n\n<div class=\"gb-container gb-container-f4ab64dc\"><div class=\"gb-inside-container\">\n\n<h2 class=\"gb-headline gb-headline-41418651 gb-headline-text\">2. Plus500 &#8211; CFD Options Broker<\/h2>\n\n\n<div class=\"gb-grid-wrapper gb-grid-wrapper-b76cd901\">\n<div class=\"gb-grid-column gb-grid-column-8611ee56\"><div class=\"gb-container gb-container-8611ee56\"><div class=\"gb-inside-container\">\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"150\" src=\"https:\/\/www.publicfinanceinternational.org\/wp-content\/uploads\/plus500-comparison.png\" alt=\"Plus500 Comparison\" class=\"wp-image-2236\" title=\"\"><\/figure>\n\n\n<div class=\"gb-container gb-container-d206deb5\"><div class=\"gb-inside-container\">\n\n<div class=\"wp-block-uagb-star-rating uagb-block-9c1f5372 uag-star-rating__wrapper uag-star-rating__layout-stack\"><p class=\"uag-star-rating__title\"><strong>Our Score<\/strong>:<\/p><div class=\"uag-star-rating\" title=\"4.9\/5\"><span class=\"uag-star\">\u2605<\/span><span class=\"uag-star\">\u2605<\/span><span class=\"uag-star\">\u2605<\/span><span class=\"uag-star\">\u2605<\/span><span class=\"uag-star\">\u2605<\/span><\/div><\/div>\n\n\n\n<p class=\"has-text-align-center\" style=\"font-size:14px\">4.7\/5<\/p>\n\n<\/div><\/div>\n\n\n<center><a class=\"button gradient\" href=\"https:\/\/www.publicfinanceinternational.org\/go\/plus500\" target=\"_blank\" rel=\"nofollow noopener\">Visit &gt;&gt;<\/a><\/center>\n\n\n\n<\/div><\/div><\/div>\n\n<div class=\"gb-grid-column gb-grid-column-32431195\"><div class=\"gb-container gb-container-32431195\"><div class=\"gb-inside-container\">\n\n<p><a href=\"https:\/\/www.publicfinanceinternational.org\/plus500-review\/\" target=\"_blank\">Plus500<\/a> is a <strong>well-regulated CFD options broker from Israel<\/strong>. Plus500 is listed on the stock exchange and is <strong>part of the FTSE 250 index<\/strong>.<br>Their platform is easy to use. It is available in multiple languages, which is always a plus.&nbsp;<br>A downside of this platform is that Plus500 does not offer good educational content. We would not recommend this platform for beginners.&nbsp;<br>Plus500 has <strong>competitive spreads and charges 0% commissions for options trading<\/strong>. They charge overnight funding, currency conversion, inactivity fee, and guaranteed stop order fees.<\/p>\n\n<\/div><\/div><\/div>\n<\/div>\n\n\n<div class=\"wpdt-c row wpDataTableContainerSimpleTable wpDataTables wpDataTablesWrapper\n\"\n    >\n        <table id=\"wpdtSimpleTable-107\"\n           style=\"border-collapse:collapse;\n                   border-spacing:0px;\"\n           class=\"wpdtSimpleTable wpDataTable\"\n           data-column=\"2\"\n           data-rows=\"5\"\n           data-wpID=\"107\"\n           data-responsive=\"0\"\n           data-has-header=\"1\">\n\n                    <thead>        <tr class=\"wpdt-cell-row \" >\n                            <th class=\"wpdt-cell wpdt-bold wpdt-bc-A2E2FF\"\n                                    data-cell-id=\"A1\"\n                data-col-index=\"0\"\n                data-row-index=\"0\"\n                style=\" width:50%;                padding:10px;\n                \"\n                >\n                                PROS                <\/th>\n                                            <th class=\"wpdt-cell wpdt-bold wpdt-bc-A2E2FF\"\n                                    data-cell-id=\"B1\"\n                data-col-index=\"1\"\n                data-row-index=\"0\"\n                style=\" width:50%;                padding:10px;\n                \"\n                >\n                                CONS                <\/th>\n                                        <\/tr>\n                    <tbody>        <tr class=\"wpdt-cell-row \" >\n                            <td class=\"wpdt-cell \"\n                                    data-cell-id=\"A2\"\n                data-col-index=\"0\"\n                data-row-index=\"1\"\n                style=\"                padding:10px;\n                \"\n                >\n                                User-friendly platform                <\/td>\n                                            <td class=\"wpdt-cell \"\n                                    data-cell-id=\"B2\"\n                data-col-index=\"1\"\n                data-row-index=\"1\"\n                style=\"                padding:10px;\n                \"\n                >\n                                Not Available in the US                <\/td>\n                                        <\/tr>\n                            <tr class=\"wpdt-cell-row \" >\n                            <td class=\"wpdt-cell \"\n                                    data-cell-id=\"A3\"\n                data-col-index=\"0\"\n                data-row-index=\"2\"\n                style=\"                padding:10px;\n                \"\n                >\n                                Demo Account                <\/td>\n                                            <td class=\"wpdt-cell \"\n                                    data-cell-id=\"B3\"\n                data-col-index=\"1\"\n                data-row-index=\"2\"\n                style=\"                padding:10px;\n                \"\n                >\n                                No swap account                <\/td>\n                                        <\/tr>\n                            <tr class=\"wpdt-cell-row \" >\n                            <td class=\"wpdt-cell \"\n                                    data-cell-id=\"A4\"\n                data-col-index=\"0\"\n                data-row-index=\"3\"\n                style=\"                padding:10px;\n                \"\n                >\n                                Regulated by Top-Tier Authorities                <\/td>\n                                            <td class=\"wpdt-cell \"\n                                    data-cell-id=\"B4\"\n                data-col-index=\"1\"\n                data-row-index=\"3\"\n                style=\"                padding:10px;\n                \"\n                >\n                                Only CFD Trading                <\/td>\n                                        <\/tr>\n                            <tr class=\"wpdt-cell-row \" >\n                            <td class=\"wpdt-cell \"\n                                    data-cell-id=\"A5\"\n                data-col-index=\"0\"\n                data-row-index=\"4\"\n                style=\"                padding:10px;\n                \"\n                >\n                                Multiple Languages                <\/td>\n                                            <td class=\"wpdt-cell  wpdt-empty-cell \"\n                                    data-cell-id=\"B5\"\n                data-col-index=\"1\"\n                data-row-index=\"4\"\n                style=\"                padding:10px;\n                \"\n                >\n                                                <\/td>\n                                        <\/tr>\n                    <\/table>\n<\/div><style id='wpdt-custom-style-107'>\ntable#wpdtSimpleTable-107{ table-layout: fixed !important; }\n.wpdt-bc-A2E2FF { background-color: #A2E2FF !important;}\n<\/style>\n<style>\n\/* th background color *\/\n.wpdt-c.wpDataTablesWrapper table.wpdtSimpleTable.bt[data-has-header='1'] td.wpdt-header-classes,\n.wpdt-c.wpDataTablesWrapper table.wpdtSimpleTable thead th,\n.wpdt-c .wpDataTablesWrapper table.wpDataTable thead th,\n.wpdt-c .wpDataTablesWrapper table.wpDataTable thead th.sorting {\n\tbackground-color: rgba(97, 204, 252, 0.49) !important;\n    background-image: none !important;\n}\n\n.wpdt-c .wpDataTablesWrapper table.wpDataTable thead tr:nth-child(2) th {\n\toverflow: visible;\n}\n\/* table font size *\/\n.wpdt-c.wpDataTablesWrapper table.wpdtSimpleTable,\n.wpdt-c .wpDataTablesWrapper table.wpDataTable {\n    font-size:14px !important;\n}\n \n<\/style>\n\n\n<\/div><\/div>\n\n<div class=\"gb-container gb-container-9ebcf9f2\"><div class=\"gb-inside-container\">\n\n<h2 class=\"gb-headline gb-headline-6207c2c5 gb-headline-text\">3. TD Ameritrade<\/h2>\n\n\n<div class=\"gb-grid-wrapper gb-grid-wrapper-34692126\">\n<div class=\"gb-grid-column gb-grid-column-8ed0c6f2\"><div class=\"gb-container gb-container-8ed0c6f2\"><div class=\"gb-inside-container\">\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"150\" src=\"https:\/\/www.publicfinanceinternational.org\/wp-content\/uploads\/TD-Ameritrade-logo-300x150-1.png\" alt=\"TD Ameritrade Logo\" class=\"wp-image-2732\" title=\"\"><\/figure>\n\n\n<div class=\"gb-container gb-container-42a6cbfa\"><div class=\"gb-inside-container\">\n\n<div class=\"wp-block-uagb-star-rating uagb-block-b0abfd4a uag-star-rating__wrapper uag-star-rating__layout-stack\"><p class=\"uag-star-rating__title\"><strong>Our Score<\/strong>:<\/p><div class=\"uag-star-rating\" title=\"4.9\/5\"><span class=\"uag-star\">\u2605<\/span><span class=\"uag-star\">\u2605<\/span><span class=\"uag-star\">\u2605<\/span><span class=\"uag-star\">\u2605<\/span><span class=\"uag-star\">\u2605<\/span><\/div><\/div>\n\n\n\n<p class=\"has-text-align-center\" style=\"font-size:14px\">4.9\/5<\/p>\n\n<\/div><\/div>\n\n\n<center><a class=\"button gradient\" href=\"https:\/\/www.tdameritrade.com\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Visit &gt;&gt;<\/a><\/center>\n\n<\/div><\/div><\/div>\n\n<div class=\"gb-grid-column gb-grid-column-6ff27880\"><div class=\"gb-container gb-container-6ff27880\"><div class=\"gb-inside-container\">\n\n<p>TD Ameritrade's trading platform is one of the best for options trading. It has a <strong>$0 account minimum<\/strong>, the platform is easy to use and navigate, which makes trading easy.&nbsp;<br>TD offers 24\/7 phone and email support. They offer virtual trading, which is ideal for beginners who want to try out the platform without putting their money at risk.&nbsp;<br>Their platform offers excellent research and risk management tools available.&nbsp;<br>This platform can also be used to study option strategies, do asset risk, and set up rolling spreads for expiration dates.&nbsp;<br>For beginners, thinkorswim offers educational tools so that you can learn on the go.&nbsp;<br>We would recommend this platform for both beginners and expert options traders.<\/p>\n\n<\/div><\/div><\/div>\n<\/div>\n\n\n<div class=\"wpdt-c row wpDataTableContainerSimpleTable wpDataTables wpDataTablesWrapper\n\"\n    >\n        <table id=\"wpdtSimpleTable-106\"\n           style=\"border-collapse:collapse;\n                   border-spacing:0px;\"\n           class=\"wpdtSimpleTable wpDataTable\"\n           data-column=\"2\"\n           data-rows=\"5\"\n           data-wpID=\"106\"\n           data-responsive=\"0\"\n           data-has-header=\"1\">\n\n                    <thead>        <tr class=\"wpdt-cell-row \" >\n                            <th class=\"wpdt-cell wpdt-bold wpdt-bc-A2E2FF\"\n                                    data-cell-id=\"A1\"\n                data-col-index=\"0\"\n                data-row-index=\"0\"\n                style=\" width:50%;                padding:10px;\n                \"\n                >\n                                PROS                <\/th>\n                                            <th class=\"wpdt-cell wpdt-bold wpdt-bc-A2E2FF\"\n                                    data-cell-id=\"B1\"\n                data-col-index=\"1\"\n                data-row-index=\"0\"\n                style=\" width:50%;                padding:10px;\n                \"\n                >\n                                CONS                <\/th>\n                                        <\/tr>\n                    <tbody>        <tr class=\"wpdt-cell-row \" >\n                            <td class=\"wpdt-cell \"\n                                    data-cell-id=\"A2\"\n                data-col-index=\"0\"\n                data-row-index=\"1\"\n                style=\"                padding:10px;\n                \"\n                >\n                                Great Education                <\/td>\n                                            <td class=\"wpdt-cell \"\n                                    data-cell-id=\"B2\"\n                data-col-index=\"1\"\n                data-row-index=\"1\"\n                style=\"                padding:10px;\n                \"\n                >\n                                Can only trade US Markets                <\/td>\n                                        <\/tr>\n                            <tr class=\"wpdt-cell-row \" >\n                            <td class=\"wpdt-cell \"\n                                    data-cell-id=\"A3\"\n                data-col-index=\"0\"\n                data-row-index=\"2\"\n                style=\"                padding:10px;\n                \"\n                >\n                                Offers more than just options                <\/td>\n                                            <td class=\"wpdt-cell \"\n                                    data-cell-id=\"B3\"\n                data-col-index=\"1\"\n                data-row-index=\"2\"\n                style=\"                padding:10px;\n                \"\n                >\n                                High margin interest rates                <\/td>\n                                        <\/tr>\n                            <tr class=\"wpdt-cell-row \" >\n                            <td class=\"wpdt-cell \"\n                                    data-cell-id=\"A4\"\n                data-col-index=\"0\"\n                data-row-index=\"3\"\n                style=\"                padding:10px;\n                \"\n                >\n                                Great Trading Platform                <\/td>\n                                            <td class=\"wpdt-cell  wpdt-empty-cell \"\n                                    data-cell-id=\"B4\"\n                data-col-index=\"1\"\n                data-row-index=\"3\"\n                style=\"                padding:10px;\n                \"\n                >\n                                                <\/td>\n                                        <\/tr>\n                            <tr class=\"wpdt-cell-row \" >\n                            <td class=\"wpdt-cell \"\n                                    data-cell-id=\"A5\"\n                data-col-index=\"0\"\n                data-row-index=\"4\"\n                style=\"                padding:10px;\n                \"\n                >\n                                Trading Tools                <\/td>\n                                            <td class=\"wpdt-cell  wpdt-empty-cell \"\n                                    data-cell-id=\"B5\"\n                data-col-index=\"1\"\n                data-row-index=\"4\"\n                style=\"                padding:10px;\n                \"\n                >\n                                                <\/td>\n                                        <\/tr>\n                    <\/table>\n<\/div><style id='wpdt-custom-style-106'>\ntable#wpdtSimpleTable-106{ table-layout: fixed !important; }\n.wpdt-bc-A2E2FF { background-color: #A2E2FF !important;}\n<\/style>\n<style>\n\/* th background color *\/\n.wpdt-c.wpDataTablesWrapper table.wpdtSimpleTable.bt[data-has-header='1'] td.wpdt-header-classes,\n.wpdt-c.wpDataTablesWrapper table.wpdtSimpleTable thead th,\n.wpdt-c .wpDataTablesWrapper table.wpDataTable thead th,\n.wpdt-c .wpDataTablesWrapper table.wpDataTable thead th.sorting {\n\tbackground-color: rgba(97, 204, 252, 0.49) !important;\n    background-image: none !important;\n}\n\n.wpdt-c .wpDataTablesWrapper table.wpDataTable thead tr:nth-child(2) th {\n\toverflow: visible;\n}\n\/* table font size *\/\n.wpdt-c.wpDataTablesWrapper table.wpdtSimpleTable,\n.wpdt-c .wpDataTablesWrapper table.wpDataTable {\n    font-size:14px !important;\n}\n \n<\/style>\n\n\n<\/div><\/div>\n\n<div class=\"gb-container gb-container-9b0a6710\"><div class=\"gb-inside-container\">\n\n<h2 class=\"gb-headline gb-headline-38c010f8 gb-headline-text\">4. Tradestation<\/h2>\n\n\n<div class=\"gb-grid-wrapper gb-grid-wrapper-2dd71483\">\n<div class=\"gb-grid-column gb-grid-column-80bf188e\"><div class=\"gb-container gb-container-80bf188e\"><div class=\"gb-inside-container\">\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"150\" src=\"https:\/\/www.publicfinanceinternational.org\/wp-content\/uploads\/Tradestation-logo.png\" alt=\"Tradestation Logo\" class=\"wp-image-2570\" title=\"\"><\/figure>\n\n\n<div class=\"gb-container gb-container-6bf21261\"><div class=\"gb-inside-container\">\n\n<div class=\"wp-block-uagb-star-rating uagb-block-dc4a0c4a uag-star-rating__wrapper uag-star-rating__layout-stack\"><p class=\"uag-star-rating__title\"><strong>Our Score<\/strong>:<\/p><div class=\"uag-star-rating\" title=\"4.9\/5\"><span class=\"uag-star\">\u2605<\/span><span class=\"uag-star\">\u2605<\/span><span class=\"uag-star\">\u2605<\/span><span class=\"uag-star\">\u2605<\/span><span class=\"uag-star\">\u2605<\/span><\/div><\/div>\n\n\n\n<p class=\"has-text-align-center\" style=\"font-size:14px\">4.8\/5<\/p>\n\n<\/div><\/div>\n\n\n<center><a class=\"button gradient\" href=\"https:\/\/www.tradestation.com\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Visit &gt;&gt;<\/a><\/center>\n\n<\/div><\/div><\/div>\n\n<div class=\"gb-grid-column gb-grid-column-807d4a8b\"><div class=\"gb-container gb-container-807d4a8b\"><div class=\"gb-inside-container\">\n\n<p>TradeStation is a great choice for options traders thanks to their OptionStation Pro platform. They excel in their trading technology, offering a great platform with trading tools for options.<\/p>\n\n\n\n<p>Tradestation has a <strong>$0 minimum deposit,<\/strong> and their <strong>options trading fee is $0.60<\/strong> per contract.<\/p>\n\n\n\n<p>What is excellent about Tradestation is that you can trade stocks, options, futures, forex,<strong> and crypto from a single account<\/strong>. There is a separate account for trading options and stocks, but executed through the same platform.<\/p>\n\n\n\n<p>They have everything an options trader would need, including <strong>advanced charts, indicators, market depth, level 2 quotes, and much<\/strong> more. All you need for analysis and trading.<\/p>\n\n\n\n<p>A drawback is that this platform was designed with expert traders in mind. It is not the most accessible platform to use and does require some tutorials.&nbsp;<\/p>\n\n\n\n<p>We recommend it to intermediate to advanced traders.<\/p>\n\n<\/div><\/div><\/div>\n<\/div>\n\n\n<div class=\"wpdt-c row wpDataTableContainerSimpleTable wpDataTables wpDataTablesWrapper\n\"\n    >\n        <table id=\"wpdtSimpleTable-109\"\n           style=\"border-collapse:collapse;\n                   border-spacing:0px;\"\n           class=\"wpdtSimpleTable wpDataTable\"\n           data-column=\"2\"\n           data-rows=\"5\"\n           data-wpID=\"109\"\n           data-responsive=\"0\"\n           data-has-header=\"1\">\n\n                    <thead>        <tr class=\"wpdt-cell-row \" >\n                            <th class=\"wpdt-cell wpdt-bold wpdt-bc-A2E2FF\"\n                                    data-cell-id=\"A1\"\n                data-col-index=\"0\"\n                data-row-index=\"0\"\n                style=\" width:50%;                padding:10px;\n                \"\n                >\n                                PROS                <\/th>\n                                            <th class=\"wpdt-cell wpdt-bold wpdt-bc-A2E2FF\"\n                                    data-cell-id=\"B1\"\n                data-col-index=\"1\"\n                data-row-index=\"0\"\n                style=\" width:50%;                padding:10px;\n                \"\n                >\n                                CONS                <\/th>\n                                        <\/tr>\n                    <tbody>        <tr class=\"wpdt-cell-row \" >\n                            <td class=\"wpdt-cell \"\n                                    data-cell-id=\"A2\"\n                data-col-index=\"0\"\n                data-row-index=\"1\"\n                style=\"                padding:10px;\n                \"\n                >\n                                All-in-one Platform                <\/td>\n                                            <td class=\"wpdt-cell \"\n                                    data-cell-id=\"B2\"\n                data-col-index=\"1\"\n                data-row-index=\"1\"\n                style=\"                padding:10px;\n                \"\n                >\n                                Learning Curve for Beginners                <\/td>\n                                        <\/tr>\n                            <tr class=\"wpdt-cell-row \" >\n                            <td class=\"wpdt-cell \"\n                                    data-cell-id=\"A3\"\n                data-col-index=\"0\"\n                data-row-index=\"2\"\n                style=\"                padding:10px;\n                \"\n                >\n                                Fast Execution                <\/td>\n                                            <td class=\"wpdt-cell \"\n                                    data-cell-id=\"B3\"\n                data-col-index=\"1\"\n                data-row-index=\"2\"\n                style=\"                padding:10px;\n                \"\n                >\n                                Option Chains not the Best                <\/td>\n                                        <\/tr>\n                            <tr class=\"wpdt-cell-row \" >\n                            <td class=\"wpdt-cell \"\n                                    data-cell-id=\"A4\"\n                data-col-index=\"0\"\n                data-row-index=\"3\"\n                style=\"                padding:10px;\n                \"\n                >\n                                Option Charts                <\/td>\n                                            <td class=\"wpdt-cell  wpdt-empty-cell \"\n                                    data-cell-id=\"B4\"\n                data-col-index=\"1\"\n                data-row-index=\"3\"\n                style=\"                padding:10px;\n                \"\n                >\n                                                <\/td>\n                                        <\/tr>\n                            <tr class=\"wpdt-cell-row \" >\n                            <td class=\"wpdt-cell \"\n                                    data-cell-id=\"A5\"\n                data-col-index=\"0\"\n                data-row-index=\"4\"\n                style=\"                padding:10px;\n                \"\n                >\n                                Customizable                <\/td>\n                                            <td class=\"wpdt-cell  wpdt-empty-cell \"\n                                    data-cell-id=\"B5\"\n                data-col-index=\"1\"\n                data-row-index=\"4\"\n                style=\"                padding:10px;\n                \"\n                >\n                                                <\/td>\n                                        <\/tr>\n                    <\/table>\n<\/div><style id='wpdt-custom-style-109'>\ntable#wpdtSimpleTable-109{ table-layout: fixed !important; }\n.wpdt-bc-A2E2FF { background-color: #A2E2FF !important;}\n<\/style>\n<style>\n\/* th background color *\/\n.wpdt-c.wpDataTablesWrapper table.wpdtSimpleTable.bt[data-has-header='1'] td.wpdt-header-classes,\n.wpdt-c.wpDataTablesWrapper table.wpdtSimpleTable thead th,\n.wpdt-c .wpDataTablesWrapper table.wpDataTable thead th,\n.wpdt-c .wpDataTablesWrapper table.wpDataTable thead th.sorting {\n\tbackground-color: rgba(97, 204, 252, 0.49) !important;\n    background-image: none !important;\n}\n\n.wpdt-c .wpDataTablesWrapper table.wpDataTable thead tr:nth-child(2) th {\n\toverflow: visible;\n}\n\/* table font size *\/\n.wpdt-c.wpDataTablesWrapper table.wpdtSimpleTable,\n.wpdt-c .wpDataTablesWrapper table.wpDataTable {\n    font-size:14px !important;\n}\n \n<\/style>\n\n\n<\/div><\/div>\n\n\n<div class=\"wp-block-kadence-accordion alignnone\"><div class=\"kt-accordion-wrap kt-accordion-wrap kt-accordion-id_c167f1-7d kt-accordion-has-2-panes kt-active-pane-0 kt-accordion-block kt-pane-header-alignment-left kt-accodion-icon-style-arrow kt-accodion-icon-side-right\" style=\"max-width:none\"><div class=\"kt-accordion-inner-wrap\" data-allow-multiple-open=\"true\" data-start-open=\"none\">\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-1 kt-pane_e505aa-1f\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\"><strong>More Options Brokers<\/strong><\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<div class=\"wp-block-group group-border is-layout-flow wp-block-group-is-layout-flow\"><div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-columns are-vertically-aligned-center is-layout-flex wp-container-core-columns-layout-1 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<h2 class=\"wp-block-heading\">Tradier Brokerage<\/h2>\n\n\n\n<p>Tradier Brokerage is high-tech. It is unique because it uses Application Programming Interface (API) with its trading software. This lets Tradier offer a vast range of platforms from a third party for traders.&nbsp;<\/p>\n\n\n\n<p>Tradier is suited to active traders. What is excellent about Tradier is that they offer low commissions and fees.&nbsp;<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"150\" src=\"https:\/\/www.publicfinanceinternational.org\/wp-content\/uploads\/tradier-brokerage-logo.png\" alt=\"Tradier Brokerage Logo\" class=\"wp-image-2662\" title=\"\"><\/figure><\/div><\/div>\n<\/div>\n\n\n\n<figure class=\"wp-block-table aligncenter\"><table class=\"has-fixed-layout\"><thead><tr><th class=\"has-text-align-center\" data-align=\"center\">PROS<\/th><th class=\"has-text-align-center\" data-align=\"center\"><strong>CONS<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">Affordable margin rates<\/td><td class=\"has-text-align-center\" data-align=\"center\">Does not offer online mutual funds<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Real-time market data available<\/td><td class=\"has-text-align-center\" data-align=\"center\">Not suitable for newer traders&nbsp;<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">A vast range of platforms available&nbsp;<\/td><td class=\"has-text-align-center\" data-align=\"center\"><\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-group group-border is-layout-flow wp-block-group-is-layout-flow\"><div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-columns are-vertically-aligned-center is-layout-flex wp-container-core-columns-layout-2 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<h2 class=\"wp-block-heading\">Lightspeed<\/h2>\n\n\n\n<p>Lightspeed is a direct-access online broker. Their focus is on active traders.&nbsp;<\/p>\n\n\n\n<p>They offer fair, competitive pricing. Along with the third-party trading platforms they offer, Lightspeed also has their trading platform called Lightspeed Trader. When comparing their platform to competitors, it is lacking.&nbsp;<\/p>\n\n\n\n<p>A downside to Lightspeed is that if you are a casual or beginner trader, this platform is not for you. Casual trading can mean paying high monthly fees.&nbsp;<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"150\" src=\"https:\/\/www.publicfinanceinternational.org\/wp-content\/uploads\/lightspeed-logo.png\" alt=\"Lightspeed Logo\" class=\"wp-image-2663\" title=\"\"><\/figure><\/div><\/div>\n<\/div>\n\n\n\n<figure class=\"wp-block-table aligncenter\"><table class=\"has-fixed-layout\"><thead><tr><th class=\"has-text-align-center\" data-align=\"center\">PROS<\/th><th class=\"has-text-align-center\" data-align=\"center\"><strong>CONS<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">Low trading fees<\/td><td class=\"has-text-align-center\" data-align=\"center\">High Commission<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Offer Futures trading<\/td><td class=\"has-text-align-center\" data-align=\"center\">High minimum investment needed<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><\/td><td class=\"has-text-align-center\" data-align=\"center\">Account fees<\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-group group-border is-layout-flow wp-block-group-is-layout-flow\"><div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-columns are-vertically-aligned-center is-layout-flex wp-container-core-columns-layout-3 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<h2 class=\"wp-block-heading\">Merrill Edge<\/h2>\n\n\n\n<p>On the opposite end of the coin, Merrill Edge is perfect for casual traders. They offer rich research content and have competitive prices. They have unlimited free trades on stocks.<\/p>\n\n\n\n<p>What makes <a href=\"https:\/\/www.publicfinanceinternational.org\/merrill-edge-review\/\" target=\"_blank\" rel=\"noopener\">Merrill Edge<\/a> great is that it is linked to Bank of America branches all over the US. You can easily go to your nearest branch and get in-person customer service.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"150\" src=\"https:\/\/www.publicfinanceinternational.org\/wp-content\/uploads\/merrill-edge-logo.png\" alt=\"Merrill Edge Logo\" class=\"wp-image-2557\" title=\"\"><\/figure><\/div><\/div>\n<\/div>\n\n\n\n<figure class=\"wp-block-table aligncenter\"><table class=\"has-fixed-layout\"><thead><tr><th class=\"has-text-align-center\" data-align=\"center\">PROS<\/th><th class=\"has-text-align-center\" data-align=\"center\"><strong>CONS<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">Rich third-party research content<\/td><td class=\"has-text-align-center\" data-align=\"center\">Not suited to advanced traders<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Linked to Bank of America<\/td><td class=\"has-text-align-center\" data-align=\"center\">Limited securities offered&nbsp;<\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-group group-border is-layout-flow wp-block-group-is-layout-flow\"><div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-columns are-vertically-aligned-center is-layout-flex wp-container-core-columns-layout-4 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<h2 class=\"wp-block-heading\">Fidelity<\/h2>\n\n\n\n<p>Fidelity is a well-rounded trading brokerage. They do not charge commissions on stock, options, and ETF.&nbsp;<\/p>\n\n\n\n<p>Their investor-friendly trading can save you tons of money!<\/p>\n\n\n\n<p>Fidelity is known for its <a href=\"https:\/\/www.publicfinanceinternational.org\/best-mutual-fund-brokers\/\" target=\"_blank\" rel=\"noopener\">mutual funds<\/a>. They also have rich research and an easy-to-use customizable platform.&nbsp;<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"150\" src=\"https:\/\/www.publicfinanceinternational.org\/wp-content\/uploads\/fidelity-investments-logo.png\" alt=\"Fidelity Investments Logo\" class=\"wp-image-2565\" title=\"\"><\/figure><\/div><\/div>\n<\/div>\n\n\n\n<figure class=\"wp-block-table aligncenter\"><table class=\"has-fixed-layout\"><thead><tr><th class=\"has-text-align-center\" data-align=\"center\">PROS<\/th><th class=\"has-text-align-center\" data-align=\"center\"><strong>CONS<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">Customizable news feed<\/td><td class=\"has-text-align-center\" data-align=\"center\">Not available Worldwide<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Amazing research and asset screeners<\/td><td class=\"has-text-align-center\" data-align=\"center\">Do not offer commodities or options on futures<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Good trade executions<\/td><td class=\"has-text-align-center\" data-align=\"center\">Users will have to use multiple platforms to use the tools<\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-group group-border is-layout-flow wp-block-group-is-layout-flow\"><div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-columns are-vertically-aligned-center is-layout-flex wp-container-core-columns-layout-5 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<h2 class=\"wp-block-heading\">Robinhood<\/h2>\n\n\n\n<p>Robinhood changed the game with their zero commissions approach to options trade, stocks, and ETFs.&nbsp;<\/p>\n\n\n\n<p>This saves you so much more money when trading than with other platforms.&nbsp;<\/p>\n\n\n\n<p>They offer a minimalistic mobile app that is sleek and streamlined to make accessing trade easy.&nbsp;<\/p>\n\n\n\n<p>A downside to the simplicity is that the mobile app lacks spread intelligence tools and portfolio testing tools. The app can only be used to make trades and check your portfolio.&nbsp;<\/p>\n\n\n\n<p>Expert traders may find this platform limiting. It is better suited to beginners looking for trade practice and hobbyists.&nbsp;<\/p>\n\n\n\n<p>We would recommend this platform to beginners and hobbyists who would like to play around with trading.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"150\" src=\"https:\/\/www.publicfinanceinternational.org\/wp-content\/uploads\/robinhood-logo.png\" alt=\"Robinhood Logo\" class=\"wp-image-2555\" title=\"\"><\/figure><\/div><\/div>\n<\/div>\n\n\n\n<figure class=\"wp-block-table aligncenter\"><table class=\"has-fixed-layout\"><thead><tr><th class=\"has-text-align-center\" data-align=\"center\">PROS<\/th><th class=\"has-text-align-center\" data-align=\"center\"><strong>CONS<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">Zero commissions<\/td><td class=\"has-text-align-center\" data-align=\"center\">Lacks spread intelligence and portfolio testing tools<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Simple, easy-to-use mobile app<\/td><td class=\"has-text-align-center\" data-align=\"center\">No phone support<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Low-cost margins for trade&nbsp;<\/td><td class=\"has-text-align-center\" data-align=\"center\">Lacks retirement accounts<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><\/td><td class=\"has-text-align-center\" data-align=\"center\">Limited educational content<\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-group group-border is-layout-flow wp-block-group-is-layout-flow\"><div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-columns are-vertically-aligned-center is-layout-flex wp-container-core-columns-layout-6 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<h2 class=\"wp-block-heading\">Tastyworks<\/h2>\n\n\n\n<p>Tastyworks was launched in 2017 and is run by Tastytrade. This platform is perfect if you\u2019re looking to specialize in options.&nbsp;<\/p>\n\n\n\n<p>It is suited to active traders.<\/p>\n\n\n\n<p>The platform is available online via their website, as a mobile app, and on desktop. This is ideal for traders on the go.&nbsp;<\/p>\n\n\n\n<p>But, the educational content offered is limited, and this is suited to experienced traders. The educational content that is offered is focused on volatility.<\/p>\n\n\n\n<p>This platform can be overwhelming to beginners but if you have some know-how, you might find the challenge exciting.&nbsp;<\/p>\n\n\n\n<p>We would recommend this platform to experienced traders and daring newbies.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"150\" src=\"https:\/\/www.publicfinanceinternational.org\/wp-content\/uploads\/tastyworks-logo.png\" alt=\"Tastyworks LLogo\" class=\"wp-image-2665\" title=\"\"><\/figure><\/div><\/div>\n<\/div>\n\n\n\n<figure class=\"wp-block-table aligncenter\"><table class=\"has-fixed-layout\"><thead><tr><th class=\"has-text-align-center\" data-align=\"center\">PROS<\/th><th class=\"has-text-align-center\" data-align=\"center\"><strong>CONS<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">Zero commissions<\/td><td class=\"has-text-align-center\" data-align=\"center\">Lacks spread intelligence and portfolio testing tools<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Simple, easy-to-use mobile app<\/td><td class=\"has-text-align-center\" data-align=\"center\">No phone support<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Low-cost margins for trade&nbsp;<\/td><td class=\"has-text-align-center\" data-align=\"center\">Lacks retirement accounts<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><\/td><td class=\"has-text-align-center\" data-align=\"center\">Limited educational content<\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-group group-border is-layout-flow wp-block-group-is-layout-flow\"><div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-columns are-vertically-aligned-center is-layout-flex wp-container-core-columns-layout-7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<h2 class=\"wp-block-heading\">E*TRADE<\/h2>\n\n\n\n<p>E*Trade started as an online broker. It has a reputation for supporting newbie investors. They offer an array of educational tools and courses which is perfect for anyone starting.&nbsp;<\/p>\n\n\n\n<p>It has cool features like allowing for complex spreads and customization. It has a performance risk tool. This shows the risk of individual holdings that offer security, especially if you\u2019re just starting.&nbsp;<\/p>\n\n\n\n<p>If you\u2019re an experienced trader that wants to give <a href=\"https:\/\/www.publicfinanceinternational.org\/etrade-review\/\" target=\"_blank\" rel=\"noopener\">E*Trade<\/a> a shot, you can check out their OptionsHouse platform. This offers more data and research.&nbsp;<\/p>\n\n\n\n<p>We would recommend this platform for eager beginners.&nbsp;<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"150\" src=\"https:\/\/www.publicfinanceinternational.org\/wp-content\/uploads\/etrade-logo.png\" alt=\"e-trade logo\" class=\"wp-image-2314\" title=\"\"><\/figure><\/div><\/div>\n<\/div>\n\n\n\n<figure class=\"wp-block-table aligncenter\"><table class=\"has-fixed-layout\"><thead><tr><th class=\"has-text-align-center\" data-align=\"center\">PROS<\/th><th class=\"has-text-align-center\" data-align=\"center\"><strong>CONS<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">Offers charting and forecasting tools<\/td><td class=\"has-text-align-center\" data-align=\"center\">High margin rates<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Customization available for charts and trading ladders<\/td><td class=\"has-text-align-center\" data-align=\"center\">There are additional charges for multi-leg spreads<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">An extensive amount of educational content<\/td><td class=\"has-text-align-center\" data-align=\"center\"><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Low fees ($0.50 to $0.65)<\/td><td class=\"has-text-align-center\" data-align=\"center\"><\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-group group-border is-layout-flow wp-block-group-is-layout-flow\"><div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-columns are-vertically-aligned-center is-layout-flex wp-container-core-columns-layout-8 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<h2 class=\"wp-block-heading\">Webull<\/h2>\n\n\n\n<p>WeBull is a US-based trading platform. They are a fintech startup. What makes them so great is that they offer zero-fee and discount services.&nbsp;<\/p>\n\n\n\n<p>They are a safe and regulated broker and offer a maximum of $500,000 investor protection.&nbsp;<\/p>\n\n\n\n<p>WeBull offers commission-free stock, options, and ETF. They do not charge inactivity fees. This makes it perfect for casual or beginner traders.&nbsp;<\/p>\n\n\n\n<p>A downside to this platform is that it has a limited product portfolio and only covers US stocks, options, and ETFs.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"150\" src=\"https:\/\/www.publicfinanceinternational.org\/wp-content\/uploads\/webull-logo.png\" alt=\"WeBull Logo\" class=\"wp-image-2566\" title=\"\"><\/figure><\/div><\/div>\n<\/div>\n\n\n\n<figure class=\"wp-block-table aligncenter\"><table class=\"has-fixed-layout\"><thead><tr><th class=\"has-text-align-center\" data-align=\"center\">PROS<\/th><th class=\"has-text-align-center\" data-align=\"center\"><strong>CONS<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">Free ETFs, stocks, and options<\/td><td class=\"has-text-align-center\" data-align=\"center\">Limited product portfolio<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Easy to open accounts<\/td><td class=\"has-text-align-center\" data-align=\"center\">Only bank transfers for withdrawals and deposits<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Amazing trading platform<\/td><td class=\"has-text-align-center\" data-align=\"center\">Do not offer live chat and have bad phone support<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><\/td><td class=\"has-text-align-center\" data-align=\"center\"><\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-group group-border is-layout-flow wp-block-group-is-layout-flow\"><div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-columns are-vertically-aligned-center is-layout-flex wp-container-core-columns-layout-9 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<h2 class=\"wp-block-heading\">Charles Schwab<\/h2>\n\n\n\n<p>Charles Schwab is a professional trading platform. Their platform is based on optionsXpress.&nbsp;<\/p>\n\n\n\n<p>Charles Schwab offers various tools like StreetSmart Edge, which is on desktop and online. They also offer the All-in-One Trade Ticket. This allows you to access spread tools and access different kinds of trades from a drop-down menu.&nbsp;<\/p>\n\n\n\n<p>They also have an Idea Hub. This lets you view contracts. What makes this feature so great is that it sorts contracts by market activities or profit projections.&nbsp;<\/p>\n\n\n\n<p>We would recommend this platform to beginners and expert traders.&nbsp;<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"150\" src=\"https:\/\/www.publicfinanceinternational.org\/wp-content\/uploads\/charles-schwab-logo.png\" alt=\"Charles Schwab Logo\" class=\"wp-image-2567\" title=\"\"><\/figure><\/div><\/div>\n<\/div>\n\n\n\n<figure class=\"wp-block-table aligncenter\"><table class=\"has-fixed-layout\"><thead><tr><th class=\"has-text-align-center\" data-align=\"center\">PROS<\/th><th class=\"has-text-align-center\" data-align=\"center\"><strong>CONS<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">Different platforms like StreetSmart Edge and Idea hub lets you see new trading ideas<\/td><td class=\"has-text-align-center\" data-align=\"center\">Tools are spread across numerous apps which can make trading confusing for beginners<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Educational content available for trading<\/td><td class=\"has-text-align-center\" data-align=\"center\">Higher margin rates<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">A large variety of asset classes<\/td><td class=\"has-text-align-center\" data-align=\"center\">Unattractive dashboards and user interface<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Commission-free options available in the US<\/td><td class=\"has-text-align-center\" data-align=\"center\"><\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-group group-border is-layout-flow wp-block-group-is-layout-flow\"><div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-columns are-vertically-aligned-center is-layout-flex wp-container-core-columns-layout-10 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<h2 class=\"wp-block-heading\">You Invest by J.P. Morgan<\/h2>\n\n\n\n<p>You Invest is a DIY trading platform linked to Chase\u2019s mobile banking app. They do not charge commissions. They also have an amazing trading app.&nbsp;<\/p>\n\n\n\n<p>You Invest is a good choice for beginners who want to dip their toes into buying and selling investments.&nbsp;<\/p>\n\n\n\n<p>They also offer good research and educational tools. For users to want their portfolios managed for them, You Invest offers an automated advisor called You Invest Portfolios.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"150\" src=\"https:\/\/www.publicfinanceinternational.org\/wp-content\/uploads\/you-invest-J.P.-Morgan-Logo.png\" alt=\"You Invest J.P. Morgan Logo\" class=\"wp-image-2666\" title=\"\"><\/figure><\/div><\/div>\n<\/div>\n\n\n\n<figure class=\"wp-block-table aligncenter\"><table class=\"has-fixed-layout\"><thead><tr><th class=\"has-text-align-center\" data-align=\"center\">PROS<\/th><th class=\"has-text-align-center\" data-align=\"center\"><strong>CONS<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">User-friendly platform<\/td><td class=\"has-text-align-center\" data-align=\"center\">Limited tools and research<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Does not charge commissions<\/td><td class=\"has-text-align-center\" data-align=\"center\">The Portfolio Builder tool needs a balance of $2,500<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">No account minimum needed<\/td><td class=\"has-text-align-center\" data-align=\"center\"><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Easily connected to all Chase accounts<\/td><td class=\"has-text-align-center\" data-align=\"center\"><\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-group group-border is-layout-flow wp-block-group-is-layout-flow\"><div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-columns are-vertically-aligned-center is-layout-flex wp-container-core-columns-layout-11 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<h2 class=\"wp-block-heading\"><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Gatsby<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/h2>\n\n\n\n<p>Gatsby is a mobile-based trading platform. They offer commission-free options, which is great for traders.&nbsp;<\/p>\n\n\n\n<p>A downside is that the app has a limited trading portfolio. Their customer support also leaves something to be desired. Customer support is only available via email, and they do not have a mailing address, phone number, or live chat.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"150\" src=\"https:\/\/www.publicfinanceinternational.org\/wp-content\/uploads\/gatsby-logo.png\" alt=\"Gatsby Options Logo\" class=\"wp-image-2667\" title=\"\"><\/figure><\/div><\/div>\n<\/div>\n\n\n\n<figure class=\"wp-block-table aligncenter\"><table class=\"has-fixed-layout\"><thead><tr><th class=\"has-text-align-center\" data-align=\"center\">PROS<\/th><th class=\"has-text-align-center\" data-align=\"center\"><strong>CONS<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">Commission-free options<\/td><td class=\"has-text-align-center\" data-align=\"center\">Only available on mobile<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Easy options spread<\/td><td class=\"has-text-align-center\" data-align=\"center\">Limited trading portfolio<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Equity trading<\/td><td class=\"has-text-align-center\" data-align=\"center\"><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Offers a social trading feature<\/td><td class=\"has-text-align-center\" data-align=\"center\"><\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-group group-border is-layout-flow wp-block-group-is-layout-flow\"><div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-columns are-vertically-aligned-center is-layout-flex wp-container-core-columns-layout-12 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<h2 class=\"wp-block-heading\"><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>eOption<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/h2>\n\n\n\n<p>eOption specializes in options. They also offer <a href=\"https:\/\/www.publicfinanceinternational.org\/what-are-etfs\/\" target=\"_blank\" rel=\"noopener\">investments in ETFs<\/a> and stocks.&nbsp; They do not have commission fees on stocks and ETFs, which is a major bonus.&nbsp;<\/p>\n\n\n\n<p>They offer some of the lowest commissions and margins on the market which is always a bonus.&nbsp;<\/p>\n\n\n\n<p>A downside is that you need an account minimum of $500 which is pricey.&nbsp;<\/p>\n\n\n\n<p>For beginners, they offer educational content. They have platforms on both mobile and desktop.&nbsp;<\/p>\n\n\n\n<p>We would recommend this platform to both beginners in options trade and experts.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"150\" src=\"https:\/\/www.publicfinanceinternational.org\/wp-content\/uploads\/eoption-logo.png\" alt=\"eOption Logo\" class=\"wp-image-2668\" title=\"\"><\/figure><\/div><\/div>\n<\/div>\n\n\n\n<figure class=\"wp-block-table aligncenter\"><table class=\"has-fixed-layout\"><thead><tr><th class=\"has-text-align-center\" data-align=\"center\">PROS<\/th><th class=\"has-text-align-center\" data-align=\"center\"><strong>CONS<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">Low fees<\/td><td class=\"has-text-align-center\" data-align=\"center\">High account minimum<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Multiple platforms<\/td><td class=\"has-text-align-center\" data-align=\"center\"><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Educational content<\/td><td class=\"has-text-align-center\" data-align=\"center\"><\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-group group-border is-layout-flow wp-block-group-is-layout-flow\"><div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-columns are-vertically-aligned-center is-layout-flex wp-container-core-columns-layout-13 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<h2 class=\"wp-block-heading\"><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Ally Invest<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/h2>\n\n\n\n<p>Ally Invest is known for its low-cost and low fees. This platform is suited to beginners because Ally Invest because of its easy-to-use tools.&nbsp;<\/p>\n\n\n\n<p>This is great if you\u2019re on a budget.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.publicfinanceinternational.org\/ally-invest-review\/\" target=\"_blank\" rel=\"noopener\">Ally Invest<\/a> has transparent fees. If you are interested, you can check out Ally\u2019s Straight Talk Fees Guide.&nbsp;<\/p>\n\n\n\n<p>We would recommend this platform for beginners and expert traders.&nbsp;<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"150\" src=\"https:\/\/www.publicfinanceinternational.org\/wp-content\/uploads\/ally-invest-logo.png\" alt=\"Ally Invest\" class=\"wp-image-2564\" title=\"\"><\/figure><\/div><\/div>\n<\/div>\n\n\n\n<figure class=\"wp-block-table aligncenter\"><table class=\"has-fixed-layout\"><thead><tr><th class=\"has-text-align-center\" data-align=\"center\">PROS<\/th><th class=\"has-text-align-center\" data-align=\"center\"><strong>CONS<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">$0 for options, ETFs, and stock trades<\/td><td class=\"has-text-align-center\" data-align=\"center\">Only available online<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">$0 account minimum&nbsp;<\/td><td class=\"has-text-align-center\" data-align=\"center\">Transaction fees on mutual funds<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Professional research and tools<\/td><td class=\"has-text-align-center\" data-align=\"center\"><\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div><\/div>\n\n\n\n<p><\/p>\n<\/div><\/div><\/div>\n<\/div><\/div><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-options-trading\">What Is Options Trading?<\/h2>\n\n\n\n<p>An option is a contract that gives the owner the right to buy or sell an asset at a specific price (strike price) by a specific date (expiration).<\/p>\n\n\n\n<p>This is based on the kind traded.&nbsp;<\/p>\n\n\n\n<p>They can be bought or gained as a form of compensation. <a href=\"https:\/\/www.publicfinanceinternational.org\/what-are-options\/\" target=\"_blank\" rel=\"noreferrer noopener\">Options are assets and have value<\/a>. The value is determined by the relationship between the underlying asset value, expiration date, and market volatility.<\/p>\n\n\n\n<p>They can be traded between private parties or in exchange trade via markets in the form of standardized contracts.<\/p>\n\n\n\n<p>To make this easier to digest, we have broken up trading into four key points:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Options contracts<\/strong><\/h3>\n\n\n\n<p>These are agreements between buyer and seller. It gives the buyer the right to buy or sell the asset at a specific date (expiration date) and an agreed-upon price (strike price).&nbsp;<\/p>\n\n\n\n<p>Contracts are used as commodities, securities, and in real estate transactions.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Premiums<\/strong><\/h3>\n\n\n\n<p>This is the market price of a contract. It is the income the seller receives for the contract.&nbsp;<\/p>\n\n\n\n<p>There are two factors for in-the-money premiums, namely, intrinsic and extrinsic value. For out-of-the-money premiums, only extrinsic value is given.&nbsp;<\/p>\n\n\n\n<p>The premium is generally valued at a dollar amount per share. Contracts generally account for 100 shares.&nbsp;<\/p>\n\n\n\n<p>The premium has more value the further away it is from expiration.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Strike price<\/strong>&nbsp;<\/h3>\n\n\n\n<p>The strike price is also known as an exercise price. It is the price at that the owner of an option can buy or sell a commodity or underlying security. The strike price could be decided by the market price of the option or commodity.<\/p>\n\n\n\n<p>The strike price can also be set at a discount or a premium.&nbsp;<\/p>\n\n\n\n<p>When an option needs delivery of the underlying instrument, the trade occurs at the strike price. This occurs regardless of the market price at the time.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Expiration<\/strong><\/h3>\n\n\n\n<p>The expiration date is the last day that contracts are valid. Before the contract expires, investors can decide to \u2018realize\u2019 the option and make a profit or loss. Or they can decide to let it expire and become worthless.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How Much Money Do You Need to Start Trading?<\/h2>\n\n\n\n<p>There is not a set amount of money you need to start trading. But, this does not mean that there aren\u2019t any costs involved. The amount that you could end up spending depends on the trading platform you use.&nbsp;<\/p>\n\n\n\n<p>To make your life a bit easier, we have listed some of our favorite trading platforms. We drew up this list keeping beginners in mind.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-to-pick-an-options-broker\">How to Pick an Options Broker?<\/h2>\n\n\n\n<p>Choosing an options trading platform can be a stressful task, especially if you\u2019re starting. Before jumping in, it is good to think about what you want.<\/p>\n\n\n\n<p>Think about your needs, wants, and goals. And, of course, your bank account.&nbsp;<\/p>\n\n\n\n<p>Do you want to be an active trader? Do you want to dabble? How much money are you willing to invest?<\/p>\n\n\n\n<p>Once you have that figured out, you can begin sorting through the thousands of online reviews to find a platform that suits your needs.<\/p>\n\n\n\n<p>Once you\u2019ve narrowed this down, the real fun begins. Here are a few things to consider:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Fees<\/strong><\/h3>\n\n\n\n<p>Now it\u2019s time to compare all of the fees to see which platform offers you the best deal. Online reviews and videos can help with this. Here are a few fees you should look at before making your decision.&nbsp;<\/p>\n\n\n\n<ul>\n<li><strong>Exercise fees:<\/strong> Exercise fees are charged when you decide to exercise an option instead of closing it<\/li>\n<\/ul>\n\n\n\n<ul>\n<li><strong>Assignment fees:<\/strong> Assignment fees are charged if you have stock from an option automatically sold or bought because the stock was exercised.&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul>\n<li><strong>Per contract fees:<\/strong> Stockbrokers can charge a base option fee as well as a commission for each contract. The fee system can have multiple tiers for trading. This offers you some flexibility.<\/li>\n<\/ul>\n\n\n\n<ul>\n<li><strong>Commission fees on trades:<\/strong> When trading online, brokers can charge a commission fee for every trade you make.&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul>\n<li><strong>Transaction fees: <\/strong>This fee is charged when buying or selling a good or service.&nbsp;<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Education<\/strong><\/h3>\n\n\n\n<p>If you\u2019re a beginner, a platform\u2019s educational content should be high on your checklist.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Customer services<\/strong><\/h3>\n\n\n\n<p>An important thing you should look at is customer service. Trading platforms usually offer live chats, phone call services, or email.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Regulation<\/strong><\/h3>\n\n\n\n<p>You should make sure that the platform you\u2019ve chosen is regulated.<strong> <\/strong>Trading platforms are regulated by the country they are based in or by third-party companies.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Safety<\/strong><\/h3>\n\n\n\n<p>When trading, make sure that the platform ensures that your personal information is secure. Investing is a risky game and being secured against hackers can give you peace of mind.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Trading Platforms<\/strong><\/h3>\n\n\n\n<p>Most trading companies offer platforms such as web-based and as desktop. There are also mobile apps. If you\u2019re a trader on the go, ensuring that the broker offers numerous platforms is something you should consider.&nbsp;<\/p>\n\n\n\n<p>In our experience, it might take a few tries to find the perfect fit. Our advice is to do your research to make an informed decision.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-buying-and-selling-options\">Buying and Selling Options<\/h2>\n\n\n\n<p>Options trading is not as straightforward as most stock trades. There are four basic order types.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-options-order-types\">Options order types<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-buy-to-open\">Buy to Open<\/h4>\n\n\n\n<p>This is a common type of options order. This works when a contract could increase in price. This method is used when you want to make a long or short position on an underlying security.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-sell-to-open\">Sell to Open<\/h4>\n\n\n\n<p>This is used if you want to open a trade and sell an option using \u2018naked calls\u2019. You can also use this to make a profit if you think the security price is at risk.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-buy-to-close\">Buy to Close<\/h4>\n\n\n\n<p>This is used if you want to close a trade. Buy to close ends your short position.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-sell-to-close\">Sell to Close<\/h4>\n\n\n\n<p>A sell-to close is used when you want to end your long position option. You can use this when you want to make a profit on an option after it goes up in value.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-advanced-options-orders\">Advanced Options Orders<\/h3>\n\n\n\n<p>Advanced option orders are option trading strategies. Here we have listed the common strategies that you can use.&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-combination-orders\">Combination Orders<\/h4>\n\n\n\n<p>This strategy involves combining put and call options when entering a trade. This strategy is also known as an &#8220;iron butterfly&#8221;.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-market-orders\">Market Orders<\/h4>\n\n\n\n<p>This lets a broker know you want to buy or sell an option at market price. There is a risk in using this method because a broker can make you wait before you buy or sell. If the market price drops, you will have an order filled at a bad price. This doesn\u2019t happen too often, but there is a risk.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-limit-orders\">Limit Orders<\/h4>\n\n\n\n<p>This lets you set the price point of a buy or sell. It can help you avoid market drops and helps you know the stock trends. You can then use this information to your advantage.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-which-vertical-option-spreads-should-you-use\">Which Vertical Option Spreads Should You Use?<\/h4>\n\n\n\n<p>There are four types of vertical spreads. These are the bull call, bear call, bull put, and bear put. Using a vertical spread, you can buy one and sell options at a higher strike simultaneously. You can do this by using both puts or calls.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-faq\">FAQ<\/h2>\n\n\n<div id=\"rank-math-faq\" class=\"rank-math-block\">\n<div class=\"rank-math-list \">\n<div id=\"faq-question-61ee75b0d1c27\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \">What is a put option?<\/h3>\n<div class=\"rank-math-answer \">\n\n<p>A put is used by investors who want to place a bet on a stock. This is usually if they think the stock price will drop. Buying a put gives you the freedom to sell shares of a stock at the strike price before the expiration date.<\/p>\n<p>This can be profitable because the value of the contract will increase as the stock drops. But, if the stock value increases, the contract value will drop.\u00a0<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-61ee75b0d1c29\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \">What is a call option?<\/h3>\n<div class=\"rank-math-answer \">\n\n<p>A call is used by investors who want to bet that the stock value will go up. Buying a call will give you the freedom to sell the shares of a stock at the strike price before the expiration date.\u00a0<\/p>\n<p>This means that the contract value is based on the value of the stock. If the stock value rises, so will the value of the option contract. But, if the stock drops, so will the  contract.\u00a0<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-61ee75b0d1c2a\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \">Is options trading risky?<\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Yes. Options trading is a leveraged investment and like most investments, it is risky. When entering any investment you are at risk of a loss.\u00a0<\/p>\n<p>This is why having education content and research are so important when choosing a trading platform.\u00a0<\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n<p><strong>You might also like:<\/strong><\/p>\n\n\n\n<ul>\n<li>Our list of the best <a href=\"https:\/\/www.publicfinanceinternational.org\/best-binary-options-brokers\/\" target=\"_blank\">Binary Options Brokers<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.publicfinanceinternational.org\/best-options-trading-platform-singapore\/\" target=\"_blank\">Options Trading Singapore <\/a>&#8211; The Ultimate Guide<\/li>\n<\/ul>\n<style class=\"advgb-styles-renderer\">.kt-accordion-id_c167f1-7d .kt-accordion-panel-inner{border-top-width:0px;border-right-width:1px;border-bottom-width:1px;border-left-width:1px;background:#ffffff;padding-top:var(--global-kb-spacing-sm, 1.5rem);padding-right:var(--global-kb-spacing-sm, 1.5rem);padding-bottom:var(--global-kb-spacing-sm, 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.kt-blocks-accordion-icon-trigger:before{background:#ffffff;}<\/style>","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":509396,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_stopmodifiedupdate":false,"_modified_date":"","ub_ctt_via":"","_important_terms":"","inline_featured_image":false,"_uag_custom_page_level_css":"","advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"categories":[13],"tags":[],"table_tags":[],"featured_image_src":"https:\/\/www.publicfinanceinternational.org\/wp-content\/uploads\/options-trading-platforms-featured.jpg","author_info":{"display_name":"Ziga Breznik","author_link":"https:\/\/www.publicfinanceinternational.org\/authors\/"},"acf":[],"author_meta":{"display_name":"Ziga 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