Best platform to trade options xpress

The Best Options Broker. Latest Update October 28, 2016. The best options trading platform isn’t going to be an afterthought tacked on to an existing suite of products: it should be robust and easy to use. Beginners need enough support to learn the ropes and experienced traders are after low fees and powerful tools. We signed up, assessed the fees, took the tools for a spin, and narrowed it down to three top picks. The one that's best for you depends on what you’re after. Tons of online and in-person support, plus a practice platform that lets you try everything out with “paperMoney.” The downside? Higher fees. Rock-bottom pricing, but no research or method support. Unrivaled tools & research with pricing that favors active traders. There are a lot of brokers that are perfectly capable of trading options — nearly all of the big (read: old-school) names have an options platform integrated into their suite of offerings. But for those looking to really dive in, whether as a beginner just starting out or an active trader looking to level up, the best platform won’t be something that’s just tacked on. How We Found the Best Options Broker.

To find the brokers that cater specifically to options, we looked at 36 choices and analyzed their products. We prioritized the most important aspects: Cost matters a lot when it comes to trading options. It’s the very nature: part of the appeal of options is that the returns can be major even if you don’t fork over a lot of cash up front, and many traders use options as a cheaper alternative to going long on a high-priced stock. Fees can add up and even wipe out the profits from any profitable trades. Granted, slightly higher fees may be worth it if a broker can provide other perks (say, excellent resources and education for beginners), but we wanted all our picks to have competitive pricing. We also wanted to avoid minimum balance requirements, or a set number of trades per month. Easy-to-use interfaces are a make-or-break for most platforms. The price of options contracts can swing a lot over the course of a trading day poking around a clunky options chain can literally cost you. Education and resources are important, especially for investors who are getting their feet wet. Sure you’ve got a handle on multi-leg options trades, but do you know when it’s the right time for a bull call spread? What’s an iron butterfly?

Not all traders will need hand-holding, but we wanted to find at least one excellent options broker we could recommend to newcomers. Flexibility can be interpreted a few ways. For us, it meant the robustness of the platform (could we research and purchase stocks and ETFs in addition to options?) its flexibility (could we streamline a multi-leg options trade, or did we have to input them all separately?) and whether or not we could customize it to our liking. It was quick work to eliminate the most expensive platforms, as well as the ones that had absolutely no resources or reports. To test ease of use and flexibility, we signed up for accounts and simulated making trades on all the rest. Three brokers rose to the top, and each brings something unique to the table. Our Picks for Best Options Broker. TD Ameritrade Higher fees on an ultra-easy platform. Plus, tons of support and education. TD Ameritrade is one of the largest online brokerages in the market today, with over 7 million funded customer accounts and over $700 billion in total client assets, and despite its slightly higher prices, it provides the best platform for a beginner trading any product, options or otherwise.

For more novice traders, the platform supports the jump from trading stocks with the funds in an IRA to more sophisticated products like options. It’s robust, plus it has the customer service and educational resources to make the transition. There are webinars and hours of on-demand videos that’ll teach you about options strategies and how to literally execute those strategies on the platform. TD Ameritrade is a full-service broker, and that full service (we’re talking 247 customer service and 100 branches for face-to-face consultations) does come with higher fees. Barron’s agrees, awarding it “best platform for novices” five years running. We can anticipate its service only getting better too. In 2016, TD Ameritrade started the process of acquiring Scottrade, another platform known for it’s in-person customer service offerings. In fact, TD Ameritrade is one of the best platforms for all levels of investors, serving up two discrete products: thinkorswim and Trade Architect. Thinksorswim is a desktop platform designed for an all-around trading experience: charts with real-time data, news tickers, 300-plus technical studies, alerts and alarms, heat mapping, options screeners, securities scanner, and more, all accessible in a single click. It’s definitely for seasoned investors — newcomers will likely be overwhelmed — but it’s worth bringing up because a virtual playspace called paperMoney allows even total novices to cut their teeth without risking even a single penny. We recommend beginners stick to TD Ameritrade’s web-based platform Trade Architect. It is nowhere near as robust as thinkorswim (and has nowhere near as jazzy a name), but it provides everything a new investor would want and it’s ultra-easy to use.

It’s not bogged down with all the bells and whistles and live-streaming CNBC. Tabs at the top are simply categorized under jargon-free headings: account overview, watch lists, alarms, idea generators, and heat maps. Unlike thinkorswim, the platform is customizable. If you want more widgets, like say, additional stock tickers or video, they’re there for the adding. If beginner investors use TD Ameritrade’s education library to learn the ropes, practice using paperMoney in thinkorswim, and then easily execute trades with Trade Architect, the slightly higher fee may suddenly seem worth it. OptionsHouse The lowest fees and no minimum balance requirements. OptionsHouse isn’t the most recognizable name in the industry, and that’s probably because this online broker hasn’t pursued an aggressive marketing campaign like some of the other brokers out there (remember E*Trade’s old Super Bowl ads?). The company was founded in 2005 and was established to specifically provide options traders who demanded lower fees from the then burgeoning online brokerage industry. Those low fees are still what makes OptionsHouse so popular. There’s a $0 minimum deposit to join and options trade at $4.95 + $0.50contract (stocks trade at a flat $4.95 fee). This is the lowest price in the industry. Only TradeKing comes close — matching that $4.95 options base fee, but charging $5 more than OptionsHouse for the exercise fee. The OptionsHouse platform is striking if a bit chaotic — there are buttons, tabs, and menus all over the place. It’s intuitive and there’s a tutorial to walk you through, but to a beginner it might seem more like sitting in front of the controls of an aircraft than is comfortable.

Beginners take note: OptionsHouse does have a virtual platform that’s great for practicing. And, the tradeLAB makes dissecting options spreads simple — the green smiley face is good the red frown is no good. What you won’t get for those low fees is method and research: OptionsHouse has about 30 technical studies TD Ameritrade has 300. It’s important to note that E*Trade purchased OptionsHouse for a whopping $725 million in 2016. It is still unclear how any pricing structures or account features and perks will change after the sale is completed, but an OptionsHouse blog post suggests that E*Trade’s tools and services will become available after the platforms merge. Best Tools and Research. optionsXpress A one-stop shop within a major firm, with an options-native platform. OptionsXpress was purchased by Charles Schwab back in 2011 to enhance Schwab’s competitive edge in options trading. The result is a one-stop shop with an options-native platform that’s pretty whiz-bang. Everything happens through the desktop platform, Xtend, but all the trading tools are also on the optionsXpress web platform. It’s fully customizable, and it’s easy to find real-time quotes and market data, news and reports, and company background information. The Idea Hub scans the market for volatility, earnings, and income-based strategies and offers new trade ideas. With Walk Limit, you can set a few parameters, and it will scan updated market data and re-create an order you may have made at a higher price in the past. Sign up for the Xpresso newsletter and you’ll get a daily email alerting you to the day’s risks and opportunities.

Add to that an impressive library of educational resources, as well as access to all of Charles Schwab’s investment research (and free access to its seminars and meetings at local branches), and a virtual trading platform that helps beginner investors practice all types of trading with $25,000 in fake cash. If you need help from a broker — to calm your first-timer nerves or to walk you through a complex method — they’re ready to help and totally free, too. The standard rates are steep, so we don’t recommend optionsXpress to the casual trader. Make more than 35 trades a quarter and you’ll click into “Active Trader” status and your fees will go down. Trade in volumes and there’s another discount trade contracts under a nickel and there’s another discount. This is all to say the price structure favors the active. And while optionsXpress has a $0 account minimum and does not charge any annual or inactivity fees, if you leave, there is a $60 full outgoing transfer fee. The Best Options Broker at a Glance. Options are contracts that allow an investor the right, but not the obligation, to buy or sell an asset on or before a set date. Here’s an example: Say you are a buyer looking for a specific vintage car and you end up finding one you just have to have. When you find it, however, you know you won’t have any cash to buy it for another six months. You then negotiate with the owner to give you an option to buy the car in six months for a specific amount. If the owner agrees, you pay him a percentage up front for that option.

The same scenario applies in the stock market – just for financial assets instead of vintage cars. If you were trading stocks, you’d be actually buying the car. Or, rather, not buying it since you didn’t have the money. Because options are simply options and not promises, if something happened to that vintage car — say it was sitting in the driveway and a tree fell on it — you wouldn’t have to buy it. You’d still be out the price you paid for the options contract, but at least you wouldn’t have lost all that money on a now-worthless pile of steel. And, if in those same six months something happens that makes the car go up in value, well, hey, you’ve already locked in your price. If you’re new, you should prize learning tools. If you’re experienced, you’ll need to choose between low cost or amazing tools. No matter what, options trading shouldn’t be an afterthought tacked onto your platform. Best for Beginners. TD Ameritrade TD Ameritrade fees might be higher, but sometimes you get what you pay for. Consider your entire investment method. Don’t make your final decision solely based on options trading if it’s not the only kind of trading you’ll be doing. These online brokerage firms all offer a variety of investment opportunities.

You may want to take into account their extra perks or the price of their mutual funds, for example. Know your expirations. Options are contracts that expire if they’re not acted on and an expired contract is worthless. Make sure you understand your expirations and set reminders using your broker’s platform, or on your calendar if you’re not trading every day. We find the best of everything. How? We start with the world. We narrow down our list with expert insight and cut anything that doesn't meet our standards. We hand-test the finalists. Then, we name our top picks. optionsXpress Review. By focusing on options and futures traders who want access to powerful trading tools, optionsXpress has carved out a niche as a popular specialized broker. As a Charles Schwab subsidiary that operates as a stand-alone entity, optionsXpress offers access to investment products that Charles Schwab does not offer, which continues to make them a relevant force in the industry.

Latest Update November 11, 2015. Industry-leading options tools. OptionsXpress provides some of the best options trading tools in the industry, designed to help you identify and analyze opportunities, execute trades, and monitor your options portfolio. Xtend, the company’s primary trading platform, provides continually updated market information and easy access to a variety of powerful research and analysis tools. The Dragon, an investment search tool, helps you track down the options that best fit your investment criteria. To automate your search, you can use The Screener to continually canvas the market for new trading opportunities. If you’re still working out your investment method, fire up StrategyScan, a tool that helps you identify an investment method that fits your goals, trading experience, and risk level. Whether you’re a beginner in options trading or a seasoned veteran, optionsXpress offers a number of proprietary tools to help you take full advantage of market opportunities. Superior mobile trading app. The OX Mobile app puts key features of the optionsXpress trading platform in the palm of your hand. Available for all major smartphone platforms, this app allows you to monitor live market data, check your watch lists, execute trades, and manage your account wherever you go. You can even access powerful charting tools and track down investment opportunities with The Dragon search tool. Though the OX Mobile app does not provide a virtual trading function like the apps offered by some other brokers, it still ranks near the top of the industry, garnering very strong reviews from its users. No minimum to open an account.

One big plus for prospective clients is that optionsXpress doesn’t require you to make an initial deposit to open an account. This means you can get right into the company’s trading platform to do some hands-on testing and take a look through the research materials without any financial commitment. Whether you’re new to trading or just new to optionsXpress, the ability to open an account with no investment is a nice feature to have that not even their parent company, Charles Schwab, can claim. $25,000 virtual trading account. In another offering to new traders, optionsXpress will provide you with a fake money account that allows you to carry out trades with $25,000 in virtual cash. With full access to all of the company’s trading and analysis tools, research materials, and educational resources, you can really put optionsXpress to the test. This is especially important for new traders, since you are able to build up your expertise and test out your investment strategies without putting any of your money on the line. Access to quality educational materials. Strong educational materials are key to learning how to use a new trading platform effectively and to mastering general trading skills and advanced trading strategies. The good news is that optionsXpress has a clear commitment to educating clients by offering resources for traders at all skill levels. The company’s online Education Center places an extensive collection of articles, on-demand video tutorials, and webinar courses right at your fingertips. Beginners will really appreciate the video tutorials designed to walk you through the ins and outs of the optionsXpress trading platform, which will help you get started trading in no time at all. No base fee for trading options.

Unlike some of their competitors, optionsXpress doesn’t charge any base fees on options trades. Other leading brokers assess a base fee of up to $9.99 on every options trade, in addition to $0.75 for each options contract per trade. Though optionsXpress only assesses fees on the number of contracts included in a trade, you do have to pay a minimum fee for each options trade you make. Free Investor's Business Daily subscription with account. A cool added bonus for new optionsXpress clients is a free 13-month subscription to the electronic edition of the Investor’s Business Daily newspaper, which is a trusted resource for timely investment news and analysis. Alongside the optionsXpress daily newsletters full of market news and analysis, your Investor’s Business Daily subscription will help ensure that you stay on top of important events that may affect your investment positions. High options contract fee with a required minimum. If you plan to trade options at a high volume, optionsXpress is not the ideal broker for you. The company has two fee tiers depending on the number of options trades you execute in a quarter. If you make fewer than 35 options trades per quarter, you pay $1.50 per contract with a $14.95 minimum per trade. If you make more than 35 options trades per quarter, you qualify for the Active Trader rate and pay $1.25 per contract with a $12.95 minimum charge per trade. Both tiers can be quite expensive for high-volume traders due to the high price per contract.

For example, OptionsHouse, a main competitor, charges a base fee of $8.95 for a trade plus only $0.15 for each contract involved in the trade. For traders who want to trade a large volume of options contracts, the difference in fees can be substantial. 24-hour support only available for futures traders. Though optionsXpress offers full daytime telephone and online chat support services during the week, only futures traders can access this support 24 hours per day. This makes sense, as many futures exchanges operate around the clock, while U. S. stock and options markets operate only during daytime hours. That said, it would certainly be nice if optionsXpress extended the convenience of 24-hour support to all of its traders. Lacking some financial resources. OptionsXpress isn’t your best option if you’re looking for a broker that offers comprehensive financial resources, like banking and credit or debit cards. To be fair, optionsXpress is a trading specialist and doesn’t present itself as a full-service broker. In fact, the company advises clients who need comprehensive financial services to access them through their parent company, Charles Schwab. While this is certainly an option for you, it requires opening a new account with Charles Schwab, which may be more trouble than you’re looking for. Trading Costs and Fees. Broker Assisted Trades: $0 Futures Contract Fee: $3.50 Maintenance Fees: $0 Margin Rates: 6-8.25% Minimum Account Balance Fee: $0 Mutual Funds Fee - Load: $9.95 Mutual Funds Fee - No-Load: $9.95 Options Contract Price: $1.25 - $1.50 Options Flat Fee: $12.90 - $14.94 Stock Flat Fee: $8.95. ACHEFT Withdrawal: $20 Bounced Check: $20 Check Withdrawal: $20 Domestic Wire Withdrawal: $15 Forced Margin Sellout: $0 Full Account Transfer: $60 IRA Annual Fee: $0 Partial Account Transfer: $0 Stop Payment on Check: $15 Telephone Orders: $0. We find the best of everything.

How? We start with the world. We narrow down our list with expert insight and cut anything that doesn't meet our standards. We hand-test the finalists. Then, we name our top picks. 5 Best Online Broker Platforms For Options Traders. Options trading can be simple, but can quickly get complicated. Online brokers provide customers tools to handle the tons of quotes, statistics and underlying-securities tracking they might need to succeed in trading puts and calls. IBD's 2013 Best Online Brokers Survey found the five options trading platforms that clients rated highest. They were OptionsXpress , TD Ameritrade ( AMTD ), Interactive Brokers, Charles Schwab ( SCHW ) and TradeStation . "Options can be used by a wide variety of investors to target a wide variety of objectives," said Jim Bittman, director of program development and a senior instructor for the Options Institute at the Chicago Board Options Exchange. Brokerage firms have developed platforms to help options traders of all levels, from novices who buy a call or put to advanced folks who put on multilegged positions.

While some platforms are bare-bones, others have a barrage of features such as streaming data, sophisticated analytics and pricing tools. Investors can choose a platform that's Web-based or downloaded as a separate program. A Web-based trading platform is accessed from your broker's website. These are generally less fancy and less customizable. Downloaded platforms tend to use flashier charts and tools. They also tend to give users the ability to customize screens and layouts. OptionsXpress, owned by Schwab, has offerings for clients ranging from beginners to more sophisticated traders. The broker's Web-based platform is not flashy, but is laid out well. It has easy-to-use order-entry interfaces under secondary navigations for single-option orders as well as spreads and covered calls. The company also has an all-in-one trade ticket that makes entering orders with multiple options faster and easier. Just select the method you want to put on, and the different legs of the trade will be set up for you.

OptionsXpress also has tools to help find trade ideas, as well as volatility charts and price calculators. TD Ameritrade also offers a basic, Web-based platform that has something for every level of investor. Order entries for single options, covered calls, spreads and strangles can easily be accessed under a secondary navigation. For single options orders, you can choose an exchange to handle the order or you can have it done automatically. Whether you're putting on a spread, strangle or straddle, you easily get quotes for those trades as a package rather than viewing them in individual legs. For traders who want more advanced features, TD Ameritrade offers the Trade Architect and Thinkorswim platforms. Trade Architect is a Web-based platform catering to active investors, who can select a method and get profit-and-loss graphs to see how the trade can play out. Thinkorswim, which requires a download, is TD Ameritrade's platform for advanced traders. Packed with sophisticated features, investors can monitor the market and place trades in one screen. Complex strategies can be easily placed, and investors can switch layout views to see implied volatilities and probabilities.

Interactive Brokers has two platforms for customers. One is its Web Trader platform, which has just the basics for viewing option chains and entering orders. The company also offers a much more advanced tool for options traders. Interactive Broker's OptionTrader, which is within its Trader Workstation platform, lets users view options chains, including key statistics such as implied volatilities and greeks -- a term that refers to delta, gamma and other measures of options' sensitivity to various factors. Orders for single options or combination orders can easily be entered. Buttons are conveniently placed to reverse a position or hedge it from price risk. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of NASDAQ, Inc. Best Options Trading Brokers and Platforms. NerdWallet offers financial tools and advice to help people understand their options and make the best possible decisions. The guidance we offer and info we provide are deeply researched, objective and independent. We spent over 300 hours reviewing the top online brokers before selecting the best for our readers. And to help you find the one that’s best for you, we’ve highlighted their pros, cons and current offers. Who is the best options broker today? The answer depends on whom you ask and what they value.

For some investors, the best broker for trading options is the one with the cheapest commissions. Others prioritize trading tools, platform design, research, customer service or all of the above. While most of the brokers on our best-of list below would be a good, all-encompassing choice for many investors, we’ve also highlighted the standout candidates in specific areas that matter most to options traders. Unsure what you’re looking for? See how to choose an options broker for more on what can make or break an options trading experience. Summary: Best online stock brokers for options trading. Best for low-cost. Best options trading platform. Best for research and education. Best overall for options trading. Our top picks cover all the option trader needs — access to high-quality research, analytical tools, a user-friendly platform — at reasonable prices.

TD Ameritrade and Interactive Brokers earn high marks for options investors for their advanced trading platforms, deep bench of research and tools, plus their high-caliber options trading capabilities. TD Ameritrade handily serves option traders no matter where they are on the learning curve. The broker’s thinkorswim platform offers a robust options trading experience for active investors seeking professional-grade tools to identify trading opportunities, analyze potential risks and rewards, test trade strategies and quickly place even the most complex options trades. The broker’s web-based Trade Architect platform is for investors just getting into options or those who don’t require a high-octane platform. Its stripped-down, easy-to-use interface won’t overwhelm newbies. And although Trade Architect isn’t as fully stocked with tools and data as thinkorswim, it’s no slouch, either. Intermediate investors will find advanced features like a marketoptions heat map, screening and tradefinder tools, and streaming news. Get details in our TD Ameritrade review. For cost-conscious, active options traders looking for low costs and a platform with a lot more meat on its bones, Interactive Brokers may be more your style. Interactive Brokers charges just 70 cents per contract with no base fee ($1 minimum order), plus discounts for larger volumes, if you can manage the $10,000 account minimum. Its Trader Workstation platform (with an options method lab) is considered one of the best and most sophisticated around. But watch other fees to ensure that the lower commissions pay off.

Both brokers allow prospective clients to test-drive the goods without putting any real money on the line. TD Ameritrade offers a paperMoney virtual trading account to test out the thinkorswim platform. At Interactive Brokers, once customers open a real account (which has a $10,000 minimum funding requirement), they can set up a paper trading account that offers them hands-on practice using IB’s Trader Workstation platform and tools. Best brokers for low-cost options trading. These brokers offer competitively priced options trading commissions and have eliminated or dramatically capped minimum trading fees. In early 2017 most of the mainstream online brokers slashed commissions to levels once reserved for their deep-discount peers. That doesn’t mean that they’re the best deal in town for every investor. For active options traders, eOption earns five stars from NerdWallet for its low options trade commissions. The company charges a fixed $3 base plus 15 cents per contract. Another plus: eOption is known for having some of the lowest margin rates available. Although eOption charges a $50 annual inactivity fee on accounts that have placed fewer than two trades in the past 12 months or have less than $10,000 in credit or debit balances, the minimum trade workaround isn’t onerous, even for infrequent traders. Charles Schwab’s trade commission of $4.95 base rate plus 65 cents per contract puts it within spitting distance of deep-discount peers.

Schwab recently fully took over the old OptionsXpress and incorporated that broker’s options experience into its own platform, with both web-based and mobile functionality. Commissions aren’t the only costs associated with trading options. Platform, data and other fees can quickly cancel out what you save on commissions. See our full reviews of Charles Schwab and eOption for details on what they offer. For those simply looking for a cheap way to execute options trades, Charles Schwab and eOption get the job done. Best options trading platforms. These brokers offer some of the most powerful trading platforms available for a reasonable price. Judging a broker’s trading platform by the number of features it offers is like buying a car based solely on what you read in the dealer brochure. While all investors have their must-have features, what’s more important is how the platform feels when it’s in their hands. The trading platforms at Ally Invest and TradeStation offer a wide variety of analytical tools, provide stable and speedy trade execution, and allow investors to customize the tools and design to best suit their needs. Unlike TradeStation, Ally Invest (formerly TradeKing) is technically a deep discount broker as reflected in its commissions (options traders pay a $4.95 base plus 65 cents per contract with only one base charge per spread), $0 account minimum and free access to research and data. Frequent traders (those who place 30 or more trades per quarter or who carry a balance of $100,000 or more) pay a discounted $3.95 base and 50 cents per contract. But don’t be fooled by the lower prices: Customers get a lot of platform power for free. Ally is suitable for newer options investors.

The browser-based platform resembles the offerings of its pricier competitors and comes with free options trading tools for screening and advanced charting. Navigation is easy and streamlined. Customers can create a custom dashboard with movable modules with the data and features they want to use. The setup extends to what users see across all devices, including mobile and tablet. TradeStation is best left to more experienced, tech-savvy investors who want to experience options trading using the same tools as pro traders. The broker provides all the tools needed to design, test-drive, monitor, automate and speedily execute the most complex trades via direct-market access (no pesky middleman to slow down the process). Its OptionsStation Pro platform is fully integrated into TradeStation’s regular trading platform. An added bonus is the broker’s active investor forums, where traders discuss ideas, ask questions and get help. Access to all of TradeStation’s bells and whistles used to come at a steep $99.95 monthly platform fee for those who didn’t meet account balance or trading activity minimums. But in March 2017 TradeStation eliminated the service fee, lowered its trade commissions for stocks and options and tossed in free real-time market data and free access to its market-monitoring and portfolio-level back-testing tools. Educational tools and platform tutorials are plentiful, which is a plus: Because of the sophisticated nature of the platform, it may require some time to become familiar with all that it offers. See more in our TradeStation review. Best research and options trading education. Both offer extensive research and data for free, as well as live classes and webinars for beginning and advanced options traders.

If you’re new to options trading or want to expand your trading strategies, a broker that devotes its resources to research and customer education is a must. Because Schwab and Fidelity each have offices across the country in addition to their online options education libraries, they’re able to offer in-person guidance and free seminars on how to trade options, as well as one-on-one guidance on using the tools each platform offers. Fidelity’s constantly refreshed library draws from more than 20 providers, including Recognia, Ned Davis, S&P Capital IQ and McLean Capital Management. The full suite is available to customers when they sign into the broker’s web-based platform. And you don’t have to stop digging when you’re away from your computer: Fidelity has a strong mobile app that lets customers access the company’s full suite of research through a mobile browser. Charles Schwab’s options trading capabilities and lineup of trading data and research got a big boost as the company integrated its purchase of OptionsXpress. In October Schwab re-launched its online platform under the StreetSmart name, with both web-based and mobile functionality, though for now only former OptionsXpress clients have access to the new platform. In the first quarter of 2018, Schwab will begin rolling out the new platform to all clients. While the platform name is changing, Schwab still provides a fully realized suite of offerings for options traders, including trade assessment tools, customizable screeners, access to Schwab analyst options-market commentary, live online webinars and pre-recorded seminars. Best brokers for beginner options investors.

These brokers provide ideal conditions (educational resources, user-friendly platforms, customer support and low minimums) for investors just learning the options trading ropes. TD Ameritrade — one of our top overall brokers — ranked highest in this category, too. But since there are many types of beginners with many different preferences, instead of highlighting the category champions we’ve focused on brokers that are excellent candidates in three key areas: Low minimum opening balance requirements. Ally Invest, TD Ameritrade, Merrill Edge: If you’re not yet ready to devote a lot of your capital to options trading, you don’t want to tie up much in an account to meet the minimum. Many of the brokers on our list require no money to open an account. However, industry regulations require that traders maintain a $2,000 minimum to trade options. Strong customer support. Scottrade and TD Ameritrade: On-call help is particularly handy when starting out. One way to test a broker’s level of service is to contact the company with any questions you have about its option trading offerings before you even open an account. Scottrade is known for its standout customer service and huge physical presence of 500 branches.

So is TD Ameritrade, with around-the-clock phone and email support and 100 branches where clients can attend seminars and meet with investment associates. At the end of 2017, TD’s acquisition of Scottrade will be complete, increasing each broker’s ability to serve clients. User-friendly platforms. Ally, Charles Schwab and TD Ameritrade: There’s nothing better than test-driving a broker’s platform before you commit. Check to see if the broker you’re considering offers paper trading (virtual trading on a platform that mimics the real deal) or contact customer service to see if they will set you up with a demo account. As for brokers discussed in this review, Ally Invest’s browser-based platform is intuitive and easy to customize. And both Charles Schwab and TD Ameritrade have multiple platforms customers can use to start learning the ropes, then graduate to more sophisticated tools and trades if desired. Best options trading brokers: summary. Updated June 30, 2017. Disclaimer: NerdWallet has entered into referral and advertising arrangements with certain broker-dealers under which we receive compensation (in the form of flat fees per qualifying action) when you click on links to our partner broker-dealers andor submit an application or get approved for a brokerage account. At times, we may receive incentives (such as an increase in the flat fee) depending on how many users click on links to the broker-dealer and complete a qualifying action. Top 7 Best Futures Brokers for Futures Trading | 2017 Ranking | Best Futures Trading Platforms.

2017 RANKING & REVIEWS. TOP RANKING BEST FUTURES BROKERS. Intro &ndash 2017 Review of the Best Futures Brokers for Futures Trading. Identifying the top futures trading site or best futures broker can be a daunting undertaking, especially due to the wide-ranging landscape of the futures and commodity sectors. In addition, comparing the many different features offered by various futures brokers can add considerably to your challenge in finding the top futures broker that can best meet your needs. Essential Features to Look for When Searching for a Top Futures Broker. Some key features to consider when searching for the best futures broker to meet your futures trading needs include: Extremely fast trade execution An easy-to-use interface A transparent fee structure Low &ldquoper contract&rdquo commission fees 247 trading capabilities A highly advanced mobile app Cutting-edge technological platform Access to futures exchanges across the world. So, based on the wide-ranging spectrum of futures trading platforms and futures broker fees, how are you supposed to find time to conduct the detailed comparison research needed to identify the best futures brokers for futures trading? Well, that&rsquos where AdvisoryHQ comes in. Award Emblem: Top 7 Best Futures Brokers for Futures Trading. AdvisoryHQ's List of the Top 7 Best Futures Brokers. List is sorted alphabetically (click any of the names below to go directly to the detailed review section for that futures broker) Top 7 Best Futures Brokers | Brief Comparison & Ranking.

Min. Deposit to Open Account. $1.50 per contract Futures fees & NFA fees apply. Simple fee structure: $0.59 commission for all trades. $10,000 for individual accounts, $5,000 for advisor and broker clients, $3,000 for age 25 and under. Fixed plan: $0.85 per contract Tiered plan: $0.25&ndash0.85 per contract, based on monthly trading volume. MB Trading (TradeKing) 1&ndash250 monthly contracts: $0.85 per contract 251&ndash2000: $0.65 per contract >2000: $0.45 per contract. $3.50 fee per contract. $2.25 fee per contract. $1.20 fee per side (bundled). For unbundled fees, please see monthly rates below: Table: Top 7 Best Futures Brokers | Above list is sorted alphabetically. Although some futures trading firms might require $0 to open an account, they&rsquore still required to follow the requirements stipulated by most futures trading exchanges where futures are traded. As such, although you might see a $0 account opening requirement, note that you&rsquoll need to deposit $2000 in a margin account before you can trade most products. In addition to the fees listed above, each futures trading firm also charges fees that need to be paid to the futures trading exchanges and also to the National Futures Association (NFA).

The NFA is the self-regulatory organization for the U. S. derivatives industry, including on-exchange traded futures. NFA regulatory fees are assessed as having a current average of $0.01 per side. Click the link below for a sample list of the futures trading fees charged by the respective futures exchanges. Generating This Year&rsquos List of Best Futures Trading Platforms. How did AdvisoryHQ determine this year&rsquos list of the top futures trading brokers? In finalizing the list of top futures brokers and best futures trading platforms presented below, the AdvisoryHQ research team started out with a much larger list of over 56 trading platforms. The team reviewed TD Ameritrade, E*TRADE, Interactive Brokers, MB Trading, Lightspeed, optionsXpress, TradeStation, Generic Trade, TradeMonster, Advantage Futures, CannonTrading, AMP Futures Trading Supercenter, Daniels Trading, NinjaTrader, and other futures brokerages. We applied rating scores based on various selection criteria, including: Trading commission Account fees Analytical tools Simulators Tradable markets Access to global futures exchanges Fast execution Popularity & consumer reviews Level of customer support Ease of use Promotions Selection of investment products Highly graphical charts Reporting. In the process, we narrowed the list down to the 7 best futures brokers presented in this review publication. For more information on our selection methodology, see the section below. AdvisoryHQ&rsquos Selection Methodology.

What methodology does AdvisoryHQ use in selecting and finalizing the credit cards, financial products, firms, services, and products that are ranked on its various top-rated lists? Please click here &ldquoAdvisoryHQ&rsquos Ranking Methodologies&rdquo for a detailed review of AdvisoryHQ&rsquos selection methodologies for ranking top-rated credit cards, financial accounts, firms, products, and services. Detailed Review &ndash Top Ranking Best Futures Brokers. Below, please find a detailed review of each stock broker on our list of best futures brokers. We have highlighted some of the factors that allowed these top futures brokers to score so high in our selection ranking. E*TRADE is proud of having conducted the first-ever electronic trade by an individual investor over 30 years ago, and they have been a leading futures trading firm ever since. Key Factors That Led to Our Ranking of This as One of the Best Futures Brokers. Below, please find a list of the features that enabled us to rank E*TRADE as one of the top futures trading brokers. The benefits of using E*TRADE, one of the best futures trading platforms, include: Trade more than 200 futures products Advanced trading tools Flat, low commissions Get professional insights & advice Easy-to-use trading tools Live order status from order placement through confirmation Experienced futures support team available for assistance Reduced margin requirements by 50% per futures contract $1.50 per contract, no matter how often you trade. Futures Trading Firm Process. E*TRADE is well-known as a top rated online stock trading platform. In addition to this high rating, it is also one of the top firms on our best futures brokers list. E*TRADE provides highly advanced futures trading tools that allow you to trade over 200 futures trading products. You are provided with a live order status from the order placement through confirmation.

E*TRADE has a highly-experienced futures support team on standby for any questions or assistance you may need. The platform offers you the ability to directly access every major futures market in the world. Accessibility & Informational Tools. Access all of your accounts, positions, and streaming quotes on one page (stocks, options, futures, etc.). E*TRADE offers a 25% day trading margin for indexes, currencies, and treasuries. Customer service is available 247 (call, Internet chat or email). As one of the top futures brokers, E*TRADE is dedicated to empowering investors to make smart financial decisions while using futures trading exchanges. On the firm&rsquos website, you can find top-quality educational content, including analytical and research tools. Generic Trade applies a &ldquosimplicity approach&rdquo to futures trading, which is a refreshing difference from the complex futures trading rate structure, based on volume or account size, which you would find with other futures brokers. Key Factors That Led to Our Ranking of This as One of the Best Futures Brokers. Below, please find a list of the features that enabled us to rank Generic Trade as one of the top futures trading brokers. This online futures broker is a true deep discount futures firm, charging only 59¢ commission for all trades (futures or options on futures).

Additionally, Generic Trade offers the lowest possible margins allowed by futures exchanges, and it offers aggressive day trading margins as well. Impressive Range of Features. Based on the factors listed below, Generic Trade is rated as one of the &ldquotop best&rdquo futures brokers of the year. Highly advanced trading platform Blazing-fast execution speed Top reliability & functionality Cutting-edge & innovative trading infrastructure High-level safeguards & security 24-hour support Highly transparent fee disclosure structure Instantaneous combined futures account information Free real-time charts Trade markets around the globe Low cost + advanced trading capabilities = great value ​ Interactive Brokers Review. Interactive Brokers provides two simple low-cost plans (fixed and tiered plan pricing) for trading futures and futures options. The firm&rsquos advanced trading applications provide specialized futures, like trading tools and a US futures market scanner. Key Factors That Led to Our Ranking of This as One of the Best Futures Brokers. Below, please find a list of the features that enabled us to rank Interactive Brokers as one of the top futures trading brokers. At Interactive Brokers, futures trading margins are based on risk-based algorithms. You can quickly gain market insight by using Interactive Brokers&rsquo futures arbitrage and interest rates tables. Using Interactive Brokers&rsquo futures platform, you can trade a wide range of futures products, including agriculture, currency, energy, equity index, fixed-income, metals, and volatility futures. With Interactive Brokers&rsquo platform, you can trade futures, futures options, and commodities across over 100 global financial markets.

As an integrated tool, the platform enables you to trade futures and futures options in combination with stocks, ETFs, and options worldwide, all from a single screen. In 2015, MB Trading was acquired by TradeKing, extending the investment product services available to both sets of investors. Now offered by TradeKing, MB Trading offers first-class futures trading exchanges at low cost to investos, making it one of the top futures brokers in 2017. Key Factors That Led to Our Ranking of This as One of the Best Futures Brokers. Below, please find a list of the features that enabled us to rank MB Trading as one of the top futures trading brokers. Competitive Pricing Structure. As one of the top futures brokers, MB Trading offers a competitive pricing structure for those interested in future trading. Their pricing structure includes: Trade at least 2,001 contracts and pay $0.45 per contract plus exchange and other fees Trade 251&ndash2000 contracts a month and pay $0.65 per contract plus exchange and other fees Trade 1&ndash250 contracts a month and pay $0.85 per contract plus exchange and other fees. Connect directly to the CME, NYMEX, CBOT, and COMEX exchanges with MD Trading&rsquos MBTX proprietary order routing and get the best available prices and venues to execute futures orders. With the acquisition by TradeKing, MD Trading offers a wide variety of futures order types, including Stop Limit, Stop Market, Market+TTO, Stop+TTO, and more. Futures account types serviced by MD Trading include individual, trust, custodial accounts, foreign classification, and more.

Owned by Charles Schwab, optionsXpress is one of this year&rsquos most highly rated top futures trading platforms. Year after year, optionsXpress has been considered a &ldquobest futures broker&rdquo by numerous review journals and publications . In 2017, the popular financial publication NerdWallet ranked optionsXpress as a top futures trading firm with 4.55 stars. Key Factors That Led to Our Ranking of This as One of the Best Futures Brokers. Below, please find a list of the features that enabled us to rank optionsXpress as one of the top futures trading brokers. Effective Trading Platform. With optionsXpress, you can trade around the clock (247) and react to market-moving news and events day or night. Using optionsXpress&rsquos desktop or mobile futures trading platform, you can execute your ideas anywhere, with access to exchanges and products across the globe. For investors who are new to futures trading–or who simply want to learn a little more about the process–optionsXpress provides valuable educational tools and resources. Investors can access free webinars, method papers, and newsletters.

With advanced orders, you can automatically lock in gains or help protect against losses with contingent orderstrailing stops No broker assistance fees Advanced trading futures tools allow you to get fast and accurate electronic executions in some of the world&rsquos most liquid markets Choose from dozens of technical studies to create fully customizable streaming charts Power browser-based tools or advanced mobile trading tools Receive real-time Dow Jones news and daily research insights. With over 40 years of experience, TD Ameritrade has been a leader among the best futures trading platforms. With TD Ameritrade's thinkorswim trading platform, you get a completely integrated set of tools that allows you to trade futures, options, stocks, fixed assets, and a wide range of investing products. Key Factors That Led to Our Ranking of This as One of the Best Futures Brokers. Below, please find a list of the features that enabled us to rank TD Ameritrade as one of the top futures trading brokers. Competitive Pricing Structure. TD Ameritrade futures trading fees (futures & options on futures) are $2.25 per contract. Exchange and regulatory fees are added afterwards, with fees depending on exchange and product. This transparent pricing structure includes commission and regulatory fees, creating hassle-free future trading. Unlike other futures trading firms, TD Ameritrade does not charge subscription fees for studies and insights, including insights from futures trading experts such as John Carter and John Person. Powerful Trading Platforms. With TD Ameritrade apps, like Mobile Trader, you can trade futures directly from your mobile device.

Ranked as the #1 trading app in 2016, Mobile Trader is one of the best futures trading platforms available. You can also paper trade with TD Ameritrade&rsquos paperMoney, download customized charts, and get live market news from CNBC. TD Ameritrade's thinkorswim futures trading platform is a top performing derivatives trading platform designed for serious futures traders. Get 247 customer service support and free education seminars and resources (speak to a trading specialist anytime). TD Ameritrade offers pairs trading integration, access to live futures pit audio, free futures trading platform support, and interactive education, such as weekly webcasts, online courses, and live workshops. Over the years, TradeStation has won numerous awards and accolades from Investor&rsquos Business Daily , Barron&rsquos , and other top publications as well as the award of best futures trading broker. With TradeStation's future trading platform, you get direct access to every US futures exchange, as well as Eurex and NYSE Liffe London products. ( Update : We&rsquove received a few notifications in which users have complained that they were not able to trade on every futures market as promised by TradeStation.) Key Factors That Led to Our Ranking of This as One of the Best Futures Brokers. Below, please find a list of the features that enabled us to rank TradeStation as one of the top futures trading brokers. Advanced Futures Trading Platform. TradeStation's futures trading platform provides more data, speed, and analytical power than even the most advanced futures traders&rsquo demands.

With the advanced futures trading platform offered through TradeStation, traders have the ability to create, back-test, optimize, and fully customize their trading strategies. See below for additional features that allowed TradeStation to rank as one of this year&rsquos top performing futures brokers for trading futures. Automate your trading &ndash automate virtually any futures trading method with EasyLanguage Backtest strategies with decades of custom, continuous contract data Trade futures with one-click trading directly from charts, the matrix, and more Futures trading fees: $1.20 per side, per contract for futures options and futures contract Unbundled monthly contract futures fees: 25¢ to $1.20 per side, per contract (<300 contracts: $1.20, 301&ndash1000 contracts: $1.00, 1001&ndash10,000 contracts: $0.65, 10,001&ndash20,000 contracts: $0.45, >20,000 contracts: $0.25) Scan all futures markets in one window Get lightning-fast executions of your orders Advance platform comes with advanced trade opportunity scanning Exchanges include CBOT, CFE, CME, EUREX, EURONEXT LIFFE, ICE, KCBT, NYMEX COMEX, and NYSE LIFFE U. S. _. Conclusion: How Did We Select the Best Futures Brokers for Future Trading? When professional futures traders conduct research to find the best futures trading site to meet their needs, they normally consider the seven variables below to determine the futures trading platform or online futures broker that fits their trading and investing requirements the best. When conducting our research to perform a futures trading platform comparison and review, which are presented in this article, we integrated the seven factors below as part of our due diligence methodology. While our review of the top futures brokers provides valuable information for investors looking for top futures trading brokers and the best futures trading platforms, you may want to do your own research. Take a look at the chart below to see these seven factors to ensure that you can find the best futures trading platforms for your future trading investments. ​Although AdvisoryHQ's research and editorial team cannot recommend the best futures broker for you , we believe that the futures trading platform comparison reviews presented in this article will go a long way in helping you make your decision. When searching for the best futures trading software, you&rsquoll need to consider the fee (commission) per contract. The commission will be charged &ldquoper side&rdquo (buyingselling the contract) and will vary according to which online futures trading platform you trade with and sometimes according to your account balance. You&rsquoll need to consider the total in fees when selecting a futures trading broker to meet your needs.

The total in fees will include commission and NFA (National Futures Association) and exchange fees. Exchange fees vary according to what the contract is for and the party you are trading with. In addition to fees, you&rsquoll also want to select a top futures broker that provides advanced computational capabilities for fast execution. When markets go into rapid overdrive (i. e., a major surge or plunge based on breaking news), slow execution could result in tremendous losses. Analysis Tools and Trading Platform. Other factors you&rsquoll want to consider before selecting one of these best brokers for your futures trading needs is a broker that provides advanced research, analytics, and trading tools. Trading can be stressful enough. If you have questions or concerns that need answering, you want fast access to friendly and well-experienced support. The trading firms on our top futures brokers list are all renowned for having quality customer service. Ease of use is another top factor for ranking a top futures trading platform. A platform won&rsquot be highly effective if it is too complicated or nonintuitive. As part of our futures brokers commission comparison, we focused on the best futures trading platforms that provided the most efficient user interfaces. Lastly, conducting futures trading platform reviews require an extensive review of intangible elements. Such elements include the legitimacy and reputation of the broker, promotions, and any awardsaccolades received.

Reasonable efforts have been made to present accurate information, however all info is presented without warranty. Review AdvisoryHQ&rsquos Terms for details. Also review each firm&rsquos site for the most updated data, rates and info. Note: Firms and products, including the one(s) reviewed above, may be our affiliates. Click to view our advertiser disclosures. LATEST RELATED ARTICLES. Top 6 Best Forex Brokers & Trading Sites | 2017 Ranking & Reviews | Best Forex Trading Platforms. Top 6 Best Online Stock Brokers (Ranking of the Top Discount Brokerage Firms) Top 6 Best Options Trading Platforms. Top 6 Best Online Trading Platforms | 2017 Ranking | Best Online Trading Sites & Top Trading Platforms. Top 5 Best Forex Brokers – UK | Ranking | Top UK Forex Broker Trading Platforms. Top 6 Best Discount Brokers | 2017 Ranking | Best Discount Brokerage Firms for Trading Accounts. Top 6 Best Futures Trading Brokers (2017 Trading Platform Reviews) Top 5 Best Penny Stock Brokers | 2017 Ranking | Best Penny Stock Trading Platforms for Penny Trading. Follow AdvisoryHQ On: Copyright © 2016-2017. AdvisoryHQ (All Rights Reserved)