facebookWhich brokerage firm is the best for options trading? - Seedly

Anonymous

13 Oct 2020

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General Investing

Which brokerage firm is the best for options trading?

Thinking of buying long term call options for investment, which is the best brokerage in commission and UI for it?

Discussion (4)

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I've personally tried thinkorswim from TD Ameritrade and Saxo markets. Thinkorswim wins without a doubt. I love the variety of products on the options chain and the stratergy analyzer is amazingly helpful.

Nicholas Beh

12 Oct 2020

Student Ambassador 2020/21 at Seedly

For options trading, TD Ameritrade's Thinkorswim platform seems to be a crowd favorite with advanced charting features, and low commissions ($0.70 per trade). Other popular options include Tiger Brokers and Interactive Brokers.

One of the answers below suggested Etoro. I would strongly discourage against using them as they are a CFD provider and do not actually offer options trading.

With that said, options are a high-risk derivative product. There is potential for 100% loss (e.g. you buy an option that expires OTM) or even losses greater than your invested amount (e.g. you write a cash-covered option that becomes ITM). Do exercise proper due diligence before investing into options!

Etoro...

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