Of course, options trading is not without risk, which is why the novice investor would do well to steer clear of them absent close supervision by a more seasoned market hand. In the meantime, open an account with one of the online brokerages on this list and familiarize yourself with the ins and outs of its trading process, research capabilities, and account management tools. For best results, complement your brokerage account with a subscription to a premium options research platform — we recommend Motley Fool Options — to get acquainted with the options market.
These are among the best online stock brokers for low-cost options trading.
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Most offer free stock and ETF trading as well, making them one-stop shops for investors looking to build diversified equities portfolios. TradeStation has a powerful options trading setup built for active, experienced investors seeking the flexibility to trade on the go. Learn More. For more information, check out our TD Ameritrade review. You Invest by J. Morgan is one of the best stock and options trading platforms for beginners. Despite its no-frills appearance and bargain-basement pricing, You Invest is much more than a place to trade options on the fly.
For more information, check out our You Invest by J. Morgan review.
Firstrade Review | Truly Fee-Free Options Trading
Ally Invest is the investing arm of Ally Bank, a pioneering digital bank. Like You Invest by J. Morgan, it pairs an affordable self-directed trading platform with a low-cost robo-advisory solution. And the self-directed side comes with one of the best brokerage account promotions available right now.
For self-directed investors, Ally Invest has a robust trove of market analysis and research tools, plus extensive educational capabilities that increase its appeal to first-time investors. Like You Invest, aspiring options traders can feel comfortable running a managed portfolio alongside a self-directed, options-aided account here. For more information, check out our Ally Invest review. InteractiveBrokers is the best choice on this list for high-volume options traders seeking customized per-contract pricing on their preferred instruments and access to options markets outside North America.
For more information, check out our Zacks Trade review. Gatsby is a commission- and contract-fee-free options trading platform with a twist: a potentially generous rewards program that pays out on every trade. Then, get back to doing what you came to Gatsby for in the first place: trading options. Robinhood brought commission-free trading into the mainstream years ago.
Best Options Trading Platforms 2021
Webull is a commission-free online stock broker that, like Robinhood, does not charge options contract fees. Designed for the active, globally minded trader, it boasts an impressive array of analytic tools, extended-hours trading for night owls looking to capitalize on news and market moves in overseas markets, and impressive screening tools that help users hone their risk-management strategies. Still, for active investors with enough market experience to avoid getting burned, options trading can pay dividends. Not literally, of course. All Rights Reserved. Sign in. Learn more. Discover options on futures Options on futures offer nearly hour access 6 to react around potentially market moving economic events.
11 Best Options Trading Brokers and Platforms of April 2021
Options Levels Add options trading to an existing brokerage account. Important note: Options involve risk and are not suitable for all investors. For more information, please read the Characteristics and Risks of Standardized Options before you begin trading options.
Also, there are specific risks associated with covered call writing, including the risk that the underlying stock could be sold at the exercise price when the current market value is greater than the exercise price the call writer will receive. A covered call writer forgoes participation in any increase in the stock price above the call exercise price and continues to bear the downside risk of stock ownership if the stock price decreases more than the premium received.
Because of the importance of tax considerations to all options transactions, the investor considering options should consult their tax advisor as to how taxes affect the outcome of each options strategy. Commissions and other costs may be a significant factor.
Best brokers for options trading in April 2021
An options investor may lose the entire amount of their investment in a relatively short period of time. Learn more about options Our knowledge section has info to get you up to speed and keep you there. Why trade options? Watch the video to learn the four main reasons investors use options strategies in their portfolios: flexibility, leverage, hedging, and income generation.
The fully integrated OptionsPlay let's you find opportunities and instantly execute your ideas at Firstrade. Whether you are a beginner or an advanced options trader, Firstrade provides you with resources tools to improve your options trading knowledge.
React to market news during pre-market and after-market-hours sessions with extended hours trading from 8am - 8pm ET. In observance of Good Friday, the securities exchanges and Firstrade are closed on Friday, April 2, Thank you for your business. Why Choose Firstrade for Options? We provide you with the tools to get ahead Innovative trading technology, analytics, education and customer service for over 35 years. Powerful Platforms for Options traders Take advantage of our analytics tools to make more precise decisions, and trade advanced options strategies like condor, iron condor and butterfuly.
Trade options faster, smarter with Firstrade for iOS Redesigned Options Chain lets you view calls, puts and other data points all on the same screen. Quickly close complex options positions with no need to select each leg separately. Extended-Hours Trading React to market news during pre-market and after-market-hours sessions with extended hours trading from 8am - 8pm ET. Need Help? Toll Free 1.
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Online trading has inherent risk due to system response and access times that may vary due to market conditions, system performance, and other factors. An investor should understand these and additional risks before trading.