Interactive Brokers also offers a web-based platform, called IBKR WebTrader, and a mobile app, called IBKR Mobile, which provide access to some of the options trading tools and features available on TWS. It also offers a wealth of research and education resources, such as the Traders’ Insight, the IBKR Quant Blog, the IBKR Campus, and the IBKR Webinars.
Interactive Brokers is designed for professional and high-volume options traders, as it offers a low-cost and high-performance platform. However, it also has some limitations, such as a steep learning curve, a complex interface, and a high minimum deposit of $10,000 for regular accounts and $100,000 for portfolio margin accounts.
E*TRADE: Best for Beginner Options Traders
E*TRADE is our top choice for the best options trading platform for beginners, as it offers a simple and intuitive platform that allows users to learn and practice options trading with ease.
E*TRADE charges $0 per trade for stocks and ETFs, and $0.65 per contract for options. It also offers a wide range of investment products, such as mutual funds, bonds, forex, futures, and options on futures.
ETRADE’s platform, called Power ETRADE, is a web-based platform that offers a variety of options trading features, such as the Options Chain, the Strategy Scanner, the Trade Lab, and the Snapshot Analysis. These features allow users to view, analyze, and execute options trades, as well as see the potential risk and reward of each trade.
ETRADE also offers a mobile app, called ETRADE Mobile, which provides access to some of the options trading tools and features available on Power ETRADE. It also offers a desktop platform, called ETRADE Pro, which is more suitable for advanced and active traders, as it offers more options trading features, such as the OptionsHouse, the LiveAction, the StrategySEEK, and the TradeCYCLE.
ETRADE also offers a wealth of research and education resources, such as the ETRADE Knowledge, the ETRADE Education Center, the ETRADE Webinars, and the E*TRADE Community. These resources help users learn the basics and advanced concepts of options trading, access market data and news, and interact with other traders and experts.
