The 4 Best Platforms For Trading Options

What are the best options trading platforms? If you are done with trading stocks and mutual funds, you can try out options trading. Even though the stakes are high and scenarios will be cut-throat, you'll get a lot of exposure. You can use options trading to gain more revenue, diversify your portfolio, and better understand the market. Any investor can do trading options if they know the basics and take a bit of risk. As trading options is a little more complicated than buying stocks, you'll need an options broker to help you. You'll find many options trading platforms online to get started, so it's possible to be confused. To make your life a bit easier, we have curated the best options trading platforms here. Let's dive in!

The 4 Best Platforms For Trading Options
The 4 Best Platforms For Trading Options

What is Options Trading?

Options trading enables you to sell or purchase a stock at a specific price later in the future. As you get an option to buy or sell, it's called stock options. But there are also options on stock indices and exchange-traded funds.

These options are contracts that are linked to an underlying asset, such as security or stock. So, when you purchase an option, you can trade the associated asset too. If you trade this asset, it will be called exercising the option.

There are some terms you need to understand for better options trading:

  • Put Option - This type of option to sell a stock at a specific price in the future
  • Call Option - This type of option to buy a stock at a particular price in the future
  • Strike Price - The price offered by the option at which you can purchase or sell a stock
  • Premium - It is the expense of buying an option's contract

Top Options Trading Platform

Comparison Factors



TD Ameritrade


Interactive Brokers

Ideal Users 

Ideal for experienced traders

Beginners, casual and active traders

Beginners and seasoned traders

Beginners and seasoned traders

Experienced options traders

Educational Content 

Huge library of learning resources

Decent collection of content

Top-notch educational and research tools

Insufficient educational content

Robust learning platform for users


Low commissions ($1/option contract)

Low commissions ($0.65/option contract)

Low commissions ($0.65/option contract)

No commissions

$0/options trade, $0.25-$0.65/ contract

Are you looking for the best broker for options?

Then you have to understand these financial instruments better and find a trading platform that suits you. As options trading gives you excellent returns and a high-profit margin, the competition is very high here. So, the right options trading platform will offer you the tools to be a successful trader.

Check out these fantastic options trading platforms we have reviewed:



sign up for tastyworks

what tastyworks looks like


This is a brokerage platform targeted specifically at convenient options trading. It is ideal for experienced options traders but can also be helpful if you are a beginner. 

The platform provides you with the technology and tools to support your options trading journey focusing mainly on derivatives trading.


After creating your brokerage account on the website, you will access your trading dashboard journal, watchlist, portfolio, and financial news.

You can easily personalize your account according to your preferences, like rearranging the widgets layout and chart settings. The mobile app is also seamless, like the desktop platform. Active options traders will love this platform as it gives them all the necessary tools to evaluate the profitability of a stock.

While options trading, you have two views - the curve and the table. Using both, you can access trading strategies such as straddle and butterfly. In addition, the charting tool is interactive, allowing you to understand your chances of making a profit from the trade.

For example, if there are multiple positions for a specific stock, you can analyze your combined risk profile for the associated asset. Also, there are unique calculators and tools for evaluating the volatility and probability of a specific trading strategy.


  • The trading platform offers a massive library of options trading educational resources
  • Built-in tools for analyzing trading assessing risk profiles, and understanding stock profitability
  • It offers real-time quote streaming, market reports, and news
  • You get live chat support and can consult a live broker


  • The options trading platform might be confusing for absolute beginners
  • No fixed income trading and fewer account amenities



signing up for e*trade

etrade dashboard


This is another excellent options trading platform and offers the best investment functionalities for all types of traders. So, beginner investors in options trading will find this platform useful. Moreover, the trading platform offers two trading apps to attract active options traders.

It's so good that even Morgan Stanley has acquired it for better stock transactions!


This trading platform offers simple functionalities and controls that any beginner will enjoy. It has a user-friendly interface that you can customize according to your preferences. This trading platform provides portfolio analysis, market news, and streaming quotes for passive online trading.

You can easily check your account information market status and related resources on the web platform. You get plenty of choices for options trading, including OTCBB (Penny stocks), mutual funds, bonds, futures options, and Bitcoin futures.

Along with this, you get risk analysis features and automated charts understanding patterns. In addition, the snapshot analysis tool enables you to understand the probabilities and maximum profit associated with any trade.

Along with excellent trading tools charting tools, this robust trading platform offers two applications - Power E trade Mobile and E trade Mobile. These offer data streaming and live news sourced from Bloomberg TV.

You also get drawing tools within the chatting feature of the apps. Further, the Power E trade app will be ideal for casual and active traders.


  • The Power e trade options trading platform provides apps for casual and active traders
  • Integrated portfolio builder in your brokerage account
  • Robo-advisor portfolio management and goal tracking
  • Easy to use application and desktop platform


  • You can't access international exchanges here
  • You can only access fractional share purchase through a dividend reinvestment plan

TD Ameritrade

td ameritrade

sign up for td ameritrade

trading on tdameritrade


The next entry on our list of best options trading platforms is TD Ameritrade. The platform has become popular due to its amazing web interface and mobile application. Whether futures trading, options trading, or day trading, the platform stands apart with its functionalities.


The options trading platform is ideal for options traders of various skill levels. One of its most popular trading tools is thinkorswim desktop charting, which offers you real-time data charts. You can look at over 400 studies and customize them using thinkScript.

This thinkorswim offers excellent trading tools, including trading using fake money, earning analysis, social sentiment charting, and real-time stock scanning. It enables options traders to share trading charts, along with options and stock trade analysis. Plus, the trading costs are also reasonable.

No matter your trading style, TD Ameritrade offers all features to accommodate it. That's why casual and active traders both love the platform. You'll like the Earnings Analysis tool, which fetches information from Wall Street analysts. It will help make better investment decisions.

Options trading brokers love the comprehensive research tools for better investments. You can check out the TD Ameritrade Network, which livestreams finance news and offers outstanding market analysis.

You also receive daily stock market commentary and analysis reports from The Ticker Tape portal. Both these facilities work as excellent educational tools.


  • Outstanding educational and research tools
  • The thinkorswim functionality streams real-time charts for better analysis
  • An excellent platform for seasoned and beginner traders


  • No access to forex and international stock markets
  • The platform doesn't support Cryptocurrencies such as Bitcoin and Ethereum



webull sign up



This platform has become popular among traders as it doesn't ask for commissions. It is a relatively new options trading platform in the investment arena but has become famous.

Webull doesn't charge anything for options trading, stock, and ETF trades. So, experienced traders and beginners like the platform very much. That's why it is considered one of the best low-cost options trading platforms.


The only fees you have to bear are margin trading, advanced data, short sales, and some expenses for regulators while trading. For most options trading operations, you don't have to pay a dime.

Targeted at investors who don't like Commission fees or account minimums, it provides a DIY approach for portfolio management. However, the desktop site and mobile application are well-designed and very user-friendly.

You get quote boards, a stock screener, a market overview page, an account tab displaying balances, buying power risk level bank transfers, and associated information. Also, you can easily create watchlists which is consistent between the mobile application and desktop site.

In addition, you get a straightforward order entry and customizable trading ticket info for the share amounts and order types you want to use.


  • No commissions for options trading, ETF, cryptocurrency, or stocks
  • User-friendly platform mobile and web
  • Real-time quote streaming and 3-month subscription for Level 2 Advance quotes
  • Suitable for advanced traders and beginners


  • You don't have any access to mutual funds foreign exchange for fixed income
  • The platform lacks portfolio management tools

Interactive Brokers

interactive brokers

trading platforms

interactive brokers dashboard


Interactive brokers are famous for their affordable margin fees, expenses, and high-quality features targeted at advanced traders. Also loved by active options traders, it's famous for offering exposure to global markets (over 135 markets).

It accommodates day trading, options trading, and futures trading. You'll be surprised to know the platform offers more than 68 types of orders! So, intermediate traders also prefer this platform.


If you are an experienced trader, you might sign up for the IBKR lite account, offering free stock and ETF trades. You get 6 pricing for options trading with this account. But if you want to trade with higher trade options, you can upgrade to the IBKR Pro account.

That's not all! You get the Trader Workstation (TWS), a comprehensive platform supporting all options traders.

You get a variety of exciting tools under this platform -

  • Algo trading
  • Options Strategy Lab
  • Volatility Lab
  • Risk Navigator
  • Market Scanner
  • Strategy Builder
  • Portfolio Builder

The watch lists include options contracts, forex, and equities. For column customization, there are 494 data points!

Another excellent feature is IBot which is available on TWS mobile. Artificial intelligence handles customer requests through chat and supports quotes, orders, and related questions.

If you are new to the game, Interactive Brokers offers all the useful features on their web platform for managing a basic portfolio and trading. The company calls it Portal, and it offers primary feeding functionalities to IBKR Lite customers.


  • Access to international markets and professional trading features
  • Top-notch mobile application and web platform
  • Excellent for experienced traders
  • Trader Workstation offers plenty of features for trading


  • It might not be suitable for beginners
  • Research and navigation is a little difficult

How to Choose the Best Options Trading Platform

There are many options for trading platforms online, but you have to find one that suits your interests. So, opening your account, check out these factors to land on the perfect platform.


Whether you're a beginner or an experienced investor, the platform needs to be user-friendly. So, you have to check the simplicity of opening an account, investing, making deposits, withdrawing earnings, and analyzing stock performance processes.

Educational Resources

A high-quality trading platform will have ample educational content to understand the basics of options trading. Check out the videos, webinars, articles, and research tools available on the platform.

Along with all this, basic functionalities must be convenient to understand and operate. All this is important for a hassle-free trading experience and improving your chances of profit.

Pricing and Commission

No matter how amazing a platform's features are, it all starts with the pricing and commission structure. This structure might be complicated on some platforms, so understand it before opening an account.

Some platforms might not charge any commissions, while some may charge $1 or more for the trades. Always talk to the customer service professionals of the platform to understand the pricing clearly. It is important as it will affect your income from the trades in the future.

Frequently Asked Questions

If you still have any questions regarding options trading platforms, check out these questions to get some more clarity.

Which is the Best Broker for Options?

The best options trading platform will depend upon your preferences and expertise. All the platforms discussed above are high quality in terms of service and user-friendliness.

If you are a beginner, the E*TRADE platform might be an excellent choice. It offers the Perfect Combination of educational resources, interactive design, and trading facilities. Plus, there are two trading apps which you can use according to your experience.

For seasoned investors, Interactive Brokers is an outstanding platform for options trading. With a huge collection of trading tools under the Trader Workstation (TWS), you can implement advanced options strategies. You can also test strategies while experimenting with the tools.

What are the Different Types of Brokers?

While searching for the best options trading brokers, you will come across two types - full service and discount brokers.

Full-service online brokers offer individual assistance and advice. These professionals will scope out the best trading avenues and determine the perfect time and price for the investment.

You can meet them in person and discuss your requirements. However, they might charge a certain amount as commission for every trade you participate in.

On the other hand discount, brokers charge lower commissions and conduct your trades. They don't provide you any additional assistance or advice and work on lower operational costs. Such an online broker is ideal for beginner traders.

Can You Trade Options in a Brokerage Account?

Yes, you can read your purchase options using your brokerage account. The account needs approval for trading options before moving forward. You might have to provide financial details like your primary salary, income tax returns, bank statements, and salary slips to get the account up and running.

You need this account to start whatever your training objective might be - income generation, speculation, or hedging. You might have to provide additional information like investment experience and options you prefer to trade.

The broker will assign a trading level based on your risk appetite (1 to 5) based on this information. The best options trading platforms will make this process more convenient for you.

Can You Get Rich from Options Trading?

Yes, you can indeed get rich by trading options. As an option contract is a representation of an underlying stock or many, you can profit by controlling multiple shares of your preferred growth stock.

On the contrary, it might not necessarily be as profitable if you bought individual shares with the same money.

While purchasing options, you have to focus on selecting the cheapest ones having the most extended expiration. However, when you're writing options, try looking for the one with the shortest expiration to limit the liability. Try buying options with low implied volatility to reduce the risk of a significant loss.

The Bottom Line

Selecting the best options trading platform is the first step in entering the world of option investments. The right platform and broker will lay the foundation for a profitable future in options trading.

So, perform your research well on these platforms before getting started. Check online for resources to understand options trading better and how these platforms operate.

Remember that options trading is not a "get rich quick scheme" and involves high risks. So, it's better to learn the basics first before making huge investments.

Trade with us!

If you're looking for a more sophisticated and educational options trading experience, look no further than "Market Moves Premium Options Trading Group." Our exclusive 7-day membership offers swing trading set-ups, fast text signals, and +100 hours of educational content. Plus, you'll have access to live trading sessions twice per day. So if you're ready to take your options trading to the next level, join us today!

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