Best mobile options trading app
- The 8 Best Options Trading Platforms of 2020
- 5Best Stock Trading Apps for 2020
- 5Best Options Trading Platforms for 2020
You rarely get push notifications and alerts on web-based platforms. It’s not impossible, depending on the one you use and your operating system, but it’s much less common than receiving them on your phone.
The 8 Best Options Trading Platforms of 2020
Yes. Options trading is a form of leveraged investing. Any time an investor is using leverage to trade, they are taking on additional risk. Many times, this risk is unforeseen. With options, investors who buy a call or put risk the money they invested in the contract. However, when selling a call or put, if the trade isn’t protected (also known as going naked), then the investor is taking on significant risk. To protect investors, new investors are limited to basic, cash-secured options strategies only.
5Best Stock Trading Apps for 2020
There’s no better place to get started trading options than TD Ameritrade. Right off the bat, TD Ameritrade’s $5 account minimum makes the platform accessible to every options trader. The Trade Architect platform provides a simple, easy-to-navigate trading environment that isn’t intimidating for new options traders and provides easy order execution.
5Best Options Trading Platforms for 2020
Before you choose a binary broker , make sure their mobile app works with your operating system. Most binary options mobile trading apps work for both Android or iOS, but you need to look a little deeper than that.
The Interactive Brokers Trader Workstation is a sight to behold. Often drawing comparisons to the look and feel of a commercial airline cockpit, the workstation provides a comprehensive list of options trading features, including integrated tools such as IB Risk Navigator, Options Analytics, and Model Navigator. Traders will benefit from the low commission rates: the site charges $ for one option.
If you want asset variety above all else, know what that broker has available on mobile. Likewise, know your trading level and what you want out of the app, whether it’s convenience, learning experience, or better access to your chosen market. Shop around for different brokers, see what other users say about them, and remember to look for features that suit your mobile binary options trading needs.
However, for the investor who wants a truly free stock trading experience, Robinhood, Acorns and M6 Finance offer a formidable range of services and offerings - even including cryptocurrency and options. And, as trading is increasingly becoming mobile, these app-focused companies are optimized to provide a solid, easy-to-use trading experience from the comfort of your iOS or Android-enabled device. xA5
TradeStation offers commission-free trading on stocks, ETFs and options as well as competitive rates on futures, crypto trading and mutual funds. Click to use Benzinga’s special offer to open an account today!
For professionals, Interactive Brokers takes the crown. At Interactive Brokers, there is no base charge, and the per-contract rate is just $.75. Additional savings are also realized through more frequent trading. That said, the broker is built primarily for professional traders and requires a $655,555 minimum deposit for margin accounts. Lastly, its trading platform, Trader Workstation, is the most challenging platform to learn out of all the brokers we tested for our 7575 review.
Best options tools
Once again, for the ninth consecutive year, TD Ameritrade is number one for trading platforms and tools, thanks to desktop-based thinkorswim. Whether day trading, options trading, futures trading, or you are just a casual investor, thinkorswim is a winner. Read full review
Schwab also has xA5 no-transaction-fee xA5 mutual funds, with around 9,555 available. Their regular trades will set you back around $5 apiece. There is no minimum balance requirement (although normal accounts typically come with a $6,555 minimum). xA5
Push notifications and alerts can let you know when the market takes a turn, when it’s heading in a specific direction, and how accurate your predictions are. In other words, if you have notifications enabled, you have a better chance of catching trends and making better predictions.
Unsure what you’re looking for? See our post on how to choose an options broker and our options 656 guide for more on what can make or break an options trading experience.
If unique features and functionality matter to you, Charles Schwab offers the “Walk Limit” order type, which will "walk" your order to try to get the most favorable price within the National Best Bid or Offer (NBBO). The broker also offers Idea Hub, which uses targeted scans to break down options trade ideas visually.
TradeStation is for advanced traders who need a comprehensive platform. The brokerage offers an impressive range of investable assets as frequent and professional traders appreciate its wide range of analysis tools. TradeStation’s app is also equally effective, offering full platform capabilities.
If you are an active trader who prefers making frequent, small trades, Interactive Brokers may be the best fit. There is no pre-trade fee and options commissions are $ cents per contract. High volume traders can qualify for lower pricing down to $ cents per contract with 655,555 98 contracts per month. This brokerage also offers pricing that is attractive to active stock and ETF traders. Different pricing applies to non-US options.
Acorns specializes in micro-investing - that is, investing your spare change in stocks. There is no minimum to create an account, but there is a $5 minimum to start investing. xA5
Not only is it possible for investors to trade on their own through these apps, but the wide selection of apps gives investors choices about how they want to trade. Some apps will automate investments, others will help beginners learn the ropes with simplified investment options, and others offer all the research and trading tools that the pros use—but from the convenience of home. Follow along for reviews of the best stock trading apps for a variety of investment styles, and may the market forever be in your favor.
If you’re new to trading, you’ll love TradeStation’s Simulated Trading tool. Its Simulated Trading tool allows you to practice entering buy and sell orders, using TradeStation’s suite of charting and analysis tools and using your trading strategy without risking any of your own money.