What broker platforms are good for trading options?

[Jane Goodwin]

[AskTraders Team]

The first answer to your question needs to highlight that not all platforms support options trading. It tends to be the bigger and more established brokers that offer markets in options. Some of the ‘no-frills’ brokers and Social Trading sites instead concentrate on providing markets in fewer instruments. The big one-stop-shop brokers provide thousands of markets in a whole range of instruments. They also tend to have a greater range of educational and training resources so having access to one of those platforms is a good idea. As you’re specifically looking at Options trading we’ve covered how first of all there is the actual availability to consider. Trying different platforms will also allow you to consider the other variables that include; pricing, market flow, financing terms, security of broker, quality of customer services, functionality of trading platform… to name just a few factors to consider. Platforms that offer options trading include (but are not limited to) the following: City Index, IG(spread bet accounts not CFD), AVA, iqoption, Saxo Capital Markets… to name a few. Your preferred aesthetic of the particular platforms will come down to personal choice. The below is taken from iqoptions. It is important to find a broker platform that matches your intuitive approach to navigating the markets. The actual execution interface will differ from broker to broker as well and might influence your broker choice. The research and educational resources may be an important factor when starting out. IG for example provides a range of videos addressing current market matters and general trading issues - see below. A range of brokers offer such materials on topics including those relating to trading options. There are a lot of factors to take on board when selecting a broker platform. If you’re looking to trade options some of the filtering process will be done for you as not all brokers support options trading. Those that do will have a very different feel, and possibly of importance to you, will have widely different numbers of options markets on offer. Options trading should be recognized as being associated with substantial risk. The high-level principles are relatively straightforward, and the instruments were borne out of risk management, but they are definitely something to be treated with care.