Best Options Trading Software & Platforms

Learning how to trade options well can take time. In fact, trading options on an inferior options trading platform can cost you. So, when it comes to becoming profitable in the options trading arena, it can all come down to how well a broker’s platform responds to the market and your orders. Ideally, a broker’s platform should keep you up to date by offering you real time streaming quotes and easy access to your positions as well as respond quickly to your market orders, ensuring that you get the best possible chance of taking advantage of market nuances.

1

Trader's Room

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  • Offers binary options trading. Binary options trading means that if the contract ends up in the money, the value of the contract is determined at the onset of the investment and not by market conditions.
  • Trader’s Room pays 65%-75% returns if options expire in the money.
  • If you deposit $1500 into any new Trader’s Room investment account you will receive a free 16 GB iPad.
  • The Trader’s Room platform is easy to understand and simple to use.
  • Trader’s Room provides tons of real time news feeds and streaming quotes that will keep you connected to the markets and to your investments.
2

EZ Trader

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  • EX Trader offers plenty of up to the minute, real time market news creating a wealth of knowledge for its options traders.
  • The interactive chat feature allows investors to not only ask questions about the platform and order entry but also offers investors the opportunity to ask strategy and trading advice related questions.
  • Offers binary options trading, meaning that each option contract has additional conditions such as multiple valuations or indices.
  • Binary options trading allows you to trade in foreign currencies without the risk of losing more money that your initial investment.
  • Registration is free with EZ Trader and there are no minimum trading requirements, and a low initial deposit requirement ($100).
3

LightWave Trading Platform

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  • Offers a 7 day risk free trial which includes access to all of Lightwave’s tools and news feeds. After the trial, access costs $150 per month.
  • Daily live webcasts, virtual trading, Trading Views Website, and access to a bevy of knowledgeable support staff makes trading with Lightwave easy.
  • Comprehensive training suite available for beginning options traders and professional tools available for experienced traders.
  • Lightwave offers a 20% discount on trading commissions to investors with funded accounts with the All-Inclusive Package.
  • A wide array of news and market feeds that allow all traders to stay connected to the markets worldwide.
4

Global Option

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  • Offers a no-risk demo account that allows you to learn the ropes without risking real money.
  • Offers a funded account option that allows you to earn up to a $1000 bonus deposit.
  • Global Option offers personalized trading training that helps bring novice investors up to speed before risking real money.
  • You can invest in binary options with underlying investments such as stocks, indicies, index futures, commodities and currencies.
  • Global Option allows you to invest in binary options that expire hourly, daily, weekly and monthly.

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Find The Right Options Trading Software or Platform

Many brokerage firms offer a collection of sophisticated tools and apps that help you make tough investment decisions. But, in some cases, it makes sense to go with independent trading platforms that are outside of a broker’s offerings. As a dedicated trader, you may have outgrown your broker and are looking to do something more esoteric. While doing your research, you've probably seen a lot of trading tools promoted. Trading software platforms provide tools and applications that you can use to enhance your trading and investment experience.

Here are some of the reasons you may decide to use independent options trading platforms:

  • Simplicity. When it comes to trading, there is nothing more important than understanding how to execute market orders. However, if you have found a broker that offers everything you need at a price you can live with, but offers a trading platform that simply doesn’t cut it, utilizing a third party trading platform may be a way to get the best trading experience possible.
  • Stable Platform. What good is a platform that is buggy or doesn't execute your trade in a reliable way? If it's possible to test your environment out through a virtual stock trading feature, then do so, in order to get a feel for the system. You can also tap the impressions of other customers, read reviews about the services of the site or test the platform out with small transactions first to ensure that you can be comfortable about committing to larger trades here.
  • Technical Support. Has your platform got good technical support? A lot of these options platforms tend to be much more technical and feature rich, and having a good support contact can give you security that things are working as you expect.
  • Customer Service. Look for a site, service, system or platform that gives you a help line that delivers good customer service. Those sites that offer superior service have well-trained staff and representatives and allow for the ability for a customer to reach them through various means (email, chat, phone). Find out if there is easy accessibility to customer support, and their hours of availability.
  • Rich Features & Good Variety of Investment Products. Brokers offer a wide range of investment products to their customers; however some customers choose to invest in products that may not be available through or supported by the broker directly. Many will allow investment in more non-traditional products through the use of independent platforms.

Trading tools are the key to making a better investor. And while cheap online stock brokers offer well rounded trading platforms, they may not necessarily meet the needs of all of their investors all of the time. When this situation arises, using other trading platforms offered by investment or trading companies that are experts in their fields and niches will allow you to invest in a way that makes you feel comfortable, which translates into an increased potential for profits.

So, if you find that your broker’s investing platform is lacking, think about looking into a trading platform offered by an independent trading service provider. Work with your broker to determine which platforms are compatible with your account and what, if any, charges will apply to your switch.