Selecting the Best Platform for Options Trading
What Is Unique about an Options Trading Platform?
In the world of investing and options trading there are many tools available to increase your productivity and maximize profitability. Utilizing the platform that matches your strategy is an important step toward realizing your investment goals. There are many online resources to consult when evaluating your options trading platform choices including the Options Industry Council which can provide education programs and seminars that help develop your options trading knowledge and trading skills.
NASDAQ also provides some platform recommendations for options traders.
Trading platforms can vary significantly from bare bone web apps that allow you to make your call and put orders through your online broker, to full-powered desktop software powered with tools for market analysis and research, advanced charting capabilities, and customizable search and notifications for trade opportunities. Sophisticated options trading platforms such as these allow you to create the criteria that pertain to your individual options trading goals and save the settings for reuse in your future trading sessions.
Options trading has its own unique deviations from straight buying and selling of stocks or commodities. Due to the nature of options with expirations and different levels of risk involved it is beneficial to options traders to have tools that identify opportunities and associated risks before you make investment decisions. Advanced options platforms exhibit features that allow the trader to make smarter choices through the ability to:
- Identify the potential gain from a particular options trade that can include your anticipated profit, breakeven point, or expected loss at any price level.
- Remove some of the guesswork by providing news of approaching events that may impact price or earnings potential.
- Set alerts within the platform tools that let you know when your pre-determined buy or sell points are reached.
- Place orders quickly and easily when you’ve determined the circumstances meet your target.
Selecting the Online Options Trading Platform that Works for You
Options trading platforms can be selected based on your experience level to keep the process simple until you become more proficient at managing single vs. multiple trades, spreads, and covered calls. Once your knowledge and confidence levels expand you will probably want to move up to a more complex and full-featured platform.
By no means are today’s web-based trading platforms limited to novices. Many have real-time news feeds, options chain display, charting tools, watch lists, and more. These can be utilized by smartphones and tablets with either iOS or Android environments for options trading on the go.
Desktop systems are available for Windows and Mac computers and provide sophisticated capabilities including market watch displays based on your own choice of potential investments, tracking of account activity, and ease of use for options trading.
The SureTrader Platform for Options Trading
SureTrader can meet the needs of the beginning or advanced options trader. Multiple platforms are available including our web application that is accessible from anywhere through your mobile device or tablet.
SureTrader ActiveWeb – our free web-based application for trading stocks and options.
SureTrader Desktop – the platform and software preferred by options traders due to its advanced features and easy fully integrated point-and-click trading.
SureTrader is committed to the total satisfaction of our customers including the best in options trading platforms and software, reliable and accurate fast execution of trade orders, and award-winning customer support available 24×7.
Contact SureTrader right away to get started options trading with the best in online brokers.
Disclaimer: SureTrader Blog is not intended for U.S. persons. Stock information is not to be viewed as buy or sell recommendations.