Reviews of Online Options Brokers
Being a successful trader is all about making informed decisions. One of the decisions you need to make before you can even get started trading is selecting a broker to use. As this is a very important decision; it makes sense that you should want to be as informed as possible about all the different choices that you have.
This is something we can help you with. At OptionsTrading.org we have ranked and listed the best online options brokers in a variety of different categories, to help you find the one that is best for you. In addition to this, we have also written detailed reviews on the brokers we recommend so that you can find out all the information you need before choosing which one to sign up with.
On this page we have explained more about the reviews we provided, and the importance of reading them before signing up anywhere. We have also provided a brief overview of each of the reviews we provide.
Why Read Broker Reviews?
Although every single one of our recommendations meets our high standards, they aren't all necessarily suitable for everyone. You really want to use one that is right for your own circumstances and requirements, and to do that there are certain things that you really need to know. While you can find out much of this information yourself, it can take a fair amount of time if you want to research a number of different brokers.
By reading our reviews you can get all the pertinent information you need on each of our recommended brokers. This will help you determine which is the most suitable for you in terms of what they have to offer. We do believe that it's well worth the time reading through at least a few of them before selecting a broker to use for your options trading.
About Our Reviews
We strive to make sure that our reviews contain all the information that you need to make an informed decision about which broker is likely to the best for you. We also make sure that they are entirely honest and accurate. We don’t just focus on the good points, but we look at any negatives there are too.
In order to write our reviews we have carried out extensive research and also a great deal of testing. This enables us to get a real feel for exactly what they have to offer and how they perform in certain key areas. We look at a wide range of factors, focusing particularly on each of the following.
- Commissions & Fees
- Minimum Required Deposit
- Trading Platform Functionality & Ease of Use
- Research & Analysis Tools Available
- Additional Tools & Features
- Educational Resources
- Customer Service
- Availability of Virtual/Paper Trading
- Mobile Compatibility
In each review we also highlight the main positives of the relevant broker and include details of what type of trader they are most suitable for. We list all the services and products they provide in addition to broking options trades too.
Top Broker Reviews
Below you will find a brief overview of each broker that we review, along with a link to further information. If you have the time it really is a good idea to read through these before choosing which broker to use.
This broker, one of the first to offer its services over the internet is suitable for all trader types. It has a basic platform which is ideal for beginners and part timers, and an advanced platform for those that are looking for something more sophisticated. Both are relatively easy to use.
Read the full E*Trade review here.
Focused specifically on options, this broker is a good choice for both low and high volume traders thanks to the two separate commission plans. The trading platform is functional and easy to use, and can be customized to suit personal requirements.
Click here to read our review of OptionsHouse.
This broker is good all around and performs well in many areas. Its biggest drawback is the fact that it isn't very cheap when it comes to commissions. Many could consider the higher commissions well worth it though, because there are several useful tools and features they offer.
You can read our OptionsXpress review by clicking here.
This online broker is well-known all around the industry by traders from all walks of life. They are especially known for their extensive features and tools that their customers have access to, as well as for one of the most advanced trading platforms available today.
Check out all that they have to offer by reading our TradeStation Review.
Scottrade has a commission structure that is great for anyone that doesn’t trade in big volumes. It's also very easy to use which makes it particularly appealing for beginners. A big advantage, if you live in the United States, is the fact that you can visit any one of their 500 branches nationwide for help and advice.
You can find a full review of Scottrade here.
Anyone that is looking to keep transactions costs down should consider TradeKing, as the commissions charged are very competitive. The drawback is that there's a lack of advanced features and tools. You can still do most of what you are likely to want to do here though, and the trading platform is very user friendly.
Click here for the full TradeKing review.
TradeMonster is a good choice for big traders, because the commission costs are very reasonable when trading in high volume. It has enough advanced features to keep experienced traders happy and is also easy enough to use for beginners.
Read our TradeMonster Review here.