We know now that options are more complex than simply buying stocks, and that’s why options traders need to be more selective in choosing the right trading platform.
Options traders usually demand more from a broker than people who are simply entering market or limit orders for stocks. Active option traders may prioritize brokers based on their selection of calculators or screeners, whereas the infrequent options user may care about commissions alone.
Some features you as an options trader need to consider when selecting a broker are the following;
Commissions and fees
We know that price isn’t everything, but it is true that what you pay to execute a trade ultimately plays through to your profit or loss. Fees and commissions from brokers are nowadays really competitive.
Admittedly, a trading platform often has more to do with personal preference than anything else, as placing a trade through any brokerage is usually a matter of making a few clicks. Some traders may see TD Ameritrade’s fully-featured thinkorswim platform as an asset, while beginning investors may see the complex interface as a liability.