When we focus on options trading—a niche (albeit a rapidly growing one) within the traditional definition of trading—we see online brokers that are overshadowed by large players in other categories suddenly shine through.
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This includes players like eOption and Webull; however, tastyworks is the broker that shines the brightest. While we give a lot of weight to the pricing on contracts with our scenario of a 50-contract trade, the best overall options trading platform has to provide the tools along with that price.
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Pros
- All the options tools you need
- Charting is tweaked to options, allowing you to analyze the risk profiles of the combined position
- Fantastic library of original, options-focused content
Cons
- There is no fixed income trading (outside of ETFs that contain bonds)
- Additional portfolio analysis requires setting up an account with the Quiet Foundation, also part of the tastytrade empire
Tastyworks sits in the sweet spot where its options-specific tools can compete with a powerhouse like E*TRADE, while its pricing makes it more attractive.
There are cheaper options brokers depending on how many contracts you trade at a time, but tastyworks has a better overall platform.
The final factor pushing tastyworks over the top is the excellent educational content it produces for its customers, keeping them up-to-date and informed when they aren’t glued to their charts. Pros
