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.
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.
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
