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Best Trading Platform For Options Trading 2022

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The best options trading platforms are eTrade, TradeStation, TD Ameritrade, Charles Schwab, and Interactive Brokers. eTrade has the best overall offer for options trading. TradeStation offers the best desktop options platform. Interactive Brokers has the best offer for professional options traders.

Each options trading platform has advantages and disadvantages. This article discusses the best options trading platforms.

Top 5 Trading Platforma for Binary Options trading in 2022:

  • E*TRADE – Best overall options trading platform
  • TradeStation – Best desktop options platform
  • TD Ameritrade – Best options trading tools
  • Charles Schwab – Unique order type for trading options
  • Interactive Brokers – Best for professional options traders
#1eTradeBeginner-friendly apps and research tools​4.5/5Overall options tradingOfficial website
#2TradeStationAward-winning platforms 3.7/5Desktop options platformOfficial website
#3TD AmeritradeComprehensive learning tools 4.7/5Options trading toolsOfficial website
#4Charles SchwabBest offer for long term investments 4/5Unique order typeOfficial website
#5Interactive BrokersOffers premium services 4.9/5Best for professionalsOfficial website

Our Top 5 Trading Platforma for Binary Options trading:

01. eTrade: Best Overall Options Trading Platform


eTrade has many proprietary platforms, including two mobile apps, a web, and a desktop platform. It is a top choice for day trading for both beginners and professionals.

eTrade offers access to beginner-friendly apps and research tools. It has many trading tools, including watch lists and market research. eTrade offers the best web-based day trading platform.

02.TradeStation: Best Desktop Options Platform


TradeStation is a technology leader with some of the best day trading platforms. It offers $0 stock and ETF trades. TradeStation has many account tiers to suit all trading styles.

This broker offers three trading platforms suitable for day trading. It has an industry-leading desktop platform with outstanding tools and learning materials.

03. TD Ameritrade: Best Options Trading Tools


TD Ameritrade is a popular online broker with a dedicated learning center. It has straightforward platforms for day trading investors.

This broker offers two mobile apps and a desktop-based platform. All its platforms are customizable and provide easy access to many trading tools. TD Ameritrade is a top choice for new traders as it has many videos and tutorials.

04. Charles Schwab: Unique Order Type For Trading Options


Charles Schwab offers a full-service brokerage. It is the pioneer in the industry in terms of fees because it has eliminated many common fees. It removed the ETF and equity commissions once the founder’s book: “Invested” appeared. Charles Schwab owns both TD Ameritrade and the USAA’s Investment Management Co. 

Schwab’s flagship downloadable trading platform, StreetSmart Edge, provides most of what options and day traders need. Schwab’s All-in-One Trade Ticket, alongside Walk Limit, are both excellent.

05. Interactive Brokers: Best Day Trading Platform For Professionals


Interactive Brokers is a leading provider of premium services and tools. It has many research and learning tools for experienced investors.

This broker offers a premium day trading experience. It has market data, charting, and many other tools. Interactive Brokers uses premium technology to provide the best trading experience.

Many beginning options traders are surprised to find out that options trade has higher and more complex fees than standard stock or bond trades. It’s relatively common for options trades to have a base fee and a commission for each contract traded. Beyond this, options trading can have multiple “legs” with each leg having additional charges or fees.

Risks and Tools For Binary Options Trading

There are many different variables to consider before you open an options trading account. Two of them are risk and tools. Trading options is risky as traders can lose a lot of money very quickly. However, there are ways to minimize this risk while maximizing your return. This is done primarily through education and tools. All of the brokers above provide superb educational materials and top quality trading tools. 

Other brokers provide options trading accounts, but there are often unexpected limitations. For example, both Robinhood and Vanguard support options trading, but only one position per order. This means it’s not possible to create multi-leg trades with those brokers. This makes each trade cheaper and slightly less risky, but it also limits potential gains as well as automation. It also prohibits some of the potentially more lucrative trading strategies that require multi-leg functionality. If you are planning on becoming a frequent trader, be aware that commissions and fees can change. Be sure to carefully evaluate and understand all fees and charges associated with your account.

If you’re a beginning options trader, be sure to check out the brokers above who all offer competitive fees, sophisticated trading tools, and a wealth of educational materials.

How Does an Binary Option Trade Gets Executed?

There are a few specialties you need to know about before investing any money, which makes this kind of investment different from others. You can get more information and background on the term binary options here

If you’re new to trading binary options, you might be wondering how to get started.


The good news is that it’s easier than you might think. To begin with, all you need to do is choose the market that you want to trade in, the type of trade you’re interested in, the duration of the trade, and the payout you hope to get. Once you’ve entered your position into your trading platform, you’ll get prices based on your situation. From there, you can just redefine your position or buy your contract.

Defining your Trade Position


Trading in binary begins with identifying the basic outlines of your trade. You’ll need to adjust a few basic parameters to get a price for your contract. For instance:

  • Choose your market from a range of Forex, Indices, commodities, and volatility indices. There are plenty of sub-options within each of those four available markets so that you can further customize your trade.
  • Choose your trade type: Do you want to predict if the market will fall or rise from its current level, or hit a price target? Maybe you can determine whether the market will stay within or go outside of a specific price target.
  • Select your duration: Next, you need to choose the length of your trade. On Binary.com, this can be anything from 10 seconds to a year.
  • Pick your barriers: Finally, determine the boundaries of your position so you can figure out the kind of payment you’re going to receive.

From here, you can choose the payout that you want to try and get if you correctly predict a contract.

Getting your Price and Making your Trade

Once you’ve outlined your position on your trading platform, your contract price would be automatically calculated by the patented pricing tech on the system. The price is based on the parameters that you outlined previously. The prices are also benchmarked against the interbank options market. You should be able to rest assured that you’re getting the most competitive prices.

When you’re happy with the price that you’ve been given, you can simply carry out your trade. The platform you get will make it easier to complete your trade without any risk of slippage.


What Kind of Markets Should Your Options Broker Cover?

As mentioned above, binary options allow traders to trade on a range of different markets. One advantage of trading binary options is that you don’t buy or sell an actual asset. You only buy a contract that suggests how that market will perform over time. This reduces your risk. The markets available on our list of top brokers are:

  • Indices – Stock indices from the OTC market
  • Forex- Major and minor pairs (and smart FX)
  • Volatility indices – synthetic indices
  • Commodities – all precious metals and energy

Indices allow you to trade stocks with real-time pricing and charts.

Volatility indices might be a bit more obscure for some traders. These are synthetic indices that mimic the behavior of real world stocks in the market. They’re based on a cryptographic number generator, that’s audited by a third party. You can trade these indices on all three main trade types, and there are two classes available – continuous indices, and daily reset indices.

For those interested in sticking to the markets that they already feel familiar with, Forex is often a good option. With Forex, you can trade on contracts about minor and major currency pairs, as well as smart forex indices.

Finally, the other option you can consider is commodities. Most of our recommended platforms offer the option to trade contracts on all four of the most common precious metals, including palladium, silver, gold, and platinum. There is also a list of energy options available too.

How To Pick An Options Broker?

Choosing an options broker might be a challenging task. It is best to research and read about online brokers and their services. The main aspects you should consider are your needs, expectations, and goals. Remember that you shouldn’t invest too much capital if your financials don’t allow it.

The top criteria to consider when picking an options broker are:

  • Trading fees
  • Trading style
  • Money you are willing to invest

Investing comes with some risks, so it is best to choose a broker with top-tier regulations. Read our in-depth reviews to learn more about online brokers and options trading.

What Is Options Trading?

An option represents a contract that offers the owner the right to buy or sell an asset at a specific price with a specific expiration date. Their value is established by the relationship between the underlying asset value, expiration date and market volatility.

Final Verdict

eTrade, TradeStation, TD Ameritrade, Charles Schwab, and Interactive Brokers have the best options trading platforms. Our top choice is eTrade, as it has the best options trading platform. TradeStation has the best desktop platform for options trading. Interactive Brokers provides a premium trading experience with professional tools.


We review options trading platforms with real money and accounts. We use 105 criteria, including safety, platforms, and tools.

What is a put option?

A put is used by traders who want to place a bet on a stock as they think the stock price will decrease. Purchasing a put offers the freedom to sell shares of a stock at the strike price before the expiration date.

What is a call option?

A call option is used by traders who want to place a bet that the stock value will go up. Purchasing a call will offer you the freedom to sell the shares of a stock at the strike price before the expiration date.

Is There A Minimum Deposit To Trade Options?

Each online broker has a distinct fee structure. Most brokerage firms have a minimum deposit fee of less than $1000 for level 1 options trading. Read our in-depth reviews to discover insights on brokers and their fee structure.

Is options trading risky?

Yes, options trading is risky. It is a leveraged investment that comes with risks. Access to learning materials and research tools is vital when choosing a trading platform. Read our in-depth reviews to learn more about online brokers and trading.


The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online providers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a providers’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.

Providers were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online providers we reviewed.

Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.

Business24-7 maintains high editorial standards and provides the best advice and recommendations. The products and companies that we review may compensate us when you click on the links on this website. Click below to find out more about our review process and methodology.


All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

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Stefan Grasic (Dipl.-Jur) is the World Wide Director of research for Buisness24-7 and has considerable experience in the financial and investment niche, but also enjoys writing articles for the general readership. Stefan is an active Crypto, Forex and general investment researcher advising blockchain companies at their start up level. He keeps fit by mountain biking, surfing, skiing and lots of other adrenaline sports.