Whether you’re a rookie, a day trader, or a long-term investor, options analysis software won’t get you to the top overnight, but it will offer you the information you need to get there.
The technique of buying and selling stocks at a predetermined price by a particular date is known as trading options. Options are a sort of contract that offers a trader the right to purchase or sell certain stock in the future without requiring them to bear the loss if they do not buy. And when it comes to trading, the platform you utilize has a direct impact on your profits.
Here are our top choices.
1. Option Samurai
Option Samurai is a simplified options scanner that prioritizes user experience. Unlike other option scanners, the UI is straightforward and simple to use, making it simple to identify and sort choices using a range of active criteria. The program includes a variety of pre-programmed scans for the most typical choices strategies, as well as the ability to create and save custom scans.
Option Samurai is a platform for options traders, however because of its user-friendly design and strategy-first focus, it is suitable for both new and experienced traders. While skilled options traders may yearn for more advanced charting features and the ability to scan using a bespoke strategy, Option Samurai makes it simple to locate prospective options trades using the most popular options techniques.
Lightspeed is a high-speed stock and options trading platform. You can choose from a number of platforms, including their own Lightspeed Trader and Sterling VolTrader (previously Livevol X), which is created specifically for options traders. Lightspeed also offers EZ EMS (previously RealTick) and Sterling Trader Pro, both of which include monthly subscription fees. LimeGateway, a web-based trading platform, is also available at no extra charge.
Lightspeed’s services have a robust backbone that can handle all clients logging in at the same time, which is an advantage in times of significant market volatility. Lightspeed’s retail expansion has been hampered by the zero commission phenomenon, but company spokespeople claim that its core clients and target market recognize the value and benefits of the active day trading services and technologies offered.
Day traders require a variety of services, which TradeZero delivers. Margin, direct-access routing, Level II quotations, short locates, and a professional-level desktop platform are some of these features.
The lack of pattern day trading (PDT) regulations is maybe its largest advantage in this area. Because the brokerage firm is not regulated by the Securities and Exchange Commission, there is no account minimum of $25,000 to day trade. For day-trading privileges, the broker requires a $500 account minimum.
myTradeHawk is a full-featured stock and options trading platform developed by industry experts. This complex platform is exclusively available through Tradier Brokerage, making it one of the most powerful and cost-effective ways to trade and invest.
Tradier provides financial platforms with trading, account administration, and market data for Tradier Brokerage accounts via sophisticated APIs. Tradier Brokerage also works with platforms to identify consumer offers that provide a compelling value proposition to current and future customers. This strategy benefits a wide range of stock and option platforms and traders.
SmartTrader validates your trading decisions and gives you all the information you need to make trades with confidence, due to automated Smart Tools, relevant data, widgets, and more. Whether you’re a seasoned trader or a newbie, SmartTrader’s patented Smart Tools, as well as over 100 standard tools, can help you save time and improve accuracy in your trading analysis.
SmartTrader allows you to monitor and analyze several markets by giving you access to over 8,000 stock, currency, ETF, and crypto symbols. In addition, the software allows you to trade Forex in real time.
NinjaTrader is a robust derivatives trading platform that specializes in futures, FX, and options trading. The site includes a variety of innovative trading tools. There is a free version that lacks the extra features of Trader + and OrderFlow +, but users may still break down charts, backtest techniques, and trade without paying anything. NinjaTrader has its own brokerage services, but users can also choose from a variety of other brokerage providers.
The free version, which is offered with all brokerage accounts, is an excellent starting point for beginner traders who do not want to make a financial commitment. As your trading experience grows and you are ready for more tools and features, you can increase the level of sophistication.
eSignal is a charting and trading platform that allows all members to chart with real-time data and includes some specific services. This platform is detailed, simple to use, and based on Windows, but it is also compatible with MacBooks.
Users of eSignal can currently connect with 42 brokers while trading in a single trading platform. Users seeking real-time data, charting, and trading capabilities will undoubtedly benefit from this type of dual platform. eSignal’s products and services have already won multiple honors, and throughout the course of more than 25 years, tens of thousands of traders have used this platform.
BlackBoxStocks is a strong stock and options platform with real-time scanning and trading alerts. The strong educational idea and community components round out the program.
When the program is activated, the platform combines predictive technology with powerful artificial intelligence to aid in the detection of aberrant market activity and rising volatility. Its institutional-grade analytics plug-ins assist subscribers in identifying previously unknown market trends and alerting users to potentially big price fluctuations.
ETNA is a privately held business situated in the United States that was created in 2002. ETNA’s team has created award-winning proprietary software for market leaders, including those featured in the Wall Street Journal, Barron’s Magazine, and Investopedia’s Best Online Brokers review. Its trading technology powers rapidly expanding digital advising businesses and online investment platforms.
ETNA’s aim is to democratize capital market technology and provide financial services and products using the most up-to-date stock trading platforms and APIs.