Futures trading is a great way to make money. Like many money making opportunities it takes time and effort to create a solid investment strategy, otherwise it becomes a losing proposition. Trading futures is like building a home, you can put all the boards together, but if you do not have a hammer to nail the two by fours together, your home is going to fall apart. Trading options sites are one of the tools that you need to build a successful trading strategy. The challenge is that it seems like there are as many trading sites, as there are people that trade securities. Not all of those sites will help you make money as a trader, but you can start with some of the top trading sites and move to other ones that fit into your strategies. What are some of the top trading sites?
- Trade Station
An oldie but a goody, Trade Station has been around the trading scene for a long time. It is a solid investor’s choice to trade options. The site does not have any of the charts that many of the other sites do, but if you are a trader that has put together a strong strategy, you may not need all the charts. Even if you are new to trading, Trade station is a quality site to start your new financial endeavor.
- Ninja Trader
Well known for its charting options, Ninja Trader is one of the top trading choices for the profitable trader. The charts allow you to perform your trades for the day directly from them. You are also able to run strategies tests with current market data, with Ninja Traders until you feel comfortable enough to start trading.
- Share Builder
Share build is a site that is great for newer investors. If you are not sure, you are ready to trade securities and you want to figure out how the market works Share builder is a place to start. The site has low commission rates, so that your expense is relatively low.
- Trade King
Trade King is a no frills trading site. The personal service that is available at many other trading sites is not a high priority at Trade King. If you are a trader who needs to talk with professionals to help with your trading strategy this site is not a good site for you, but if you feel rather confident in your trading strategy, and do not want to pay a lot of money in fees then Trade King is the site for you.
- Options House
Options house lets you use several different tools to build a solid trading strategy. Some of those tools include news and chart streaming. although the commissions may be higher than some other sites, it might be worth the investment to use this site with the different types of tools available to you.
- Options Xpress
Options Xpress is a low cost trading site that is great to trade in the US markets. It does not offer international trading as many other sites do. Their commissions are low, but they offer many great tools to help you successfully trade.
You have probably seen the commercials for E-trade. They are fun, which is what everyone likes when they are investing. The important thing to remember is that E-trade has a long history for being one of the top trading sites on the web.
Scot trade has been a relative newcomer to the investment game. The site does offer some very good tools, at a reasonable price. They do charge a little higher than some sites do to trade options, but they have been a top of line investment site for many years.
- TD Ameritrade
TD Ameritrade has the use of one of the best tools in the industry. The Think or swim is one of the most important tools that a trader can use to help them invest in today’s fast-paced marketplace.
- Choice Trade
Choice Trade is a site that is great for trading penny stocks, since it does not charge fees for the investor those types of trades. They do charge for other tools that many site offer for free, but it is a good site for someone that is an experience investor.
Although the trading platform is a great tool, the greatest tool is you. Your instincts will always make better decisions than any software, but it does not hurt to have something that will make your job a little bit easier.
Disclaimer – Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. Past performance is not indicative of future results. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
Ilan Levy-Mayer has been a commodities broker for over 16 years, and holds an MBA in Finance and Marketing from Hebrew University in Jerusalem. Ilan is currently the Vice President and a Senior Futures Broker overseeing online future trading platforms and Commodity Futures Trading systems at Cannon Trading Company.