- 11 Best Options Trading Brokers and Platforms of January 2020
- Best Trading Software 2020
- Characteristics of a great options trading platform
- Best Options Trading Software
- Top 10 Best Online Stock Trading Software Platforms Review 2020
- Top 6 Best Options Trading Platforms
- Use This Broker Instead Of Robinhood – Best Brokerage For Options Trading – Best Brokerage 2019
- Merrill Edge
- How Trading Software Works
- From beginner solutions to expert portfolios
- Mac or Windows?
- TD Ameritrade
- Mobile Day Trading Software
- What To Look For
- Cost & Need
- Best options trading softwae
Day trading software is the general name for any software that helps you analyse, decide on, and make a trade.
11 Best Options Trading Brokers and Platforms of January 2020
It may grant you access to all the technical analysis and indicator tools and resources you need. The best software may also identify trades and even automate or execute them in line with your strategy. Whether you’re after trading software for beginners, or as an advanced trader, with more options than ever before, doing your research has never been so important.
Firstly, you’ll find out precisely how these software packages work.
This page will then highlight what to look for from your broker’s software offering, whilst breaking down forexsoftware, stocks software, and others in detail.
It will also touch upon software demo accounts, equipment and the regional differences to be aware of.
Best Trading Software 2020
Trade Forex on 0.0 pip spreads with the world's leading True ECN forex broker - IC Markets.
Fusion Markets are delivering low cost forex and CFD trading via low spreads and trading costs.
Their message is - Stop paying too much to trade
Pepperstone offer online Forex and CFD trading to both retail and professional traders. Trading is offered via 11 trading platforms including cTrader, MT4, Mobile or a MAM/PAMM account.
Binary.com are the established pioneers of binary options. The choice of the advanced trader, Binary.com offer the greatest flexibility of any binary broker.
They also offer Forex and CFD via the MT5 platform.
Finq.com offer a great all round service with trading on 2100+ assets and immediate bonus offers.
Vantage FX are a Raw ECN Forex broker, regulated by ASIC is Australia. Boasting MT4, MT5 and Webtrader platforms, a range of account types and a deposit bonus of up to 50%
NinjaTrader offer Traders Futures and Forex trading.
Use Auto-trade algorithmic strategies and configure your own trading platform, and trade at the lowest costs.
Alpari offer forex and CFD trading across a big range of markets with low spreads and a range of account types that deliver for every level of trader from beginner to professional.
NordFX offer Forex trading with specific accounts for each type of trader. Zero accounts offer spread from 0 pips, while the Crypto offers optimal cryptocurrency trading.
Characteristics of a great options trading platform
Open account from just $10.
Just2Trade offer hitech trading on stocks and options with some of the lowest prices in the industry
ATFX are an award winning, UK regulated broker. Offering Forex and CFDs with competitive spreads and a customer service focus.
Zulutrade provide multiple automation and copy trading options across forex, indices, stocks, cryptocurrency and commodities markets
New Forex broker Videforex can accept US clients and accounts can be funded in a range of cryptocurrencies.
Payouts reach 95% per trade.
Bit Mex Offer the largest market liquidity of any Crypto exchange.
Ultra low trading costs and minimum deposit requirements. Join in 30 seconds.
Deposit and trade with a Bitcoin funded account!
Best Options Trading Software
Binarycent accept deposits in, and trade, 15+ Cryptocurrency types.
Invest.com provide portfolio management plus standard trading. Leverage and spreads improve with each account level - Bronze, Silver or Gold
Offering a huge range of markets, and 5 account types, they cater to all level of trader.
83% of retail accounts lose money.
With tight spreads and no commission, they are a leading global brand.
76.4% of retail accounts lose money.
69% of retail accounts lose money with this provider.
Avatrade are particularly strong in integration, including MT4
71% of retail accounts lose money with this provider.
73% of retail CFD accounts lose money.
Top 10 Best Online Stock Trading Software Platforms Review 2020
With 1000+ markets and low spreads they offer a great service.
68.15% of retail accounts lose money.
CFDs carry risk. 64% of traders lose.
80% of retail accounts lose money.
Top 6 Best Options Trading Platforms
They offer 3 levels of account, Including Professional.
77% of retail accounts lose money.
78.3% of accounts lose money when trading CFDs.
68.5% of retail investor accounts lose money when trading CFDs with this provider
Spreads are competitive and stop loss and take profit orders are available. Even trade new cannabis firms in Canada!
86.24%% of retail accounts lose money with this provider.
Popular award winning, UK regulated broker.
68% of retail spread betting accounts lose money with this provider.
82.11% of retail accounts lose.
72% of retail accounts lose money.
Use This Broker Instead Of Robinhood – Best Brokerage For Options Trading – Best Brokerage 2019
They are FCA Regulated, boast a great trading app and have a 40 year track record of excellence.
76% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
75% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you can afford to take the high risk of losing your money.
73.2% of retail accounts lose money with this provider.
They also offer negative balance protection and social trading.
77.2% of retail accounts lose money with this provider.
73.62% of retail accounts lose.
Specialising in Forex but also offering stocks and tight spreads on CFDs and Spread betting across a huge range of markets.
77% of retail accounts lose money with this provider.
76.2% of retail accounts lose money.
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How Trading Software Works
Online day trading software can be broken down into four categories:
- Data – Before you start trading for the day you need to know the prices of the stocks, futures and/or currencies you want to trade.
For stocks and futures, those prices will usually come from the exchange where they are traded. Forex, however, doesn’t have a central exchange.
- Charting – Smart traders will usually chart prices in charting software.
From beginner solutions to expert portfolios
Many vendors will also offer data feeds. These charting packages usually offer basic technical analysis indicators. Opt for a more advanced package and you can benefit from more indicators and the ability to backtest your strategies.
- Trade execution – With your data to hand and after analysing it on a chart, at some point you’ll want to enter a trade. For that, you’ll need some sort of trade execution software, an electronic trading platform. A lot of software today will also allow you to develop your own trading strategies with an application programming interface (API).
They may also offer you automated trading capabilities specifically for day trading.
- Broker vs independent vendor – A lot of brokers will offer software directly linked to their in-house systems, but you can also use third-party applications through independent software vendors with brokers that support such integration.
The benefit of third-party solutions is that they often have more advanced features and enable you to trade with several different brokers with one single interface.
Mac or Windows?
When choosing your software you need something that works seamlessly with your desktop or laptop.
Any crashes or technical issues could cost you serious profit. Fortunately, the day trader is no longer constrained to Windows computers, recent years have seen a surge in the popularity of day trading software for Mac.
MetaTrader4, for example, is the worlds most popular trading platform.
It’s user-friendly, so combined with an easy to navigate Mac, it’s ideal for both beginners and veterans.
But whether you’re looking for the best trading software for Mac or Windows, check reviews to ensure the technical tools, data feeds, portfolio trackers, backtesting capabilities and any other features you require won’t run into compatibility hurdles. In addition, make sure the initial trading software download is free.
Reputable brokers shouldn’t charge you for the installation privilege.
Mobile Day Trading Software
You can also get extremely useful mobile trading software, normally in the form of an app on iOS and Android.
These aren’t designed to replace desktop applications as they lack in the capabilities area. They are best used to supplement your normal trading software.
Make sure when choosing your software that the mobile app comes free. A good app will provide succinct market updates, trends and the usual stock price tickers. If the app overloads you with information that pushes you towards impulsive decisions, stay clear.
What To Look For
Brokers will often offer standard software, but if you want additional features that may be essential for your strategies then you may have to pay significantly more.
So conduct a thorough software comparison before you start trading with your hard earned capital.
Cost & Need
- Does it meet your needs? – There is no one size fits all. Different trading software will suit different people. Are you following a simple stocks strategy such as moving average tracking? Alternatively, do you want to employ a more complicated multi-conditional strategy? Will you need a direct forex feed? To make sure it caters for your needs get a free software download trial and practice day trading on it first.
- Cost – How much does day trading software cost?It’s all too easy to opt for the cheapest trading software.
Whilst this may save you money in the short term, you may be sacrificing essential features your strategy requires.
Best options trading softwae
Adding these features later may cost you even more than if you’d invested in a comprehensive software to start with. Also, check to see if the software is available as part of the standard brokerage account, or does it come at an additional cost?
- Execution speed – Time is money and nowhere is that truer than in the day trading world.
Ensure your software will allow you to enter and exit trades swiftly. Check reviews for any trade execution red flags. A few seconds could be the difference finishing being in the red or black at the end of the day.