Best Options Trading Platform Uk – The COVID-19 pandemic left investors hoping to find new ways to increase their returns, generate income or protect their portfolios. One of these strategies is options trading. An option is a contract tied to an underlying asset. You may be more used to trading stocks or ETFs where you buy units. In options, a contract involves buying/selling a number of shares (usually 100).
In this article we review the leading options brokers available in Europe and the UK to help you find the right options trading platform for you. Our criteria include trading platform, regulation, number of options contracts available, minimum deposit and customer service.
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When choosing a web server, there are several factors to consider. Especially for options trading, some factors play a more important role than others, ie.
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An online broker that offers stocks, ETFs, bonds, futures and options on major US, Asian and European exchanges and provides individual investors with access to IPOs. The commission per contract for US options is $0.65. Other options contracts cost $1.50 per trade.
Founded in 1978, IBKR is one of the world’s most trusted brokers worldwide. The minimum trading commission for US options is only $1. You have access to options trading in North America, Europe and Asia Pacific.
Low cost broker in Europe with over 2 million users. It offers options in the European and US markets with an initial commission of $/€/£0.75 and a connection of €/£5 per month, regardless of the number of trades.
A US-based broker offers (only) commission-free US call options trading to all its users worldwide. For European investors, an outbound wire transfer costs $25.
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Securities firm specializing in stocks, ETFs, cryptocurrencies, futures and options. Option prices start at $1, with a $10 cap per trade ($0 to close the deal).
Founded in 2008, Freedom Finance, the official corporate name of Freedom24, has already offered its 400,000+ clients participation in 280+ IPOs, offering 40,000+ stock trades, 1,500+ ETFs, 1,000+ IPOs and more.+ US included. Options and 147,000+ bonds on the largest exchanges in Europe, Asia and America.
Freedom24 trading platform can be accessed through desktop and mobile versions. Both the trading platforms are good enough to execute trades. They are well designed and intuitive but lack customization options. You get additional features like “InvestIdeas” and “News”.
Freedom24 offers options in multiple markets and currencies. American stock options have a commission of $0.65 per trade. Other options contracts cost $1.50 per contract. Additionally, if you decide to exercise your option position, you will be charged $1.50 per contract.
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Additionally, Freedom24 IPO provides access to hundreds of companies waiting for their chance to trade on major exchanges (check upcoming IPOs!) There is excitement for this feature as it was only available to institutional investors.
Founded in 1978 and listed on the NASDAQ (ticker: IBKR), Interactive Brokers is a global online brokerage that has overcome significant financial crises by demonstrating resilience and a rigorous risk management process.
Interactive brokers offer traders many different options to choose from. Designed for individuals and institutions alike, the platform boasts global access to stocks, options, futures, currencies, bonds and funds from 150+ markets. Interactive brokers make them all available from a streamlined and centralized platform.
Options trading is available in 30+ market centers with commissions starting at $1 for US options contracts. The trading platform offers advanced options trading tools such as Rollover Options Tool, Option Trader and Option Analytics. You can view your positions, market data, option chains and customize your trading strategies using the Strategy Builder. The Interactive Brokers Trader’s Academy can be a great way to deepen your options knowledge!
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On the one hand, Interactive Brokers owns IBKR Global Trader, a mobile app aimed at newcomers to the investment industry that enables trading of stocks and ETFs. This product offers automatic currency exchange, fractional shares and demo version.
Founded in 2013, DEGIRO is a low-cost brokerage company that has become very popular due to its low prices! With over 2 million users, the innovation platform is widely known for its “do it yourself” philosophy. It has everything you need to start investing on your own. It offers a wide range of financial assets for trading, including stocks, ETFs, bonds, options, futures, warrants, mutual funds and some leveraged products.
DEGIRO allows you to trade options in the US (CBOE, CME, NYMEX …) and European markets (Eurex, Euronext Exchange, IDEM …). The commission for doing this is very high. You pay $/€/£0.75 per contract plus a monthly connection fee of €/£5. In addition, you will be charged €/£1 per contract for exercising the option.
The trading platform for options trading is not sophisticated, meaning there are no sophisticated tools to see the full picture of the dynamics that affect option pricing. In other words, the platform is only suitable for execution (buying or selling).
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Founded in 1985 and based in the US, Firstrade is a discount broker that offers commission-free stocks, ETFs, options and mutual fund trading with solid order execution, a long track record and a solid reputation.
While they accept clients from all over the world, their product portfolio only includes financial products listed in the United States. In addition, Firstrade misses out on some very valuable features for investors: share trading and other asset classes such as cryptocurrencies, forex, futures and CFDs.
Options trading on Firstrade is relatively inexpensive: $0 commission and $0 contract fee with no exchange, exercise or allocation fees. The options trading platform is medium/advanced with access to option chains, risk/reward profile for each trade and a fully integrated options game. In addition, you can educate yourself with the free elective courses on the platform.
Finally, Firstrade’s base currency is USD. If you deposit your money in another currency, you will be charged a currency conversion fee on deposits and withdrawals. One option is to use a cheap currency exchange service, such as Wise or Reverse.
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TastyWorks is a US-based online brokerage firm that focuses on options trading, but also provides access to stocks, ETFs and crypto. The Robust Trading Platform was developed by the same people who built the Thinkorswim trading platform (powered by TD Ameritrade).
TastyWorks offers options on stocks and ETFs, futures and micro futures for commissions of $1 ($10 cap), $2.50 and $1.50 per contract, respectively. No commission is charged for closing any option position.
However, the low fees don’t make up for the limited account features and lack of investment choices for the casual trader or passive investor — no mutual funds, for example. Additionally, transfer fees can reach up to $75 per transfer.
While TastyWorks can be intimidating for beginners, it offers a wide variety of educational content and research tools to enhance your options trading skills.
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Founded in 1982, TradeStation is an American broker committed to providing you with the best trading experience within their award-winning platform and brokerage services. You can trade stocks, ETFs, options, futures and cryptocurrencies with competitive pricing models.
Prices per contract start at $0.60 with access to real-time options data. The platform is developed with powerful and intuitive tools to fit the needs of both beginners and advanced investors. The built-in software, OptionStation Pro, allows you to quickly create an option chain, analyze any option strategy scenario, and immediately place trades directly on the market.
Options trading can be intimidating at first, but once you fully understand its dynamics, it opens up investment options that you may not find in mainstream investments like stocks and ETFs. With options, you can pre-determine your risk of entering a trade and control more important position parameters with smaller investments.
Keep in mind that there are some caveats to options trading in Europe and the UK that you should be aware of. Some platforms advertise their pricing for the US market and only apply to US residents. Higher fees may apply for EU and UK investors (which we’ve looked at on these examples in our platform breakdown above).
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We hope you found this article and the information we have shared very useful and valuable. Do you have any comments on what we have written? Feel free to let us know in the comments section.
Franklin is a CFA Level III candidate with over 3 years of experience in asset management as a fund research analyst and host of the “Edge Over Hedge” YouTube channel.
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