Summary: If you want to get started with options trading, you will need the right software. We have researched and created a list of the top options trading tools to help you make informed buy and sell decisions and optimize your profits.
Options are a type of contract whose price depends on an underlying asset like bonds and currencies. This asset class category has gained huge popularity in recent years.
With a brokerage investment account, the bearer may buy (call option) or sell (put option) an amount of the asset (like a stock) at a pre-negotiated cost by the last date of contract expiry. However, there are no losses incurred if you choose not to buy.
Options Trading software provides precise information to investors for making profitable trading decisions based on market changes and via option analysis. They can buy and sell options online from anywhere in the world. Additionally, the options trading platform provides real-time analytics and quotes, charting and other custom trade functions.
With options trading tools, investors can decide when to trade and how much after considering the risk. For example, if you want to buy later when you think the value of an asset will increase, you can lock in a price called strike price for future purchases.
Further, real-time analysis helps traders make correct investment decisions. Also, the option analysis software provides tracking, probability calculations, risk management, 3-D charting, real-time quotes, profit/loss analysis, volatility analysis and more.
| Trading Platform | Broker | Active Clients | Rating | Commision |
| E*TRADE | E*TRADE Securities and Morgan Stanley Smith Barney | 5.2 million | 4.1 | INR 54.02/contract without any base commission. INR 41.55 discounted fee is also available for traders who are doing more than 30 trades in quarter. |
| TradeStation | TradeStation Securities | 178,863 | 3.4 | It does not charge any commission |
| TD Ameritrade | TD Ameritrade, Inc. | 11M+ | 3.8 | Zero commission applicable for USA exchange listed stocks. Options, and ETFs. |
| Charles Schwab | Charles Schwab & Co. | 34M+ | 3.8 | No commission charged for ETFs, listed stocks, Options, Mutual Funds |
| Interactive Brokers | Interactive Brokers Group, Inc. | 2.1M+ | 4.5 | It charges INR 54.01/contract for the price of INR 8.31 or more. INR 41.55/contract for price of INR 4.15. |
| eOption | Regal Securities, Inc. | Not disclosed | 3 | INR 830.67/contracts for Equity or Index. For Foreign Stocks, 3,239.60 and free for extended hours trading. |
| Tastyworks | tastytrade, Inc. | 250,000 | 3.9 | Zero commission for stock and ETF trades. For cryptocurrencies, 1% of the total purchase. |
| Tradier Brokerage | Tradier Brokerage Inc. | 300,000 active users/ month | 3.2 | INR 830.93/month subscription for the commission free trading, else pay INR 29.08/contract. |
| Zerodha Sensibull | Zerodha Broking Ltd. | 3,26,60,214 | 4.5 | It does not charge any commission |
| Opstra | Definedge Securities Broking Pvt. Ltd. | Not disclosed | 4 | Not available |
| IQ Option Trader | IQ Option | 50 million | 2.3 | It does not charge any fee. However, 2.9% will be leveraged in case of opening long cryptocurrency position. |
| Olymp Trade Platform | Vanuatu Financial Services Commission | 89 million | 4.4 | It charges a brokerage fee of about 0.8% to 15% of the total investment. |
| Quantsapp | Quantsapp Pvt. Ltd. | 5,50,000active users | 4.2 | Not available |
Here are some of the best option trading platforms in India that you can consider for option and other stock trading.
E*TRADE is one of the first US-based brokerages founded in 1982 and is regulated by financial authorities such as Securities and Exchange Commission (SEC) for safety. Moreover, it is great for beginners who want to get into options trading.
E*Trade provides learning materials to learn options trading. It has a user-friendly interface that is intuitive for both casual and active traders. In addition, there are recommendations for future key events, tools like StrategySEEK for screening and LiveAction for scanning, among others.
Minimum Account Balance: None. There is no inactivity or account fee.
E*TRADE Charges/Fees: Options contract fee is INR 47.28 per contract and INR 36.37 per contract for merchants who execute at least 30 trades per quarter.
ETRADE stands out as the top options broker for multiple reasons. Its investor education tools are top-notch, offering valuable resources for traders to enhance their knowledge. In fact, this options analysis software is a viable option for those looking to trade options, as it charges zero commission fees on US listed stocks, ETFs, and options.
Additionally, its Market Insights feature provides users with a comprehensive understanding of their target market, which is essential for successful trading.
TradeStation is a stockbroker founded in 1982 and designed by traders. It is a popular choice among active or intermediate-level traders. Moreover, traders can choose TS Go for trades via mobile and Web or standard TS Select account for full access via the desktop platform.
For TS select users, it helps design, test, monitor, and automate custom trading strategies for options. TS Go users can create custom watch lists and view chart patterns without creating an account.
It is one of the best technical analysis software as it offers several technical indicators to help you trade profitably. In addition, there is a trading simulator to test-drive new strategies in real-time and customization options to highlight the most relevant data.
Minimum Account Balance: INR 0 to INR 1,45,482 based on account type
TradeStation Charges/Fees: For Stock options, it is INR 43.64 per contract (TS Select) and INR 36.37 per contract (TS Go). However, for Futures options, the charge is INR 109.11 per contract, per side.
TradeStation is a leading stock management platform that stands out for its trader-centric approach. This option software offers advanced tools for creating and testing unique trading strategies. It also provides choices for mobile and web-based trading.
Also, its customizable features, trading simulator, and chart pattern viewing make it an excellent choice for active and intermediate traders.
Suggested Read: Top Nifty Buy Sell Signal Software for Indian Stock Market
TD Ameritrade was founded in 1975 for derivatives-focused (like options) active traders, both professional and inexperienced. Moreover, the navigation is highly dependent on the chosen platform-specific website, mobile apps, and thinkorswim platform.
The data, charting, and several tools assist in finding market opportunities. While educational tutorials help investors grow their skills. There are Level II quotes, customizable screeners, market heat maps, backtesting capabilities, and other capabilities for making the right options trading decisions.
Minimum Account Balance: A deposit of INR 1,45,482 is necessary to avail margin and certain options privileges.
TD Ameritrade Charges/Fees: INR 47.28 per contract fee for options trades. However, there is no exercise or assignment fee.
TD Ameritrade is a great choice for option trading due to its wide variety of investments and commission-free exchange-traded funds (ETFs). Also, it allows options trading with no deposit minimums or hidden fees.
Additionally, TD Ameritrade provides access to in-depth data and news from sources like Morningstar & TheStreet, which assists traders in creating custom strategies for investments.
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Charles Schwab was founded by an American investor and financial executive of the same name. Moreover, the options trading broker’s platform works well for beginners, advanced professionals and those dependent on premium research.
Also this option analysis software offers three platforms- StreetSmart Edge, Schwab.com, and StreetSmart Central. In addition, there are two mobile apps, namely, Schwab Mobile and StreetSmart Mobile.
The desktop platform, StreetSmart Edge is fully customizable and focused on option traders. In fact, traders can view options chains, monitor/ track orders, analyze charts, place orders with auto-adjustable limits, and more with this option analysis software.
Minimum Account Balance: To start using the Charles Shwab account, a minimum of INR 72,741 is needed.
Charles Schwab Charges/Fees: The charge is INR 47.28 per contract for new and existing clients in this option software.
Charles Schwab is an ideal choice for beginners and advanced level traders with its well-rounded offerings. This option prediction tool offers a unique set of advantages for option trading.
Most importantly, it charges zero percent commission on limited stocks and EFTs and there is no hidden fees policy. You will also get access to the Robo advisor to manage your portfolio. In addition, Charles Schwab offers expert advice and support to help traders maximize their potential profits.
Interactive Brokers is a customizable and user-friendly platform for options trading in NSE of India and international markets. Also, users can create their Mosaic layouts, and links to frequently used tools are saved for easy access.
This option trading analysis software is best for international trading with low margin rates. Interactive Brokers Lite is suitable for casual traders, while the pro version is catered towards experienced traders and investors. Choices like charting and scanners are available to both Lite and Pro users of this option prediction tool.
Minimum Account Balance: None. This was recently done to attract more customers.
Interactive Brokers Charges/Fees: The fee is INR 47.28 per contract for options trading.
Choose Interactive Brokers for a strong investment platform that provides a diverse set of assets such as stocks, options, futures, currency, cryptocurrencies, bonds, and funds.
Additionally, the option software also provides 150+ worldwide market access, research reports, tools, calculators, and instructional materials in various languages through a single account.
eOption is a global online financial trading platform that enables traders to access, trade, and check the status of options, Stocks, and ETFs. Additionally, it is targeted at active options traders who want a low commission and fast execution of their strategies.
The layout makes navigation simple, and the drag-and-drop feature enables an easy setup. It is one of the best option trading tools that comes with integrated market data to ensure comprehensive financial research before trade executions. Personal information is secured through SSL encryption in PC and mobile platforms.
Minimum Account Balance: None. INR 1,818,525 equity within 60 days for international accounts.
eOption Charges/Fees: The per-contract fee is just INR 7.27. However, there is an additional charge of INR 144.75 per trade.
eOption is a great option for those who wish to choose from diverse investment products such as equities, ETFs, options, mutual funds, and fixed-income securities.
The platform provides extensive strategy scanning capabilities and ensures commission-free trading. It also provides live expert support to help you reach your trading goals.
Established in 2017, Tastytrade is targeted at active traders and is the brokerage companion to Tastytrade. It offers Web, mobile, and desktop platforms.
Several tools for analyzing and trading options are present on the platform. Additionally, there are also choices for portfolio checking, reading Tastytrade news, know what other traders are up to.
Users can customize color, chart settings, font sizes, and the like. In addition, there are great educational and research materials to improve the trading efficiency of traders.
Tastytrade Pros and Cons
Minimum Account Balance: INR 1,45,482 to gain margin privileges for buying.
Tastytrade Charges/Fees: INR 72.74 per contract. A maximum of INR 727.41 per leg can be charged for options trades.
Tastytrade focuses on derivatives such as options, futures options and futures for professional traders. Moreover, it provides features like curve analysis and Quick order adjustment for making fast and easy changes to your trades.
Additionally, Tastytrade offers multiple trading options, including stocks, options, futures, and now even cryptos.
Tradier Brokerage is a Financial Industry Regulatory Authority (FINRA)-registered equity and options trading software founded in 2012. Account settings for management and market data are based in the cloud. It works best for active and experienced traders.
Traders can attach their brokerage account to a third-party platform like Orion Multi Trader, Stockstotrade, Esignal, 1Option, among others. In addition, the option software has partnered with educators to help traders improve their financial and investing knowledge.
Minimum Account Balance: There is an inactivity fee for international accounts and those with less than INR 1,45,482 and two trades per year.
Tradier Brokerage Charges/Fees: INR 25.46 per contract.
Tardier Brokerage offers a variety of tools, such as paper trading and real time data, which let traders gain valuable knowledge and experience in the options market. Also, Tradier ensures low margin rates, allowing traders to maximize their capital.
Furthermore, it supports seamless integration with third-party brokerage accounts, so users can manage their investments from a single platform.
Suggested Read: Top Swing Trading Apps in India
Zerodha Sensibull is India’s first options trading platform. Moreover, it combines features of a strategy engine with the trading platform that allows execution of the strategy.
This best option trading software in India is available in Free (14 days), Lite and Pro versions. The Lite plan is suitable for beginners, while the pro version is suited for professionals.
Traders can compare options, Get P&L and Greeks in real-time, generate multileg strategies, analyze multiple positions at once, among other choices. Furthermore, users receive data like volatility, risk, and profit/loss potential with the option chain analysis software before trading.
Additionally, with Zerodha Strategy Builder, you can also create and test your own trading strategies.
Minimum Account Balance: Lite at INR 480 per month and Pro at INR 640 per month.
Zerodha Sensibull Charges/Fees: Only pay the normal brokerage.
Zerodha Sensibull provides traders with a robust platform that includes unique tools such as Option Analyst, Futures Conversion, and Event notifications.
Zerodha Sensibull also provides Option Chain and FII Data for the overview of the market and to keep track of institutional investor movements. It is one of the best software for trading, as it also includes tutorials to understand different strategies and tactics for trading.
Opstra is an options analysis platform that helps traders in building strategies. It comes with numerous tools for traders to discover, analyze and track options trading opportunities.
It provides an option strategy builder online. Moreover, traders can back-test their option trading strategies on the live market with virtual money. In addition, there are resources to gain an in-depth understanding of options basics, options strategies, options greeks, and more.
Opstra Pros and Cons
Minimum Account Balance: Aside from a free plan, traders can go for an INR 1000 per month subscription for the pro plan.
Optra Charges/Fees: Opstra options trading software’s paid plan starts at INR 1300 per month.
Opstra is an excellent choice for traders looking for thorough trading experience that does not break the bank. Additionally, it offers a free-to-use segment for F&O, CDS, and MCX trading with an up-to-date results calendar, intuitive dashboard designs, and advanced options tracking capabilities.
Optstra also provides users with powerful analytics tools like Option Algorithms and Open Interest Analysis to identify trends and analyze risk levels.
IQ Option trader is a regulated online trading platform founded in 2013. It is best suited for contract for difference (CFD) trading and binary options.
This trading analysis software offers several tools like economic calendars, stock screeners, multi-chart layouts, volatility alerts and more. Traders can choose from 49 different options.
The proprietary mobile app has all the features of the desktop version. Additionally, the interface is user-friendly and intuitive. The iOS version adheres to all the latest trading rules by Apple.
IQ Option Trader Pros and Cons
Minimum Account Balance: A minimum deposit of INR 727.41 is required.
IQ Option Trader Charges/Fees: The overnight fee for IQ Options Trader is 0.01 percent to 0.03 percent. However, it depends on the face value.
IQ Option is a top choice for modern traders due to its reasonable spreads and fast support. It provides options trading for professional accounts, as well as built-in trading tools, technical indicators, and different deposit options.
Furthermore, its exclusive mobile app and multiple language support make it a convenient and accessible choice for traders around the world.
Olymp Trade is an international options analysis software founded in 2014 that offers forex, CFDs and digital options trading. There are customized strategies, analytics, news, and more for all kinds of traders.
In addition, users can get tips and experience from professional analysts and expert traders. This options analysis software has a special training account to help users trade without risking their funds.
The user can register to receive 10,000 currency units and practice. Then, when a trader is ready, he/ she can switch to a live account, deposit actual funds, and start trading.
Minimum Account Balance: A minimum deposit of INR 727.41 is needed.
Olymp Trade Charges/Fees: Brokerage fee lies between 0.8 to 15% of the total investment.
Olymp Trading is an excellent choice for investors due to its low minimum deposit and access to a sample account. It also includes a multitude of educational materials such as analyst assistance, webinar sessions, and economic calendars.
The platform provides a diverse range of assets to trade, including key currency pairings, indices, commodities, cryptocurrencies, and significant company stocks.
Quantsapp is a cutting-edge trading platform that provides traders with a variety of advanced capabilities. Also, Quantsapp’s innovative algorithm gives users a one-of-a-kind options strategy builder that can produce over 250 million combinations to identify the best trading strategy.
Furthermore, Quantsapp supports pair trading, allowing users to identify high probability pair trades, backtest them, and save them for future use. You can experience options analysis software capabilities and optimize your options trading techniques like never before.
Minimum Account Balance: N/A
Quantsaapp Charges and Fees: Quantsapp options trading software’s paid plan starts at Rs 3250 per month.
Quantsapp trading software offers an all-in-one solution for traders with daily market update notifications, and a wealth of exclusive learning articles for options trading. It also provides a wide range of free and paid trading tools, and the ability to share data points and strategies with friends.
It is a comprehensive platform that caters to traders’ needs, providing valuable insights and resources to enhance their trading strategies and stay ahead in the market.
Any great Options Trading Platform will come with features like advanced charting tools, automated trading, and real time market data analysis to help you trade profitably. Here are some other core features of an options trading software:
Option chains with data streaming in real-time.
Get deeper insights from profit and loss (P&L) or probability charts directly from the option chain. P&L charts are useful for analyzing an option trade theoretically. Users can also view a P&L summary within the chain.
Greeks are the measure of sensitivity to the metric changes in the market. Several available Greeks (like delta, gamma, theta) can be viewed while analyzing an option chain for an open option position. Moreover, their values can be streamed with data in real-time.
Automatically fill in a trade ticket and easily roll an option position to the next relative contract expiration.
Probability analysis tool to calculate probability and analyze hypothetical open positions with a customizable probability histogram or chart.
Analyze the value of an active option position with respect to simultaneous changes in factors like stock/ asset price, date, and volatility.
You can group option positions on metrics like vertical, covered call, and more. You can enter and exit positions quickly to reduce the risk.
Options screener to evaluate options and generate a list of potential trading ideas depending on chart patterns.
Suggested Read: Best Technical Analysis Software for Stock Trading in India
The purpose of options trading varies as per the investor’s goal. Options offer many advantages like added recurring income and protection against the declining stock market. Another benefit of options trading is the high return potential with less risk.
However, options trading involves certain risks that every investor must know before making a trade. For example, options trading often involves lower liquidity with a higher commission of options brokers. Also, its premium value decreases with time.
Given the increasing investors’ interest and the complex nature of options trading, there are multiple option trading tools.
Option trading tools can provide you with the relevant information to make profitable trading decisions depending upon the market changes. With it, you can buy and sell Options from any location globally.
If you are also searching for the best software for trading, you can consider options like E*TRADE, TradeStation, Interactive Brokers, and Tastyworks. Before deciding upon any software, make sure it fits in your budget and offers all the features that you need for trading.
The minimum amount for buying an option is the premium prevailing in the market combined with brokerage and other charges for at least one lot. The number of shares in a lot are variable.
For selling, you need margin money in your account, depending on your broker and exchange. The premium obtained will depend on the future for an option seller.
Traders should be well trained as options trading is quite difficult. You can practice options trading on simulator platforms like Trade Station Mobile, E-Trade, Investopedia, among others.
There are several options trading software like Gatsby, Quantsapp, Sensibull and Robinhood that helps users start options trading with no minimum money in the account.
Robinhood is a good platform to start with options trading, especially for mobile. Options trading for investors on Robinhood comes with no commission, exercise fee, per-contract fee, or assignment fee.
In addition, you can explore more options trading platforms with features like customizable charts and faster real-time response once you have a basic understanding.
E*TRADE is a market leader in option trading software, providing a user-friendly platform with advanced options trading capabilities such as options chains, options analytics, and options strategies.
Different professionals use different softwares according to their taste. However, the most common softwares used for advanced option trading are TD Ameritrade, E*Trade, Tastytrade.
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