Interactive Brokers
This year's Advanced Options Traders award goes to Interactive Brokers, which unseats last year's victor, Tasty Trade. This is due to the fact that tastytrade still doesn't provide streaming news or fundamental research, whereas IBKR is making strides towards its goal of being the industry standard.
Thomas Peterffy, the current chairman, established T.P. & Co. in 1978. Founded in 1993 as a U.S. broker-dealer, Interactive Brokers Inc. is credited with developing the first mobile computers specifically designed for trading purposes.Since then, IBKR has risen to prominence as the go-to platform for seasoned investors thanks to its ability to provide access to virtually every type of security traded on the majority of marketplaces.
Pros:
- Superb options screeners and probability calculators
- Superior order execution and order routing controls
- Widest range of trading vehicles and market locations
- Low margin rates Available paper trading
Cons:
- Advanced platform features can intimidate new users
- Order routing not available to all clients No backtesting of custom algorithms
Account Minimum: $0.00
Fees: $0.00 commissions for equities and ETFs available on IBKR’s TWS Lite, or low costs scaled by volume for active traders that want access to advanced functionality such as order routing. $0.65 per contract for options on TWS Lite; that is also the base rate for TWS Pro users, with scaled rates based on volume. $0.85 per contract for futures.
Website: https://www.interactivebrokers.com/en/home.php
