Do you wish to acquire Apple (AAPL), Facebook (FB), Netflix (NFLX), or Tesla (TSLA) shares? You must open a trading account with an online broker in this case.
Every trading platform is distinct. Now that all brokers offer commission-free stock and ETF trades, choosing a broker comes down to the whole trading experience. Investors should evaluate investment options, trading instruments, market research, starter education, customer support, and the convenience of use when selecting a broker.
We have the best trading platform for you, named eOption.
eOption was established in 2007, but its parent firm, Regal Securities, has been since 1977. The broker’s target clients are occasional and active options and stock traders, focusing on cost-conscious investors.
Before you jump on the deep discounts, it’s crucial to know that eOption offers a limited selection of products and lacks the tools and resources that long-term investors and novices may require. eOption has expanded its instructional outreach to accommodate a broader range of traders. We’ll examine eOption to help you determine if it meets your trading needs.
TradersUnion has written a detailed eOption reviews. Must check it out!
Usability of eOption
The eOption website is user-friendly, and creating an account is a breeze. You click the green “OPEN AN ACCOUNT” button at the top of any eOption web page. Choose between a practice account and a real one as a starting point. You can check out the comprehensive FAQ or contact the helpful staff via live chat or phone if you
have any questions.
Despite its browser-based interface, eOption Trader looks and feels like a traditional direct-access trading platform. Upon logging in, you’ll be given the option between two different interface styles: the “Basic” layout, simplified for newcomers, and the “Full” form, which contains more navigational elements. You can arrange the available widgets (including order entry ones) by dragging and dropping them. The platform’s incorporation of OptionsPlay is a welcome addition of severe options traders.
The app could be more friendly and versatile than the web-based platform, but the look and feel are similar. You can trade the same assets on both web-based and mobile platforms, and your watchlists will sync. Real-time data and news are available on both platforms, though mobile charting and order entry are more limited.
How eOption Makes Money From and for You
With commissions being charged by fewer brokerages today, how they remain in business needs to be clarified. Here are some ways eOption generates money off of you—and for you.
Clients of eOption are eligible to join in cash sweep programmes. The corporation profits from the difference between the interest it pays on idle cash and the interest it earns on cash holdings. It is advantageous for eOptions clients, as many brokers retain all interest from idle capital. The present rates vary by fund, with investors earning up to 1.18 per cent on idle funds.
Margin interest. The margin interest rates offered by eOption are below the industry norm. The rate ranges from 8.75% for balances under $10,000 to 6.75% for credits above $100,000.
eOption takes $0.00090 per share and $0.34 per options contract on average as payment for order flow. These two brokers are among the few that accept PFOF, ranking near the bottom.
eOption does not provide customers with a stock borrowing service that produces revenue.
eOption’s order router places a premium on lowering prices. As stated by the corporation, there was an average price increase of $0.005 per share of ordinary stock and $0.32 per contract for options.
eOption does not provide portfolio margining, which computes real-time margin for stock and option trades based on risk rather than predetermined percentages. Portfolio margining is typically most effective for clients who trade derivatives to mitigate the risk of equity positions. Given that eOption is an options-focused broker, the lack of portfolio margining is unexpected.
Unlike many of its larger competitors, eOption only attempts to serve some types of financial investors. Instead, eOption caters primarily to options traders, offering great value for those who are proactive and confident in their ability to choose their trading strategies. In addition to cost-effective strategy scanning tools, frequent options traders will find valuable strategy scanning resources. When trading more than four options contracts simultaneously, the pricing ($0.10 per contract plus $1.00 for each trade) is challenging to beat.