Optionbit Review for 2020 ++ Broker Rating

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tastyworks Review 2020

tastyworks is a US broker offering flexible trading platforms and competitive fees. Unfortunately, they do not offer the MetaTrader platform or forex, CFD and crypto trading. This makes them a limited option compared to other online brokers.

tastyworks Review 2020, Pros & Cons
  • Strict regulations
  • Competitive fees
  • Flexible trading platforms
  • Restricted leverage
  • No MetaTrader platform
  • No forex, CFD or crypto trading
  • No online payment processors
  • USD account currency only

In this detailed tastyworks review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.

tastyworks is not ranked in our best forex brokers, best stock brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including tastyworks.

tastyworks Review: Summary

tastyworks is an online broker with a trading platform for trading stocks, options and futures. They are focused on delivering speedy and stable trading conditions with competitive rates. Fees start from $0.00 on stock trades, $1.00 to open options trades and $0.00 to close.

Founded in 2020, tastyworks is created by the same vastly experienced team behind the tastytrade online financial network and thinkorswim, which is now operated by TD Ameritrade. tastyworks is headquartered in Chicago and primarily geared towards the active trader.

tastyworks Review: Regulation

tastyworks, Inc. (“tastyworks”) is a registered broker-dealer and member of Financial Industry Regulatory Authority (FINRA), National Futures Association (NFA).

In addition to this strict regulation, US clients are protected by the Securities Investor Protection Corporation (SIPC) scheme. The SIPC is an investor protection scheme established in order to protect clients against the loss of cash and securities in case the broker cannot fulfil their financial obligations. The SIPC protection is limited to $500,000 with a $250,000 limit for cash.

It should be noted that some investment products such as futures are not covered by the investor protection scheme and the protection is not available to all clients. Negative account balance protection is not provided. It is important to carefully read through all of the brokers terms and conditions so that you have a clear understanding of the protection offered before you open an account with any brokerage.

tastyworks Review: Countries

Whilst tastyworks is a US broker, they do accept clients from other countries, including throughout Europe. You can see an updated list of accepted countries under the tastyworks international account section of the website. Some tastyworks broker features and products mentioned within this tastyworks review may not be available to traders from specific countries due to legal restrictions.

Best Binary Options Brokers 2020:
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    Perfect Choice For Beginners!
    Free Demo Account!
    Free Trading Education!
    Get Your Sing-Up Bonus Now!

  • Binomo
    Binomo

    Only For Experienced Traders!

tastyworks Review: Trading Platforms

The tastyworks proprietary trading platform is available for desktop, web and mobile. It has been built to offer a fast, reliable and secure trading environment.

tastyworks Desktop Trading Platform

tastyworks Review: Desktop Trading Platform

This is the PC version that runs in Windows and is best for those who want high-powered, high-volume trading with a complete tool-set of features and functionality. It has an intuitive user dashboard layout and workflow, delivering real time market quotes and advanced multi-account support and reporting.

tastyworks Browser Trading Platform

tastyworks Review: Browser Trading Platform

As the name suggest, the tastyworks browser trading platform runs directly in most modern web browsers without needing to download or install any additional software. It can be accessed from any computer and maintains most of the same functionality as the downloadable desktop platform. This is likely to be more suited to the trader who prefers the flexibility of a web platform with the power and features of the desktop platform.

tastyworks Mobile Trading Platform

tastyworks Review: Mobile Trading Platform

The tastyworks mobile trading platform is available for iOS and Android compatible devices and is useful for those who wish to trade whilst on the go. You can easily access and manage your trading account from anywhere in the world with an internet connection. It has the same features as the other platforms just scaled down for trading conveniently from within the palm of your hands.

tastyworks Review: Trading Tools & Education

tastyworks have a section of their website dedicated to educating traders with a range of trading topics catered towards all skill levels. Through their partner website tastytrade, you can get an abundance of videos, learning and research tools to help improve your trading knowledge and skills. The trading tools provided are built within the platform.

tastyworks Review: Trading Instruments & Fees

tastyworks offer competitive commission fees on a range of trading instruments including stocks, options, exchange-traded fund (ETFs) and futures. Fees start from $0.00 on stock trades, $1.00 to open options trades and $0.00 to close.

  • Options on stock – $1 opening trade (per contract, $10 max per leg), $0 closing trade (+ applicable fees)
  • Stock – $0 opening trade (unlimited shares), $0 closing trade (+ applicable fees)
  • Options on futures – $2.50 opening trade (per contract), $0 closing trade (+ applicable fees)
  • Futures – $1.25 opening trade (per contract), $1.25 closing trade (+ applicable fees)
  • Micro futures – $1.25 opening trade (per contract), $0.85 closing trade (+ applicable fees)

As broker fees can vary and change, there may be additional fees that are not listed in this tastyworks review. It is imperative to ensure that you check and understand all of the latest information before you open a tastyworks broker account for online trading.

tastyworks Review: Trading Accounts

tastyworks offer a selection of account types to cater to different trader needs. The “works” account is for active retail traders and gives access to all investment products. There is no minimum deposit for a cash account but you need at least $2,000 for full margin privileges on a margin account.

  • Works Account – Standard retail trader account
  • Individual – Margin or Cash
  • Retirement – Traditional IRA, Roth IRA, SEP IRA
  • Corporate
  • Trust
  • International
  • Joint

tastyworks Review: Customer Service

Customer support is provided 24/5 in English via online chat, telephone and email. They are very friendly and prompt in their responses whilst being happy to answer all general, technical and account questions.

tastyworks Review: Deposit & Withdrawal

tastyworks have a limited choice of methods for depositing and withdrawing funds from your trading account. This includes Wire Transfer, Check, Electronic Bank Deposit (ACH) and by transferring an existing account from another brokerage firm by initiating an ACAT. Some clients may prefer to choose a broker that offers online payment processors such as Skrill, Neteller and PayPal.

The broker may charge some fees when using certain methods. The deposit and withdrawal time can vary depending on the payment provider and method. Bank transfers can take a few business days to clear. Please note that some methods may only be available to specific countries and not all are available for both deposit and withdrawal.

Accounts can only be opened in USD currency which means that currency conversion fees can apply if you are not funding in this currency.

tastyworks Review: Account Opening

Opening a tastyworks account is a simple online process. You just need to complete the short registration form and then fill out your personal information. You will need documents at hand to verify your identification and proof of address (passport, drivers license, utility bill, bank statement, etc).

It can take a few days for the account verification to be complete which is completely normal with US brokers. Once the accounts team have verified your account, you will be able to fund it and start trading online.

tastyworks Review: Account Opening

tastyworks Review: Conclusion

tastyworks is a US broker that is relatively new in comparison to some other online brokers but is backed by a team of experienced individuals with a proven track record. They offer flexible trading platforms and a range of trading instruments along with competitive fees.

You will need to browse the partner site tastytrade for the majority of learning resources and unfortunately they do not currently offer the MetaTrader platform or forex, CFD and crypto trading.

Trading complex instruments can come with a high risk. You should consider whether you understand how investments and trading work and whether you can afford to take the high risk of losing all of your money.

Min $1 Deposit

tastyworks is a US broker offering flexible trading platforms & competitive fees. Unfortunately, they do not offer the MetaTrader platform or forex, CFD & crypto trading.

Optionbit Review for 2020 ++ Broker Rating

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Best Options Trading Platforms

The best options brokers have a wealth of tools that help you manage risk

Investopedia is committed to rigorous editorial standards to provide our readers with the best advice and recommendations. We may receive compensation when you click on links to products we reviewed. Learn more about our methodology and review process.

We recognize that we all are living through a particularly volatile time as we deal with this global crisis, and financial markets have also seen unprecedented change, impacting all investors. Our mission has always been to help people make the most informed decisions about how, when and where to invest. Given recent market volatility, and the changes in the online brokerage industry, we are more committed than ever to providing our readers with unbiased and expert reviews of the top investing platforms for investors of all levels, for every kind of market.

Options trading has become extremely popular with retail investors since the turn of the 21st century. Our best options brokers have a wealth of tools that help you measure and manage risk as you determine which trades to place. They also include valuable education that helps you grow in sophistication as an options trader.

Best Online Brokers for Options Trading in April 2020:

  • tastyworks: Best Options Trading Platform
  • tastyworks: Best Broker for Advanced Options Traders
  • tastyworks: Best Broker for Mobile Options Traders
  • E*TRADE: Best Broker for Beginning Options Traders
  • eOption: Best Broker for Low-Cost Options Trading

Best Options Trading Platform, Best for Advanced Options Trades, and Best for Mobile Options Traders: tastyworks

  • AccountMinimum: $0
  • Fees: $0.00 stock trades, $1.00 to open options trades $0.00 to close

Tastyworks says that more than 90% of the trades placed by its customers are derivatives, so they naturally spend their time designing a lot of tools specifically for options and futures traders. Everything is designed to help traders evaluate volatility and the probability of profit. Tastyworks’ entire platform is geared towards making decisions and taking action. Tastyworks opened its virtual doors in 2020, so it isn’t saddled with legacy systems that bog down many of the older online brokers. This has helped it tremendously in keeping the options trading experience to the essentials. Tastyworks’ executions are fast and the costs are low, with commissions capped for opening orders for options on equities and futures at $10 per leg.

Watchlists are a key component of the tastyworks platform, and they are the same on mobile, web, and download. The look and feel of the mobile platform is very similar to the desktop versions, though you’ll find price wheels and ways to define trades that minimize the possibility of making a mistake. As you build a position from a chart or from a volatility screener, a trade ticket is built for you. There’s also a video viewer embedded so you can keep an eye on the tastytrade network. Though a newcomer to options trading might be initially uncomfortable, those who understand the basic concepts will appreciate the content, features, and focus apparent throughout tastyworks’ platforms.

All of the tools you’ll need for analyzing and trading derivatives are built into the platforms.

The charting capabilities are uniquely tuned for the options trader. If you have multiple positions on a particular underlying, you can analyze the risk profiles of the combined position.

There are hours of original video from tastytrade every weekday, offering up-to-the-minute trading ideas, plus a huge library of pre-recorded videos and shows.

Newcomers to trading and investing may be overwhelmed by tastyworks at first.

There is no fixed income trading (outside of ETFs that contain bonds) for those who want to allocate some of their assets to a more conservative asset class.

Any additional portfolio analysis beyond profit and loss requires setting up a login on a separate site, The Quiet Foundation, which is also part of the tastytrade empire.

Best for Beginning Options Traders: E*TRADE

  • AccountMinimum: $0
  • Fees: No commission for stock/ETF trades. Options are $0.50-$0.65 per contract, depending on trading volume.

New options traders need some help in understanding how trading derivatives can help improve portfolio returns. E*TRADE’s more advanced platforms are elegantly designed and guide you along the way. When you graduate to options and derivatives, the Power E*TRADE website and mobile app can help you learn. The Power E*TRADE site and app can be set up to put the functions you use most often front and center so you don’t have to dig around for them. The platform has all the features inherited from E*TRADE’s acquisition of OptionsHouse technology, which includes a wealth of helpful educational resources for the developing options trader. Watchlists are integrated across E*TRADE’s platforms, and the full range of tradable assets is accessible on the mobile apps. The workflow is very smooth on the mobile apps. We also found that using Power E*TRADE on a tablet is quite pleasant.

Mobile apps are extremely well laid-out and easy to use and are among the most comprehensive and extensive apps tested.

Spectral Analysis on Power E*TRADE is a visually stunning tool that helps you visualize maximum profit and loss for an options strategy and understand your risk metrics

You can test strategies using the paper trading capabilities of E*TRADE Pro’s desktop platform, which uses delayed data so you won’t think you’re placing real trades.

On all platforms, you’ll find a ubiquitous trade ticket with streaming real-time data.

Tiered commission schedule for options trades, charging $0.65 per contract for less frequent traders and $0.50 for those who place more than 30 options trades per quarter.

Investors who would like direct access to international markets or to trade foreign currencies should look elsewhere.

You cannot consolidate your externally-held accounts to form a complete picture of your net worth on E*TRADE.

Best for Low-Cost Options Trading: eOption

  • Account Minimum: $0
  • Fees: $0 per stock/ETF trade, $1.99 base per leg plus $0.10 per contract for options trades

eOption charges $1.99 per leg for options trades, but the per-contract fee is significantly lower than its competitors, making it great for heavy options traders. eOption also offers commission-free stock and ETF trading so those who are options-oriented traders but also want access to other assets at a low cost will have no issues here. Clearing and exchange fees, typically a fraction of a penny per share, are spelled out on the order confirmation screen and are passed through to customers. eOption also scored highly for its relatively low margin rates.

eOption offers great value for frequent options traders.

The browser-based eOption Trader platform is easy to use.

Newsletter subscribers can auto-trade their alerts.

Limited education offerings.

News feeds are limited.

Any OTCBB (penny stock) trades must be made with a live broker.

Other Options Considerations

The commission structure for options trades tends to be more complicated than its equivalent for stock trades. Until the commission cuts that swept the industry in the fall of 2020, most brokers charged a fee for each leg of an options spread plus a commission per contract being traded. The per-leg fees, which made 2- and 4-legged spreads expensive, have been eliminated industry-wide, for the most part. We are also seeing some brokers place caps on commissions charged for certain trading scenarios.

Investors with fairly large portfolios can also take advantage of portfolio margining at some brokers. This is a practice that assesses the total risk inherent in a portfolio that contains stocks and derivatives. Investors with large portfolios can use portfolio margining to reduce the size of the margin loan.

What Kind of Options Trader Are You?

The first and most important piece of information to consider before selecting an options trading account is what kind of trader you are. What is your trading style and risk appetite? Which tools would you like to have handy?

Options are complex products to understand and trade. All of the brokers listed above allow customers to build complex options positions as a single order. Some brokers, such as Vanguard, only allow one position per order, leaving it to the individual trader to place multiple orders one at a time to create a combination position. Merrill Edge lets you place two-legged spreads, but anything more complex will require an additional order.

If you’re just getting started with options trading, the quality of education and help offered by your broker is important. Frequent traders and those who trade a large number of contracts will be more sensitive to commissions and fees, so check out your prospective broker’s charges and make sure you understand them.

Methodology

Investopedia is dedicated to providing investors with unbiased, comprehensive reviews and ratings of online brokers. Our reviews are the result of months of evaluating all aspects of an online broker’s platform, including the user experience, the quality of trade executions, the products available on its platforms, costs and fees, security, the mobile experience and customer service. We established a rating scale based on our criteria, collecting thousands of data points that we weighed into our star-scoring system.

In addition, every broker we surveyed was required to fill out an extensive survey about all aspects of its platform that we used in our testing. Many of the online brokers we evaluated provided us with in-person demonstrations of its platforms at our offices.

Our best options brokers have a wealth of tools that help you measure and manage risk as you determine which trades to place. These brokers include valuable education that helps you grow in sophistication as an options trader. Investors with fairly large portfolios can take advantage of portfolio margining at certain brokers, a practice that assesses the total risk inherent in a portfolio that contains stocks and derivatives, and can reduce the size of your margin loan.

Our team of industry experts, led by Theresa W. Carey, conducted our reviews and developed this best-in-industry methodology for ranking online investing platforms for users at all levels. Click here to read our full methodology.

Real reviews of OptionBit 2020

СОДЕРЖАНИЕ

Broker review OptionBit

“OptionBit” company, whose rating is gradually increasing, offers its clients to perform the most profitable binary options trading. Present days, this broker holds one of the leading positions on the market, and provides its customers with the professional platform for the binary options trading. “OptionBit” broker, reviews about which are available to the public on numerous Forex resources, delivers only the best trading conditions with an extensive set of the binary options and the financial assets. One of the key advantages is that this broker is fully regulated by CySEC authority.

Such license guarantees a high security level while working. The traders may rest assured that their investments will never be used behind their backs. In 2020, “OptionBit” rating helped the company to receive an award from the prestige “FX Empire” financial title.

“OptionBit” company presents the following working conditions:

  • Minimum deposit – $200;
  • “OptionBit” minimum rate – $10;
  • Key options yields – 80 to 400%;
  • Minimum payout – $10;
  • Money withdrawal period – up to 3 days;
  • Effective trading signals.

Reviews about “OptionBit” are very important for the reputation of this company, which gives a possibility to choose among a large amount of the financial contracts, and allows for trading with no need to install some additional software on the customer’s PC. The traders can work with the line diagrams, and the platform’s functionality is quite simple-to-learn and user-friendly by itself. Such functions as “Close Now” and “Roll Over” are among the major advantages in cooperation with this company. “Close Now” function is needed only when the trader wants to close his/her trading positions earlier. “Roll Over” function makes it possible to significantly prolong the option expiration time, which gives an additional chance to succeed in your transaction and allows getting some positive reviews.

“OptionBit” company is happy to present its tutorial program that will be great for the beginners. You can also use video-lessons’ section, in which the basics of work with the binary options are specified.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Perfect Choice For Beginners!
    Free Demo Account!
    Free Trading Education!
    Get Your Sing-Up Bonus Now!

  • Binomo
    Binomo

    Only For Experienced Traders!

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