So you have decided to try your feet at options trading and would want to find the best trading platform? Below are tips by Yee Kok Siong that will help you choose the best options trading platform.
Functionality and ease of use
Depending on your trading experience, you will want to ensure that the platform provide you enough features to allow you to trade effectively. Novice users might want a basic platform without too much gimmicks that may confuse them while more advanced traders might want to have full access to the trading platform. Also you might want to pay attention to the user interface to make sure that it is easy and not confusing to use.
Commission and fees
You are into trading to make money and you will not want to have all your profit being eaten in commission and fees. For this reason you would want to choose a platform that does not charge exorbitant fees. However you should bear in mind that there is usually a trade-off between the amount of commission and fees and the functionalities offered on the platform. Going for the cheapest one can sometimes not be a good idea.
Educational Resources
If you are a beginner or someone that just want to keep learning, you would want to consider the amount of educational resources offered by the platform. This can be in the form of articles, interactive tutorials or latest insights in the world of trading. Indeed this can be the difference between succeeding at options trading and failing. This is why it might be a good idea that you consider the amount of educational resources available on the platform before signing.
Support service
There are times that you might run into issues with the trading platform and you would want to reach the support service. For this reason you must ensure that there are proper communications in place that will allow you to reach support. For instance you might want to have a phone number that you can call besides an email. This will allow you to reach support quickly and effectively if ever you run into a problem with the platform.
Choosing the best trading platform is very important if you want to succeed as an investor. Indeed options trading is a very demanding activity and you will not want to decrease your chances by using a wrong platform.
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