• At the top of this list, we have Robinhood. It is amongst the newer brokerages having been released back in 2013. Robinhood is widely used by the younger generation of traders and investors and is well known for having commission free trading. Getting started on this platform is fairly easy, especially since there are 2 types of Robinhood accounts. Likewise, trading options on Robinhood is simple, and can be enabled with ease from your account settings. Although it’s easy to get started on Robinhood, there a few drawbacks like, only being able to use charts and indicators on the web application. Not to mention that the timeframes on these charts do not match those of other platforms. Your selection of indicators is limited to moving averages, exponential moving averages, RSI, MACD, and volume. there is currently no way to draw trendlines, nor is there a desktop version. Level 2 market data is also available via a $5 monthly subscription to Robinhood Gold. Overall, Robinhood is very easy to get started on and offers commission free trading, even on options, but there are very few features for technical analysis and charts, which might actually be good for beginners to not get confused, but not necessarily for more experienced traders.

• Next on this list is Webull. With a release in 2017 it is the youngest brokerage on this list. Like Robinhood, Webull also offers commission free trading on stocks and options. There are 3 types of accounts on Webull that you can register for. It is slightly harder to sign up and enable options trading on the platform because your application needs to meet Webull’s criteria for both. If the criteria are not met, you will be ineligible for options trading and/or a Webull account and your application will be rejected. Despite the more complicated sign up process, there are a vast number of indicators to use on charts. The charts range from the 1 minute candle to the yearly candle and can be accessed on all Webull platforms, including a desktop version. You are also able to open a paper trading account on Webull. Level 2 market data is also available for $1.99/month. Webull also has delayed OPRA quotes; you can get real-time OPRA quotes for a cost of $2.99/month. There is also a built-in social media section to interact with other people on the platform. The only real downsides with Webull are that trendlines may be displaced on your charts because of a bug, as well as only being able to receive real-time options quotes by paying for a separate monthly subscription. Webull definitely has more features than other brokerages, but with essential real-time data being locked behind a paywall, this platform falls at #2 on this list.

• At the #1 spot we have Thinkorswim, released back in 1999, making it the oldest brokerage on this list. It is powered by TD Ameritrade meaning you only need to make one account and you can trade on either platform. Thinkorswim was created as an options focused platform. There are various types of accounts on Thinkorswim, ranging from IRAs and joint accounts, to cash and margin accounts. Unlike the other two brokerages, Thinkorswim provides free level 2 market data and has every indicator you can possibly need for technical analysis. Users can also make and upload their own indicators as a study on the platform for other traders to use, as well as access a whole community of traders online. Everything on this platform is well organized and easy to access, including a live visual of the market sectors. Trading options on Thinkorswim is not commission free though. There is a standard commission of $0.65 per option contract. On top of having a web, desktop, and mobile trading platform, you can also access and trade on your Thinkorswim account via Ameritrade’s web, mobile, and desktop platforms as well. For those just getting started there is also paper trading on Thinkorswim, so you can practice trading in real-time without risking any of your actual money. Even though Thinkorswim has a commission fee for trading options, it is easier to open an account, and you get more features than both Robinhood and Webull combined without having to spend on monthly subscriptions.

There are many brokerages to start trading options with, these simply being my top 3 choices. You could create an account with each brokerage listed here and dedicate each account to a different goal and/or purpose, such as having a long-term and a short-term account. You can start trading on whichever platform you feel most comfortable with. Always remember that it’s never too late to start something new, and though there may always be risk, especially in trading, the biggest risk you take is doing nothing.