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7 Great Futures and Options Trading Platforms, covers the strengths, weaknesses and costs of 7 different Trading Platforms.
Futures and Options trading platforms
Track n’ Trade Live: One of our preferred trading platforms because of it’s ease of market navigation and flexibility in charting features. It’s the only platform that we know of that allows traders to enter options orders directly from a futures chart. This platform also markets unique features such as seasonal charting indicators, Commitments of traders data as a chart plug-in, and the ability to generate automated trading strategies via drop down menus (no programming background required). Additionally Track n’ Trade Live provides option greeks and historical option pricing. The price of this platform starts at $299; it also charges a $40 monthly data fee. Users of Track n’ Trade can view and trade their accounts through the iBroker application.
CityTrader: This platform, made by Optionscity, is fairly new to the scene. Now offer an appealing solution for retail traders, Citytrader, at a cost of $50 per month in addition to a 0.25 cent per contract charge. CityTrader is perceived as a very user-friendly platform, as it is uncomplicated, sleek and convenient. Since it is web-based, this platform can be logged into from any device including Mac computers. A special feature of CityTrader is an easy-to-use drag and drop spread builder, that can be used to create both option and futures spreads. CityTrader also markets its free mobile application. In our opinion, this is a very good low-cost choice for traders searching for high-end option features in a practical and straightforward package.
QST: In our opinion, this is the leading all-round trading platform on sale for futures and options traders. QST offers a powerful charting package with virtually unlimited choices of indicators, drawing tools, and the capability to make your own indicators. It also allows traders to trade from a price chart, enter options orders from an advanced option chain, and provides some option analytics. The only potential drawback to using this platform could be the cost. At the time of this writing, the entry package started at $50 per month, plus 50 cents per trade, but for those searching for the premium version, the price is up to $300 per month. To be honest, the base version is quite restricted so traders can anticipate to pay no less than $200 per month to use QST in its full potential. QST offers a mobile application, which is superior to others on the market but it comes with a premium of $60 per month (in addition to the desktop version charges).
TradeNavigator: Developed by Genesis Financial Technologies is celebrated for its impressive charting ability and extensive culmination of historical price data. It gives traders access to any trading indicator or drawing tool, as well as access to several plugins to the proprietary indicators and trading ideas from recognised commodity speculators. TradeNavigator has several packages to pick from ranging from a one-time cost of approximately $1,500 to free but with a monthly fee of around $70.
CQG Q-Trader: CQG promotes a range of platforms with different costs and strong points. Having said that, the most suitable CQG option for majority of retail traders is the Q-Trader. At $40 per month, this platform offers premium features such as option analytics, option spread trading, and capable charting. It also provides fast and simple point-and-click order entry via a proprietary trading pad. Since the CQG Q-Trader is feature-rich, it is a well-known platform. But, remember this isn’t a platform for beginner traders. It was created for seasoned users and can be too much for those lacking participation in the futures and options markets. CQG provides a mobile application but it comes with an additional subscription fee. Even so, CQG clients can sign into the iBroker application to review their positions and place trades with their mobile phones.
Cummingham’s T4: The T4 is a straightforward platform for options and futures traders. It excels in its ability to execute option and futures spread orders and its exceptionally quick futures order DOM. Some might argue the point that it provides just one system of order entry, the DOM panel, a drawback. Maybe the most convincing justification for using this platform is ease of account entry. The T4 gives traders three ways to sign into their trading account to keep track of positions or enter new orders: through the original desktop version (downloaded software), via a web browser swiftly accessible with any computer without the nuisance of downloading a program application, or on a mobile phone. The price of the T4 differs by bundle, but traders can access the entry version (which should meet the demands of most traders) for a fee of 50 cents per trade, with a $25 monthly base.
BarchartTrader: One of the latest commodity trading platforms originally compatible for Mac, and also available to PC users, is BarchartTrader. This platform gives traders an abundance of past data, ample charting features, and personalised order triggers based on price conditions. BarchartTrader also gives option traders access to options analytics and the greeks, grain traders access to cash market quotes, a futures spread matrix, time and sales data, news and market opinions and commentary. Additionally, it is one of a handful of trading applications built to be operated on several monitors. At $129 per month, it isn’t cheap but you get value for money.
7 Great Futures And Options Trading Platforms Conclusion
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