5 Best SureTrader AlternativesLAST UPDATED: August 3, 2023 | By Conrad Golly
For experienced traders seeking reliable alternatives to SureTrader, this article delves into 5 Best SureTrader Alternatives.
We’ll explore each platform’s key features, from their minimum deposits and trading fees to their trading capabilities and real-time market data.
Whether you are an active trader, day trader, or investor interested in margin trading, mutual funds, or diverse asset classes, these alternatives provide a range of options to suit your needs.
Best SureTrader Alternatives
1- TD Ameritrade
TD Ameritrade is a leading full-service online broker that’s renowned for its quality educational resources, catering to both novice and experienced traders.
Founded in 1975 and later acquired by Charles Schwab in 2019, TD Ameritrade offers a diverse range of asset classes, satisfying the needs of all types of investors, whether active or passive.
Although its options commissions are comparatively higher, the platform’s comprehensive set of financial products on one interface makes it an attractive choice.
The thinkorswim® desktop application, with customizable features and extensive functionalities, pairs well with its mobile counterpart, which allows for seamless trading experiences for options traders, featuring watchlists, real-time data streaming, and charting capabilities.
Options traders using TD Ameritrade can enjoy multi-leg options trading, flexible order routing options, and the ability to backtest trading strategies. The platform also offers the convenience of setting automatic triggers for orders based on predefined criteria.
Beyond being an options-focused platform, TD Ameritrade excels in providing a holistic trading experience with its industry-leading educational resources, top-notch customer service options, and comprehensive financial tools.
E*TRADE is ideal for beginners despite its slightly high fees in options trading. Its powerful and user-friendly desktop, web, and mobile platforms cater to all investors.
Established as an online pioneer in the 1980s, E*TRADE was acquired by Morgan Stanley in 2020. It offers excellent tools, analytics, and comprehensive educational materials for options traders to learn and practice strategies through paper trading.
While not the best option for high-volume, high-frequency traders, E*TRADE compensates with a complete solution for investors with traditional portfolios seeking to explore options trading.
E*TRADE provides more trading opportunities than just options, and it holds its own against many full-service brokerages across a wider set of asset classes.
In addition to its options trading capabilities, E*TRADE provides customers with streaming quotes, news, fundamental stock research, and multiple screeners for stocks, ETFs, mutual funds, and fixed income in addition to options.
It’s a complete solution for investors who have a traditional portfolio of stocks, funds, and bonds but are curious about expanding into options trading for the first time.
Webull started operations in 2017 and adopted a mobile-first approach to target the tech-savvy, young, and active self-directed traders.
With a focus on stocks, ETFs, options, and cryptocurrencies, Webull offers commission-free trading with a plethora of valuable tools and features.
The platform boasts streaming quotes, news, technical and fundamental analysis, and market calendars, empowering users with clear and easy-to-understand graphics.
And while lacking mutual funds and fixed-income trading, Webull excels in charting capabilities, offering stock screeners, watchlists, and simplified options strategies.
Webull’s desktop and mobile platforms are as user-friendly as can be, equipped with a powerful stock screener, customized watchlist, and enhanced charting capabilities.
On top of that, traders can construct various options strategies, such as calendar and vertical spreads, butterflies/condors, and straddles/strangles.
4- Interactive Brokers
Offering an extensive range of security types across multiple markets on a single platform, Interactive Brokers caters to diverse investor needs.
In 2021, it introduced IMPACT, aligning investor values with investments, and Global Analyst, a tool for finding undervalued companies.
The online broker excels in innovative tools for trade analysis and automation, supporting options trading in over 30 global market centers.
Interactive Brokers impresses with low commissions for active options traders. They range from $0.15 to $0.65 per contract.
While it may seem high for lower-volume traders, larger trading volumes lead to commission break points, with the lowest commission of $0.15 per contract achievable by trading more than 100,000 contracts per month.
Advanced options analysis tools are easily accessible through the platform’s mobile application, making it convenient for traders to monitor and manage their strategies on the go.
Tastytrade, a notable SureTrade alternative, was developed by the creators of TD Ameritrade’s renowned thinkorswim® application. The platform was designed to provide self-directed retail traders with access to sophisticated analysis tools and different financial markets.
Geared towards active investors and traders, tastytrade offers trading options limited to stocks, ETFs, options, and cryptocurrencies.
One of tastytrade’s standout features is its competitive fee structure for options trading. While charging $1 per contract to open each leg of an options trade, the platform caps fees at $10 per leg, regardless of trade size.
Additionally, a clearing fee of $0.10 per contract is applied. Notably, tastytrade does not charge a commission for closing positions, making its options trading fees highly competitive.
Alongside its attractive pricing, tastytrade offers robust options analytics, intuitive trade input, and a user-friendly platform workflow.
Traders benefit from thorough options analytics, including profitability graphs, an easy order entry system that automatically sets up trade structures for specific options strategies, and Greeks for multi-leg strategies.
When seeking SureTrade alternatives, several options cater to the diverse needs of traders and investors.
TD Ameritrade emerges as an excellent choice, with its user-friendly platforms and educational resources, ideal for both beginners and experienced traders.
E*TRADE, on the other hand, stands out as a compelling option for those looking to explore options trading while maintaining a traditional portfolio.
Interactive Brokers excels in serving sophisticated traders with its comprehensive platform and advanced options analytics.
For cost-conscious traders, Webull’s fee-free structure and range of assets make it a viable option, especially for higher-volume traders.
Each of the above-listed online trading platforms brings its unique strengths, allowing traders to find the perfect fit for their trading journey.
Before you go: