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A lot of people are trying their hands at options trading. The general thinking is that options trading is more profitable and that it requires a lesser amount of capital. However, you need a high level of understanding and skill to make money regularly. You should also have a dependable trading platform that you can trust.
In India, hundreds of Indian Brokerage Platforms offer their services in the options segment, and therefore it is quite difficult to determine whose services to avail. This article lists the 8 best options trading platforms available in India that traders can rely on.
The 8 Best Indian Brokerage Platforms for Options Traders Right Now
Zerodha’s Sensibull is a complete package offering almost everything ranging from simplified trading for newbies to powerful trading tools for professionals. It provides one of the best strategy engines and trading platform experiences, making it possible for the user to execute complex strategies easily with a single click. The platform is also power-packed with excellent features like Option Analyzer, Futures Conversion, Event Calendar, etc. Sensibull suggests a list of strategies based on a trader’s market view and provides them with all the essentials such as trade, strike prices, risk, profit and loss potential, etc. This powerful tool is available in three versions i.e Free, Lite, and Pro.
Discount brokers are of immense importance to options traders and Zerodha is one of the most popular discount brokers in India. This online platform built using some of the most advanced technology has got a smooth interface where trades can be executed pretty fast. It offers a range of features like charting tools, data widgets, integration with third-party apps, etc., to make the trading process much easier and faster. Facilities like universal instrument search for instant searches, in-built integration with Quant tool for performing fundamental analysis using behavioral analytics can result in high-quality trades. Moreover, it charges only Rs. 20 per trade for trading options.
Upstox is another popular discount broker whose stats are more or less the same as that of Zerodha. The Upstox Pro platform is very fast and packed with several advanced charting tools, alerts, analysis, back-testing, and many more. It also charges Rs. 20 per trade execution irrespective of the number of lots being traded. But unlike Zerodha, here delivery services are not offered free of cost. The platform has recently waived off its account opening fee and also gives up to 4x margin on writing options on intraday. You can use their option chain with strategy mode and the TradingView and ChartsIQ chart libraries to ace your trading game.
Fyers has an in-house trading platform for both, web as well as mobile systems and offers a seamless trading experience by syncing all the versions with each other. Its options desk has several important features like advanced Options Chain, Orderflow and Technical Analysis, Strategy Building, and Backtesting with PayOff charts and it comes with 40+ built-in Option Strategies, 120+ Technical Indicators, 100+ Drawing Tools, 12+ Chart Types, and many more. Fyers is also one of the cheapest discount brokers in India that allows options trading by just charging a flat brokerage of Rs. 20 or 0.03% per order whichever is lower for every trade being made.
Sharekhan with its dedicated research team provides a great trading experience to professional traders. It provides fast and reliable market data and its advanced charting tools are the best in class for spotting trends & trading opportunities. Upon using this platform you can minimize your risks and maximize the returns with its one-of-a-kind advance orders like Bracket order, Big Trade, Trailing Stop Loss, etc. Moreover, its advance option chain provides option quotes with more than 30 trading strategies along with portfolio greeks, pay-off charts, etc. You can trade from your excel sheets simply by exporting live market streaming data and push orders from there. The platform’s APIs largely help in decision-making.
Ventura’s powerful trading platform called ‘Ventura Pointer’ is an installable trading platform that can be downloaded by users on their respective personal computers and used for trading purposes at any place or time. Its dashboard has a tick listing feature to track each trade with volumes for any time interval. Options trading here is made a lot easier using facilities like the Action Watch that captures important market data such as intraday high and low and the live tracking feature for keeping up with all bulk trades. However, its fees are quite on the higher side.
Kotak’s KEAT Pro X is famous amongst the trader’s community owing to its high speed and easy interface. Traders can rely on this platform for multiple purposes such as placing orders, viewing ordered reports, or simply creating multiple watchlists to keep track of the stocks and markets. KEAT Pro allows up to 100 scripts in each watchlist and its advanced charting features come with more than 30 indicators. Moreover, its huge load of historical data and ten unique drawing tools can be used to deeply analyze different stocks.
HDFC’s ProTerminal is a web-based trading platform that allows both, trading as well as analysis at the same place. Its tools like Sentiment analysis for the analysis of market trends and sentiments involved behind stocks, and Predictive Analysis for determining the future estimation of a stock movement through the leveraging of advanced data algorithms are quite unique. Besides, other advanced trading features like user-defined watchlists to build your own watchlists, technical signals for knowing when a particular stock breaks important levels, or direct order facility from chart screen are really helpful while performing trades.
Selecting a proper trading platform is of utmost importance if you want to start with options trading. You need to be clear about your priorities with respect to costs and facilities before choosing any of them. Choose a platform that would never compromise on the integrity and reputation of the broker. All the above-mentioned brokers are some of the best ones in the Indian market and have their own specialties. So, you can choose either one of them based on your preferences.