What broker should use to trade 0DTE options?

As active traders, it’s crucial to have access to the best trading tools while keeping costs as low as possible. Commissions are the biggest cost that traders have to deal with. It’s a balancing act trying to keep those costs as low as possible while making sure you have access to a great broker platform as well.

The Problem with Sticking to One Broker

Most traders get tied into one broker they have used for years. They get used to that broker’s platform and don’t want to mess with the hassle of making a change, which requires paperwork to open a new account as well as funding that new account. However, this can be a costly mistake, as technology changes, markets change, and commissions change over time.

We believe it is important to be open to change over time. In my 20+ years of trading, I have used 5 different brokers.

Why would I change?

Over time, technology changes, markets change, and commissions change. I am always looking to ensure I have the best technology while keeping my costs low.

Key Features to Look for in a Broker

When looking into broker options there are some key features you will want to look for. Here is what we are looking for in a broker.

• Low commissions
• Stable platform
• Access to both desktop and mobile platforms
• Quick access to both trade desk and support team

While there is no perfect broker out there, your broker choice must hit the 4 features mentioned above. You can have cheap commissions but if the platform is always going down when markets are volatile and you can’t quickly reach the trading desk for support those low commissions don’t do you any good.

Popular Options Brokers

The most popular options brokers that our traders use are:

• Tastytrade
• Interactive Brokers
• Schwab
• Fidelity
• Robinhood
• Questrade (Canadian traders)

Our Preferred Broker: TastyTrade

Our preferred broker is TastyTrade. They have a great commission structure in that they charge a flat $1 per contract commission. They also don’t charge a closing commission which means you are only paying to open a trade. Commissions are also capped at $10 per trade of $10 per leg on a spread. This will save you a bundle compared to any other broker.

TastyTrade also doesn’t have different levels of accounts. They won’t limit what you can trade based on your level of experience or account size. If you open an account with them, they will let you trade any strategy that you want.

Benefits of TastyTrade’s Platform

Best of all they have a really powerful and stable desktop platform as well as a great mobile platform as well. When volatility picks up, it is very common for many brokers to experience platform issues. You won’t run into that with TastyTrade.

I also need access to a great mobile platform that will allow me to trade and track markets when not in the office. TastyTrade offers that feature which really gives me the flexibility to trade from anywhere.

Conclusion

Regardless of how long you’ve been trading, it’s essential to be open to what broker options are available to you. If making a change will lower your costs and provide a powerful trading platform at the same time, it’s worth the hassle to make the change. By choosing the right broker, you can improve your bottom line and become a more successful trader.