It’s official, I love Optionality!!
Okay, this review is long overdue, but here it is: I love Optionality.
As someone who's been successfully trading options since 2013, I've tried almost every trading app on the market, and Optionality is my favorite.
I've used TOS, TD Ameritrade, E-trade, Firstrade, eTorro options (formerly Gatsby), Aries, Tradestation, etc., but the ease-of-use and streamlined approach offered by Optionality is the best.
After choosing your ticker and direction, Optionality presents the entry cost, max/potential gain, risk level, and breakeven price. They also section off the prepackaged options by "Risk Bucket," allowing you to instantly choose the best option (pun intended) for your risk tolerance.
In my opinion, having that readily available information improves confidence and speed of execution.
For me, they strike the perfect balance between wanting to trade equities (shares) and naked options. I get better upside potential than trading shares, but there's (a lot) less risk than trading naked CALLS and PUTS.
Here's an oversimplified Example:
If I'm bullish on AAPL, I can find a prepackaged credit spread on Optionality for half the cost of a naked CALL, and the upside is exponentially more than buying shares.
Lastly, let's talk about support.
I've been able to reach customer support via phone and email. Email is a lot easier and pretty responsive (less than 30 minutes), but at least on one occasion (I've only called twice), I've been able to speak with someone and receive the support I needed.
They’re nimble, thoughtful about app updates and open to feedback.
Oh yeah...I don't Day Trade on Optionality, so I can't speak to any of that, but as someone who prefers to swing trade—I find it best to use limit orders (as opposed to market orders) on this platform.
As someone who's been successfully trading options since 2013, I've tried almost every trading app on the market, and Optionality is my favorite.
I've used TOS, TD Ameritrade, E-trade, Firstrade, eTorro options (formerly Gatsby), Aries, Tradestation, etc., but the ease-of-use and streamlined approach offered by Optionality is the best.
After choosing your ticker and direction, Optionality presents the entry cost, max/potential gain, risk level, and breakeven price. They also section off the prepackaged options by "Risk Bucket," allowing you to instantly choose the best option (pun intended) for your risk tolerance.
In my opinion, having that readily available information improves confidence and speed of execution.
For me, they strike the perfect balance between wanting to trade equities (shares) and naked options. I get better upside potential than trading shares, but there's (a lot) less risk than trading naked CALLS and PUTS.
Here's an oversimplified Example:
If I'm bullish on AAPL, I can find a prepackaged credit spread on Optionality for half the cost of a naked CALL, and the upside is exponentially more than buying shares.
Lastly, let's talk about support.
I've been able to reach customer support via phone and email. Email is a lot easier and pretty responsive (less than 30 minutes), but at least on one occasion (I've only called twice), I've been able to speak with someone and receive the support I needed.
They’re nimble, thoughtful about app updates and open to feedback.
Oh yeah...I don't Day Trade on Optionality, so I can't speak to any of that, but as someone who prefers to swing trade—I find it best to use limit orders (as opposed to market orders) on this platform.
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Response from developer
Hi Raylosophy, thanks for the detailed review. This absolutely MADE OUR DAY!!! We will be sure to pass your feedback along to our entire team. We deeply appreciate your feedback and continued support!
Execution times
They really need to just focus on getting faster execution & sell times. Takes too long to get an order filled.
Options trading demystified
Great platform, especially if you are a newcomer to the world of financial derivatives. want to dip your toes into options without risking the house or the approval of your wife? Optionality is for you! Great, seamless UI. Demystifies the options trading experience!
Streamlined and Intuitive
A very pleasant experience using the app . Easily understand the risk/reward your taking while playing with options which is very helpful
Great App but Needs More Improvement
Fast support team. Alec the CEO of the company is always quick to answer a call and solve an issue over the phone.
Withdrawal only takes a few hours to hit your bank account.
Complain:
Please improve close order execution to avoid loosing money. Other than than, this broker is a hidden gen in option trading space.
Withdrawal only takes a few hours to hit your bank account.
Complain:
Please improve close order execution to avoid loosing money. Other than than, this broker is a hidden gen in option trading space.
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Great start up
Great app to use makes it easy to trade I’ve been using this app for about 90 days now and made lots of money trading! For anyone learning stocks market this should app should be great for you
Great interface, A1 Support + easy to use
update: Spoke with support via email+voice and was given a lot more clarity and best practices. My account is still active and I’m looking forward to trading on Optionality.
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Overall I like the app but execution was a little shaky for me. Especially during the first and last hour of trading. Limit orders didn’t get filled which led to losses.
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Overall I like the app but execution was a little shaky for me. Especially during the first and last hour of trading. Limit orders didn’t get filled which led to losses.
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Response from developer
Hi Raylosophy, thanks for the review. Customer support is one of our top priorities, we would love to work with you on how we can improve. Please reach out to support@optionalitytrading.com to help us better understand your situation and how we could have handled it better!
Simplicity
By far the easiest way to trade options. From beginners to elite trader’s this app is for you. I’ve enjoyed since downloading it. I’d love to see a black theme though.
By far the best app for trading options and actually making a good profit
The experience you get trading on Optionality is unmatched. It’s extremely easy to understand even if you’ve never touched options. It explains your max profits and loss for each trade you make which is awesome.
I had some funding issues and the CEO, Alec, reached out to me himself to see if there was anything he could do and helped resolve the issue. I also reached out with some questions about my max gain and selling options and he was extremely helpful in explaining how it works. You will not get that kind of client service from any other brokerage from Robinhood to Charles Schwab unless you have millions in your account. Download the app!! It’ll be beyond worth it.
I had some funding issues and the CEO, Alec, reached out to me himself to see if there was anything he could do and helped resolve the issue. I also reached out with some questions about my max gain and selling options and he was extremely helpful in explaining how it works. You will not get that kind of client service from any other brokerage from Robinhood to Charles Schwab unless you have millions in your account. Download the app!! It’ll be beyond worth it.
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Response from developer
WOW Thanks Shahd N! We deeply appreciate the kind words and are so glad we were able to answer all of your questions. Thanks for joining the Optionality community. All recommendations are welcome.
Very Easy For Beginners
A+++++++
User friendly
I’m new to options trading and this app has made it so easy to learn. Great interface with just the right amount of information. Love the app! Great way to start your trading journey!
Your Best Bet for Near Term Speculation
I tried Optionality for near term speculation on a few stocks in mind and it was the best possible choice I could have made.
The value that the platform gave me in terms of: ease of use, productivity, and agility was ideal for my trading philosophy.
I would recommend this app for any trader at any phase in their investing lifecycle.
The value that the platform gave me in terms of: ease of use, productivity, and agility was ideal for my trading philosophy.
I would recommend this app for any trader at any phase in their investing lifecycle.
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Response from developer
Thank you for trying Optionality! We are so happy you are having a positive experience. All recommendations are welcome.
Social security number ???
What does using the apps required my SS numbers ???
I’m not applying for credit card.
I understand name, email address, age… Whatever bruh 🤬
I’m not applying for credit card.
I understand name, email address, age… Whatever bruh 🤬
Conveniently Simple
Awesome app for pre packaged options trading. I can easily find a trade, do my own research and place it right on this platform. I can see my gain and losses pre entering and can easily exit if need be. I’ve been in the trading realm for years and honestly have never seen anything like this! Love the transparency
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Response from developer
Pink Girl 125- thank you for the great review! We are so happy that you value the transparency of our trading process. All recommendations are welcome.
Best Options App Ever!!
Such a cool app. I have been wanting to trade options for years but it was hard to get approval from my broker. Plus, I was so worried about the expense and risk. This app offers amazing spreads that I can trade with little money and little risk. 90% of people that want to trade options don’t because of cash, risk and confusion. This makes things easy, and one can learn fast without breaking the bank while always knowing your limited risk. I can not thank you enough for developing this Awesome App and I recommend anyone interested in trading options to start here. Wish I could give this 10 stars.
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Response from developer
Thank you so much for the awesome review! We are so glad you are having a positive experience. All recommendations are welcome.
Too slow on closing order execution
The app is easy to use and makes trading certain option types very simple to trade. My complaint is order execution, getting into a trade is fairly quick but closing a position even on a liquid stock like Tesla can take all day and still may not execute the closing trade so you have to try again the next day or the next. When the price you set is lower than the market for at least half of the time through out the whole day and the order doesn’t execute, that is frustrating. I’ll trade the identical option ( type, price, expiration date etc. ) on 2-3 other brokers and when I enter the same closing order it usually executes within a few minutes and if it doesn’t, I can edit the order by as little as 2¢ ($2.00) and it will usually execute instantly. Too slow on closing order execution. If they can get closing order executions up to a speed that resembles other platforms, I’d give it 5 stars but not until it accomplishes one of the most important parts of taking your profits where you want to.
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Response from developer
Hi Guitrmakr- thank you for the feedback and for sharing your experience. We have sent you an additional email to dive deeper into your notes around order execution and timing.
New to this & here to stay
I have bounced around a couple different trading platforms, but this is the best user experience by far!
Didn’t know I Needed This…
I was pretty surprised when I realized how simple the trading experience is on Optionality. I always got stuck building trades on other brokerages/ second guessing myself. The harder stuff is done here, just up to me to choose my strategy and risk tolerance. Pretty awesome.
Takes the “scary” out of option trading
I’m a casual stock trader, and have never really thought of getting into options because it’s such a foreign world to me. Optionality took the “scary” out of option trading by making it super simple to understand what’s going on, how much I could lose or gain, how risky it is, etc. I highly recommend trying this out if you’re the type
That is curious about options but concerned you don’t know enough about them to get involved.
That is curious about options but concerned you don’t know enough about them to get involved.
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Response from developer
Thanks for the great review! We appreciate you trying the Optionality app. All recommendations are welcome.
Highly Recommend
App is easily the best in class for options trading! It was easy to set up and has improved my investing performance for options!!!
