I've had a chance to work with Opstra's Option Builder, and my experience has been quite positive, especially in terms of the educational aspect it offers. To address your questions:
Interface: I found the interface to be quite intuitive. It's designed with both novice and seasoned traders in mind, featuring a clean layout that doesn’t overwhelm. Navigating through different strategies is straightforward, and it guides you in constructing strategies with visual aids and explanations.
Comparisons: Compared to thinkorswim or Interactive Brokers, Opstra feels lighter in terms of execution capabilities, but it's remarkably strong in options analytics and strategy testing. Thinkorswim, with its powerful thinkScript, is unbeatable for custom scripting and backtesting complexity, while Interactive Brokers offers a robust platform for direct trade execution and market access.
Benefits and Drawbacks: One of Opstra's major strengths is its ability to visualize options Greeks and simulate market conditions, which I found very helpful for understanding potential risk and reward scenarios. A drawback might be that it's not primarily designed for executing trades, so you'll still need another platform like IB for that purpose.
Data Quality: The data quality and historical pricing availability seemed reliable in my usage, with comprehensive coverage that allowed for thorough backtesting over significant periods. This is crucial for stress-testing strategies against past market conditions.
For those just starting, Opstra offers a less steep learning curve and educational resources that make it an excellent starting point. Have you considered what specific strategies you want to backtest? That might also influence which tool best suits your needs.