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Best Options Brokers

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Written By
James Barra
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Written By
James Barra
James is an investment writer with a background in financial services. As a former management consultant, he has worked on major operational transformation programmes at prominent European banks. James authors, edits and fact-checks content for a series of investing websites.
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Fact Checked By
Michael MacKenzie
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Fact Checked By
Michael MacKenzie
Michael is a writer and editor with over a decade in journalism and publishing. His niche lies in editing and fact-checking content in the financial services sector, with a focus on online brokers and trading platforms. Michael previously reported on politics and economics in the Middle East and edits books for established publishers.
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Updated
Jan 30, 2024

Options are derivative contracts that give you the right to buy or sell an underlying asset at a certain price on or before a set date. As well as allowing investors and companies to hedge against price swings, options contracts are a popular way to speculate on market movements and can be used as tradeable assets in their own right.

Our experts have evaluated and compared dozens of options brokers. To find the best brokers for options trading, we considered:

  • The commission on options contracts
  • The markets you can trade
  • The quality of the options trading platform 
  • The leverage and margin rates available
  • The broker’s regulatory status and reputation

List of Best Options Brokers 2024

These are the 9 best options brokers based on our tests:

Click a broker for details
  1. 1
    FOREX.com
    Active Trader Program With A 15% Reduction In Costs
    Ratings
    4.9 / 5
    4 / 5
    4.3 / 5
    4.6 / 5
    4.6 / 5
    4.3 / 5
    4.8 / 5
    4.5 / 5
    3.6 / 5
    3.8 / 5
    $100
    0.01 Lots
    1:50
    NFA, CFTC
    Forex, Stocks, Futures, Futures Options
    MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
    Wire Transfer, Credit Card, Debit Card, Visa, Mastercard, Skrill, Neteller, ACH Transfer
    USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN
    Go To FOREX.com
  2. 2
    NinjaTrader
    Ratings
    4.3 / 5
    2.8 / 5
    2.9 / 5
    4.3 / 5
    4.5 / 5
    4 / 5
    4 / 5
    4 / 5
    3 / 5
    3.2 / 5
    $0
    0.01 Lots
    1:50
    NFA, CFTC
    Forex, Stocks, Options, Commodities, Futures, Crypto
    NinjaTrader Desktop, Web & Mobile, eSignal
    ACH Transfer, Debit Card, Wire Transfer, Cheque
    USD
    Go To NinjaTrader
  3. 3
    Interactive Brokers
    Ratings
    4.5 / 5
    3.5 / 5
    4.6 / 5
    4.3 / 5
    3.3 / 5
    3 / 5
    4.4 / 5
    4.3 / 5
    4.3 / 5
    4.5 / 5
    $0
    $100
    1:50
    FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM
    Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies
    Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral
    Cheque, ACH Transfer, Wire Transfer, Automated Customer Account Transfer Service, TransferWise, Debit Card
    USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF
    Go To Interactive Brokers
  4. 4
    eToro USA
    Invest $100 and get $10
    Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk. https://www.daytrading.com/ is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD.
    Ratings
    4.3 / 5
    3 / 5
    3.9 / 5
    3.4 / 5
    4 / 5
    3 / 5
    4.3 / 5
    4.5 / 5
    4.3 / 5
    4 / 5
    $100
    $10
    SEC, FINRA
    Stocks, Options, ETFs, Crypto
    eToro Trading Platform & CopyTrader
    ACH Transfer, Debit Card, PayPal, Wire Transfer
    USD
    Go To eToro USA
  5. 5
    Moomoo
    Get up to 15 free stocks worth up to $2000
    Ratings
    4.7 / 5
    3.3 / 5
    3 / 5
    3.8 / 5
    3 / 5
    2.8 / 5
    3.8 / 5
    4.4 / 5
    4.6 / 5
    3.3 / 5
    $0
    $0
    1:2
    SEC, FINRA, MAS, ASIC, SFC
    Stocks, Options, ETFs, ADRs, OTCs
    Desktop Platform, Mobile App
    Wire Transfer, ACH Transfer
    USD, HKD, SGD
    Go To Moomoo
  6. 6
    IG
    Forex trading involves risk. Losses can exceed deposits.
    Ratings
    4.9 / 5
    4 / 5
    4.5 / 5
    3.5 / 5
    4.9 / 5
    4.5 / 5
    4.9 / 5
    5 / 5
    4.6 / 5
    4 / 5
    $0
    0.01 Lots
    1:30 (Retail), 1:250 (Pro)
    FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM
    CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting
    Web, ProRealTime, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral
    PayPal, Wire Transfer, Mastercard, Credit Card, Visa, Debit Card
    USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD
    Go To IG
  7. 7
    Firstrade
    Deposit Bonus Up To $4000
    Ratings
    4.3 / 5
    3.8 / 5
    4.3 / 5
    3.8 / 5
    3.5 / 5
    3.5 / 5
    4.3 / 5
    4 / 5
    0 / 5
    0 / 5
    $0
    $1
    SEC, FINRA
    Stocks, ETFs, Options, Mutual Funds, Bonds, Cryptos, Fixed
    TradingCentral
    ACH Transfer, Wire Transfer, Cheque, Automated Customer Account Transfer Service
    USD
    Go To Firstrade
  8. 8
    Zacks Trade
    Ratings
    3.5 / 5
    3 / 5
    3 / 5
    3.5 / 5
    3.8 / 5
    3.5 / 5
    3.9 / 5
    1 / 5
    0 / 5
    0 / 5
    $2500
    $3
    FINRA
    Stocks, ETFs, Cryptos, Options, Bonds
    Own
    Wire Transfer, ACH Transfer, Cheque
    USD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, RUB, PLN, CZK, HUF
    Go To Zacks Trade
  9. 9
    BinaryCent
    20% - 200% deposit bonus
    Ratings
    2.8 / 5
    2.8 / 5
    3 / 5
    2.5 / 5
    3 / 5
    3 / 5
    1 / 5
    2 / 5
    3 / 5
    3 / 5
    $250
    $0.01
    1:500
    VFSC
    CFDs, Forex, Stocks, Cryptos, Options, Commodities
    Own
    Visa, Mastercard, Debit Card, Credit Card, Skrill, WebMoney, Neteller, Bitcoin Payments, Wire Transfer, Perfect Money, Ethereum Payments
    USD
    Go To BinaryCent

Here is a short overview of each broker's pros and cons

  1. FOREX.com - Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.
  2. NinjaTrader - NinjaTrader is a US-headquartered and regulated brokerage that specializes in futures trading. There are three pricing plans to suit different needs and budgets, as well as ultra-low margins on popular contracts. The brand's award-winning charting software and trading platform also offers a high-degree of customization and superb technical analysis features.
  3. Interactive Brokers - Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
  4. eToro USA - eToro is a social investing platform that offers short-term and long-term trading on stocks, ETFs, options and crypto. The broker is well-known for its user-friendly community-centred platform and competitive fees. With FINRA and SIPC oversight and millions of users across the world, eToro is still one of the most respected brands in the industry. eToro securities trading is offered by eToro USA Securities, Inc.
  5. Moomoo - Moomoo is an SEC-regulated app-based investment platform that offers a straightforward and affordable way to invest in Chinese, Hong Kong, Singaporean, Australian and US stocks, ETFs and other assets. Margin trading is available and the brand offers a zero-deposit account as well as several bonuses.
  6. IG - Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
  7. Firstrade - Firstrade is a US-headquartered discount broker-dealer with authorization from the SEC. The company is also a member of FINRA/SIPC. With welcome bonuses, powerful tools and apps, plus commission-free trading, Firstrade Securities is a popular and top-tier online brokerage. It is also quick and easy to open a new account.
  8. Zacks Trade - Zacks Trade is a FINRA-regulated US broker offering trading on stocks, ETFs, cryptocurrencies, bonds and more through a proprietary terminal. The broker is geared toward active traders and offers very affordable fees on most assets as well as an app and a vast amount of market data.
  9. BinaryCent - BinaryCent is an unregulated binary options broker that offers 24/7 trading on forex, cryptos and stocks with payouts up to 95%. Despite its lack of regulation, this broker takes client security seriously and stores client funds in European banks. The broker also offers CFDs with very high leverage up to 1:500.

Best Options Brokers Comparison

Best Options Brokers Comparison
Broker Options Trading Margin Trading Trading Platform Minimum Deposit Regulator
FOREX.com logo
✔ ✔ MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral $100 NFA, CFTC
NinjaTrader logo
✔ ✔ NinjaTrader Desktop, Web & Mobile, eSignal $0 NFA, CFTC
Interactive Brokers logo
✔ ✔ Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral $0 FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM
eToro USA logo
✔ ✔ eToro Trading Platform & CopyTrader $100 SEC, FINRA
Moomoo logo
✔ ✔ Desktop Platform, Mobile App $0 SEC, FINRA, MAS, ASIC, SFC
IG logo
✔ ✔ Web, ProRealTime, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral $0 FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM
Firstrade logo
✔ ✔ TradingCentral $0 SEC, FINRA
Zacks Trade logo
✔ ✔ Own $2500 FINRA
BinaryCent logo
✔ ✔ Own $250 VFSC

FOREX.com

"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."

Christian Harris, Reviewer

FOREX.com Quick Facts

Bonus OfferActive Trader Program With A 15% Reduction In Costs
Demo AccountYes
InstrumentsForex, Stocks, Futures, Futures Options
RegulatorNFA, CFTC
PlatformsMT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
Minimum Deposit$100
Minimum Trade0.01 Lots
Leverage1:50
Account CurrenciesUSD, EUR, GBP, CAD, AUD, JPY, CHF, PLN

Pros

  • There’s a wealth of educational resources including tutorials, webinars, and a stacked YouTube channel to help you get educated in the financial markets.
  • Alongside a choice of leading platforms, FOREX.com offers a superb suite of supplementary tools including Trading Central research, SMART Signals pattern scanner, trading signals, and strategy builders.
  • The in-house Web Trader continues to shine as one of the best-designed platforms for aspiring day traders with a slick design and over 80 technical indicators for market analysis.

Cons

  • There’s no negative balance protection for US clients, so you may find yourself owing more money than your initial deposit into your account.
  • Demo accounts are frustratingly time-limited to 90 days, which doesn’t give you enough time to test day trading strategies effectively.
  • FOREX.com's MT4 platform offers approximately 600 instruments, significantly fewer than the over 5,500 available on its non-MetaTrader platforms.
Visit FOREX.com
FOREX.com Review

NinjaTrader

"NinjaTrader continues to meet the demands of active futures traders looking for low fees and premium analysis tools. The platform hosts top-rate charting features including hundreds of indicators and 10+ chart types."

Tobias Robinson, Reviewer

NinjaTrader Quick Facts

Demo AccountYes
InstrumentsForex, Stocks, Options, Commodities, Futures, Crypto
RegulatorNFA, CFTC
PlatformsNinjaTrader Desktop, Web & Mobile, eSignal
Minimum Deposit$0
Minimum Trade0.01 Lots
Leverage1:50
Account CurrenciesUSD

Pros

  • Low fees are offered, with $50 day trading margins & commissions from $.09 per micro contract
  • NinjaTrader continues to deliver comprehensive charting software for active day traders with bespoke technical indicators and widgets
  • Traders can get free platform access and trade simulation capabilities in the unlimited demo

Cons

  • Non forex and futures trading requires signing up with partner brokers
  • There is a withdrawal fee on some funding methods
  • The premium platform tools come with an extra charge
Visit NinjaTrader
NinjaTrader Review

Interactive Brokers

"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."

Christian Harris, Reviewer

Interactive Brokers Quick Facts

Demo AccountYes
InstrumentsStocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies
RegulatorFCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM
PlatformsTrader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral
Minimum Deposit$0
Minimum Trade$100
Leverage1:50
Account CurrenciesUSD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF

Pros

  • With low commissions, tight spreads and a transparent fee structure, IBKR delivers a cost-effective environment for short-term traders.
  • While primarily geared towards experienced traders, IBKR has made moves to broaden its appeal in recent years, reducing its minimum deposit from $10,000 to $0.
  • IBKR is one of the most respected and trusted brokerages and is regulated by top-tier authorities, so you can have confidence in the integrity and security of your trading account.

Cons

  • IBKR provides a wide range of research tools, but their distribution across trading platforms and the web-based 'Account Management' page lacks consistency, leading to a confusing user experience.
  • You can only have one active session per account, so you can’t have your desktop program and mobile app running simultaneously, making for a sometimes frustrating trading experience.
  • TWS’s learning curve is steep, and beginners may find it challenging to navigate the platform and understand all the features. Plus500's web platform is much better suited to new traders.
Visit Interactive Brokers
Interactive Brokers Review

eToro USA

"eToro remains a top pick for traders looking for leading social investing and copy trading services. With a low deposit, zero commissions and an intuitive platform, the broker will meet the needs of newer day traders."

Jemma Grist, Reviewer

eToro USA Quick Facts

Bonus OfferInvest $100 and get $10
Demo AccountYes
InstrumentsStocks, Options, ETFs, Crypto
RegulatorSEC, FINRA
PlatformseToro Trading Platform & CopyTrader
Minimum Deposit$100
Minimum Trade$10
Account CurrenciesUSD

Pros

  • eToro USA Securities is a trustworthy, SEC-regulated broker that is a member of FINRA and SIPC
  • The broker's Academy offers comprehensive learning materials for beginners to advanced-level investors
  • A free demo account means new users and prospective day traders can try the broker risk-free

Cons

  • The proprietary terminal doesn't support trading bots and there are no additional stock market analysis tools
  • There's no MetaTrader 4 platform integration for traders who are accustomed to using third-party charting tools
  • Average fees may cut into the profit margins of day traders
Visit eToro USA
eToro USA Review

Moomoo

"Moomoo remains an excellent choice for new and intermediate stock traders who want to build a diverse investment portfolio. What really stands out is the broker's user-friendly app and the low trading fees."

Jemma Grist, Reviewer

Moomoo Quick Facts

Bonus OfferGet up to 15 free stocks worth up to $2000
Demo AccountYes
InstrumentsStocks, Options, ETFs, ADRs, OTCs
RegulatorSEC, FINRA, MAS, ASIC, SFC
PlatformsDesktop Platform, Mobile App
Minimum Deposit$0
Minimum Trade$0
Leverage1:2
Account CurrenciesUSD, HKD, SGD

Pros

  • Moomoo is a Member of FINRA and the Securities Investor Protection Corporation (SIPC), adding another level of security for prospective clients
  • The broker offers access to extended pre-market trading hours
  • The ‘Moomoo Token’ generates dynamic passwords for transaction security - a unique and helpful safety feature

Cons

  • It's a shame that there is no 2 factor authentication (2FA), despite the other security features on offer
  • There is no phone or live chat support - common options at most other brokers
  • There is no negative balance protection, which is a common safety feature at top-tier-regulated brokers
Visit Moomoo
Moomoo Review

IG

"IG continues to provide a comprehensive package with an intuitive web platform, best-in-class education for beginners, advanced charting tools bolstered by its recent TradingView integration, real-time data, and fast execution speeds for experienced day traders."

Christian Harris, Reviewer

IG Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting
RegulatorFCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM
PlatformsWeb, ProRealTime, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral
Minimum Deposit$0
Minimum Trade0.01 Lots
Leverage1:30 (Retail), 1:250 (Pro)
Account CurrenciesUSD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD

Pros

  • IG is amongst the best in terms of its range of instruments, which includes stocks, forex, indices, commodities, and cryptocurrencies, plus recently added US-listed futures and options, providing ample diversification opportunities.
  • IG offers an extensive collection of professional and engaging educational resources, including webinars, articles, and analysis.
  • The ProRealTime advanced charting platform is free as long as certain modest monthly trading activity requirements are met.

Cons

  • IG applies an inactivity fee of $12 per month after 2 years, deterring casual investors.
  • IG has discontinued its swap-free account, reducing its appeal to Islamic traders.
  • While there is negative balance protection in the UK and EU, there is no account protection or guaranteed stop losses for US clients.
Visit IG
IG Review

Firstrade

"Firstrade is perfect for beginners looking to trade US stocks with zero commissions. There is a wealth of free education plus premium-quality research, notably through its latest FirstradeGPT tool, plus trading ideas from Morningstar, Briefing.com, Zacks and Benzinga."

William Berg, Reviewer

Firstrade Quick Facts

Bonus OfferDeposit Bonus Up To $4000
Demo AccountNo
InstrumentsStocks, ETFs, Options, Mutual Funds, Bonds, Cryptos, Fixed
RegulatorSEC, FINRA
PlatformsTradingCentral
Minimum Deposit$0
Minimum Trade$1
Account CurrenciesUSD

Pros

  • Enhanced stock trading environment with overnight trading and fractional shares added
  • Excellent broker for budget-conscious traders with low OTC fees
  • Highly trusted US-regulated brokerage and SIPC member

Cons

  • Firstrade focuses on stocks at the expense of forex, limiting diversification opportunities
  • No demo/paper trading account found at over 90% of alternatives evaluated
  • Customer support still needs work following testing with no 24/7 assistance
Visit Firstrade
Firstrade Review

Zacks Trade

"Zacks Trade will suit active day traders with experience using powerful platforms. Fees and margin rates are low while the market research is excellent."

Tobias Robinson, Reviewer

Zacks Trade Quick Facts

Demo AccountYes
InstrumentsStocks, ETFs, Cryptos, Options, Bonds
RegulatorFINRA
PlatformsOwn
Minimum Deposit$2500
Minimum Trade$3
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, RUB, PLN, CZK, HUF

Pros

  • Demo account
  • 20+ account denominations
  • Customizable proprietary trading platform and mobile app

Cons

  • No forex, commodities or futures trading
  • High minimum requirement of $2,500
  • Shortcomings regarding platform loading times and technical glitches
Visit Zacks Trade
Zacks Trade Review

BinaryCent

"Traders who want a reliable binary options broker with a streamlined platform and high payouts should try out BinaryCent."

Tobias Robinson, Reviewer

BinaryCent Quick Facts

Bonus Offer20% - 200% deposit bonus
Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Cryptos, Options, Commodities
RegulatorVFSC
PlatformsOwn
Minimum Deposit$250
Minimum Trade$0.01
Leverage1:500
Account CurrenciesUSD

Pros

  • Accepts a wide range of funding methods, including cryptos and e-wallets
  • Copy trading and binary options bots are useful for beginner traders
  • Trade binary contracts from $0.10 allowing trading opportunities for all budgets

Cons

  • Not overseen by any reputable regulator, raising risks and reducing customer protections
  • Not available to traders based in the US
  • The $250 minimum deposit is higher than most binary options brokers
Visit BinaryCent
BinaryCent Review

Best Options Brokers For Beginners

These 3 options brokers are best for new traders with a low minimum deposit, a beginner-friendly platform and free education:

  1. Webull
  2. IG
  3. eToro USA

Best Options Brokers For Active Traders

These 3 options brokers are best for active traders with competitive fees, advanced tools and perks for high-volume traders:

  1. AvaTrade
  2. FOREX.com
  3. NinjaTrader

Cheapest Options Brokers

These 3 options brokers offer commission-free trading with no hidden charges:

  1. Webull
  2. SoFi Invest
  3. Firstrade

Best Options Trading Platforms

These 3 options brokers offer the best platforms with a user-friendly interface, reliable order execution and sophisticated analysis tools:

  1. AvaTrade
  2. eToro USA
  3. Plus500

What To Look For In An Options Broker

To compile a list of the best brokers for options, we considered several key factors:

Low Commissions On Options Contracts

Most brokers charge a per-contract fee for options trading. To find the cheapest options brokers, we compared the commission per contract, which typically comes in at around $0.65 per contract. We also look for firms that offer discounts for high-volume traders.

Alongside direct trading fees, we consider non-investing charges. These can take the form of market data fees, regulatory charges, deposit and withdrawal fees, and inactivity penalties. Together, this gives us an objective view of the overall pricing.

A Range Of Tradable Markets

Options contracts can be traded on a range of underlying markets, from stocks and bonds to commodities and currencies. Importantly, the best brokers offer an array of options instruments, allowing traders to build a diverse portfolio.

We compare the underlying markets available to find the options brokers with the greatest breadth and depth in their product portfolio.

Regulated With A Good Reputation

Our team places the highest priority on safety so we always recommend picking an options broker that is regulated by a top-tier financial body. Using a regulated broker to trade options will help protect you from scams and provide security for your funds.

We verify the regulatory status of all the options brokers we review. To do this, we check the broker’s license number (often found at the bottom of the brokerage’s website) on the regulator’s register to confirm they are authorized and which countries they are allowed to accept options traders from.

Only regulated and trustworthy firms make our list of the best options brokers.

High-Quality Platform

The platform is your window to the financial markets and the tool where you can analyze instruments and execute trades. As a result, choosing a reliable, efficient and powerful platform is important.

Our team test the options platform available where possible, either by downloading the desktop software, opening the web trader, or using the mobile app. The key things we look for are a well-designed and easy-to-use interface, rich charting and analysis tools, and straightforward order management.

eToro options trading app
eToro Options App

Margin

While some investors trade options with a cash account, many use a margin account so they can increase their buying power and prospective profits in return for a modest outlay.

Our team compare the margin requirements set by brokers, that is the funds or securities that must be deposited in your account as collateral. We also consider the cost of trading on margin, which is typically a percentage charge based on the amount you borrow.

Our Methodology

To find the best options brokers, our team spend thousands of hours each year, testing, comparing and rating firms.

The categories with the largest weighting in our options broker rankings are the fee per contract, the range of underlying assets, the quality of platforms, margin rates, and the firm’s regulatory credentials and safety record.

Our team also factor in the overall trading experience during the evaluation process to inform the final rating we assign to each options broker.

FAQ

Which Is The Best Options Broker?

We have compiled a list of the best options brokers in 2024. These are the 5 top options trading platforms based on our experts’ findings.

What Is An Options Broker?

Options brokers give traders the ability to trade options contracts on the markets they support, such as US stocks. These derivative contracts give you the right to buy or sell the underlying asset for a set price on or by a certain date.

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