Best Options Brokers

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Written By
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Written By
Pip Sears
Pip is a writer and investor. She has traded multiple asset classes and evaluated a long list of CFD and forex brokers. Pip has a degree from the University of Bristol.
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Edited By
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Edited By
Michael MacKenzie
Michael is a freelance 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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Fact Checked By
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James Barra
James is an investment writer with a background in financial services. He has worked as a management consultant, where he delivered large-scale operational transformational programmes at some of the world’s biggest banks. James also has a passion for the retail investing landscape, from finding the best trading brokers to navigating the latest market trends. He authors, edits and fact-checks content for a series of investing websites.

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 2023

These are the 5 best options brokers based on our tests:

Top 3 Broker Comparison

Top 3 Best Options Brokers Comparison NinjaTrader Webull
Options Trading Yes Yes Yes
Margin Trading Yes Yes Yes
Trading Platform MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral eSignal Own
Minimum Deposit $100 $50 $0
Visit Visit Visit Visit

#1 - boasts a global reputation with multiple awards and 20+ years experience. Regulated in the US, EU, UK and Canada they provide a huge range of markets, not just forex, and offer competitive fees on a cutting-edge platform. The brand also provides a suite of additional tools, from performance analytics and SMART Signals to advanced charts and strategy builders.

" is an excellent broker for forex traders with over 80 currency pairs, tight spreads, low commissions and powerful platforms. The brand is also heavily regulated while its parent company is listed on the NASDAQ, giving it a high trust score."

- DayTrading Review Team
  • Instruments: Forex, Spot Metals
  • Regulator: NFA, CFTC
  • Platforms: MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
  • Min. Deposit: $100
  • Min. Trade: 0.01 Lots
  • Leverage: 1:50

Forex Trading is a leading FX broker. The brand offers a wide range of currency pairs and some of the lowest fees in the industry. Spreads on the EUR/USD come in as low as 0.0 with a $7 commission per $100k.

Stocks Trading offers access to thousands of US, EU and UK stocks, with spreads of just 1 point. Speculate on household names as well as new IPOs. US stocks are available from just 1.8 cents per share.


  • Free demo account for prospective traders
  • Respected and trusted broker overseen by tier-one regulators including the US SEC
  • Low minimum deposit of $100


  • No copy trading platform
  • $15 monthly inactivity fee
  • Investment offering varies between countries

#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.

"We recommend NinjaTrader for high-volume futures traders looking for low fees and premium analysis tools."

- DayTrading Review Team
  • Instruments: Forex, Stocks, Options, Commodities, Futures, Crypto
  • Regulator: NFA, CFTC
  • Platforms: eSignal
  • Min. Deposit: $50
  • Min. Trade: 0.01 Lots
  • Leverage: 1:50

Forex Trading

NinjaTrader supports the trading of popular currencies including the EUR/USD. The trading software also offers unique features tailored to forex trading, including specific order and market windows.

Stocks Trading

Stocks can be traded by connecting the NinjaTrader platform to supporting brokers. You can then take positions on large public companies and household names via advanced trading software.

Crypto Trading

Trade micro Bitcoin futures with low fees and leading charting tools. Get exposure to Bitcoin through CME Group's centralized exchange with robust risk management tools.


  • Free platform access and trade simulation capabilities
  • Thousands of add-ons and applications from developers in 150+ countries
  • Low fees with $50 day trading margins & commissions from $.09 per micro contract


  • Premium platform tools come with an extra charge
  • Non forex and futures trading requires signing up with partner brokers
  • Withdrawal fee on some funding methods

#3 - Webull

Webull is a US-regulated trading app that offers stocks, options, forex, cryptos, ETFs, fractional shares and more. The firm is authorized by the SEC and FINRA with a strong trust rating. Low fees, no minimum investment and generous bonuses have made the discount broker popular with online investors.

"Webull is best for traders looking to buy and sell stocks on a user-friendly app with zero commissions."

- DayTrading Review Team
  • Instruments: Stocks, ETFs, options, cryptos, forex, ADRs, fractional shares, OTCs
  • Regulator: SEC, FINRA
  • Platforms: Own
  • Min. Deposit: $0
  • Min. Trade: 0.01 Lots
  • Leverage: 1:4

Forex Trading

Webull offers a modest collection of 17 currencies, including majors like EUR/USD. Forex can be traded on the feature-rich investing app with real-time quotes and low spreads.

Stocks Trading

Webull offers a fantastic list of 2000+ US stocks, fractional shares, options, ETFs, OTC, and ADRs. There is no commission on stocks, ETFs, and options. Full extended trading hours is available while custom screeners and watchlists aid the decision making process.

Crypto Trading

Webull offers trading on popular cryptos like Bitcoin against the US Dollar. With 35+ tokens and premium analysis tools, traders can review market trends and identify opportunities in a few taps.


  • Smart Advisor for auto investing
  • Easy-to-use investment platform and mobile app
  • Brokerage account plus IRA


  • Sometimes sudden changes in trading conditions
  • High deposit and withdrawal wire fees for non-US residents
  • Day trading is limited for customers with less than $25,000 deposited

#4 - IG Group

IG is an award-winning broker that has an excellent reputation globally. The brand-US offers spread betting, CFD and forex trading across a comprehensive suite of markets. IG is also multi-regulated, provides a great trading app and has 50 years experience.

"IG offers a superb all-round package. Beginners will appreciate the user-friendly web platform and secure trading environment while established investors will rate the 17,000+ markets and top-tier market research."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting
  • Regulator: FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA
  • Platforms: MT4, AutoChartist, TradingCentral
  • Min. Deposit: $0
  • Min. Trade: 0.01 Lots
  • Leverage: 1:30 (Retail), 1:250 (Pro)

CFD Trading

IG offers an impressive suite of 17,000+ CFD instruments. Negative balance protection ensures accounts cannot drop below zero while custom price alerts and the IG Academy enhance the trading experience.

Forex Trading

IG offers currency trading on its award-winning web platform and mobile app. Comprehensive charts and forex analysis tools are also available through ProRealTime.

Stocks Trading

IG offers 13,000+ shares, with more listed firms than most competitors. Fees are low with no commission on US stocks. Extended hours trading is also available alongside ultra-fast execution speeds of 0.014 seconds.

Crypto Trading

11 popular cryptos are available, plus two crypto crosses. A crypto index is also offered, following the value of the top 10 digital currencies by market cap. All cryptos are available via CFDs.


  • Share dealing and ISAs are available for longer term investing
  • Opening an account takes less than 5 minutes
  • Over 17,000 assets are available spanning stocks, forex, commodities, baskets, futures, options and more


  • Inactivity charge
  • No copy trading platform

#5 - Moomoo

Moomoo is an SEC-regulated app-based investment platform that offers a straightforward and affordable way to invest in Chinese, Hong Kong and US stocks, ETFs and other assets. Margin trading is available and the brand accepts low minimum deposits while also decent several bonuses.

"Moomoo will appeal to stock traders who want to build an investment portfolio through a user-friendly app with low to zero commissions."

- DayTrading Review Team
  • Instruments: Stocks, Options, ETFs, ADRs, OTCs
  • Regulator: SEC, FINRA, MAS
  • Platforms: Own
  • Min. Deposit: $0
  • Min. Trade: $0

Stocks Trading

Moomoo offers online US and Hong Kong stocks, and China-A shares trading across options, ETFs, ADRs, OTC, plus IPOs on a proprietary trading platform. The zero commissions, no account minimum and free level 2 data are standout features.


  • Regulated by US Securities and Exchange Commission (SEC) and the Monetary Authority of Singapore (MAS)
  • Member of FINRA and the Securities Investor Protection Corporation (SIPC)
  • Access to full extended pre-market trading hours


  • No phone or live chat support
  • High margin rate fees
  • Aimed mainly towards US residents

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 Group
  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
  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


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.


Which Is The Best Options Broker?

We have compiled a list of the best options brokers in 2023. 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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