Best Options Brokers

Written By

James Barra

Fact Checked By

Michael MacKenzie

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

FOREX.com

Go To FOREX.com
FOREX.com Review

New Customer Bonus Offer Active Trader Program With A 15% Reduction In Costs

Ratings

Regulation & Trust 4.9 / 5

Accounts & Banking 4 / 5

Assets & Markets 4.3 / 5

Fees & Costs 4.6 / 5

Platforms & Tools 4.6 / 5

Customer Support 4.3 / 5

Research 4.8 / 5

Education 4.5 / 5

iOS App 3.6 / 5

Android App 3.8 / 5

Minimum Deposit $100

Minimum Trade 0.01 Lots

Leverage 1:50

Regulator NFA, CFTC

Instruments Forex, Stocks, Futures, Futures Options

Platforms MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral

Payment Methods Wire Transfer, Credit Card, Debit Card, Visa, Mastercard, Skrill, Neteller, ACH Transfer

Account Currencies USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN

Go To FOREX.com
2

NinjaTrader

Go To NinjaTrader
NinjaTrader Review

Ratings

Regulation & Trust 4.3 / 5

Accounts & Banking 2.8 / 5

Assets & Markets 2.9 / 5

Fees & Costs 4.3 / 5

Platforms & Tools 4.5 / 5

Customer Support 4 / 5

Research 4 / 5

Education 3.5 / 5

iOS App 3 / 5

Android App 3.2 / 5

Minimum Deposit $0

Minimum Trade 0.01 Lots

Leverage 1:50

Regulator NFA, CFTC

Instruments Forex, Stocks, Options, Commodities, Futures, Crypto

Platforms NinjaTrader Desktop, Web & Mobile, eSignal

Payment Methods ACH Transfer, Debit Card, Wire Transfer

Account Currencies USD

Go To NinjaTrader
3

eToro USA

Go To eToro USA
eToro USA Review

New Customer Bonus Offer Invest $100 and get $10

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

Regulation & Trust 4.3 / 5

Accounts & Banking 3 / 5

Assets & Markets 3.9 / 5

Fees & Costs 3.4 / 5

Platforms & Tools 4 / 5

Customer Support 3 / 5

Research 4.3 / 5

Education 4.5 / 5

iOS App 4.3 / 5

Android App 4 / 5

Minimum Deposit $10

Minimum Trade $10

Leverage

Regulator SEC, FINRA

Instruments Stocks, Options, ETFs, Crypto

Platforms eToro Trading Platform & CopyTrader

Payment Methods ACH Transfer, Debit Card, PayPal, Wire Transfer

Account Currencies USD

Go To eToro USA
4

IG

Go To IG
IG Review

Forex trading involves risk. Losses can exceed deposits.

Ratings

Regulation & Trust 4.9 / 5

Accounts & Banking 4 / 5

Assets & Markets 4.5 / 5

Fees & Costs 3.5 / 5

Platforms & Tools 4.8 / 5

Customer Support 4.5 / 5

Research 4.9 / 5

Education 5 / 5

iOS App 4.6 / 5

Android App 4 / 5

Minimum Deposit $0

Minimum Trade 0.01 Lots

Leverage 1:30 (Retail), 1:250 (Pro)

Regulator FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB

Instruments CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting

Platforms Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral

Payment Methods PayPal, Wire Transfer, Mastercard, Credit Card, Visa, Debit Card

Account Currencies USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD

Go To IG
5

Interactive Brokers

Go To Interactive Brokers
Interactive Brokers Review

Ratings

Regulation & Trust 4.5 / 5

Accounts & Banking 3.5 / 5

Assets & Markets 4.5 / 5

Fees & Costs 4.3 / 5

Platforms & Tools 3.3 / 5

Customer Support 3 / 5

Research 4.4 / 5

Education 4.3 / 5

iOS App 4.3 / 5

Android App 4.5 / 5

Minimum Deposit $0

Minimum Trade $100

Leverage 1:50

Regulator FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA

Instruments Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies

Platforms Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral

Payment Methods Cheque, ACH Transfer, Wire Transfer, Automated Customer Account Transfer Service, TransferWise, Debit Card

Account Currencies USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF

Go To Interactive Brokers
6

Moomoo

Go To Moomoo
Moomoo Review

New Customer Bonus Offer Get up to 15 free stocks worth up to $2000

Ratings

Regulation & Trust 4.8 / 5

Accounts & Banking 3.3 / 5

Assets & Markets 3 / 5

Fees & Costs 3.8 / 5

Platforms & Tools 3 / 5

Customer Support 2 / 5

Research 3.8 / 5

Education 4.4 / 5

iOS App 4.6 / 5

Android App 3.3 / 5

Minimum Deposit $0

Minimum Trade $0

Leverage 1:2

Regulator SEC, FINRA, MAS, ASIC, SFC

Instruments Stocks, Options, ETFs, ADRs, OTCs

Platforms Desktop Platform, Mobile App

Payment Methods Wire Transfer, ACH Transfer

Account Currencies USD, HKD, SGD

Go To Moomoo
7

Firstrade

Go To Firstrade
Firstrade Review

New Customer Bonus Offer Deposit Bonus Up To $4000

Minimum Deposit $0

Minimum Trade $1

Leverage

Regulator SEC, FINRA

Instruments Stocks, ETFs, Options, Mutual Funds, Bonds, Cryptos, Fixed

Platforms Own

Payment Methods ACH Transfer, Wire Transfer, Cheque, Automated Customer Account Transfer Service

Account Currencies USD

Go To Firstrade
8

Zacks Trade

Go To Zacks Trade
Zacks Trade Review

Minimum Deposit $2500

Minimum Trade $3

Leverage

Regulator FINRA

Instruments Stocks, ETFs, Cryptos, Options, Bonds

Platforms Own

Payment Methods Wire Transfer, ACH Transfer, Cheque

Account Currencies 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

BinaryCent

Go To BinaryCent
BinaryCent Review

New Customer Bonus Offer 20% - 200% deposit bonus

Minimum Deposit $250

Minimum Trade $0.01

Leverage 1:500

Regulator VFSC

Instruments CFDs, Forex, Stocks, Cryptos, Options, Commodities

Platforms Own

Payment Methods Visa, Mastercard, Debit Card, Credit Card, Skrill, WebMoney, Neteller, Bitcoin Payments, Wire Transfer, Perfect Money, Ethereum Payments

Account Currencies USD

Go To BinaryCent

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

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.
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.
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.
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.
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.
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.
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 online brokerage. It is also quick and easy to open a new account.
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.
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
Options Trading	Margin Trading	Trading Platform	Minimum Deposit	Regulator
✔	✔	MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral	$100	NFA, CFTC
✔	✔	NinjaTrader Desktop, Web & Mobile, eSignal	$0	NFA, CFTC
✔	✔	eToro Trading Platform & CopyTrader	$10	SEC, FINRA
✔	✔	Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral	$0	FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB
✔	✔	Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral	$0	FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA
✔	✔	Desktop Platform, Mobile App	$0	SEC, FINRA, MAS, ASIC, SFC
✔	✔	Own	$0	SEC, FINRA
✔	✔	Own	$2500	FINRA
✔	✔	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 Offer	Active Trader Program With A 15% Reduction In Costs
Demo Account	Yes
Instruments	Forex, Stocks, Futures, Futures Options
Regulator	NFA, CFTC
Platforms	MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
Minimum Deposit	$100
Minimum Trade	0.01 Lots
Leverage	1:50
Account Currencies	USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN

Pros

FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.
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.
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.

Cons

Demo accounts are frustratingly time-limited to 90 days, which doesn’t give you enough time to test day trading strategies effectively.
Despite increasing its range of instruments, FOREX.com's product portfolio is still limited to forex and CFDs, so there are no options to invest in real stocks, real ETFs or real cryptocurrencies.
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 Account	Yes
Instruments	Forex, Stocks, Options, Commodities, Futures, Crypto
Regulator	NFA, CFTC
Platforms	NinjaTrader Desktop, Web & Mobile, eSignal
Minimum Deposit	$0
Minimum Trade	0.01 Lots
Leverage	1:50
Account Currencies	USD

Pros

Traders can get free platform access and trade simulation capabilities in the unlimited demo
You can get thousands of add-ons and applications from developers in 150+ countries
Low fees are offered, with $50 day trading margins & commissions from $.09 per micro contract

Cons

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

Visit NinjaTrader

NinjaTrader 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 Offer	Invest $100 and get $10
Demo Account	Yes
Instruments	Stocks, Options, ETFs, Crypto
Regulator	SEC, FINRA
Platforms	eToro Trading Platform & CopyTrader
Minimum Deposit	$10
Minimum Trade	$10
Account Currencies	USD

Pros

Investors can access Smart Portfolios for a more hands-off approach, covering a range of sectors and markets such as renewable energy and artificial intelligence
The broker's Academy offers comprehensive learning materials for beginners to advanced-level investors
The online broker offers an intuitive social investment network with straightforward copy trading on cryptos

Cons

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

Visit eToro USA

eToro USA Review

IG

"IG continues to provide a comprehensive package with an intuitive web platform and best-in-class education for beginners, plus advanced charting tools, real-time data, and fast execution speeds for experienced day traders."
Christian Harris, Reviewer

IG Quick Facts

Demo Account	Yes
Instruments	CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting
Regulator	FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB
Platforms	Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral
Minimum Deposit	$0
Minimum Trade	0.01 Lots
Leverage	1:30 (Retail), 1:250 (Pro)
Account Currencies	USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD

Pros

The ProRealTime advanced charting platform is free as long as certain modest monthly trading activity requirements are met
As a well-established broker, IG operates under strict regulatory guidelines in multiple jurisdictions, maintaining a high level of trust
The proprietary web-based platform continues to caters to traders of all levels, with advanced charting tools and real-time market data useful for day trading

Cons

IG has discontinued its swap-free account, reducing its appeal to Islamic traders
Beginners might find IG’s fee structure complex, with various fees for different types of trades or services, potentially leading to confusion or unexpected charges
Stock and CFD spreads still trail the cheapest brokers like CMC Markets based on tests

Visit IG

IG 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 Account	Yes
Instruments	Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies
Regulator	FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA
Platforms	Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral
Minimum Deposit	$0
Minimum Trade	$100
Leverage	1:50
Account Currencies	USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF

Pros

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.
The TWS platform has clearly been built for intermediate and advanced traders and comes with over 100 order types and a reliable real-time market data feed that rarely goes offline.
There's a vast library of free or paid third-party research subscriptions catering to all types of traders, plus you can enjoy commission reimbursements from IBKR if you subscribe to Toggle AI.

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

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 Offer	Get up to 15 free stocks worth up to $2000
Demo Account	Yes
Instruments	Stocks, Options, ETFs, ADRs, OTCs
Regulator	SEC, FINRA, MAS, ASIC, SFC
Platforms	Desktop Platform, Mobile App
Minimum Deposit	$0
Minimum Trade	$0
Leverage	1:2
Account Currencies	USD, HKD, SGD

Pros

Moomoo is a Member of FINRA and the Securities Investor Protection Corporation (SIPC), adding another level of security for prospective clients
It is reassuring that Moomoo holds licenses with the US Securities and Exchange Commission (SEC) and the Monetary Authority of Singapore (MAS), among others
There is no minimum deposit requirement making the broker accessible for beginners

Cons

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
It's a shame that there is no 2 factor authentication (2FA), despite the other security features on offer

Visit Moomoo

Moomoo Review

Firstrade

"We recommend Firstrade for beginner investors looking to trade US stocks with no commissions. There is a wealth of free education plus premium-quality research and trading ideas from Morningstar, Briefing.com, Zacks and Benzinga."
William Berg, Reviewer

Firstrade Quick Facts

Bonus Offer	Deposit Bonus Up To $4000
Demo Account	No
Instruments	Stocks, ETFs, Options, Mutual Funds, Bonds, Cryptos, Fixed
Regulator	SEC, FINRA
Platforms	Own
Minimum Deposit	$0
Minimum Trade	$1
Account Currencies	USD

Pros

No minimum deposit
Mobile app with advanced features and analysis
Low OTC fees

Cons

No copy trading
No demo/paper trading account
Some withdrawal fees

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 Account	Yes
Instruments	Stocks, ETFs, Cryptos, Options, Bonds
Regulator	FINRA
Platforms	Own
Minimum Deposit	$2500
Minimum Trade	$3
Account Currencies	USD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, RUB, PLN, CZK, HUF

Pros

Customizable proprietary trading platform and mobile app
20+ account denominations
Regulated by FINRA with access to the Securities Investor Protection Corporation

Cons

Withdrawal fees apply if removing funds more than once per month
Shortcomings regarding platform loading times and technical glitches
No MT4 or MT5 platform integration

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 Offer	20% - 200% deposit bonus
Demo Account	Yes
Instruments	CFDs, Forex, Stocks, Cryptos, Options, Commodities
Regulator	VFSC
Platforms	Own
Minimum Deposit	$250
Minimum Trade	$0.01
Leverage	1:500
Account Currencies	USD

Pros

Trade binary contracts from $0.10 allowing trading opportunities for all budgets
Copy trading and binary options bots are useful for beginner traders
Payouts up to 95% are higher than most competitors and increases profit potential

Cons

Not available to traders based in the US
Not overseen by any reputable regulator, raising risks and reducing customer protections
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:

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:

Cheapest Options Brokers

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

Best Options Trading Platforms

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

AvaTrade
eToro USA
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.

Article Sources

The writing and editorial team at DayTrading.com use credible sources to support their work. These include government agencies, white papers, research institutes, and engagement with industry professionals. Content is written free from bias and is fact-checked where appropriate. Learn more about why you can trust DayTrading.com