Top options trading platforms compared

About Top options trading platforms compared

This ranking covers options trading platforms: 101 brands that let you trade options, and most of them do it alongside shares and ETFs. Each is placed on cost, on the safety of the money, and on how the account works day to day. The main trade-off is price against protection. The cheapest contract fees here belong to commission free US brokers, whose legal entities appear in the SIPC member list with cover of SIPC up to USD 500,000. Fineco Bank and Robinhood take the other side, supervised in Europe and covered by EU ICS up to EUR 20,000, while Qtrade Direct Investing is listed with the Canadian Investor Protection Fund. Cost alone does not settle the order. The account itself matters just as much. Joint accounts are the most common type here, offered by 80.6% of the brands, with IRAs close behind, and a mobile app is listed by 95.3% of them. Because options carry leverage, the retail loss percentage is the figure to keep in view: the median across this ranking is 69% and the range runs 48% to 83%.

How we picked

Score is built from weighted parts: trust at 40%, cost at 35% and offer at 25%. Trust covers the regulator named on the licence, the protection scheme, the legal entity and the market list. Cost covers the options fee, equity trading fees, any account fee, any inactivity fee and the minimum deposit. Offer covers account types, platforms, features such as fractional shares, a demo account or crypto, the pricing model and the support channels. Figures come from regulator and protection scheme registers, including the SIPC member list, the ESMA register of client asset portfolios, FINRA BrokerCheck and the CIRO firm register, alongside each brand's own pricing, account and platform pages. The fee shown on a brand's page is the fee used, and no figure is added that a brand does not publish. A missing figure is never read as a weakness. Partner brands are listed first, in the order set out here, and the rest follow on score. Labels are computed, not written by hand.

Our top picks

1. 1. Robinhood

   Robinhood is in this ranking because the cost side is strong and the protection scheme is European. Robinhood Europe UAB is listed with the Bank of Lithuania and SIPC, with EU ICS up to EUR 20,000. The account fee, minimum deposit and inactivity fee come out at $0, $0 and $0, with equity trades at $0 and options at $0. Markets cover stocks, ETFs, options, futures and crypto (stocks, etfs and options), with fractional shares and a mobile app (crypto, fractional shares and options). Retail leverage runs to 10X at a margin rate of 3.95%, which is the point to weigh carefully. Firstrade, ranked next, is the longer standing US alternative with a help centre and phone support.

   • Minimum deposit: $0
   • Stock trade fee: $0
   • Account fee: $0

   Pros

   • Nothing to pay to open or hold an account, with an account fee of $0 and an inactivity fee of $0
   • Trading a share costs $0, so a small first order is not eaten by commission
   • You can start with a deposit of $0, lower than most brands on our data
   • Fractional shares, options, futures, crypto and a mobile app are all available on the same account
   • Supervised by the Bank of Lithuania and a SIPC member, so your money sits with a regulated firm

   Cons

   • Leverage is available at 10X, which magnifies losses as well as gains
   • Outgoing transfers carry a charge of $100 outgoing transfer
   • Margin borrowing is priced at a margin rate of 3.95%, so interest adds to your cost
   • The listed account types cover retirement and joint accounts rather than tax-sheltered UK and European wrappers

2. 8. Webull

   Webull is in this ranking as the mobile first version of the commission free deal, and the numbers hold up. Options fees are $0 and equity trades $0, with stocks, ETFs, options, futures, crypto, bonds and funds available (stocks, etfs and options). It is regulated by FINRA, the SEC and SIPC, with SIPC up to USD 500,000, and the legal entity is WEBULL FINANCIAL LLC. Accounts include an IRA (ira), platforms cover desktop, mobile and web (Desktop, Mobile and Web), and fractional shares, a demo account and crypto are listed (crypto, demo account and fractional shares). Robinhood, ranked next, offers a similar fee profile with European protection instead. The con to watch is transfers, where incoming stock transfers are free.

   • Stock trade fee: $0
   • Markets: Stocks, ETFs, Options, and 4 more
   • Regulators: FINRA, SEC, SIPC

   Pros

   • A stock trade costs $0 and an options contract $0 on the ira account.
   • Investor protection is SIPC up to USD 500,000, with registration under FINRA, SEC and SIPC.
   • A single app covers stocks, etfs and options, so shares, bonds, funds, options, futures and crypto sit together.
   • Fractional shares, a demo account and a mobile app are all in crypto, demo account and fractional shares, and incoming stock transfers are free.

   Cons

   • Support runs on email, phone and help centre, with no live chat listed.
   • Account choice is narrow, with ira the only type listed.
   • Across the brokers compared, the middle retail loss share is 70.15% and the top of the range 88%.

3. 10. Firstrade

   Firstrade is in this ranking as the plain US option with the longest history of the group. Founded in 1985, it lists equity trades at $0, options at $0, an account fee of $0 and an inactivity fee of $0, on a commission free model (commission free). FIRSTRADE SECURITIES INC appears in the SIPC member list alongside FINRA, with SIPC up to USD 500,000. Accounts run to IRA, Roth IRA and joint (ira, roth ira and joint), platforms are web, iOS, Android and iPad (Web, iOS and Android), and the stated audience is beginners, experienced and day traders. moomoo, ranked next, offers a comparable price with a broader feature set. The con here is transfers, where bank transfers are free and wire transfers carry a charge.

   • Minimum deposit: $0
   • Stock trade fee: $0
   • Account fee: $0

   Pros

   • Regulated in the US by FINRA and SIPC, with protection stated as SIPC up to USD 500,000 and a membership record at SIPC member 34642.
   • A traditional IRA, a Roth IRA and a joint account all sit in ira, roth ira and joint under the commission-free pricing in commission free, so retirement and shared accounts hold at the same cost.
   • Fractional shares and a demo account sit in demo account, options and mobile app, which helps the beginners and day traders named in beginners, experienced and day traders start small.
   • Trading runs on the platforms in Web, iOS and Android, so the same account works in a browser and on a phone or tablet.

   Cons

   • The market list in stocks, etfs and options covers stocks, ETFs, options and funds, a narrow range next to eToro at stocks, etfs and forex and CFI at stocks, etfs and forex.
   • Live chat and email are not among the listed support channels (phone and help centre), which pair a phone line with a help centre.
   • An ISA and a SIPP are not among the listed account types (ira, roth ira and joint), which cover a traditional IRA, a Roth IRA and a joint account.
   • Across the site 70.15% of retail accounts lose money, and brands aimed at beginners sit at 74%, so a low price says little about how a portfolio ends.

What to look for

Contract and equity fees

The median equity trading fee in this ranking is €0, and the full range runs €0 to €9. Equity pricing tells you very little about a contract, so read the options fee on the same page before choosing.

Account and inactivity fees

The median account fee here is €0 and the top of the range reaches €105.24. The median inactivity fee is €0 and its range reaches €105.24. Both matter on an account you leave open for a while.

Minimum deposit

The median minimum deposit in this ranking is €0 and the highest listed is €26,308.87. Brokers that ask for nothing sit alongside those that want a real opening balance, which changes who can start.

Where the money sits

US entities named in the SIPC member list show SIPC up to USD 500,000. European entities show EU ICS up to EUR 20,000, and Qtrade Direct Investing is named with the Canadian Investor Protection Fund. Read the scheme next to the amount, because a brokerage account and a bank account are covered differently.

Retail losses

The median retail loss percentage in this ranking is 69% and the range runs 48% to 83%. No broker can change that figure, but it is the reason a low contract fee is not the same thing as a good outcome.

Account types and support

Joint accounts appear at 80.6% of brands in this ranking, IRAs at 61.3%. Phone support is listed by 74.6% of brands and a help centre by 81.4%, which matters when an options position has to be managed fast.

Frequently asked questions

Top options trading platforms compared by country

• Brazil
• Canada
• Germany
• India
• Italy
• Singapore
• United Kingdom
• United States

Brokers compared head to head

• Robinhood vs S Broker
• Robinhood vs CapTrader
• S Broker vs CapTrader

The data behind this ranking

All data and the CSV