eOption Review

Active, low-cost options traders

FINRA SIPC

Founded 2007 · United States · Regal Securities, Inc.

Why investors choose this broker

Commission-free domestic stock and ETF trades
Low options commissions at $0.10 per contract plus $1.99 per execution
Paper trading account available for practice
Direct-access platforms including DAS Trader Pro and Sterling Trader Pro

Review summary

eOption is a US discount broker offering commission-free stocks and ETFs, low-cost options trading at $0.10 per contract, and direct-access platforms for active traders.

Pros

Commission-free domestic stock and ETF trades
Low options commissions at $0.10 per contract plus $1.99 per execution
Paper trading account available for practice
Direct-access platforms including DAS Trader Pro and Sterling Trader Pro
Free OptionsPlay integration for options analysis
No account minimum for domestic cash accounts
SIPC protection plus excess SIPC coverage up to $25,000,000 per customer

Cons

Inactivity fee of $50/year for accounts under $25,000 with fewer than two trades annually
Wire withdrawal fee of $35 per transfer
No crypto trading available
No fractional shares
No futures trading
International accounts require a $25,000 minimum deposit
Limited fundamental research tools compared to larger brokers
Foreign stock trades cost $39 per trade

Company background

eOption was launched in 2007 as a division of Regal Securities, Inc., a Chicago-area broker-dealer. Regal Securities also operates Regal Discount Securities and Investrade under the same FINRA membership (CRD 7297). eOption is headquartered in Glenview, Illinois, and was built to serve self-directed, active US-based investors seeking low-cost options and equity trading. It has been cited by outlets including Investopedia and NerdWallet for its competitive options pricing.

Fees and pricing

Domestic stock and ETF trades are commission-free. Options trades cost $0.10 per contract plus a $1.99 base charge per execution. Foreign stock trades carry a $39 flat charge. Mutual fund trades cost $5 per trade. Bond trades cost $5 per bond with a minimum of $39 for the first 25 bonds. Auto-trade orders cost $2.00 per equity execution or $3.99 plus $0.10 per contract for options.

There is no account minimum for domestic cash accounts. Margin accounts require a $2,000 minimum and carry rates from 5.95% to 8.95% APR (as of November 2025). An inactivity fee of $50 per year applies to accounts with a total value under $25,000 and fewer than two trades annually; the fee is waived for IRAs and accounts open less than 12 months. Wire withdrawals cost $35; ACH withdrawals are free. IRA accounts carry a $15 annual maintenance fee and $50 closeout fee. International accounts require a $25,000 minimum.

Regulation and safety

eOption is a division of Regal Securities, Inc., a FINRA member (CRD 7297) and SIPC member. SIPC protection covers client accounts up to $500,000 in securities and $250,000 for cash. The clearing firm Hilltop Securities carries excess SIPC insurance extending coverage up to $25,000,000 per customer, with a $900,000 aggregate cash sub-limit. As a US-registered broker-dealer, Regal Securities is subject to SEC oversight and FINRA examination.

Platform experience

eOption offers its proprietary eOption Trader platform on web and desktop, with Level II quotes, advanced order types, charting, and a built-in paper trading environment. Mobile apps are available for iOS and Android. Active traders can access Sterling Trader Pro and DAS Trader Pro (the latter requiring a $25,000 balance), along with a free OptionsPlay integration for strategy screening. Paper trading accounts expire after 60 days for prospective clients; live account holders may keep them indefinitely.

Pros and cons

eOption's main advantages are commission-free domestic stock and ETF trading, low per-contract options pricing, direct-access platform choices, and a paper trading account. The main drawbacks are a $50 annual inactivity fee for low-balance, low-activity accounts (under $25,000 with fewer than two trades), a $35 wire withdrawal charge, limited fundamental research, no crypto or futures trading, no fractional shares, and a $25,000 minimum for international accounts.

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Trading fees & commissions

Stock and ETF trades are commission-free for domestic securities; options cost $0.10 per contract plus a $1.99 base charge per execution. An inactivity fee of $50 per year applies to accounts with fewer than two trades and a total account value under $25,000.

Fees

Item	Fee
Bonds	$5 per bond (minimum $39 for first 25 bonds)
Funds	$5 per trade
Margin	5.95% to 8.95% APR depending on balance (as of November 2025)
Account	No monthly fee; IRA maintenance $15/year with $50 closeout fee
Deposit	ACH transfers free; checks free
Options	$0.10 per contract + $1.99 base charge per execution
Auto Trade	$2.00 per equity execution; $3.99 + $0.10 per contract for options auto-trade
Inactivity	$50/year if total account value under $25,000 and fewer than two trades in the year (waived for IRAs and accounts open less than 12 months)
Withdrawal	Wire transfer: $35 per transfer; ACH free

Trading platform & features

Platforms

eOption Trader
Web app
iOS app
Android app
DAS Trader Pro
Sterling Trader Pro
OptionsPlay

Regulation and investor protection

eOption is a division of Regal Securities, Inc., which is a member of FINRA and SIPC. Client accounts receive SIPC protection up to $500,000 in securities and $250,000 for cash, with additional excess SIPC coverage up to $25,000,000 per customer provided through the clearing firm Hilltop Securities.

Broker FAQs

Is eOption safe?

eOption is a division of Regal Securities, Inc., a FINRA member and SIPC member. Client accounts are covered by SIPC up to $500,000 in securities and $250,000 in cash, with additional excess SIPC coverage up to $25,000,000 per customer through the clearing firm Hilltop Securities.

Is eOption a scam?

No. eOption operates as a division of Regal Securities, Inc., which is a FINRA-registered broker-dealer and SIPC member subject to SEC oversight and FINRA examination.

Is eOption regulated and by whom?

Yes. eOption is a division of Regal Securities, Inc. (FINRA CRD 7297), a registered broker-dealer regulated by FINRA and subject to SEC oversight. The firm is also a member of SIPC.

Does eOption keep client funds in segregated accounts?

As a FINRA member, Regal Securities is required to follow SEC and FINRA rules on the segregation of customer assets. Client accounts also benefit from SIPC coverage and additional excess SIPC insurance through Hilltop Securities.

What happens to my money if eOption goes bankrupt?

Client accounts are protected by SIPC up to $500,000 in securities and $250,000 in cash. Hilltop Securities, the clearing firm, carries excess SIPC insurance providing additional coverage up to $25,000,000 per customer.

What products does eOption offer?

eOption offers domestic stocks, ETFs, options, bonds, mutual funds, fixed-income products including CDs and treasuries, and IRA accounts. It does not offer crypto, futures, CFDs, fractional shares, or forex.

Does eOption offer options trading?

Yes. Options trading is eOption's primary focus. The platform supports buy-writes, spreads, straddles, strangles, butterflies, condors, iron butterflies, iron condors, and rollouts, among other strategies.

Does eOption offer ETFs?

Yes. Domestic ETF trades are commission-free on eOption.

Does eOption offer crypto?

No. eOption does not offer crypto trading.

Does eOption offer futures?

No. eOption does not offer futures trading.

What does eOption charge for stock trades?

Domestic stock trades are commission-free. Foreign stock trades cost $39 per trade.

What does eOption charge for options trades?

Options trades cost $0.10 per contract plus a $1.99 base charge per execution. Auto-trade orders cost $3.99 plus $0.10 per contract.

Is there a withdrawal fee at eOption?

Wire transfers cost $35 per transfer. ACH withdrawals are free.

Does eOption charge an inactivity fee?

Yes. An inactivity fee of $50 per year applies to accounts with a total value under $25,000 and fewer than two trades placed during the year. The fee is waived for IRAs and accounts open less than 12 months.

Does eOption have a demo account?

Yes. eOption offers a paper trading account with a virtual balance. Prospective clients can use it for up to 60 days; live account holders can maintain paper trading indefinitely.

Does eOption have a mobile app?

Yes. eOption provides mobile apps for iOS and Android.

Is eOption good for beginners?

eOption provides a paper trading account and OptionsPlay for strategy analysis, but it has limited educational resources and research tools compared to larger brokers. It is primarily designed for self-directed, active traders rather than beginners.

Is eOption good for long-term investing?

eOption offers stocks, ETFs, bonds, and mutual funds, which can be used for long-term investing. However, the $50 annual inactivity fee and limited fundamental research tools make it less suited to passive, buy-and-hold investors.

Bottom line

eOption suits users who are active, self-directed US-based traders seeking low-cost options commissions, commission-free domestic stock and ETF trades, and access to professional direct-access platforms. It may not suit users who want crypto or futures trading, fractional shares, comprehensive research tools, or who trade infrequently with balances under $25,000.

eOption

Active, low-cost options traders

Open Account

Your capital is at risk. Other fees apply.