The broker shortlist
Best Options Broker
OptionsCompare
| # | Broker | Contract fee (USD) | Exercise fee (USD) | Platform | Strategy tools | Futures options | Paper trading | |
|---|---|---|---|---|---|---|---|---|
| 1 |  Ally Invest | $0.50 a contract | — | | — | — | — | View broker |
| 2 |  CenterPoint Securities | $0.50 down to $0.20 | — |  | — | — | — | View broker |
| 3 |  Charles Schwab | $0.65 a contract | — | | — | — | — | View broker |
| 4 |  ChoiceTrade | $0.40 a contract | $5 | | — | — | — | View broker |
| 5 |  Cobra Trading | From $0.30 a contract | — |  | — | — | — | View broker |
| 6 |  E*TRADE | $0.65 to $0.50 | — | | — | — | — | View broker |
| 7 |  Fidelity | $0.65 a contract | — | | — | — | — | View broker |
| 8 |  Futu | $0 a contract | — |   | — | — | — | View broker |
| 9 |  Guardian Trading | From $0.15 a contract | — | | — | — | — | View broker |
| 10 |  Interactive Brokers | $0.65 to $0.15 | $0 | | — | Yes | Yes | View broker |
| 11 |  Lightspeed | Not published | — | | — | — | — | View broker |
| 12 | Moomoo | $0.00 a contract | — | Desktop, Mobile, Web | — | — | — | View broker |
| 13 |  Ocean One Securities | $0.60 a contract | — | Direct access | — | — | — | View broker |
| 14 |  Public | $0 a contract | — | | — | — | — | View broker |
| 15 |  Robinhood | $0.00 a contract | — | | — | — | — | View broker |
| 16 |  SageTrader | $0.30 down to $0.10 | — |  | — | — | — | View broker |
| 17 |  SpeedTrader | $0.35 down to $0.25 | — | | — | — | — | View broker |
| 18 |  SuccessTrader | $0.00 a contract plus $2.99 a ticket | — | Direct access, Route selection | — | — | — | View broker |
| 19 |  tastytrade | $1.00 to open, $0.00 to close | $5 | API, Desktop, Mobile, Web | — | Yes | — | View broker |
| 20 | thinkorswim | $0.65 a contract | $0 | | — | — | — | View broker |
| 21 |  TradeStation | $0.80 to $0.00 a contract | $14.95 | | Multi-leg | Yes | Yes | View broker |
| 22 |  TradeZero | $0.59 a contract | — | | — | — | — | View broker |
| 23 |  Tradier | $0 on the $10 plan | — | | — | — | — | View broker |
| 24 |  Vanguard | $1.00 a contract | — | | — | — | — | View broker |
| 25 |  Venom Trading | $0.75 a contract | — | | — | — | — | View broker |
| 26 |  Webull | $0.00 a contract | — | Desktop, Mobile, Web | — | — | — | View broker |
How we rank an options broker
The round trip comes first: open, close, and the assignment or exercise fee if the contract goes in the money. A broker at zero commission that charges to assign is not free for anyone who holds to expiry.
Then order routing, because payment for order flow decides whether your limit order gets price improvement or gets sold. Then the platform: multi-leg entry, a risk graph, and whether the mobile app can roll a spread.
Every broker is checked against its regulator, and where a firm has a disciplinary record the page says so.