Broker/Advisor | Best For | Commissions | Next Steps | |
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Featured Offer
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Best For: Commission free options trading | Commission: $0 for stocks, ETFs, options, and cryptocurrencies | ||
2024 Award Winner
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Best For: Low fees | Commission: $0 for stocks, $0 for options contracts | ||
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Best For: Options app trading | Commission: Commission-free; other fees apply | ||
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Best For: Low option trading fees | Commission: $0 per options trade, $0.15-$0.65 per contract | ||
2024 Award Winner
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Best For: Options-first trading platform | Commission: $0 for stocks, $1 per option contract (opening trades only), 1% per crypto purchase and sale | ||
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Best For: Active traders | Commission: $0 per options trade, $0.60 per contract | ||
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Best For: Commission free options trading | Commission: $0 per trade | ||
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Best For: Low options trading fees | Commission: $0 per options trade, $0.50 per contract |
One key point to keep in mind is that there's no such thing as the best platform for options trading for everyone, and the costs and features should be weighed with your own preferences in mind before you billion casino royal:open a brokerage account of your own.
For example, billion casino royal:Robinhood has no commissions for options trades whatsoever, but its platform is very light on functionality and features, which makes it appropriate for investors who don't necessarily need educational resources and just want to dabble in basic billion casino royal:call and put trades. On the other hand, an options broker like E*TRADE charges commissions, but is packed with features and resources 🎉which could be worth far more than the commission costs for many investors.
Here are some of the main features to consider when picking the best platform to trade options below:On Robinhood's Secure Website.
On Robinhood's Secure Website.
On SoFi Active Investing's Secure Website.
On E*TRADE's Secure Website.
On Interactive Brokers' Secure Website.
On Tastytrade's Secure Website.
On TradeStation's Secure Website.
On Webull's Secure Website.
Best broker for options traders who: Want a user-friendly pla♏ce to cheaply buy and sell options.
Robinhood pioneered commission-free online trading, and this doesn't just apply to stocks -- it is one of the few brokers to offer options trading with no per-contract fees whatsoever. It offers an excellent easy-to-use mobile app, and while it isn't the most sophisticated trading platform by any definition, it can be a great way for beginners and seasoned options traders to buy and sell options.Read our full review of billion casino royal:Robinhood.
Best broker for options traders who: Want an🎐 all-in-one financial app that offers options trading.
SoFi, short for Social Finance, is an app-based platform that aims to not only disrupt the brokerage industry, but the entire banking business. Its app offers checking and savings accounts, credit cards, loans, as well as an excellent investment platform. While it isn't exactly packed with advanced trading tools, SoFi Active Investing offers several unique features, including commission-free options trading. If you're looking to start trading options, but like having all of your investments and other financial accounts in one place, SoFi deserves a spot on your list.Read our full review of billion casino royal:SoFi Active Investing.
Best broker for options traders who: Want a full-featured broker with options trading tools for beginners and experienced inv✱estors.
E*TRADE, which is a part of Morgan Stanley, is a solid choice for investors who want to trade options. It offers tons of account types, investment choices, educational resources, and more. One of the best parts of E*TRADE is that it offers several different trading platforms, including the Power E*TRADE platform, which is a favorite among active options traders. There are even two mobile apps, one designed for everyday trading and investing, and a mobile version of Power E*TRADE to provide maximum functionality on the go.Read our full review of E*TRADE.
Best broker for options traders who: Want a discount brokerage that offers low-cost options tr🦋ading.
Ally Invest offers low-cost options trading (as well as many other investment options) in an easy-to-use app based platform. There's no minimum deposit requirement to open an account, and both its web-based and app-based trading platforms make it easy to get started with options trading, although they are light on advanced trading features.Read our full review of billion casino royal:Ally Invest.
Best broker for options traders who: Want to get started with options trading and need a platform for both beginners and experienc📖ed traders.
TradeStation is an excellent combination of a feature-rich platform for advanced options traders and a good place for beginners to dip their toes into options trading. There are several different trading platforms available to meet everyone's needs, and there are many different types of investments available. TradeStation's biggest downside is its commission structure, which isn't exactly expensive, but there are several rivals that could be more cost-effective for options trading.Read our full review of billion casino royal:TradeStation.
Best broker for options traders who: Want free♏ options t𒈔rading in an app-based platform with advanced trading tools.
Webull isn't the only app-based broker, but it's unique in the sense that it's an app-based platform designed for active traders. That means it combines the ease of use you'll get from a trading app with features like advanced charting tools and the ability to place complex options orders. Webull is also one of the few brokers that offers options trading with no per-contract fees. It also allows investors to open IRAs to invest for retirement, and also has some of the best margin interest rates in the industry.Read our full review of Webull.
Best broker for options traders who: Want a high-powered trading platform and low commissiꦗons.
Interactive Brokers is a well-rounded brokerage platform for all investors, but it is best-known for its powerful trading platforms and its low commissions. It is especially cost effective for active traders who use the IBKR Pro platform, which gives commission discounts based on trading volume. There are excellent web-based, desktop, and mobile trading platforms, including IB Trader Workstation, which is a feature-packed platform that is designed for experienced and active traders.Read our full review of billion casino royal:Interactive Brokers.
Best broker for options traders who: Want a top-notch technology platform specifically designed ꦍfor o🌱ptions.
It's tough to talk about the best choices for options traders without including Tastytrade in the conversation. The entire brokerage platform was specifically designed with options traders in mind and was founded by several pioneers of online options trading technology. It has an excellent commission structure, especially for those who trade large numbers of contracts, and its trading platform is feature-packed and has several tech features that are above and beyond what the competition offers.Read our full review of billion casino royal:Tastytrade.
J.R. Fenwick
CEO of FLipThatStock.comJ.R. Fenwick, CEO of FLipThatStock.com and Eric V. Johnson, an Options Expert💎 are Co-Creators of “The FLip That Option Game” (FLipThatOption.com) a game that teaches beginners a specific options strategy that has low risk. They have been featured in Black Enterprise and numerous TV interviews.
Options are contracts that let investors speculate on the future price of something, typically stocks. In its simplest form, an options contract lets -- but never requires -- the options buyer to purchase or sell stocks at a pred🌳etermined pri𓆏ce by a set date. If the buyer decides to exercise their contract, the seller must follow through.
Options can be broken down into two basic types:LEARN MORE: billion casino royal:How to trade options
OPTIONS BROKER | COMMISSION TO TRADE 10 CONTRACTS |
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Robinhood | $0.00 |
SoFi Active Investing | $0.00 |
Webull | $5.00 - $6.50 |
E*TRADE | $6.00 |
TradeStation | $5.00 |
Ally Invest | $1.50 - $6.50 |
Interactive Brokers | $10.00 |
Tastytrade | $0.00 |
Most of the best options brokers don't charge these fees anymore. Exceptions are billion casino royal:TradeStation, which charges $14.95 for both options exerci💙se and assignment, and SoFi, which charges $5. If you don't plan on holding options until their expiration dates, this shouldn't necessarily be an issue, but it's still worth keeping in mind.
As mentioned before, most of the best options brokers have commission free options trading, but do charge a small fee per contract traded. Robinhood and Webull are the few free options trading platforms that have 100% free options trading, both a $0 commission and no per-contract fees for online trades. Robinhood and Webull also apply this same approach to stocks, ETFs, and cryptocurrency.
OPTIONS TRADING APP | GOOGLE PLAY STORE RATING (OUT OF 5 STARS) | APPLE IOS RATING (OUT OF 5 STARS) |
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Robinhood | 4.1 | 4.2 |
SoFi Active Investing | 4.1 | 4.8 |
Webull | 4.3 | 4.7 |
E*TRADE | 3.9 | 4.6 |
TradeStation | 3.9 | 4.5 |
Ally Invest | 3.6 | 4.7 |
Interactive Brokers | 4.6 | 4.0 |
Tastytrade | 4.4 | 4.1 |
Robinhood, Webull, E*Trade, Tradestation, and SoFi Active Investing are rated as some of the billion casino royal:best investment apps overall by everyday users. But when it comes specifically to the best app to trade options, we think Robinhood and E*Trade are top picks to consider with this narrowed focus. These are the best apps for trading options based on a number of factors, including overall user ratings, options trading feesඣ, simplicity to𝄹 use, and the overall capabilities of their mobile app compared to full-featured online experiences.
See our full methodology here: billion casino royal:Ratings Methodology
Call options give you the right (but not the obligation) to buy a certain stock at a certain price by a specific date. Call options provide another way to profit on the rising price of a company's stock without buying shares. In billion casino royal:options trading, each contract gives you the right to buy 10🧜0 shares at a given price, so if the stock price goes up before your option expires, you can profit.
Put options give you the right (but not the obligation) to sell stock at a certain price in the future. If you believe a company's shares will go down in value, put options let you profit on that assumption.Options trading is subject to the "pattern day trading" rule, which classifies any investor who makes four or more day trades within five business days as a day trader. If you're classified in this way, you must keep a minimum equity balance of $25,000 in your account on any day that you're trading (check with your online broker as they may have different requirements). In options trading, a day trade is defined as closing a contract on the same day you open it.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of billion casino royal:publishing standards and editorial integrity while ma𝔍intaining professional separation from the analysts and editors on other Motley Fool brands.
Robinhood disclosure
All investments involve risk and loss of principal is possible. Securities are offered through Robinhood Financial LLC, member /. Cryptocurrency services are offered through an account with Robinhood Crypto, LLC (NMLS ID 1702840). Robinhood Crypto is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Cryptocurrency held through Robinhood Crypto is not FDIC insured or SIPC protected. For more information see the .Trades of stocks, ETFs and options are commission-free at Robinhood Financial LLC. Other fees may apply. Please see Robinhood Financial’s to learn more.Fractional shares are illiquid outside of Robinhood and are not transferable. Not all securities available through Robinhood are eligible for fractional share orders. For a complete explanation of conditions, restrictions and limitations associated with fractional shares, see the Fractional Shares section of our . Robinhood Gold is an account offering premium services available for a $5 monthly fee. Not all investors will be eligible to trade on Margin. Margin investing involves the risk of greater investment losses. Additional interest charges may apply depending on the amount of margin used. Bigger Instant Deposits are only available if your Instant Deposits status is in good standing.