Top picks for options brokers
Best broker for options trading - tastytrade
| Company |
Minimum Deposit |
Stock Trades |
Options (Per Contract) |
 tastytrade
|
$0.00 |
$0.00 |
$0.50 info |
Why tastytrade is the best broker for options trading in 2025: Built specifically for options traders by experts in the industry, tastytrade is designed for every options strategy from simple covered calls to advanced multi-leg spreads. My testing showed that the platform doesn’t stop at simply being functional, it’s built to optimize and improve the options trading experience. tastytrade is designed around how real options traders think, strategize, and execute.
Options education: Options education is one of tastytrade’s defining strengths, giving it a distinct edge over competitors. tastytrade offers the most structured, in-depth options courses available, tailored for every skill level. Most brokerages struggle to connect education with real-world application, but tastytrade greatly excels at this mission. This is also the unique strength of its media affiliate tastylive, which provides a live webcast. There you can watch seasoned traders make real trades, follow their strategies, and, most importantly, see how they manage positions. Additionally, if you want to test before you trade, tastytrade offers a powerful backtesting tool that lets you test by delta and compare performance to the S&P 500, an innovative and highly practical way to refine strategies.
Options tools: Of course, education alone is not enough; you also need the right tools to apply that knowledge effectively. The interactive options chain allows you to build trades visually as you go. As you structure an options position, tastytrade displays net greeks in real time, helping you understand your exposure before executing a trade. Once a trade is executed, positions are automatically grouped, making it easy to manage options strategies, whether it’s a simple covered call or a complex four-leg spread. Trust me, if you’ve ever used a brokerage that doesn’t do this, you know how confusing options trading can become.
Mobile app for options: Unlike many other platforms, tastytrade’s full functionality carries over to mobile. Whether you're analyzing trades, placing orders, or managing positions, the mobile experience for options trading is just as powerful as the desktop version.
Finally, tastytrade isn’t just a platform, it’s also a community. With the largest network of engaged options traders, real interaction, and unmatched support, this is where serious options traders belong. Check out my complete tastytrade review to learn more about the platform and its full range of offerings beyond options.
Best full-service brokerage firm for options traders who also invest in stocks - Charles Schwab
| Company |
Minimum Deposit |
Stock Trades |
Options (Per Contract) |
 Charles Schwab
|
$0.00 |
$0.00 |
$0.65 |
Why Charles Schwab is the best full-service brokerage firm for options traders: With the Charles Schwab and TD Ameritrade merger now fully integrated, we’re seeing the best of both platforms come together. Any gaps that existed before have been filled, creating one of the most comprehensive trading experiences available today. Schwab is my pick for the best overall brokerage firm, although when it comes to options, it lands at second-place, only behind tastytrade, which is itself hyper-focused on primarily options trading.
Options platform: That being said, Schwab’s options trading experience is still exceptional. thinkorswim, originally built by the same people who would later go on to found tastytrade, brings some of the most advanced tools in the industry for options. My favorite feature is the Earnings Analyzer. This tool breaks down earnings events in a way that few platforms do. It shows the implied post-earnings move derived from options pricing (an at-the-money straddle), the implied move from previous earnings events for comparison all with a view of the market’s actual reaction, and how implied volatility (IV) dropped post-earnings — illustrating the infamous volatility crush. For traders who like to trade earnings events for their options strategy, having this level of insight is incredibly valuable.
Options tools: Beyond earnings, Schwab delivers extensive screening tools for idea generation, robust options education, intuitive order tickets, and a great options pairing display, which are all essential for traders managing multi-leg options strategies (including the gambit of covered calls to iron condors). The combination of Schwab’s research depth and thinkorswim’s powerful trading tools creates a phenomenal experience for both stock and options traders.
For those who want the best full-service brokerage with the addition of elite options tools, Schwab is the top pick. Head on over to my full Charles Schwab review to read more about the thinkorswim platform and its other features.
Best for professional options traders - Interactive Brokers
| Company |
Minimum Deposit |
Stock Trades |
Options (Per Contract) |
 Interactive Brokers
|
$0.00 |
$0.00 |
$0.65 |
Why Interactive Brokers is the best broker for professional options traders: Interactive Brokers (IBKR) is the ultimate options trading platform for serious traders who need institutional-grade tools. Every part of the platform is built for risk management, efficiency, and advanced strategy execution and monitoring.
Options tools: One of my favorite tools is the Risk Navigator. It allows you to beta weight your entire portfolio, meaning you can see how your positions would react to a market move as if they were all tied to a single benchmark, like the S&P 500. Why does this matter? Because it lets you delta hedge effectively, adjusting your exposure to market movements.
Let’s say you have positions in ten different stocks. Some might move with the market, while others might be more volatile. Beta weighting brings them onto the same scale, making it clear where your exposure lies. Once you have that view, you can delta hedge and adjust your positions to neutralize directional risk.
Options order entry: IBKR also takes a unique approach to order entry for options. Their order ticket guides you through constructing an options strategy via action-based selections, incorporating current margin balances, estimated margin impact, and projected post-trade balances. The collar trade is a great example. A collar is a way to protect gains while simultaneously limiting losses by buying a protective put and selling a covered call on the same underlying asset. On most platforms, you have to manually piece this multi-leg options trade together yourself. IBKR simplifies it by asking straightforward questions: What percentage of upside are you willing to cap? At what level do you want downside protection?
This might seem like a small detail, but when you’re managing multiple options trades, the difference is huge. The platform makes risk management intuitive, eliminating the need to manually build everything from scratch. And, like the other platforms on this list, IBKR displays paired options positions, a must-have for traders running multi-leg options strategies.
To learn more about its professional tools for options traders, low margin rates, and access to global markets, read my complete review of Interactive Brokers.
Options trading platform pricing comparison
Options trading platform tools comparison
FAQs
What are the basics of options trading?
An option is a contract between a buyer and a seller. Every contract contains terms. For an option, those terms include the underlying asset (which could be a stock, index, fund, or currency), the agreed-upon price (known as the strike price), and a time frame in which the contract is valid (the expiration date). The buyer owns the right to execute the contract and wants it to contain as much value as possible, whereas the seller is obligated to fulfill the contract’s terms and prefers it to expire worthless having already received the premium (the price at which they originally sold the contract).
Options contracts are issued as either calls or puts:
- What is a call option?
A call option grants the right to buy the underlying asset at an agreed-upon price any time before expiration. Buyers of call options want the stock price to increase so they can buy shares at a lower, predetermined price (the strike price) than the market’s price. Sellers of call options, on the other hand, are obligated to sell the stock at the strike price if the buyer exercises (executes upon the terms) the option. Call sellers want the option to expire worthless, which happens when the stock price remains at or below the strike price, when the market has a more favorable buy price.
- What is a put option?
A put option grants the right to sell the underlying asset at an agreed-upon price any time before expiration. Buyers of put options are bearish and want the stock price to decrease, allowing them to sell shares at a higher price than the market is pricing. Sellers of put options, however, are obligated to buy the stock if the buyer exercises the contract. Since put sellers make maximum profit when the option expires worthless, they want the stock price to remain at the strike or increase.
Each options contract represents 100 shares of the underlying stock. However, because options contracts have an expiration date, an option’s price is influenced by more than just the stock price. Time until expiration and the market’s anticipated move (known as IV, or implied volatility) also affect an option’s value.
Options can be used to take directional views on market swings, generate steady income through premium collection, or even manage stock positions more efficiently. Whether you’re buying stocks at a discount with cash-secured puts, enhancing portfolio returns with covered calls, or structuring a multi-leg trade to hedge risk, capture volatility or take a directional view, options open up a world of opportunity. Check out our full educational guide on the world of options for a deep-dive into how to trade options.
What are 0DTE options?
0DTE stands for zero days until expiration, meaning these options expire the same day they are traded. These options contracts are highly speculative and incredibly risky since they have no time value remaining. This means the buyer is betting on a large directional move, which may already be amplified by high implied volatility.
From my perspective, trading 0DTE options outside of hedging strategies is simply gambling.
Where can I practice options trading?
What is the best trading platform for options?
tastytrade is the best platform for options trading. Built with a special focus on the needs of options traders, it offers a seamless trading experience with intuitive tools, real-time net greeks, and fully integrated options pairing. Whether you're executing basic strategies or complex multi-leg options trades, tastytrade’s platform makes it easy to use and manage. Plus, with top-tier education, live trade analysis from tastylive, and an engaged trading community, it’s the go-to choice for serious options traders.
Which broker has free options trading?
Instead of calling their revenue per trade “commissions,” many options brokers charge per-contract fees (including some brokers who claim to have "zero commission" options trading). The exceptions are Robinhood, SoFi Invest , Firstrade, and Webull, which charge no commissions or fees for options. Of these, I prefer Firstrade, which has a ton of options-focused tools and research.
What is the best app to trade options?
tastytrade is the best app for options trading. Unlike most brokers that limit functionality on mobile, tastytrade offers a fully featured app with the same tools as its desktop platform. You can build and adjust multi-leg options strategies, see real-time net greeks, and manage trades seamlessly. With intuitive order entry, fast execution, and integrated education, tastytrade’s app is the top choice for options traders primarily using a mobile device.
Our testing
Why you should trust us
Jessica Inskip is Director of Investor Research at StockBrokers.com, bringing 15 years of experience in brokerage and trading strategy. A former FINRA-licensed rep, she held Series 7, 63, 66, and 4 licenses. Jessica focuses on investor education and brokerage industry research, appears regularly on CNBC, Bloomberg, The Schwab Network, Fox Business, and Yahoo! Finance, and hosts the Market MakeHer podcast.
Blain Reinkensmeyer, co-founder of StockBrokers.com, has been investing and trading for over 25 years. After having placed over 2,000 trades in his late teens and early 20s, he became one of the first in digital media to review online brokerages. Today, Blain is widely respected as a leading expert on finance and investing, specifically the U.S. online brokerage industry. Blain has been quoted in The New York Times, The Wall Street Journal, Forbes, and Fast Company, among others. Blain created the original scoring rubrics for StockBrokers.com and oversees all testing and rating methodologies.
How we tested
- We used our own brokerage accounts for testing.
- We collected thousands of data points across the brokers we review.
- We tested each online broker's website, desktop platforms, and mobile app, where applicable.
- We maintained strict editorial independence; brokers cannot pay for inclusion or a higher rating.
Our research team meticulously collected data on every feature of importance to a wide range of customer profiles, including beginners, casual investors, passive investors, and active traders. We carefully track variables like margin rates, trading costs, fees, and platform features and use them to help rate brokers across a range of categories measuring ease of use, range of investments, research, education, and more.
At StockBrokers.com, our reviewers use a variety of computing devices to evaluate platforms and tools. Our reviews and data collection were conducted using the following devices: iPhone SE running iOS 17.5.1, MacBook Pro M1 with 8 GB RAM running the current MacOS, and a Dell Vostro 5402 laptop i5 with 8 GB RAM running Windows 11 Pro.
Each broker was evaluated and scored on over 200 different variables across seven key categories: Range of Investments, Platforms & Tools, Research, Mobile Trading, Education, Ease of Use, and Overall. Learn more about how we test.
Trading platforms tested
We tested 16 online trading platforms for this guide:
Charles Schwab
Interactive Brokers
Fidelity
E*TRADE
Merrill Edge
TradeStation
tastytrade
eToro
