Best options brokers

What each of the top ten is good at

One line each, expanded into a full profile further down.

1. AvaTrade - Dedicated AvaOptions platform. 40+ FX pairs. Real strategy and risk tools.
2. Plus500 - Straightforward options CFDs. Calls and puts on popular markets. Simple platform.
3. easyMarkets - Vanilla options. Flexible strikes and expiries. Fixed-spread trading elsewhere on the platform.
4. IG - Extensive options CFDs. Daily to quarterly expiries. Genuine options chain.
5. Saxo Bank - Extensive exchange-listed options. Professional tools. Broad international access.
6. Libertex - Options within a broader multi-asset account.
7. Swissquote - Vast derivatives range. US and European listed options. Strong regulation.
8. Charles Schwab - Extensive US listed options. $0 base commission. thinkorswim.
9. Webull - $0 contract fees on stock and ETF options. Strong strategy tools. Good mobile.
10. Questrade - $0 contract fees on US equity options. Canadian and US access. Competitive pricing.

Three different products in one list

This is the only page in this section where the brokers are not really selling the same thing. An exchange-listed option is a standardised contract traded on a regulated exchange, which you can exercise. An OTC vanilla option is a contract written by the broker itself, with strikes and expiries you choose. An options CFD is a contract for difference whose price follows an option, is cash settled, and cannot be exercised at all.

They behave differently at expiry, they are priced differently, they carry different counterparty risk, and they suit different people. A trader who wants to own a listed contract and exercise it into shares is not served by a CFD on that contract's price, however similar the screen looks.

What each broker actually sells

Researched for this page rather than held in our broker database, which records only whether a broker lists options at all.

What each broker actually sells

Broker	Options type	Underlying markets	Multi-leg strategies	Dedicated options platform
AvaTrade9.2	OTC vanilla	40+ FX pairs, metals, indices	Yes	Yes, AvaOptions
Plus5008.9	Options CFDs	Shares, indices and others	Limited	No, inside the main platform
easyMarkets8.6	OTC vanilla	FX, metals and others	Yes	No, inside the main platform
IG8.0	Options CFDs	Indices, FX, commodities, crypto, selected shares	Yes	No, inside the main platform
Saxo Bank8.0	Exchange-listed	Global stocks, indices and more	Yes	Yes, SaxoTraderPRO
Libertex7.8	Depends on entity	Selected markets	Depends on entity	No
Swissquote7.7	Exchange-listed	US and European stocks and indices	Yes	Yes
Charles Schwab7.6	Exchange-listed	US stocks, ETFs and indices	Yes	Yes, thinkorswim
Webull7.6	Exchange-listed	US stocks, ETFs and indices	Yes	Yes
Questrade7.4	Exchange-listed	US and Canadian stocks and indices	Yes	Yes

Five of the ten offer conventional exchange-listed options: Saxo Bank, Swissquote, Charles Schwab, Webull and Questrade. Two offer OTC vanilla options, AvaTrade and easyMarkets. Two offer options CFDs, Plus500 and IG. Libertex depends on the entity you are onboarded to.

The split is not accidental. The listed-options brokers are securities firms with exchange memberships; the OTC and CFD brokers are leveraged-derivatives firms. Which group you want is a bigger decision than which broker inside it.

How the three products differ

The counterparty row is the one people skip. With a listed option a clearing house stands behind the contract; with an OTC option or an options CFD, your counterparty is the broker itself, and its regulator and balance sheet are part of what you are buying.

What this ranking is, and what it is not

Every other list in this section ranks on something we measure - education, costs, market range. This one cannot, and it would be dishonest to imply otherwise.

Our records show whether a broker lists options among its markets. They do not record which of the three products it sells, what a contract costs, or whether the platform has an options chain worth the name. So this list is ordered by our overall broker rating, restricted to brokers offering options at all, and the rating column beside each name is that figure.

AvaTrade comes first here and first in the draft this page was built from - but for different reasons, and that is worth being precise about. The draft ranks it first because AvaOptions is a dedicated options platform. We rank it first because it is the best-rated broker on our table that offers options at all. Same answer, different question, and we did not assess AvaOptions to reach it.

If you are choosing an options platform specifically, read the product table above and the pricing table below before you read the order.

What options cost

Pricing follows the product. Exchange-listed options carry a per-contract commission, often a few tens of cents, plus exchange and regulatory fees the broker passes through. OTC options and options CFDs have no separate commission at all - the broker's charge lives inside the premium and the spread, which makes it invisible rather than absent.

That difference makes a single comparison table impossible. A $0.65 per-contract fee and a spread built into a premium are not two versions of the same number.

How each broker charges

How each broker charges

Broker	Pricing model	What you pay	Exercise and assignment
AvaTrade9.2	Premium and spread	Built into the option price	Per contract terms
Plus5008.9	Spread	The options CFD spread	Cannot be exercised
easyMarkets8.6	Premium and spread	Built into the option price	Per contract terms
IG8.0	Spread	No separate commission on most options CFDs	No closing spread at expiry
Saxo Bank8.0	Per contract	Market and volume dependent	Conditions apply
Libertex7.8	Depends on product	Market and account dependent	Depends on product
Swissquote7.7	Per contract	From $1.50 US stock, $1.99 US index	No dedicated fee
Charles Schwab7.6	Per contract	$0 commission plus $0.65 per contract	$0
Webull7.6	Per contract	$0 stock and ETF options; $0.50 index options	Conditions apply
Questrade7.4	Per contract	$0 US equity; CA$0.99 Canadian; US$0.99 US index	$24.95 to exercise

Researched for this page. Exchange and regulatory fees apply on top of broker commissions on listed options, and published pricing varies by jurisdiction and account.

Among the listed-options brokers, Webull and Questrade charge nothing per contract on US stock and ETF options, Schwab charges $0.65, and Swissquote starts at $1.50. Questrade's US index options move to a flat $0.99 from 28 September 2026, having used volume-based pricing before that.

For the OTC and CFD brokers the honest answer is that the cost is in the price of the option. It can still be perfectly reasonable - IG charges no closing spread on options held to expiry, which is unusual and genuinely valuable - but you cannot compare it to a per-contract fee without pricing the same trade at both.

The tools an options platform needs

Options need more from a platform than a buy and a sell button. The minimum is an options chain showing strikes, expiries, calls, puts, bid and ask, implied volatility and open interest. Beyond that: the Greeks, a strategy builder for multi-leg positions, profit and loss diagrams, and risk analysis across a whole portfolio rather than one position.

Among this ten, thinkorswim at Charles Schwab is the most complete conventional options environment and one of the best-known professional retail platforms anywhere. Saxo's SaxoTraderPRO and Swissquote's derivatives access sit in the same category. Webull's platform is more capable than its zero-fee positioning suggests, with an options screener, probability analysis, volatility tools and P/L diagrams.

AvaOptions is the outlier: not a general platform with options bolted on, but an environment built around them, with portfolio simulation and risk tools designed for multi-leg positions. IG's options chain is the strongest of the two CFD offerings, showing implied volatility and letting you move between expiries directly. Plus500's is deliberately the simplest here.

Platforms

Platforms

Broker	MT4	MT5	cTrader	TradingView	Own platform	All platforms
AvaTrade9.2	Yes	Yes	No	No	Yes	MetaTrader 4, MetaTrader 5, AvaTrade WebTrader, AvaTrade App, AvaOptions
Plus5008.9	No	No	No	No	Yes	Plus500 WebTrader, Plus500 mobile and desktop platforms
easyMarkets8.6	Yes	Yes	No	Yes	Yes	easyMarkets Web/App, TradingView, MetaTrader 4, MetaTrader 5
IG8.0	Yes	No	No	Yes	Yes	IG Trading Platform, MetaTrader 4, ProRealTime, TradingView
Saxo Bank8.0	No	No	No	Yes	Yes	SaxoInvestor, SaxoTrader, SaxoTraderPRO, TradingView
Libertex7.8	Yes	Yes	No	No	Yes	Libertex, MetaTrader 4, MetaTrader 5
Swissquote7.7	Yes	Yes	No	Yes	Yes	CFXD, MetaTrader 4, MetaTrader 5, TradingView
Charles Schwab7.6	No	No	No	No	Yes	thinkorswim Desktop, thinkorswim Web, thinkorswim Mobile, Schwab.com, Schwab Mobile
Webull7.6	No	No	No	No	Yes	Webull Desktop, Webull WebTrade, Webull Mobile App, tablet
Questrade7.4	No	No	No	No	Yes	Questrade Global

This table shows the split between the two halves of the page more clearly than anything else on it. The leveraged-derivatives brokers run MetaTrader and TradingView alongside their own software; the securities brokers run their own platforms exclusively, because an options chain into a US exchange is not something MetaTrader was built to do.

How much can you lose?

It depends entirely on which side of the contract you are on, and this is the single most important thing to understand before trading options.

Buying an option caps your loss at the premium you paid. If it expires worthless you lose that and nothing more, which is why options are used to define risk in advance.

Selling options is a different business. An uncovered short call has no theoretical maximum loss, because there is no maximum price the underlying can reach. Selling puts, selling spreads and multi-leg positions each carry their own assignment, margin and liquidity risks, and a strategy that looks defined on a diagram can behave differently when one leg cannot be filled.

Time works against the buyer and for the seller: an option loses value as expiry approaches, all else equal. That is the trade the two sides are making.

The Greeks, briefly

Implied volatility is the input worth understanding first. It is the market's expectation of future movement priced into the option, and it means you can be right about direction and still lose money because volatility fell after you bought.

Can I trust these brokers?

Three of this ten score a perfect 100 for regulation on our table - Saxo Bank, Swissquote and Charles Schwab - alongside IG, which is the only other broker we rate that does. This is a well-regulated group by any standard.

One line in the table below needs explaining before it misleads you. Charles Schwab, Webull and Questrade all record no negative balance protection, and that is accurate but not a criticism: they are securities brokers rather than leveraged CFD providers, and negative balance protection is a CFD regime concept. What stands behind them instead is investor compensation - SIPC cover up to $500,000 for the two US firms, and CIPF cover for Questrade - which protects against the broker failing rather than against a position going past zero.

The CFD and OTC brokers work the other way round: negative balance protection where their regulator requires it, and compensation schemes that vary by entity. Different products, different protections, and the table shows both columns for that reason.

Trust metrics

Trust metrics

Broker	Regulators	Founded	Client money segregated	Negative balance protection	Compensation scheme
AvaTrade9.2	Central Bank of IrelandASICFSA (Japan)+7	2006	Yes	Yes	Irish Investor Compensation Scheme for eligible EU clients; no compensation scheme under several international entities
Plus5008.9	FCAASICCySEC+12	2008	Yes	Yes	FSCS up to £85,000 for eligible UK clients; ICF up to €20,000 for eligible Cyprus clients
easyMarkets8.6	CySECASICFSA (Seychelles)+2	2001	Yes	Yes	ICF up to €20,000 for eligible CySEC clients
IG8.0	FCAASICBaFin+7	1974	Yes	Yes	FSCS up to £85,000 for eligible UK clients; statutory schemes vary by regulated entity
Saxo Bank8.0	FSA (Denmark)FCAASIC+6	1992	Yes	Yes	Danish DGS: cash deposits up to €100,000 and unreturned securities up to €20,000
Libertex7.8	CySECBaFin	1997	Yes	Yes	Investor Compensation Fund up to €20,000 for eligible clients
Swissquote7.7	FINMAFCACySEC+4	1996	Yes	Yes	Swiss esisuisse deposit protection up to CHF 100,000; eligible EU CFD clients protected up to €20,000
Charles Schwab7.6	SECFINRACFTC/NFA	1971	Yes	No	SIPC up to $500,000, including $250,000 cash sublimit; excess SIPC insurance also maintained
Webull7.6	SECFINRACFTC/NFA	2017	Yes	No	SIPC up to $500,000, including $250,000 cash sublimit; additional Excess SIPC coverage
Questrade7.4	CIRO	1999	Yes	No	Canadian Investor Protection Fund (CIPF), generally up to CAD $1 million per eligible account category

From our broker records. Negative balance protection is a leveraged-trading protection and does not apply to securities brokers, which carry investor compensation cover instead - read the two columns together.

Non-trading fees

Non-trading fees

Broker	Inactivity fee	Currency conversion	Min. withdrawal	Withdrawal time
AvaTrade9.2	$50 after 3 consecutive months inactivity; $100 administration fee after 12 months where permitted	Currency conversion spread/markup applies where account and instrument currencies differ	$100	AvaTrade processing within 24 business hours; arrival depends on payment method
Plus5008.9	Up to $10/month after 3 months without logging in	Up to 0.7%	$50 PayPal/Skrill; $100 bank transfer/cards	1-3 business days processing plus payment-provider processing time
easyMarkets8.6	$25/month after 12 months inactivity	No separate fixed conversion fee; conversion applies where currencies differ	$10	Typically within 24 hours for cards/e-wallets; bank transfer typically 3-10 business days
IG8.0	Not on record	0.5%	$0	Typically 1-3 business days
Saxo Bank8.0	Not on record	0.25%	No minimum	Typically 1-3 business days
Libertex7.8	€10/month after 180 days inactivity	Conversion charge applies where account and instrument currencies differ	€0 bank transfer; €10 PayPal/Skrill/Neteller/cards	E-wallets generally fastest; cards and bank transfers can take several business days
Swissquote7.7	10 account-currency units/month on applicable international forex accounts	From 0.95% on Swiss banking accounts; entity/account dependent	No general minimum	Typically 1-3 business days
Charles Schwab7.6	Not on record	0.20%-1.00%, depending on transaction size	$1	ACH typically 1-3 business days; wire generally same or next business day
Webull7.6	Not on record	Applicable where currency conversion is required	$1	ACH typically 1-3 business days; wire typically same or next business day after processing
Questrade7.4	Not on record	1.5% on standard CAD/USD securities-account conversions	$1	Typically 1-5 business days depending on method

From our broker records. Options commissions are not shown here - see the pricing table above, which is researched separately.

The top 10, one by one

#1

AvaTrade

9.2/10

Recommended for traders who want to build FX options strategies on a platform designed for them.

Overall rating

9.2 / 10

Markets rating

9.1 / 10

Minimum deposit

$100

Minimum trade

0.01 lots

Spread from

0.9 pips

Commission

$0

All-in cost, EUR/USD

0.9 pips

Maximum leverage

1:30

Platforms

MetaTrader 4, MetaTrader 5, AvaTrade WebTrader, AvaTrade App, AvaOptions

Demo account

Yes, unlimited

Copy trading

AvaSocial; DupliTrade

Support

Monday-Friday, 05:00-21:00 GMT for English support

Founded

2006

Options type

OTC vanilla

Options platform

AvaOptions

Expiries

Overnight to one year

Regulation

Central Bank of IrelandASICFSA (Japan)FSRA (ADGM)+6

AvaOptions is the reason to look at AvaTrade for options. It is not options functionality added to a trading platform - it is a separate environment built around them, on desktop, web and mobile, with a demo.

It covers more than 40 currency pairs plus metals and major indices, with European-style vanilla calls and puts, strikes you choose and expiries from overnight to a year. Straddles, strangles, spreads, risk reversals and multi-leg combinations are all constructed within it, alongside portfolio simulation and risk analysis.

The pricing is in the premium and the spread rather than a per-contract fee, which is the normal structure for OTC options and means the cost is harder to see than at a listed-options broker.

AvaTrade ranks first on this page because it is the best-rated broker we cover that offers options at all, not because we have assessed AvaOptions against thinkorswim. On the specific question of FX options, though, it is the strongest offering here.

Open an account with AvaTradeRead our full AvaTrade review

#2

Plus500

8.9/10

Recommended for existing Plus500 users who want simple options exposure without a new platform.

Overall rating

8.9 / 10

Markets rating

9.3 / 10

Minimum deposit

$100

Minimum trade

Instrument-dependent; generally from micro-position sizes

Spread from

0.6 pips

Commission

$0

All-in cost, EUR/USD

Approx. 0.6 pips

Maximum leverage

1:30

Platforms

Plus500 WebTrader, Plus500 mobile and desktop platforms

Demo account

Yes, unlimited

Copy trading

No

Support

24/7

Founded

2008

Options type

Options CFDs

Settlement

Cash only, no exercise

Regulation

FCAASICCySECFMA (New Zealand)+11

Plus500 offers options CFDs rather than options: contracts whose price follows a call or a put, cash settled, and explicitly not exercisable into the underlying.

The appeal is that it is the simplest options-linked product on this page, inside the same platform used for everything else Plus500 sells. If you already trade there, there is nothing new to learn.

The cost is in the spread, with no separate commission, and the strategy tooling is the thinnest here - multi-leg construction is limited compared with a proper options environment.

It is one of the most heavily regulated firms in this ten, with the FCA, ASIC, CySEC and MAS on record and FSCS cover up to £85,000 for eligible UK clients.

Open an account with Plus500Read our full Plus500 review

#3

easyMarkets

8.6/10

Recommended for traders who want vanilla options with the cost fixed before they trade.

Overall rating

8.6 / 10

Markets rating

8.5 / 10

Minimum deposit

$25

Minimum trade

0.05 lots / 5,000 units on EUR/USD

Spread from

0.6 pips

Commission

$0

All-in cost, EUR/USD

0.6 pips

Maximum leverage

1:30

Platforms

easyMarkets Web/App, TradingView, MetaTrader 4, MetaTrader 5

Demo account

Yes

Copy trading

Yes, through third-party/platform integrations

Support

24/5

Founded

2001

Options type

OTC vanilla

Strikes and expiries

Trader-selected

Regulation

CySECASICFSA (Seychelles)FSC (BVI)+1

easyMarkets offers genuine vanilla options - calls and puts with chosen strikes and expiries - rather than a CFD written on an option price, which puts it in the same product category as AvaTrade rather than Plus500.

It suits a trader who wants the flexibility of an OTC contract without a professional derivatives platform to learn. The environment is the same one used for its spot trading, which is deliberately straightforward.

It is also the only broker on this page quoting fixed spreads on its other products, and its risk tools - guaranteed stop-loss, dealCancellation, Freeze Rate - point the same way: knowing the cost in advance.

Founded in 2001 and regulated by CySEC, ASIC and the FSCA among others. Its instrument catalogue is the smallest here at around 200, so this is a focused offering rather than a broad one.

Open an account with easyMarketsRead our full easyMarkets review

#4

IG

8.0/10

Recommended for traders who want short-dated options exposure with a serious chain to trade from.

Overall rating

8.0 / 10

Markets rating

9.7 / 10

Minimum deposit

$0

Minimum trade

0.01 lots equivalent / instrument-dependent

Spread from

0.6 pips

Commission

$0 on standard forex CFDs

All-in cost, EUR/USD

0.85 pips

Maximum leverage

1:30

Platforms

IG Trading Platform, MetaTrader 4, ProRealTime, TradingView

Demo account

Yes

Copy trading

No

Support

24/5

Founded

1974

Options type

Options CFDs

Expiries

Daily, weekly, monthly, quarterly

Regulation

FCAASICBaFinFINMA+6

IG's options are CFDs, but its chain is the most complete of the two CFD offerings here: calls, puts, strikes, maturities, implied volatility and prices, with expiries switchable directly from it.

The daily contracts are the genuinely interesting part. They give targeted exposure to a single session without the overnight financing an equivalent cash CFD would accrue, which is a real structural advantage for short-term positions.

Options held to expiry carry no closing spread, which is unusual and worth money to anyone who intends to hold rather than trade out.

IG scores a perfect 100 for regulation on our table - one of only four brokers that does - with ten licences including the FCA, ASIC and BaFin and a history back to 1974. Its markets span indices, FX, commodities, crypto and selected shares.

Open an account with IGRead our full IG review

#5

Saxo Bank

8.0/10

Recommended for experienced traders who want listed options across international markets.

Overall rating

8.0 / 10

Markets rating

9.8 / 10

Minimum deposit

$0

Minimum trade

1,000 currency units / 0.01 lot equivalent

Spread from

0.7 pips

Commission

$0 on spot forex

All-in cost, EUR/USD

Approx. 1.0 pip

Maximum leverage

1:30

Platforms

SaxoInvestor, SaxoTrader, SaxoTraderPRO, TradingView

Demo account

Yes

Copy trading

No

Support

24/5

Founded

1992

Options type

Exchange-listed

Regulation

FSA (Denmark)FCAASICFINMA+5

Saxo Bank is where this page shifts from leveraged derivatives to conventional securities. Its options are exchange-listed contracts, cleared and exercisable, across international markets rather than only the US.

It carries more than 71,000 instruments in total - the largest catalogue of any broker we rate - with options sitting alongside stocks, ETFs, bonds, futures and forex in one account, which is what makes it useful for strategies that span asset classes.

SaxoTraderPRO is substantially more capable than the simplified interfaces most retail brokers offer, and TradingView is available alongside it.

It scores 100 for regulation, holding Danish FSA, FCA, ASIC, FINMA, MAS and other licences, with Danish deposit guarantee cover. Its cost score of 63 is among the lowest we award - this is a professional platform priced like one.

Open an account with Saxo BankRead our full Saxo Bank review

#6

Libertex

7.8/10

Recommended for existing Libertex clients - check what your entity actually offers first.

Overall rating

7.8 / 10

Markets rating

8.8 / 10

Minimum deposit

$100

Minimum trade

€20 on Libertex; 0.01 lots on MetaTrader

Spread from

0.0 pips

Commission

Instrument/platform-dependent; from 0%

All-in cost, EUR/USD

Approx. 0.7 pips

Maximum leverage

1:30

Platforms

Libertex, MetaTrader 4, MetaTrader 5

Demo account

Yes

Copy trading

No

Support

24/5

Founded

1997

Options type

Depends on entity and product

Regulation

CySECBaFin

Libertex is the least clear-cut entry on this page, and that is the honest description rather than a criticism. What options products are available depends on which entity you are onboarded to and which jurisdiction you are in.

Where they exist, they sit inside Libertex's general multi-asset environment alongside forex, stocks, indices, commodities and crypto, rather than in a dedicated options platform.

Founded in 1997 and regulated by CySEC with a BaFin cross-border registration, it carries Investor Compensation Fund cover up to €20,000 for eligible clients and lists around 1,000 instruments.

If options are the reason you are opening an account, confirm with your local entity what you can actually trade before depositing - which is advice worth taking at any broker, and specifically necessary here.

Open an account with LibertexRead our full Libertex review

#7

Swissquote

7.7/10

Recommended for traders who want deep listed-derivatives access from a bank.

Overall rating

7.7 / 10

Markets rating

9.6 / 10

Minimum deposit

$1,000

Minimum trade

0.01 lots / 1,000 currency units

Spread from

0.0 pips

Commission

€2.50 per side / €5 round turn, Elite

All-in cost, EUR/USD

Approx. 0.5 pips, Elite minimum

Maximum leverage

1:30

Platforms

CFXD, MetaTrader 4, MetaTrader 5, TradingView

Demo account

Yes

Copy trading

No

Support

24/5 for forex trading support

Founded

1996

Options type

Exchange-listed

US stock options

From $1.50 per contract

US index options

From $1.99 per contract

Regulation

FINMAFCACySECDFSA (DIFC)+3

Swissquote is a Swiss bank rather than a broker, and its derivatives access reflects that: more than three million instruments on our record, including listed stock and index options in both the US and Europe, with EUREX access for European contracts.

US stock options start at $1.50 per contract and index options at $1.99, subject to minimums and exchange fees - more expensive than the US discount brokers here, and buying a different service.

It scores 100 for regulation, holding FINMA, FCA, CySEC, DFSA, MAS and other licences, with Swiss esisuisse deposit protection up to CHF 100,000.

The barrier is the entry: $1,000 minimum deposit, the highest on this page by a wide margin, and a cost score of 63. This is a bank's derivatives desk, priced accordingly.

Open an account with SwissquoteRead our full Swissquote review

#8

Charles Schwab

7.6/10

Recommended for US options traders who want the most capable conventional platform here.

Overall rating

7.6 / 10

Markets rating

9.6 / 10

Minimum deposit

$0

Minimum trade

1 share or fractional Stock Slice from $5; forex minimum varies by instrument

Spread from

0.0 pips

Commission

$0 forex commission

All-in cost, EUR/USD

Approx. 1.0 pip

Maximum leverage

1:50

Platforms

thinkorswim Desktop, thinkorswim Web, thinkorswim Mobile, Schwab.com, Schwab Mobile

Demo account

Yes, paperMoney

Copy trading

No

Support

24/7 US support; international support 24/5

Founded

1971

Options type

Exchange-listed

Contract fee

$0.65

Exercise and assignment

$0

Regulation

SECFINRACFTC/NFA

thinkorswim is the reason Schwab is on this page. It is among the best-known professional retail trading platforms anywhere, with options chains, strategy analysis, risk tools and charting that most brokers here do not attempt.

Pricing is $0 base commission plus $0.65 per contract, with no charge for online exercise or assignment - which matters more than it sounds, since a broker charging for assignment penalises you for a decision somebody else made.

Founded in 1971, regulated by the SEC and FINRA, scoring a perfect 100 for regulation with SIPC cover up to $500,000 including a $250,000 cash sublimit. There is no minimum deposit.

Note that our record shows no negative balance protection, which is expected: Schwab is a securities broker, not a CFD provider, and SIPC cover is the relevant protection rather than a leveraged-trading one.

Open an account with Charles SchwabRead our full Charles Schwab review

#9

Webull

7.6/10

Recommended for US options traders who want zero contract fees without giving up tools.

Overall rating

7.6 / 10

Markets rating

9.1 / 10

Minimum deposit

$0

Minimum trade

$5 for fractional stocks/ETFs

Spread from

1.0 pips

Commission

N/A; $0 commission on US-listed stocks and ETFs

All-in cost, EUR/USD

N/A

Maximum leverage

1:4

Platforms

Webull Desktop, Webull WebTrade, Webull Mobile App, tablet

Demo account

Yes, Paper Trading

Copy trading

No

Support

24/7 online support

Founded

2017

Options type

Exchange-listed

Stock and ETF options

$0 contract fee

Index options

$0.50 per contract

Regulation

SECFINRACFTC/NFA

Webull charges no commission and no contract fee on US stock and ETF options, which is the cheapest headline pricing on this page. Exchange and regulatory fees still apply, and index options carry a $0.50 contract fee.

The platform is more capable than the pricing implies. An options screener, probability analysis, an options calculator, volatility analysis, chains and profit-and-loss diagrams, with multi-leg strategies supported across desktop, web and mobile.

Founded in 2017 - not 2016, as it is often listed - and regulated by the SEC and FINRA, with SIPC cover up to $500,000. There is no minimum deposit.

As with the other securities brokers here, our record shows no negative balance protection because the concept belongs to leveraged CFD trading rather than to a US brokerage account.

Open an account with WebullRead our full Webull review

#10

Questrade

7.4/10

Recommended for Canadian traders who want US and Canadian options in one account.

Overall rating

7.4 / 10

Markets rating

9.0 / 10

Minimum deposit

$0

Minimum trade

1,000 currency units / 0.01 standard lot

Spread from

0.8 pips

Commission

$0 on spot FX

All-in cost, EUR/USD

1.9 pips target

Maximum leverage

1:50

Platforms

Questrade Global

Demo account

Yes, 30-day FX & CFD practice account

Copy trading

No

Support

Extended weekday hours; online Help Centre available 24/7

Founded

1999

Options type

Exchange-listed

US equity options

$0 contract fee

Canadian options

CA$0.99 per contract

Exercise fee

$24.95

Regulation

CIRO

Questrade repriced its options substantially in 2026 and is now among the cheapest on this page: no contract fee on US equity options, CA$0.99 on Canadian ones, and a flat US$0.99 on US index options from 28 September 2026, replacing a volume-based schedule.

Its distinguishing feature is coverage rather than price: US and Canadian listed options in the same regulated account, alongside stocks, ETFs, bonds, GICs and mutual funds, which no other broker on this page offers a Canadian resident.

The exercise fee is the one to watch at $24.95 - the highest here, and a reason to close positions rather than exercise them unless exercising is the point.

Regulated by CIRO with Canadian Investor Protection Fund cover, founded in 1999, and no minimum deposit.

Open an account with QuestradeRead our full Questrade review

How we chose these brokers

This list covers every broker we rate that offers options, ordered by our overall rating. That rating assesses the broker rather than its options desk specifically, which is a limitation this page states rather than hides. What we weigh, and what you should:

• Which of the three products the broker actually sells - listed, OTC or CFD
• Whether contracts can be exercised, and what happens at expiry
• Per-contract commissions, and the exchange fees charged on top
• Where the cost sits when there is no commission, which is the premium and spread
• The options chain: strikes, expiries, implied volatility, open interest
• Multi-leg order entry and strategy building
• The Greeks, risk analysis and profit-and-loss visualisation
• Exercise and assignment terms, including their fees
• The regulator, and whether the protection is negative balance cover or investor compensation
• Whether a demo or paper-trading environment exists, which matters more here than anywhere else

The cheapest per-contract fee is not the answer if the product is not the one you want. Work out which of the three structures suits you, then compare inside that group.