Best of

Best Options Trading Brokers and Platforms 2019

NerdWalletApril 9, 2019

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

Etrade

on Etrade's website

on Etrade's website

Fees

$6.95

per trade

Account Minimum

$500

Promotion

Up to $600

cash credit with a qualifying deposit

Pros

  • Easy-to-use tools.
  • Large investment selection.
  • Excellent customer support.
  • Access to extensive research.
  • Advanced mobile app.
  • Reduced commissions for frequent traders.

Cons

  • Higher commissions for low-volume traders.
  • Minimum balance requirement for active trading platform.
Ally Invest

on Ally Invest's website

on Ally Invest's website

Fees

$4.95

per trade

Account Minimum

$0

Promotion

Up to $3,500

in cash bonus with a qualifying deposit

Pros

  • Low commissions.
  • No account minimum.
  • Strong web-based platform.
  • Robust research and tools.

Cons

  • No no-transaction-fee mutual funds.
  • No branches.
TD Ameritrade

on TD Ameritrade's website

on TD Ameritrade's website

Fees

$6.95

per trade

Account Minimum

$0

Promotion

60

days of commission-free trades with qualifying deposit

Pros

  • Large investment selection.
  • Free research.
  • High-quality trading platforms.
  • No account minimum.
  • Good customer support.

Cons

  • Higher trade commission.
  • Costly broker-assisted trades.
  • High short-term ETF trading fee.
Fees

$0.01

per share

Account Minimum

$0

Promotion

None

No promotion available at this time

Pros

  • Low commissions.
  • Quality trading platform.
  • Advanced tools.
  • Low margin rates.
  • Wide investment selection.

Cons

  • Inactivity fees.
  • Complex pricing.
  • Minimal educational resources.
Fees

$5.00

per trade

Account Minimum

$500

Promotion

None

No promotion available at this time

Pros

  • High-quality trading platforms.
  • Comprehensive research.
  • Low commissions.
  • Advanced tools.
  • Active trader community.

Cons

  • No commission-free ETFs.
  • Minimum balance requirement for active trading platform.
Fees

$4.95

per trade

Account Minimum

$0

Promotion

$100

cash bonus with a qualifying deposit

Pros

  • No inactivity fees.
  • Two platforms with no minimum or fees.
  • Above-average mobile app.
  • Extensive research.
  • Strong customer support.

Cons

  • Higher trade commissions.
Fees

$0

per trade

Account Minimum

$0

Promotion

None

no promotion available at this time

Pros

  • No commissions on stock trades.
  • No account minimum.
  • Streamlined interface.

Cons

  • No retirement accounts.
  • No mutual funds or bonds.
  • Limited customer support.
Fees

$3.00

per trade

Account Minimum

$500

Promotion

None

no promotion available at this time

Pros

  • Deep discount commissions.
  • Low margin rates.
  • Can serve international investors.

Cons

  • Very basic trading platform.
  • Limited data and research.

Summary of Best Options Trading Brokers and Platforms 2019

BrokerCommissionsPromotionAccount MinimumLearn More
Etrade Logo

Etrade

on Etrade's website

$6.95

per trade

Up to $600

cash credit with a qualifying deposit

$500

on Etrade's website

Ally Invest Logo

Ally Invest

on Ally Invest's website

$4.95

per trade

Up to $3,500

in cash bonus with a qualifying deposit

$0

on Ally Invest's website

TD Ameritrade Logo

TD Ameritrade

on TD Ameritrade's website

$6.95

per trade

60

days of commission-free trades with qualifying deposit

$0

on TD Ameritrade's website

Interactive Brokers Logo

Interactive Brokers

$0.01

per share

None

No promotion available at this time

$0

Read Review
TradeStation Logo

TradeStation

$5.00

per trade

None

No promotion available at this time

$500

Read Review
Schwab Brokerage Logo

Schwab Brokerage

$4.95

per trade

$100

cash bonus with a qualifying deposit

$0

Read Review
Robinhood Logo

Robinhood

$0

per trade

None

no promotion available at this time

$0

Read Review
eOption Logo

eOption

$3.00

per trade

None

no promotion available at this time

$500

Read Review
BrokerCommissionsPromotionAccount MinimumLearn More
Etrade Logo

Etrade

on Etrade's website

$6.95

per trade

Up to $600

cash credit with a qualifying deposit

$500

on Etrade's website

Ally Invest Logo

Ally Invest

on Ally Invest's website

$4.95

per trade

Up to $3,500

in cash bonus with a qualifying deposit

$0

on Ally Invest's website

TD Ameritrade Logo

TD Ameritrade

on TD Ameritrade's website

$6.95

per trade

60

days of commission-free trades with qualifying deposit

$0

on TD Ameritrade's website

Interactive Brokers Logo

Interactive Brokers

$0.01

per share

None

No promotion available at this time

$0

Read Review
TradeStation Logo

TradeStation

$5.00

per trade

None

No promotion available at this time

$500

Read Review
Schwab Brokerage Logo

Schwab Brokerage

$4.95

per trade

$100

cash bonus with a qualifying deposit

$0

Read Review
Robinhood Logo

Robinhood

$0

per trade

None

no promotion available at this time

$0

Read Review
eOption Logo

eOption

$3.00

per trade

None

no promotion available at this time

$500

Read Review

Last updated on April 9, 2019

Methodology

NerdWallet's ratings for brokers and robo-advisors are weighted averages of several categories, including investment selection, customer support, account fees, account minimum, trading costs and more. Our survey of brokers and robo-advisors includes the largest U.S. providers by assets under management, plus notable and/or emerging players in the industry. Factors we consider, depending on the category, include advisory fees, branch access, user-facing technology, customer service and mobile features. The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.

To recap our selections...

NerdWallet's Best Options Trading Brokers and Platforms 2019