Best of

Best Options Trading Brokers and Platforms 2019

NerdWalletApril 9, 2019

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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

Ally Invest’s robust trading platform and lineup of free research, charting, data and analytical tools make it a good choice for active traders. But it’s also appropriate for beginning investors who will appreciate that there is no account minimum and no annual fees.
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

E-Trade has long been one of the most popular online brokers, largely because of its easy-to-use tools. They offer a tiered commission structure that favors frequent traders but can add up to high costs for casual investors.
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

TD Ameritrade makes up for higher-than-average trading commissions with better-than-average service, research and trading tools that will make everyone from beginner investors to active traders happy.
TradeStation

on TradeStation's website

on TradeStation's website

Fees

$5.00

per trade

Account Minimum

$500

Promotion

None

No promotion available at this time

TradeStation is the gold standard among active stock, options and futures investors who rely on the broker’s high-octane trading platform, reams of research and sophisticated analytical tools. The firm offers three commission plans — flat-fee, per share/per contract and unbundled pricing plan (the latter two of which will be attractive to active traders). The lack of commission-free ETFs and mutual funds can be a turnoff to some investors.
Schwab Brokerage

on Charles Schwab's website

on Charles Schwab's website

Fees

$4.95

per trade

Account Minimum

$0

Promotion

$100

cash bonus with a qualifying deposit

Charles Schwab has earned its strong reputation: The broker offers high-quality customer service, two robust trading platforms and a wide selection of commission-free ETFs and no-transaction-fee mutual funds.
Interactive Brokers

on Interactive Brokers's website

on Interactive Brokers's website

Fees

$0.01

per share

Account Minimum

$0

Promotion

None

No promotion available at this time

Interactive Brokers is a strong option for advanced, frequent traders: The broker offers international trade capabilities, low commissions and a quality trading platform. New traders might be turned off by inactivity fees, high balance requirements and a lack of educational resources.
Robinhood

on Robinhood's website

on Robinhood's website

Fees

$0

per trade

Account Minimum

$0

Promotion

None

no promotion available at this time

Robinhood is truly free: There are no hidden costs here. You’ll give up a few things in exchange for free trades — trading tools, research, education, investment options beyond stocks and ETFs — but if limiting costs is your No. 1 concern, Robinhood is a solid choice.
eOption

on eOption's website

on eOption's website

Fees

$3.00

per trade

Account Minimum

$500

Promotion

None

no promotion available at this time

EOption provides an efficient, no-frills platform for active investors who prioritize low costs over a fancy platform. The savings can be significant for advanced stock and options traders who have other sources for the research and data they need.

Summary of Best Options Trading Brokers and Platforms 2019

BrokerCommissionsPromotionAccount MinimumLearn More
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

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

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

TradeStation Logo

TradeStation

on TradeStation's website

$5.00

per trade

None

No promotion available at this time

$500

on TradeStation's website

Schwab Brokerage Logo

Schwab Brokerage

on Charles Schwab's website

$4.95

per trade

$100

cash bonus with a qualifying deposit

$0

on Charles Schwab's website

Interactive Brokers Logo

Interactive Brokers

on Interactive Brokers's website

$0.01

per share

None

No promotion available at this time

$0

on Interactive Brokers's website

Robinhood Logo

Robinhood

on Robinhood's website

$0

per trade

None

no promotion available at this time

$0

on Robinhood's website

eOption Logo

eOption

on eOption's website

$3.00

per trade

None

no promotion available at this time

$500

on eOption's website

BrokerCommissionsPromotionAccount MinimumLearn More
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

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

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

TradeStation Logo

TradeStation

on TradeStation's website

$5.00

per trade

None

No promotion available at this time

$500

on TradeStation's website

Schwab Brokerage Logo

Schwab Brokerage

on Charles Schwab's website

$4.95

per trade

$100

cash bonus with a qualifying deposit

$0

on Charles Schwab's website

Interactive Brokers Logo

Interactive Brokers

on Interactive Brokers's website

$0.01

per share

None

No promotion available at this time

$0

on Interactive Brokers's website

Robinhood Logo

Robinhood

on Robinhood's website

$0

per trade

None

no promotion available at this time

$0

on Robinhood's website

eOption Logo

eOption

on eOption's website

$3.00

per trade

None

no promotion available at this time

$500

on eOption's website

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