Best of

Best Options Trading Brokers and Platforms of September 2019

NerdWalletSeptember 6, 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.

Zacks Trade

on Zacks Trade's website

on Zacks Trade's website

Fees

$0.01

per share

Account Minimum

$2,500

Promotion

$1

minimum trade cost

Pros

  • Ample research offerings.
  • Robust trading platform.
  • Access to international exchanges.

Cons

  • Trails Interactive Brokers on commissions.
Read full review
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.
Read full review
E-Trade

on E-Trade's website

on E-Trade'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.
Read full review
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

Pros

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

Cons

  • Inactivity fees.
  • Complex pricing.
  • Minimal educational resources.
Read full review
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.
Read full review

Want to compare more options? Here are our other top picks:

Summary of Best Options Trading Brokers and Platforms of September 2019

BrokerCommissionsPromotionAccount MinimumLearn More
Zacks Trade Logo

Zacks Trade

on Zacks Trade's website

$0.01

per share

$1

minimum trade cost

$2,500

on Zacks Trade'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

E-Trade Logo

E-Trade

on E-Trade's website

$6.95

per trade

Up to $600

cash credit with a qualifying deposit

$500

on E-Trade'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

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
Ally Invest Logo

Ally Invest

on Ally Invest's website

$4.95

per trade

Starting at $50

in cash bonus with a qualifying deposit

$0

on Ally Invest's website

BrokerCommissionsPromotionAccount MinimumLearn More
Zacks Trade Logo

Zacks Trade

on Zacks Trade's website

$0.01

per share

$1

minimum trade cost

$2,500

on Zacks Trade'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

E-Trade Logo

E-Trade

on E-Trade's website

$6.95

per trade

Up to $600

cash credit with a qualifying deposit

$500

on E-Trade'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

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
Ally Invest Logo

Ally Invest

on Ally Invest's website

$4.95

per trade

Starting at $50

in cash bonus with a qualifying deposit

$0

on Ally Invest's website

Last updated on September 6, 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 of September 2019