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9 Best Options Trading Brokers and Platforms of November 2019

NerdWalletNovember 5, 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.

TD Ameritrade

on TD Ameritrade's website

on TD Ameritrade's website

Fees

$0

per trade

Account Minimum

$0

Promotion

Up to $600

cash credit with qualifying deposit

TD Ameritrade meets the needs of both active traders and beginner investors with quality trading platforms, $0 commissions on online stock, options and ETF trades and a large selection of mutual funds.

Pros

  • Commission-free stock, ETF and options trades.
  • Free research.
  • High-quality trading platforms.
  • No account minimum.
  • Good customer support.
  • Large investment selection.

Cons

  • 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

$0

per trade

Account Minimum

$0

Promotion

$100 to $2,500

cash credit with a qualifying deposit

E-Trade has long been one of the most popular online brokers. The company's $0 commissions and strong trading platforms appeal to active traders, while beginner investors benefit from a large library of educational resources.

Pros

  • Easy-to-use tools.
  • Large investment selection.
  • Excellent customer support.
  • Access to extensive research.
  • Advanced mobile app.
  • Commission-free stock, options and ETF trades.

Cons

  • Website can be difficult to navigate.
Read full review
TradeStation

on TradeStation's website

on TradeStation's website

Fees

$0

per trade

Account Minimum

$500

Promotion

Up to $2,500

cash credit with a qualifying deposit

TradeStation is a strong choice for active stock, options and futures investors who rely on the broker’s high-octane trading platform, reams of research and sophisticated analytical tools. Active traders will like its per share/per contract and unbundled pricing plans. There's also a flat-fee plan and the TSgo plan that offers pared-down features but also $0 trade commissions. A lack of commission-free ETFs and mutual funds can be a turnoff to some investors.

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
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

Zacks is a great choice for experienced and active investors who would appreciate a little extra support from a representative while still keeping their trading costs firmly in line.

Pros

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

Cons

  • Trails Interactive Brokers on commissions.
Read full review
Interactive Brokers

on Interactive Brokers's website

on Interactive Brokers's website

Fees

$0

per trade

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.

Pros

  • Free trades.
  • Wide investment selection.
  • Advanced tools on Pro tier.

Cons

  • Complex pricing on some investments.
  • Inactivity fees on Pro tier.
Read full review

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

Summary of Best Options Trading Brokers and Platforms of November 2019

BrokerCommissionsPromotionAccount MinimumLearn More
TD Ameritrade Logo

TD Ameritrade

on TD Ameritrade's website

$0

per trade

Up to $600

cash credit with qualifying deposit

$0

on TD Ameritrade's website

E-Trade Logo

E-Trade

on E-Trade's website

$0

per trade

$100 to $2,500

cash credit with a qualifying deposit

$0

on E-Trade's website

TradeStation Logo

TradeStation

on TradeStation's website

$0

per trade

Up to $2,500

cash credit with a qualifying deposit

$500

on TradeStation's website

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

Interactive Brokers Logo

Interactive Brokers

on Interactive Brokers's website

$0

per trade

None

No promotion available at this time

$0

on Interactive Brokers's website

Schwab Brokerage Logo

Schwab Brokerage

$0

per trade

None

No promotion at this time

$0

Read review
Robinhood Logo

Robinhood

$0

per trade

None

no promotion available at this time

$0

Read review
eOption Logo

eOption

$0

None

no promotion available at this time

$500

Read review
Ally Invest Logo

Ally Invest

$0

per trade

$50 - $3,500

in cash bonus with qualifying deposit.

$0

Read review
BrokerCommissionsPromotionAccount MinimumLearn More
TD Ameritrade Logo

TD Ameritrade

on TD Ameritrade's website

$0

per trade

Up to $600

cash credit with qualifying deposit

$0

on TD Ameritrade's website

E-Trade Logo

E-Trade

on E-Trade's website

$0

per trade

$100 to $2,500

cash credit with a qualifying deposit

$0

on E-Trade's website

TradeStation Logo

TradeStation

on TradeStation's website

$0

per trade

Up to $2,500

cash credit with a qualifying deposit

$500

on TradeStation's website

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

Interactive Brokers Logo

Interactive Brokers

on Interactive Brokers's website

$0

per trade

None

No promotion available at this time

$0

on Interactive Brokers's website

Schwab Brokerage Logo

Schwab Brokerage

$0

per trade

None

No promotion at this time

$0

Read review
Robinhood Logo

Robinhood

$0

per trade

None

no promotion available at this time

$0

Read review
eOption Logo

eOption

$0

None

no promotion available at this time

$500

Read review
Ally Invest Logo

Ally Invest

$0

per trade

$50 - $3,500

in cash bonus with qualifying deposit.

$0

Read review

Last updated on November 5, 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 November 2019