Best Brokers for Options Trading: 2026 Top Picks
After hours of analysis, we found that these options platforms charge low or no options contract fees and offer investors the tools and research necessary for options trading.The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.
Our deep, independent analysis of online brokers cuts through the details to find and evaluate the information investors want when choosing an options trading account.
Over 60 investment account providers reviewed and rated by our expert Nerds.
More than 50 years of combined experience writing about finance and investing.
Hands-on testing of the account funding process, provider websites and stock trading platforms.
Dozens of objective ratings rubrics and strict guidelines to maintain editorial integrity.
The best options platforms have low or no options contract fees, no trading commissions, quality trading tools, an abundance of high-quality research and the customer service necessary to support everyone from beginner investors to advanced traders.
The most recent trend among options trading platforms: Removing per-contract fees entirely. Similar to how many online brokers eliminated trading commissions years ago, options trading brokers are in the middle of a race to zero when it comes to contract fees, which are charged per purchase or sale of an options contract and have typically ranged from $0.50 to $0.65.
Below, we've flagged the brokers that charge no options contract fees. (There's even one, Public, which offers rebates, essentially paying you to trade options on its platform.) These companies may be particularly compelling for options traders who are looking for the platforms with the lowest fees — if you're looking for advanced options trading tools and platforms, you will want to prioritize that. Our editorial team factors in both when selecting this list.
Company | NerdWallet rating | Options contract fee | Mobile rating | Promotion | Learn more |
|---|---|---|---|---|---|
Best App for Investing | 5.0/5 | $0.65 | 5 | None no promotion available at this time | Learn moreon Fidelity's website |
Learn moreon Fidelity's website | |||||
Learn moreon Fidelity's website | |||||
4.5/5 | $0 | 4 | 1 Free Stock after linking your bank account (stock value range $5.00-$200) | Learn moreon Robinhood's website | |
Learn moreon Robinhood's website | |||||
Learn moreon Robinhood's website | |||||
5.0/5 | $0 | 5 | Up to 4% match (up to $2M) when you open and fund an account with Webull | Learn moreon Webull's website | |
Learn moreon Webull's website | |||||
Learn moreon Webull's website | |||||
4.6/5 | $0 | 5 | Get up to $1,000 in stock when you open & fund a new Active Invest account. Limited time offer. Terms & Conditions Apply. | Learn moreon SoFi Invest®'s website | |
Learn moreon SoFi Invest®'s website | |||||
Learn moreon SoFi Invest®'s website | |||||
4.8/5 | $0.65 | 3 | Up to $500 when you make a qualifying net deposit | Learn moreon Charles Schwab's website | |
Learn moreon Charles Schwab's website | |||||
Learn moreon Charles Schwab's website | |||||
Fidelity
Fidelity doesn't charge a commission on options trades, but they still carry a contract charge, which is $0.65. Fidelity doesn’t offer volume discounts on options. More broadly, Fidelity has done away with nearly all account fees, including the transfer and account closure fees that are commonly charged by brokers. Fidelity earns strong marks for its educational tools and customer service options, including a network of more than 200 branches for in-person advice and educational options, and 24/7 phone, chat and email support.
2026 Best-of Award winner: Fidelity is NerdWallet's pick for the best online broker for beginning investors and the best app for investing. Fidelity is one of the largest and most well-established brokerages, and it shows. Fidelity charges no trading commissions, offers an extensive set of no-fee, no-minimum index funds. It also stands out for its top-notch research tools, a renowned trading platform and very strong customer service.
Robinhood
Robinhood’s commitment to low-cost trading is especially apparent in its options trading offering — Robinhood is among the handful of brokers that don’t charge a per-contract fee. One of the biggest fees Robinhood charges is the $75 fee for transferring your investments to another broker. There's no fee for selling your investments and having the money transferred via ACH to your bank. The securities available to trade at Robinhood are limited: The platform doesn't support mutual funds and bonds, which can help build a diversified portfolio. For customer support, Robinhood lets users request a representative to call them back 24/7 for anything they need.
At Robinhood, trades of stocks, ETFs and their options are commission free, as are cryptocurrency trades. (Other fees may apply, including on index options.) Robinhood Gold offers a high interest rate on uninvested cash and low margin rates. The company does not offer mutual funds or individual bonds.
Webull
Webull is among the few brokerages that offer truly free options trades. Customers aren’t charged a per-trade commission nor a per-contract fee. Other costs include Webull’s transfer fee. Whether you’re transferring all of your assets from Webull to another brokerage or just a few, you’ll be charged a $75 transfer fee. However, you won’t pay any annual or inactivity fee at Webull. Despite a robust offering for active traders, Webull lacks access to some common securities, such as mutual funds and bonds. Webull offers 24/7 customer support via phone and email.
Webull will appeal to the mobile-first generation of casual investors with its slick interface for desktop and mobile apps. The brokerage also delivers an impressive array of tools for active traders and a wide investment selection, including stocks (plus fractional shares), options, ETFs, crypto, commodities and futures. However, it lacks access to mutual funds.
SoFi
SoFi Active Investing is known for its rock-bottom costs and options traders will benefit — SoFi is another broker that doesn't charge any options contract fees. The platform is best suited to beginner investors, as it is streamlined, approachable and very user-friendly, with strong educational content.
SoFi Active Investing's $0 trading commission, fractional shares and $0 account minimum are attractive to new investors. More advanced investors will appreciate the company's wide mutual fund selection and IPO access.
Charles Schwab
Schwab doesn’t charge any per-trade commissions for options, but it does charge $0.65 per contract. Overall, Schwab has some of the lowest account fees around. Schwab doesn’t have any annual or inactivity fee, and the fee to transfer assets out of the account is $25. If you do it all online, it’s only $15. Charles Schwab has a large selection of tradable securities, including mutual funds, ETFs, index funds, bonds, options and futures. It doesn't offer forex. Phone, email and online chat are all available 24/7. If you prefer to speak to someone in person, there are more than 400 Charles Schwab branches around the country, with some even open on Saturdays.
2026 Best-of Award winner: Charles Schwab is NerdWallet's pick for the best online broker for IRA investors. Charles Schwab has earned its strong reputation: The broker offers high-quality customer service, four free trading platforms, a wide selection of no-transaction-fee mutual funds and $0 commissions for stocks, ETFs and options.
Interactive Brokers
Options trading prices with Interactive Brokers are competitive, with a $.65 charge per contract and no base, plus discounts for larger volumes. The minimum options trade commission is $1 per order. Interactive Brokers charges no annual, account, transfer or closing fees, which is relatively rare among brokers reviewed by NerdWallet. The platform's selection ranges from standard offerings of stocks, options and ETFs to precious metals, forex, warrants and futures. Interactive Brokers also offers fractional shares of stock and 24-hour phone, email and chat support, six days a week.
2026 Best-of Award winner: Interactive Brokers is NerdWallet's pick for the best online broker for advanced traders. Don't let the name fool you: IBKR Lite offers commission-free stock trading (including international trade capabilities), more than 21,000 mutual funds, and a well-featured platform.
Public
While some brokers charge no fees on options trades, Public goes further — it pays you a rebate for each trade. The amount of that rebate depends on your account type and can be increased by referring new users to Public.
Public provides free stock and ETF trades, pays you to trade options, and gives traders access to crypto and bonds, as well as a high-yield cash account. The platform will appeal to traders looking for a low-cost options broker and access to many types of assets.
Tastytrade
Tastytrade uses a different fee structure for options trades, charging a $1 fee to open a contract but no fee to close it, essentially meeting the fee of brokers who charge $0.50 per side. The trading platform stands out for advanced options traders, with deep historical data, the ability to follow the trades of select traders and pre-built options strategies.
Tastytrade is a unique broker that offers a highly advanced trading experience. Investors will like the broad investment selection and advanced trading features, but beginners should be aware that this is not the platform for them.
Moomoo
Moomoo is among the brokers that charge no options contract fees for equity options. (Index options are $0.50 per contract, which is pretty standard.) The broker's trading platform impressed our testers with its balance between a sleek, streamlined UX and advanced tools for active traders.
Moomoo offers free stock and option trades in an easy-to-use trading platform that charges low margin rates. It's not built for passive retirement investors — IRAs aren't supported, nor are mutual funds — but there's a lot to like about Moomoo for more active traders.
Merrill Edge
Merrill Edge is a particularly good choice for Bank of America customers, as the service integrates seamlessly with a single login. Specifically compared to other brokerage firms that operate under a bank umbrella, Merrill Edge's trading platform stands out.
Merrill Edge's extensive research and educational offerings, its Idea Builder investment-finder tool, and its seamless integration with other Bank of America accounts make it a solid choice for beginner investors.
Methodology
How do we review brokers?
NerdWallet’s comprehensive review process evaluates and ranks the largest U.S. brokers by assets under management, along with emerging industry players. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgements on which ones will best meet your needs. We adhere to strict guidelines for editorial integrity.
We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists’ hands-on research, fuel our proprietary assessment process that scores each provider’s performance across more than 20 factors. The final output produces star ratings from poor (one star) to excellent (five stars).
For more details about the categories considered when rating brokers and our process, read our full methodology.