investing

Best

Best Brokers for Options Trading: 2026 Top Picks

10 Best Brokers for Options Trading: 2026 Top Picks

•

•

•

Chris Davis is a Managing Editor on the Investing team. As a writer, he covered the stock market, investing strategies and investment accounts, and as a spokesperson, he appeared on NBC Bay Area and was quoted in Forbes, Apartment Therapy, Martha Stewart and Lifewire, among others. His work has appeared in The Associated Press, The Washington Post, MSN, Yahoo Finance, MarketWatch, Newsday and TheStreet.

•

•

•

Arielle O’Shea leads the investing and taxes team at NerdWallet. She has covered personal finance and investing for nearly 20 years, and was a senior writer and spokesperson at NerdWallet before becoming an editor. Previously, she was a researcher and reporter for leading personal finance journalist and author Jean Chatzky, a role that included developing financial education programs, interviewing subject matter experts and helping to produce television and radio segments. Arielle has appeared on the "Today" show, NBC News and ABC's "World News Tonight," and has been quoted in national publications including The New York Times, MarketWatch and Bloomberg News. She is based in Charlottesville, Virginia.

•

•

•

Arielle O’Shea leads the investing and taxes team at NerdWallet. She has covered personal finance and investing for nearly 20 years, and was a senior writer and spokesperson at NerdWallet before becoming an editor. Previously, she was a researcher and reporter for leading personal finance journalist and author Jean Chatzky, a role that included developing financial education programs, interviewing subject matter experts and helping to produce television and radio segments. Arielle has appeared on the "Today" show, NBC News and ABC's "World News Tonight," and has been quoted in national publications including The New York Times, MarketWatch and Bloomberg News. She is based in Charlottesville, Virginia.

Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.

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.

Best Brokers for Options Trading: 2026 Top Picks

Fidelity

Robinhood

Webull

SoFi Active Investing

Charles Schwab

Fees

$0

per trade for online U.S. stocks and ETFs

Account minimum

$0

Promotion

None

no promotion available at this time

Commission-free stock, options and ETF online US trades.

Large selection of research providers.

Strong customer service.

Expense-ratio-free index funds.

Highly rated mobile app.

High interest rate on uninvested cash.

Great for investors who already have a 401(k) through Fidelity.

Relatively high broker-assisted trade fee.

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.

Fees

$0

per online equity trade

Account minimum

$0

Promotion

Up to $500

when you make a qualifying net deposit

Commission-free stock, options and ETF trades.

Five trading platforms with no minimums or fees.

Access to thinkorswim platforms.

Extensive research offerings.

Large fund selection.

Low interest rate on uninvested cash.

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.

Fees

$0

per trade

Account minimum

$0

Promotion

None

no promotion available at this time

Commission-free stock, options and ETF trades.

Large investment selection.

Strong research and tools.

Huge selection of no-transaction-fee mutual funds.

High order execution quality.

High minimum to earn interest on uninvested cash.

Website can be difficult to navigate for beginner investors.

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.

Fees

$0

Account minimum

$0

Promotion

None

no promotion available at this time

Powerful trading platform.

Commission-free stock, options and ETF trades.

Low options contract fees.

Strong mobile trading app.

Limited external research providers.

Low interest rate on uninvested cash.

Advanced platform not suitable for beginners.

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.

Fees

$0

per trade

Account minimum

$0

Promotion

Get up to $600

when you invest in a new Merrill account

Commission-free stock, options and ETF trades.

Integrated with Bank of America.

High order execution quality.

24/7 phone support.

No fractional shares.

Low interest rates on uninvested cash.

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.

Our pick for

no options contract fees

Fees

$0

on trades of stocks, ETFs and their options. Other fees may apply.

Account minimum

$0

Promotion

1 Free Stock

after linking your bank account (stock value range $5.00-$200)

Trades of stocks, ETFs and their options are commission free. Other fees may apply.

Streamlined interface.

Cryptocurrency trading.

IRA with 1% match (3% for Gold members).

High interest rate on uninvested cash.

No mutual funds.

Little third-party research.

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.

Fees

$0

per trade

Account minimum

$0

Promotion

Up to 4% match (up to $2M)

when you open and fund an account with Webull

Commission-free stock, options and ETF trades.

Easy-to-use platform.

Advanced tools.

High interest rate on uninvested cash.

High order execution quality.

No mutual funds.

Webull is among the few brokerages that offer 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.

Fees

$0

per trade

Account minimum

$0

Promotion

Get up to $1,000

in stock when you open & fund a new Active Invest account. Limited time offer. Terms & Conditions Apply.

No commissions on stock, options and ETF trades.

IPO access.

1% IRA match for members.

Low interest rate on uninvested cash.

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.

Fees

$0

Account minimum

$0

Promotion

Earn a 1% uncapped match

when you transfer your investment portfolio to Public.

Commission-free stock, options and ETF trades.

Rebates for trading options.

Easy-to-use signup and trading interface.

High interest rate on uninvested cash.

No mutual funds.

Lack of tools (e.g. customizable investment screeners).

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.

Fees

$0

Account minimum

$0

Promotion

Earn 8.1% APY

on your uninvested cash for 3 months + up to 60 Free Stocks with qualified deposits. Terms & Conditions apply.

Commission-free stock, ETF and options trades.

No contract fee on equity options.

Popular, easy-to-use app.

High yield on uninvested cash.

Low margin rates.

No mutual funds or bonds.

Lower than average execution quality.

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.

ON THIS PAGE

Last updated on March 3, 2026

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.

NerdWallet's Best Brokers for Options Trading: 2026 Top Picks

About the author

Chris Davis is a Managing Editor on the Investing team. As a writer, he covered the stock market, investing strategies and investment accounts, and as a spokesperson, he appeared on NBC Bay Area and was quoted in Forbes, Apartment Therapy, Martha Stewart and Lifewire, among others. His work has appeared in The Associated Press, The Washington Post, MSN, Yahoo Finance, MarketWatch, Newsday and TheStreet.

Published in:

About the reviewer

Arielle O’Shea leads the investing and taxes team at NerdWallet. She has covered personal finance and investing for nearly 20 years, and was a senior writer and spokesperson at NerdWallet before becoming an editor. Previously, she was a researcher and reporter for leading personal finance journalist and author Jean Chatzky, a role that included developing financial education programs, interviewing subject matter experts and helping to produce television and radio segments. Arielle has appeared on the "Today" show, NBC News and ABC's "World News Tonight," and has been quoted in national publications including The New York Times, MarketWatch and Bloomberg News. She is based in Charlottesville, Virginia.

Published in: