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Top 5 options trading platforms in the United States in 2023
- tastyworks is the best options trading platform in 2023 - Low trading fees. Great educational materials. Good research tools.
- Interactive Brokers - Low trading fees. Wide range of products. Many great research tools.
- TD Ameritrade - Low trading fees (free stock and ETF trading). Superb desktop trading platform. Great customer support.
- Fidelity - Commission-free US stocks and ETFs. Great trading platforms and research. US and international stocks.
- Webull - Free stock, ETF and options trading. Fast and easy account opening. Great trading platforms.
How did BrokerChooser select the best brokers for options trading?
- We checked whether the broker has fair options fees,
- Assessed desktop trading platform and research capabilities,
- Checked withdrawal fees,
- Opened an account and tested the platform (charting, features, usability) with real money.
Save hours of research!
Our expert team has done all the work for you, and reviewed brokers based on BrokerChooser's unique methodology.
BrokerChooser evaluates 9 key areas for all brokers including fees, safety, ease of account opening, education, and trading platforms. We check more than 500 criteria for each broker and finetune our methodology every year based on our own and our users' experiences. We have more than 100 brokers reviewed on our site and our team of analysts examines more than 50,000 data points overall.
Best options trading platform in 2023
Overview of the best options trading platforms
While many options trading platforms offer an excellent service, the ones in our top list go the extra mile.
| Broker | Options markets | Minimum deposit | Account activated in |
|---|---|---|---|
| tastyworks | 8 | $0 | 1 day |
| Interactive Brokers | 34 | $0 | 1-3 days |
| TD Ameritrade | 8 | $0 | 1-3 days |
| Fidelity | 8 | $0 | 1-3 days |
| Webull | 6 | $0 | 1 day |
Best options trading platform in 2023
Fee comparison of the best brokers for options trading
How much you have to pay for a trade in spreads, commission and other trading costs is a key broker selection criteria. We calculated a benchmark fee for the most important costs when trading options, which you can see in the table below. This is the total of how much you have to pay in commissions and other costs for each asset class.
| tastyworks | Interactive Brokers | TD Ameritrade | Fidelity | Webull | |
|---|---|---|---|---|---|
| US stock index options | $7.5 | $6.5 | $6.5 | $6.5 | $0.0 |
| UK stock index options | - | $19.2 | - | - | - |
| German stock index options | - | $16.8 | - | - | - |
If you are unsure how brokerage fees work, check out this article on the various fees, charges and costs.
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Best options trading platform in 2023
Non-trading fees at the top brokers for options trading
Non-trading fees are charges not directly related to a given trade and typically include the account maintenance fee, deposit/withdrawal fees, and the inactivity fee.
| tastyworks | Interactive Brokers | TD Ameritrade | Fidelity | Webull | |
|---|---|---|---|---|---|
| Account fee | No | No | No | No | No |
| Inactivity fee | No | No | No | No | No |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
| Deposit fee | $0 | $0 | $0 | $0 | $0 |
#1 Best options trading platform
tastyworks
Recommended for options and futures traders focusing on us markets
| tastyworks snapshot | |
|---|---|
| Minimum deposit | $0 |
| Deposit method | Bank transfer |
| Withdrawal method | Bank transfer |
| Withdrawal fee | $0 |
| Inactivity fee | No |
| Trading platform score | 3.9 stars |
| Available options markets | 8 |
| Read review | For a detailed analysis of tastyworks services, check out our review for 2023 |
#2 Best options trading platform
Interactive Brokers
Recommended for traders looking for broad market access and a professional trading environment
| Interactive Brokers snapshot | |
|---|---|
| Minimum deposit | $0 |
| Deposit method | Bank transfer |
| Withdrawal method | Bank transfer |
| Withdrawal fee | $0 |
| Inactivity fee | No |
| Trading platform score | 3.6 stars |
| Available options markets | 34 |
| Read review | For a detailed analysis of Interactive Brokers services, check out our review for 2023 |
#3 Best options trading platform
TD Ameritrade
Recommended for investors and traders looking for solid research and a well-equipped desktop trading platform
| TD Ameritrade snapshot | |
|---|---|
| Minimum deposit | $0 |
| Deposit method | Bank transfer |
| Withdrawal method | Bank transfer |
| Withdrawal fee | $0 |
| Inactivity fee | No |
| Trading platform score | 4.6 stars |
| Available options markets | 8 |
| Read review | For a detailed analysis of TD Ameritrade services, check out our review for 2023 |
#4 Best options trading platform
Fidelity
Recommended for investors and traders looking for solid research and great trading platforms
| Fidelity snapshot | |
|---|---|
| Minimum deposit | $0 |
| Deposit method | Bank transfer, PayPal, Venmo, Apple Pay |
| Withdrawal method | Bank transfer, PayPal, Venmo, Apple Pay |
| Withdrawal fee | $0 |
| Inactivity fee | No |
| Trading platform score | 4.7 stars |
| Available options markets | 8 |
| Read review | For a detailed analysis of Fidelity services, check out our review for 2023 |
#5 Best options trading platform
Webull
Recommended for investors and traders looking for zero-commission trading and easy platforms
| Webull snapshot | |
|---|---|
| Minimum deposit | $0 |
| Deposit method | Bank transfer |
| Withdrawal method | Bank transfer |
| Withdrawal fee | $0 |
| Inactivity fee | No |
| Trading platform score | 5.0 stars |
| Available options markets | 6 |
| Read review | For a detailed analysis of Webull services, check out our review for 2023 |
Best options trading platform in 2023
What makes a good options trading platform
When selecting the best options trading platforms in 2023, we ranked brokers along more than 500 criteria. In order not to overwhelm you, here are the four most important criteria we considered.
| 1. Options and withdrawal fees | Options trading fees are obviously important, but withdrawal fees can also hurt your profits if you want to transfer out your money frequently. |
| 2. Markets and products | Some brokers offer a huge selection of options to trade, others not so much. Check the product offering before opening an account. |
| 3. Desktop trading platform | A user-friendly and well-equipped trading platform can significantly increase your trading comfort. Good charting and analytical tools are especially important. |
| 4. Research | Successful trading requires quality research tools. Make sure you can rely on the data provided by your chosen broker. |
Best options trading platform in 2023
FAQ
Which is the cheapest option trading brokerage?
There is no such thing as the cheapest broker for trading options. There are too many factors that determine the final price of a trade. Brokers such as tastyworks and Interactive Brokers offer competitive trading and non-trading fees but you may be able to find a local broker that has lower charges.
Can you get rich trading options?
Trading options can yield substantial returns on investment if the trade works out. This happens when the underlying asset's price moves significantly beyond the strike price. For this reason, option buyers often have greater profit potential. As with as any investment, options trading carries its own set of risks and is by no means a guarantee to financial success.
Which are the best brokers for trading options?
These are the top brokers for options trading in the world 2023:
- tastyworks - Low trading fees. Great educational materials. Good research tools.
- Interactive Brokers - Low trading fees. Wide range of products. Many great research tools.
- TD Ameritrade - Low trading fees (free stock and ETF trading). Superb desktop trading platform. Great customer support.
- Fidelity - Commission-free US stocks and ETFs. Great trading platforms and research. US and international stocks.
- Webull - Free stock, ETF and options trading. Fast and easy account opening. Great trading platforms.
Want to understand options and options trading in more detail?
Check out these articles written by our broker and trading experts:
