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Best options trading platforms and brokers in 2023

tastyworks Logo
1st place
tastyworks
Interactive Brokers Logo
2nd place
Interactive Brokers
TD Ameritrade Logo
3rd place
TD Ameritrade

Top 5 options trading platforms in the United States in 2023


  1. tastyworks is the best options trading platform in 2023 - Low trading fees. Great educational materials. Good research tools.
  2. Interactive Brokers - Low trading fees. Wide range of products. Many great research tools.
  3. TD Ameritrade - Low trading fees (free stock and ETF trading). Superb desktop trading platform. Great customer support.
  4. Fidelity - Commission-free US stocks and ETFs. Great trading platforms and research. US and international stocks.
  5. Webull - Free stock, ETF and options trading. Fast and easy account opening. Great trading platforms.
Check out the best brokers in another country

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.

Top brokers for options key data compiled for February 2023
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.

Fees at the top brokers for options trading in February 2023
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
tastyworks Logo

#1 Best options trading platform
tastyworks

Recommended for options and futures traders focusing on us markets

Visit broker

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
Interactive Brokers Logo

#2 Best options trading platform
Interactive Brokers

Recommended for traders looking for broad market access and a professional trading environment

Visit broker

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
TD Ameritrade Logo

#3 Best options trading platform
TD Ameritrade

Recommended for investors and traders looking for solid research and a well-equipped desktop trading platform

Visit broker

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
Fidelity Logo

#4 Best options trading platform
Fidelity

Recommended for investors and traders looking for solid research and great trading platforms

Visit broker

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
Webull Logo

#5 Best options trading platform
Webull

Recommended for investors and traders looking for zero-commission trading and easy platforms

Visit broker

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.

4 most important criteria for the best options trading platforms in 2023
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:

  1. tastyworks - Low trading fees. Great educational materials. Good research tools.
  2. Interactive Brokers - Low trading fees. Wide range of products. Many great research tools.
  3. TD Ameritrade - Low trading fees (free stock and ETF trading). Superb desktop trading platform. Great customer support.
  4. Fidelity - Commission-free US stocks and ETFs. Great trading platforms and research. US and international stocks.
  5. 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:

Author of this article

Gergely Korpos

Author of this article

Gergely is the co-founder and CPO of BrokerChooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Gergely Korpos

Co-Founder, CPO

Gergely is the co-founder and CPO of BrokerChooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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