Top Options Trading Brokers for 2024

We found 11 online brokers that are appropriate for Trading Options Trading.

Best Options Trading Brokers Guide

Analysis by Andrew Blumer, Updated Last updated - April 18, 2024

Options Trading

For some people, Options trading seems a bit daunting to learn and explore. Perhaps you have about its risks which has made you take a step back.

Regardless of the news options trading is considered as one of the best assets to diversify a investment portfolio.

When you are diversifying your investment portfolio, some asset classes may get involved such as stocks, bonds, mutual funds, as well as ETFs.

It is true that Options Trading is the not as popular among other forms of trading but when used correctly, it can help you to mitigate the risks and improve your profiting opportunities.

Options Trading Overview

For those who do not know, an Option is a contract that grants the buyer the right to buy or sell the asset at the specific price on the date that they set themselves.

Do note that you have this right and its not an obligation. Traders who have options can buy or sell the underlying asset.

Options trading is a prevalent choice for traders who are striving for income, speculating, or hedging risks.

The other name of Options are Derivatives. This is because the Options attain the value from the underlying assets.

For instance, a standard stock option contract constitutes 100 underlying asset shares, in this instance the stock. Although it seems different with the other asset classes, you can purchase it by using your brokerage investment accounts.

When you use it correctly, it can improve the traders’ individual portfolio and you can use it through the income, protection, or leverage.

Although not all the time, options can be a great choice to hedge against the declining stock market. When you can use this opportunity, you will be able to limit the downside losses. You can also focus on the options trading for the recurring income faucet.

In addition, traders who are up to speculation can also stick to the options trading to wager on the direction of the stock.

The Derivatives

Options which are inside the securities group are what we call derivatives. The price of derivatives will depend on the price of the underlying assets.

This means when we talk about financial securities, their value can be affected by the price of other assets. The most common derivatives are puts, calls, futures, forwards, swaps, and securities.

Using the options

As discussed, options can be prevalent for speculation as well as hedging. You might want to speculate that the price of the stock will go up based on the technical or fundamental analysis.

Instead of purchasing the stock, you might want to use the call option instead. The call option would be a minimal cost of just a few dollars or perhaps cents. That means you do not need to spend a lot of money for the full stock price.

Meanwhile, hedging purposes are also viable in options trading. You can hedge with the options to mitigate the risks in the underlying assets.

You can also reduce the risks in your overall investment portfolio. For instance, you could consider hedging with an insurance policy.

You can insure your investments against any decline. When the traders purchase the stocks, most of them will certainly want to limit the losses.

When using put options, you can limit the downside risk. It is also a great choice for traders who are fond of short selling.

Options trading has gained popularity over recent years and investors are looking for the best options trading brokers to help in executing orders.

Before opening an account it is important to understand what kind of investor you are, which tools you will need when trading, what your level of risk is and what your trading style is.

Options are not easy to understand. Similarly, it is not easy to trade. All the options trading brokers allow clients to bring complex positions into a single order. Some even allow one option position in one order.

Options Trading Brokers and Commissions

Commission structure of options trading brokers is complicated when compared to stock trading. Late last year cuts in commissions swept the industry. Many brokers asked for each leg fee along with a commission on each trade. It has also been seen some options trading brokers placed commission caps with certain scenarios.

Options Trading Advantages

Options trading is possible with a lower upfront commitment. Buying an option is cheaper than purchasing shares in most scenarios.

Options can be used to increase yield of portfolios, selling later in part or whole when required.

Options guarantee buying or selling the stock at the price that was agreed earlier. However, it has to be done before the expiry of an option contract.

Options Trading Disadvantages

Things to Consider

Before buying, selling or holding a stock it is important to understand the business of the company inside out. Traders need to be aware of what they are buying.

Many believe options trading is complicated but it can be fruitful with research and there are many opportunities to explore.

Options Trading Verdict

Traders get more strategic leeway compared to simply buy or sell of stocks. Traders use options to protect or expand the portfolio. It helps with increased returns too on positions and minimizing the risk on investment.

There are pros and cons. The upfront commitment in options trading is comparatively lower and guarantees either buying or selling of stocks later at the current strike price.

Profits can never be guaranteed and so the loss in options trading is magnified. The loss can be more than the contract price.

To get the best return out of investment or to minimize risk to the lowest level, it is suggested to strike a deal with one of the best options trading brokers based on several factors like regulation, popularity, review, trading platform and more related ones.

We have conducted extensive research and analysis on over multiple data points on Options Trading Brokers to present you with a comprehensive guide that can help you find the most suitable Options Trading Brokers. Below we shortlist what we think are the best options trading brokers after careful consideration and evaluation. We hope this list will assist you in making an informed decision when researching Options Trading Brokers.

Reputable Options Trading Brokers Checklist

Selecting a reliable and reputable online Options Trading trading brokerage involves assessing their track record, regulatory status, customer support, processing times, international presence, and language capabilities. Considering these factors, you can make an informed decision and trade Options Trading more confidently.

Selecting the right online Options Trading trading brokerage requires careful consideration of several critical factors. Here are some essential points to keep in mind:

Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.

Compare Key Features of Options Trading Brokers in Our Brokerage Comparison Table

When choosing a broker for options trading trading, it's essential to compare the different options available to you. Our options trading brokerage comparison table below allows you to compare several important features side by side, making it easier to make an informed choice.

By comparing these essential features, you can choose a options trading broker that best suits your needs and preferences for options trading. Our options trading broker comparison table simplifies the process, allowing you to make a more informed decision.

Top 15 Options Trading Brokers of 2024 compared

Here are the top Options Trading Brokers.

Compare options trading brokers for min deposits, funding, used by, benefits, account types, platforms, and support levels. When searching for a options trading broker, it's crucial to compare several factors to choose the right one for your options trading needs. Our comparison tool allows you to compare the essential features side by side.

All brokers below are options trading brokers. Learn more about what they offer below.

You can scroll left and right on the comparison table below to see more options trading brokers that accept options trading clients.

Broker IC Markets Roboforex EasyMarkets SpreadEx Trading212 IG binance webull tradezero nadex zackstrade
Rating
Regulation Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) RoboForex Ltd is regulated by the FSC, license 000138/437, reg. number 128.572. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), British Virgin Islands Financial Services Commission (BVI) Financial Conduct Authority (FCA) Financial Conduct Authority (FCA) Firm reference number 609146, Financial Supervision Commission (FSC), Cyprus Securities and Exchange Commission (CySec) License number 398/21 Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC) Unregulated Securities Investor Protection Corporation (SIPC), Financial Industry Regulatory Authority (FINRA) Securities Commission of the Bahamas (SCB) Unregulated Unregulated
Min Deposit 200 10 100 1 1 No minimum deposit 100 50 500 250 2500
Funding
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
Used By 180,000+ 1,000,000+ 142,500+ 10,000+ 15,000,000+ 239,000+ 10,000+ 5,000+ 2,000+ 10,000+ 10,000+
Benefits
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection
  • Low min deposit
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Offers Negative Balance Protection
  • Low min deposit
Accounts
  • Demo account
  • Mini account
  • Standard account
  • Zero spread account
  • Raw Spread account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Zero spread account
  • ECN account
  • Islamic account
  • Demo account
  • Standard account
  • Islamic account
  • Demo account
  • Standard account
  • Demo account
  • Demo account
  • Mini account
  • Standard account
  • Standard account
  • Managed account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Standard account
  • Islamic account
  • Demo account
  • Mini account
  • Managed account
Platforms MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android MT4, MT5, Mac, Web Trader, Tablet & Mobile apps MT4, MT5, Web Trader, TradingView, Tablet & Mobile apps Web Trader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps MT4, Mac, Web Trader, L2 Dealer, Tablet & Mobile apps Desktop,Android,iPhone/iPad,Mac Web Trader, Tablet & Mobile apps MT4, Web Trader, Tablet & Mobile apps Web,iPad,mac,Desktop,iPhoneiOS Android,iPhone/iPad,Tablet
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Learn More Sign Up with
icmarkets
Sign Up with
roboforex
Sign Up with
easymarkets
Sign Up with
spreadex
Sign Up with
trading212
Sign Up with
ig
Sign Up with
binance
Sign Up with
webull
Sign Up with
tradezero
Sign Up with
nadex
Sign Up with
zackstrade
Risk Warning Losses can exceed deposits Losses can exceed deposits Your capital is at risk Losses can exceed deposits CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Your capital is at risk Your capital is at risk Your capital is at risk Your capital is at risk Your capital is at risk
Demo IC Markets
Demo
Roboforex
Demo
easyMarkets
Demo
SpreadEx
Demo
Trading 212
Demo
IG
Demo
Binance
Demo
Webull
Demo
TradeZero
Demo
nadex
Demo
Zacks Trade
Demo
Excluded Countries US, IR, CA, NZ, JP AU, BE, BQ, BR, CA, CW, CZ, DE, ES, EE, EU, FM, FR, FI, GW, ID, IR, JP, LR, MP, NL, PF, PL, RU, SE, SJ, SS, SL, SI, TL, TR, DO, US, IT, AT, PT, BG, HR, CY, DK, FL, GR, IE, LV, LT, MT, RO, SK, CH US, IL, BC, MB, QC, ON, AF, BY, BI, KH, KY, TD, KM, CG, CU, CD, GQ, ER, FJ, GN, GW, HT, IR, IQ, LA, LY, MZ, MM, NI, KP, PW, PA, RU, SO, SS, SD, SY, TT, TM, VU, VE, YE US, TR US, CA US, BE, FR, IN, IL, PL, ZW RU UK, AU, SA, AL, DZ, AS, AD, AO, AI, AQ, AG, AR, AM, AW, AT, AZ, BS, BH, BD, BB, BY, BE, BZ, BJ, BM, BT, BO, BQ, BA, BW, BV, BR, IO, BN, BG, BF, BI, CV, KH, CM, CA, KY, CF, TD, CL, CX, CC, CO, KM, CD, CG, CK, CR, HR, CU, CW, CY, CZ, CI, DK, DJ, DM, DO, EC, EG, SV, GQ, ER, EE, SZ, ET, FK, FO, FJ, FI, FR, GF, PF, TF, GA, GM, GE, DE, GH, GI, GR, GL, GD, GP, GU, GT, GG, GN, GW, GY, HT, HM, VA, HN, HK, HU, IS, IN, ID, IR, IQ, IE, IM, IL, IT, JM, JP, JE, JO, KZ, KE, KI, KP, KR, KW, KG, LA, LV, LB, LS, LR, LY, LI, LT, LU, MO, MG, MW, MY, MV, ML, MT, MH, MQ, MR, MU, YT, MX, FM, MD, MC, MN, ME, MS, MA, MZ, MM, NA, NR, NP, NL, NC, NZ, NI, NE, NG, NU, NF, MP, NO, OM, PK, PW, PS, PA, PG, PY, PE, PH, PN, PL, PT, PR, QA, MK, RO, RU, RW, RE, BL, SH, KN, LC, MF, PM, VC, WS, SM, ST, SN, RS, SC, SL, SG, SX, SK, SI, SB, SO, ZA, GS, SS, ES, LK, SD, SR, SJ, SE, CH, SY, TW, TJ, TZ, TH, TL, TG, TK, TO, TT, TN, TR, TM, TC, TV, UG, UA, AE, GB, UM, UY, UZ, VU, VE, VN, VG, VI, WF, EH, YE, ZM, ZW, AX US, IN, PK, BD, NG , ID, BE


All Options trading brokers in more detail

You can compare Options Trading Brokers ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.

We also have an indepth Top Options Trading Brokers for 2024 article further below. You can see it now by clicking here

We have listed top Options trading brokers below.

Options Trading Brokers List

IC Markets
(4/5)
Min deposit : 200
IC Markets was established in 2007 and is used by over 180000+ traders. Losses can exceed deposits IC Markets offers Forex, CFDs, Spread Betting, Share dealing, Cryptocurrencies. Cryptocurrency availability with IC Markets is subject to regulation.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC)
Roboforex
(4/5)
Min deposit : 10
Roboforex was established in 2009 and is used by over 1000000+ traders. Losses can exceed deposits Roboforex offers Forex, CFDs.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Mac, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by RoboForex Ltd is regulated by the FSC, license 000138/437, reg. number 128.572. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund
EasyMarkets
(4/5)
Min deposit : 100
easyMarkets was established in 2001 and is used by over 142500+ traders. Your capital is at risk easyMarkets offers CFD, Forex, Commodities, Indices, Shares, Crypto. Cryptocurrency availability with easyMarkets is subject to regulation.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Web Trader, TradingView, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), British Virgin Islands Financial Services Commission (BVI)
SpreadEx
(4/5)
Min deposit : 1
SpreadEx was established in 1999 and is used by over 10000+ traders. Losses can exceed deposits SpreadEx offers Forex, CFDs, and spread betting.

Funding methods

Bank transfer Credit Card Paypal

Platforms

Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by Financial Conduct Authority (FCA)
Trading212
(3/5)
Min deposit : 1
Trading 212 was established in 2004 and is used by over 15000000+ traders. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Trading 212 offers Stocks, Forex, Commodities, Indices.

Funding methods

Bank transfer Credit Card Paypal

Platforms

Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by Financial Conduct Authority (FCA) Firm reference number 609146, Financial Supervision Commission (FSC), Cyprus Securities and Exchange Commission (CySec) License number 398/21
IG
(2/5)
Min deposit : 0
IG was established in 1974 and is used by over 239000+ traders. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. IG offers Forex, CFDs, Spread Betting, Share dealing.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Mac, Web Trader, L2 Dealer, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC)
binance
(3/5)
Min deposit : 100
Binance was established in 2011 and is used by over 10000+ traders. Your capital is at risk Binance offers Forex trading, Spread Betting, Social trading, .

Funding methods

Bank transfer Credit Card Paypal

Platforms

Desktop,Android,iPhone/iPad,Mac

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
webull
(4/5)
Min deposit : 50
Webull was established in 2017 and is used by over 5000+ traders. Your capital is at risk Webull offers Stocks, Options, ETFs, ADRs.

Funding methods

Bank transfer Credit Card Paypal

Platforms

Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by Securities Investor Protection Corporation (SIPC), Financial Industry Regulatory Authority (FINRA)
tradezero
(2/5)
Min deposit : 500
TradeZero was established in 2014 and is used by over 2000+ traders. Your capital is at risk TradeZero offers ETFs, Stocks, Warrants, Options.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by Securities Commission of the Bahamas (SCB)
nadex
(3/5)
Min deposit : 250
nadex was established in 2008 and is used by over 10000+ traders. Your capital is at risk nadex offers Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing.

Funding methods

Bank transfer Credit Card Paypal

Platforms

Web,iPad,mac,Desktop,iPhoneiOS

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
zackstrade
(3/5)
Min deposit : 2500
Zacks Trade was established in 2008 and is used by over 10000+ traders. Your capital is at risk Zacks Trade offers Forex trading, CFD trading, Social trading, Share Dealing.

Funding methods

Bank transfer Credit Card Paypal

Platforms

Android,iPhone/iPad,Tablet

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account

Learn more Learn more about IC Markets.
Losses can exceed deposits
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Losses can exceed deposits