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Options Trading

When you're ready to take on options trading (it's not for beginners), you need an online options broker that will give you access to choices without bogging you down with a site that's hard to navigate or high commissions that will eat into your profits. We've made your search easy with an options broker comparison tool. It's the first step toward trading options.


Compare Options Trading

    Investing
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    Interactive Brokers

    • Options Trading: $.70 per contract ($1 minimum per order)
    Pros:
    • Large number of investments, including options, futures, and forex
    • Customize trading platform
    • Tools and opportunities for research
    Cons:
    • $10,000 minimum to open an account.
    • Platform can be too much for a beginner to understand
    • Inactivity fees if you don't meet the trade commission requirements.

    Our Review: (4.3) Do you have $10,000 and plenty of trading knowledge? Interactive Brokers may provide you with a solid trading platform. With their competitive fees and robust trading options, they are a common choice for the experienced trader... Read full review

    Investing
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    ZacksTrade

    • Options Trading: $3 for First Contract + $0.75 per additional
    Pros:
    • Fees starting at $3 per trade
    • Outstanding research tools
    • No additional fees for broker assisted trades
    Cons:
    • Not beginner friendly
    • $2,500 minimum to start

    Our Review: (4.4) Stock traders that hear the name Zacks likely think of research. That's because Zacks has been a top provider of investment research for many years. The company has since broadened their services to offer an online brokerage firm... Read full review

    Ally Invest
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    Ally Invest

    • Options Trading: $4.95 base + $0.65 per contract (50 cents per options contract special pricing for high-volume/high-balance traders)
    Pros:
    • Low commission for stock trades
    • No account minimums
    • Ally LIVE platform
    Cons:
    • No physical locations

    Our Review: (4.4) Ally Invest (formerly TradeKing) offers one of the lowest trade fees, but is it good? Learn the pros and cons and see comparisons with other online brokers in this in-depth review... Read full review

    Get Up to $3,500 Cash Bonus and Commission Free Trades for 90 Days

    Fidelity
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    Fidelity

    • Options Trading: $4.95 per online trade, plus $0.65 per contract
    Pros:
    • Research reports
    • Beginner-friendly tools
    • Mobile app
    Cons:
    • Restricted platform

    Our Review: (4.4) Thinking of opening a brokerage account with Fidelity? There are many reasons to love Fidelity and a few reasons to think about going elsewhere... Read full review

    Get 500 Free Trades for 2 Years

    Investing
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    Charles Schwab

    • Options Trading: $4.95 + $0.65 per contract
    Pros:
    • Vast selection of commission-free ETFs and mutual funds
    • 2 platforms (one for beginners and one for advanced traders)
    • 24/7 customer service including online chat
    Cons:
    • $1,000 minimum to open a brokerage account
    • Commission costs on mutual funds outside of the commission-free funds
    • Robo-advisor option requires a minimum investment of $5,000

    Our Review: (4.2) Charles Schwab is one of the oldest names in the world of investing. With something for investors of all levels, it's often the go-to brokerage for investors looking for a new broker... Read full review

    500 Commission-Free Online and Options Trades

    TD Ameritrade
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    TD Ameritrade

    • Options Trading: $6.95 + $0.75 per contract
    Pros:
    • Easy to Use
    • Thinkorswim Platform
    • Customer Service
    Cons:
    • Trade Fees

    Our Review: (4.2) TD Ameritrade fees are higher than competitors, but is it worth it? We say yes and here's why. We analyze and compare it for you in our in-depth review... Read full review

    Get 60 Days of Commission-Free Trading

    E*TRADE
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    E*TRADE

    • Options Trading: $6.95 + $0.75 per contract
      $4.95 + $0.50 per contract if you make 30+ trades a quarter
    Pros:
    • Expansive set of resources and tools
    • Easy to use website
    • Industry leader
    Cons:
    • Trade fees

    Our Review: (4.2) E*TRADE is a highly well-known name, but does that mean it's that much better than its competitors? Read our in-depth review and see how it compares... Read full review

    Get up to 500 Commission-Free Trades

    Scottrade
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    Scottrade

    • Options Trading: $6.95 + $0.70 per contract
    Pros:
    • Low per trade fees
    • Physical locations
    • Easy-to-navigate website
    Cons:
    • No futures trading
    • High broker-assisted fee

    Our Review: (4.2) With low trade fees, excellent resources, and superior customer service, Scottrade is a highly trusted online broker. Read on for our in-depth review... Read full review

    Open an Account

    Investing
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    Merrill Edge

    • Options Trading: $6.95 + $.75 per contract
    Pros:
    • No account minimums
    • Current Bank of America customers experience seamless account integration
    • Robust research opportunities
    Cons:
    • Platform is not friendly for frequent traders who execute quick trades
    • No commission-free ETFs available
    • Market research reports can be hard for beginners to understand

    Our Review: (4.3) If you are looking for excellent customer service, competitive pricing, and robust investment options, you may have found what you are looking for in Merrill Edge... Read full review

    Get $150 with New Merrill Edge Account

    Investing
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    Vanguard

    • Options Trading: Less than $500,000: $7 + $1 per contract.
      $500,000+: $2 + $1 per contract
    Pros:
    • Large selection of mutual funds and commission-free ETFs
    • Broker assistance is available at no additional cost
    • Easy to use
    Cons:
    • Commission structure penalizes frequent traders
    • Customer service wait times
    • Commission costs on non-Vanguard investment options

    Our Review: (3.9) Vanguard Brokerage may be a full-service broker, but typically long-term investors preferring ETFs and mutual funds see the greatest return on their investment with them... Read full review


Articles on Options Trading

    Best Options Broker

    October 13, 2017 - Reviews
    The best options broker offers great service, low prices, and a user-friendly trading platform. Find the top options brokers to consider.

    How to Trade Options

    Tips
    Trading options is complex, but could be highly profitable. Educate yourself with this options trading tutorial for a simple introduction.

    Implied Volatility

    Tips
    Wouldn't it be nice if someone could tell you which options to trade? If you had a crystal ball that showed you how an option would perform?

    Iron Condor

    Tips
    What if you could limit your losses while predicting your profits? It sounds too good to be true. It's possible with the iron condor, though.

    Butterfly Spread

    Tips
    Predicting a stock's future can be a profitable investment. It can also lead to tremendous loss. Wouldn't it be nice if you could limit your losses? It may be possible with the butterfly call spread.

    Strangle

    Tips
    Trading options means you predict what a stock will do. That's not an easy job. If you want a little more leverage on either side, you can use the strangle strategy. You strangle the stock on either side with an option. This gives you protection ...

    Collar Option

    Tips
    What if you could minimize your losses on a stock? It sounds like a dream come true, right? The collar option gives you that chance. It comes at a cost, though. You'd have to maximize your profits. Is it worth it?

    Call Long

    Tips
    You think a stock's price will increase, so you want in on that trade. What if you didn't have to fork over the entire amount of capital? What if you could pay a much smaller premium and still make money?

    Protective Put

    Tips
    If you could have protection while investing in stocks, wouldn't you jump at the chance? That's what a protective put offers. It's not a guarantee - there can still be losses. But, with the right strategy, it can help you make the most of your ...

    Covered Call

    Tips
    Making an extra premium while you wait for a stock to increase sounds like a dream come true. That's what a covered call does for you. It's not an exact science. There are no guaranteed profits. There are also no limits to your losses. It can be ...

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ZacksTrade Review

Stock traders that hear the name Zacks likely think of research. That's because Zacks has been a top provider of investment research for many years. The company has since broadened their services to offer an online brokerage firm.


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