Compare the 6 best options trading platforms in 2024

Options trading is a popular way to invest in the markets but requires a specific type of broker. This page picks out the best options trading platform available today.
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Updated: Dec 27, 2023
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Trade your favourite markets with our top-rated broker, Plus500.

4.5/5

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

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Our panel of trading experts investigated and reviewed the best online trading platforms for options and you can find out which brokers ranked the best right here. Read on to learn more about options trading and find the best brokers to use. 

Best options trading brokers overall for 2024

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  1. Plus500: Best for international CFD trading*
  2. eToro: Best for beginners, copy-trading & demo-account
  3. Public: Best for sharing beginner trading ideas

What are the best options trading platforms?

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We recommend Plus500 as the best options broker. We compared 63+ online options trading brokers to find the best choice for everyday users. Below are three more option brokers that offer low trading fees, market-leading security, and a range of assets to trade.

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1
Min. Deposit
$ 100
Best offer
User Score
9.9
Offre spéciale limitée - 0% de commission et 0% de droits de timbre sur TOUS les stocks!
Plateforme primée - achetez des actifs physiques ou négociez avec effet de levier
Plus de 11 méthodes de paiement, dont PayPal
Start Trading
Payment Methods:
American Express, Apple Pay, Carte de crédit, Carte de débit, Discover, Google Pay, Ideal, Klarna, Maestro Master, Mastercard, POLi, Przelewy24, Rapid Transfer, SEPA, Sofort, Trustly, Virement, Virement bancaire, Visa, Visa Electron, , , , , , , ,
Full Regulations:
ASIC, CySEC, FCA

eToro offers real assets only, no CFD products. eToro securities trading offered by eToro USA Securities, Inc. (‘the BD”), member of FINRA and SIPC. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Invezz.com is not an affiliate and may be compensated if you access certain products or services offered by the BD.

2
Min. Deposit
$ 0
Best offer
User Score
9.7
Start Trading
Payment Methods:
Carte de crédit, PayPal, Virement,
Full Regulations:
CNVM Romania, CySEC, FCA, IFSC
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% 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.
3
Min. Deposit
$ 100
Best offer
User Score
9.9
Ouvrez un compte MT5 pour être long ou court sur 250 des plus grandes actions américaines, australiennes et européennes
Instruments dans 21 délais et 80 indicateurs pré-installés
Réglementation multijuridictionnelle par ASIC et VFSC
Start Trading
Payment Methods:
Carte de crédit, Crypto-monnaies, PayPal, Virement bancaire, ,
Full Regulations:
ASIC, CySEC, FCA
74-89% of retail CFD accounts lose money

Top 6 options brokers, reviewed

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1. Plus500. Best for international CFD trading*

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From 0.08%

Fees

$100

Minimum deposit

3,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Can get a free demo account A great mobile platform Well regulated in multiple jurisdictions Wide variety of CFDs to trade Several good risk management tools
No support on trading information and education Website isn’t brilliantly designed to help users find answers to their questions No MetaTrader trading platform compatibility

Overview

We love Plus500 because it is one of the industry’s most transparent and reliable brokers. Its fees are clear and you’ll know exactly what you will be paying before you make a trade. Its technology driven platform gives access to CFDs on over 2000 stocks.

Plus500 has something for all types of stock trader, no matter what level of experience. Its zero commission and tight spreads make it a top choice for day traders and its trading academy is packed with educational content, perfect for beginners just starting.

For accurate instrument availability, visit plus500.com.

The fees: There are no commission fees on any trades with Plus500 and it makes it money through the Bid/Ask spread. Spread starts from 0.01% and varies depending on the instrument. Additional fees include overnight funding depending on trade size and guaranteed stop orders, which add a minimum of 10% to the spread. There is an inactivity charge of £10 per month for accounts not logged in for three months. 

*Based on a comparison of 60+ leading brokers and trading platforms.

Highlights

Visit Plus500 Plus500 Review

Buy or sell stock CFDs with Plus500. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2. eToro. Best for beginners, copy-trading & demo-account

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0% commission

Fees

$100

Minimum deposit

4,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Great for beginners, simple to set up and get started Competitive, industry-leading commissions Popular ‘Copy Portfolios’ function lets you follow top traders Excellent customer service, with live chat support provided
Comparatively high fees for withdrawals and account inactivity Does not integrate with the MetaTrader platform High spreads on some assets

Overview

We love eToro because you can trade more than 3,000 stocks, commission free. When you buy stocks on eToro, you’re buying the underlying asset, which means you can earn dividends. Or you can trade fractional shares, which means you can invest in even the most expensive stock from just $10.

As well as being a broker that offers lots of investor protection, eToro offers a very social trading experience. You can easily see what’s trending on the stock market every day, browse the latest analyst opinion about every one of those stocks, and copy other people’s trade suggestions from your desktop or the eToro app.

The fees: Stock and ETF trades are commission free. Stock CFDs are charged a 0.15% spread and overnight fees can apply. You can deposit money for free but you have to pay $5 per withdrawal, and there’s a minimum withdrawal of $30. A $10 per month activity fee is charged if you don’t log in for a year.

Highlights

Visit eToro eToro Review

eToro offers real assets only, no CFD products. eToro securities trading offered by eToro USA Securities, Inc. (‘the BD”), member of FINRA and SIPC. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Invezz.com is not an affiliate and may be compensated if you access certain products or services offered by the BD.

3. Public. Best for sharing beginner trading ideas

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public.com logo

...

Fees

...

Minimum deposit

...

No. assets

No

Demo/virtual account

Pros & Cons

Commission free stock and ETF investing Share and compare your portfolio on a social trading platform Trade crypto, fractional shares, and alternative investments
You can't trade on margin or use leverage No forex, options, funds, metals, or bonds

Overview

We love Public because it’s a social platform where you can share trading tips and get ideas from other people. Public offers 9,000+ financial instruments, including cryptocurrencies and stocks from around the world.

Alongside a community of other investors all sharing their ideas, Public offers real time news and information so that you can see the full picture before you invest. And the assets don’t just include your run-of-the-mill assets; you can make alternative investments in things like handbags and comic books as well.

The fees: There are no fees for investing in stocks during regular trading hours in the US – 9.30am-4pm EST. There is a $2.99 fee for trades outside of regular hours.

Highlights

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Cryptocurrency execution and custody services are provided by Apex Crypto LLC (NMLS ID 1828849) through a software licensing agreement between Apex Crypto LLC and Public Crypto LLC. Crypto trading on Public platforms is served by Public Crypto LLC and offered through APEX Crypto. Please ensure that you fully understand the risks involved before trading.

What is an options broker?

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It’s a financial brokerage that offers options contracts, which give you the right to buy or sell an asset at a specified price.

The best options trading platforms can be used online via desktop software, or on the go through mobile apps. An options trading platform lets you buy and sell options contracts, view real-time prices, and track your portfolio. 

These platforms are very similar to futures trading platforms, and there is often a lot of crossover between the two services. Futures are like options, but they include an obligation to buy or sell at a given price, rather than just an opportunity to.

What are options?

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Options are financial contracts that give a trader the right, but not the obligation, to buy or sell an underlying asset at a specified date and price. Options can be used on various financial instruments, including stocks, commodities, currencies, indexes, futures, and more. 

An options contract is known as a derivative, because its value is derived from the value of the underlying asset. The price at which you may buy or sell the asset is known as the ‘strike price’ and is agreed when you take out the stock options.

There are two types of options, calls and puts. 

  • Call option. Call options give you the right to buy the underlying asset at a predetermined date and price. 
  • Put option. Put options give you the right to sell the underlying asset at a predetermined date and price. 

Call and put options have expiration dates, which refers to the date the option must be exercised. If it is not exercised by the predetermined date, it becomes worthless. 

How should I choose an options trading platform?

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When it comes to choosing a trading platform, there’s a lot to consider if you want to find the best options broker. You can check out our comprehensive options trading platforms reviews above to help you find a broker that suits your needs. You can also use the tips below to find the best options trading broker. 

1. Use a platform that has a wide range of options contracts

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There are lots of different types of options contract, with a variety of expiration dates and strike prices. If you’re new to trading options, then you want to be able to experiment with different contracts until you get a feel for what suits you. Advanced options traders, on the other hand, may already know what they like. Either way, it’s important to pick an options broker that offers what you want to trade.

The longer the time period between now and the expiration date, the more uncertainty and volatility involved. You may have to accept a higher strike price or contract fee, and there’s a higher risk of losing money.

2. Make sure you understand the options trading fees and commissions

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Trading options can be expensive because the fees and commissions can quickly add up. To keep costs down, look to use low commission options trading brokers. These are services that charge a low contract fee per option.

Some award-winning options brokers are completely commission free, and may be worth considering. However, the trade off is often a larger ‘spread’, the difference between the buy and sell price of an asset.

3. Consider the platform’s user interface

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An online broker platform that’s difficult to use can lead to frustration and mistakes. This is particularly true for option trading, which is a little harder to get your head around to begin with. Sign up for a free demo to test out any options trading account and explore the interface or app before you deposit any money.

Any retail options trading platform should be easy to navigate and understand, but also consider any tools and features you might want to use in the future. Does the service offer all the markets you want to invest in? Do you understand the fee structure? Are their discounts available for high volume traders?

4. Look for educational resources

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It can take some time to fully understand options and how to use them. If you’re a novice options trader than it’s important to choose an online broker that provides beginner-friendly material, like explainers, walkthroughs, and video tutorials.

Even if you sign up for a binary options trading broker with plenty of educational materials, we highly recommend that you start out with a demo account. A demo account is a way to practice options trading using virtual money, giving you real-time experience on live markets without risking any money.

5. Choose a platform with advanced options trading tools and features

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An options trading strategy requires up-to-date information on prices and market conditions. Make sure you use an options trading broker that provides real-time data and options prices to help you make informed decisions. 

Likewise, make sure the broker offers you the analysis tools you need. If you base your options trades on technical analysis, then ensure you can access charting tools with a range of technical indicators. If you tend to trade stocks on fundamental factors, then access to market research and the latest news is more important.

Should I use an options trading platform?

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Options trading can be helpful for some investors. However, it is important to remember that it can be a complex and risky activity, so it is best suited to those who understand the markets and risks involved well.

Investors looking to hedge their investments, earn income, or speculate on price changes may find options contracts a good choice. For beginners, options trading can be a confusing way to trade. Learning the different strategies available and working with a reputable options broker is important. 

Whether or not using an options trading platform is your best choice depends on your investing experience. If you’re an experienced investor with a solid understanding of the markets, then options are a good choice; however, beginners should look to use another type of derivative. 

What are the risks of using an options trading platform?

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There are lots of risks associated with using an options trading platform. Options are leveraged products, so you must ensure you have the margin available in your trading account to place your orders. The options market can also be volatile, which means the value of your contract can change rapidly. Liquidity issues can make it difficult to close our positions at desired prices. 

Here are a few pros and cons of using an options trading platform. 

Pros

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  • You can use options to hedge your positions
  • Options can be used to limit your risk while earning returns
  • There are options contracts for a wide range of financial markets

Cons

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What are the fees for using an options trading broker?

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The fees for options trading can vary depending on the platform you use. Some common fees include commissions on trades, account maintenance charges, option exercise and assignment fees. Some advanced options platforms also charge for specific data feeds and real-time market information. 

Methodology: How did we choose the best options trading platforms?

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Helping people make better financial decisions is at the heart of our mission at Invezz. 

We periodically test more than 63 stock trading platforms to provide our users with clear, accessible guidance on the investing options available. All testing is carried out by our panel of stock market experts, analysts, and active traders who sign up to each broker, conduct research, and score each service.

Our tests are designed to find stock brokerages that offer a beginner-friendly, secure investing experience at a fair price. To supplement our practical testing and experience, we research each trading platform to gather any further relevant information. We read online customer reviews, app reviews on the Play Store and App Store, and conduct user surveys to get feedback from real people about what works, and what doesn’t.

Each stock broker is awarded a final score based on 130+ data points across 8 ranking categories: cost, reliability, user experience, deposit & withdrawals, investing options, range of products/markets, research & analysis tools, and the availability of educational & learning resources.

We work closely with individual brands to ensure all factual information displayed here is accurate. All data is then fact-checked by an independent reviewer. You can learn more about our expert panel and how we test, rate, and review platforms in our review process.

Choose an options broker

FAQs

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Which platform is best for options trading?
Which is the best options trading platform in the UK?
Can I trade options in the UK?
Does Warren Buffet use options trading?
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Do you need 25k to trade options?
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Risk disclaimer
Prash Raval
Financial Writer
Prash is a financial writer for Invezz covering FX, the stock market and investing. For over a decade he has traded spot FX full time while... read more.