Options Trading Broker – If you’re an institution, click below to learn more about our offerings for RIAs, hedge funds, compliance officers and more.
A powerful, award-winning* trading platform and tools available on desktop, mobile and web. View market data, positions and trade multiple asset classes and products side by side from a single screen.
Options Trading Broker
Stay informed about your portfolio and markets wherever you are. IBKR GlobalTrader, IBKR Mobile App and IMPACT App contain everything you need to trade and manage options on the go.
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Use our writing/rollover options tool to generate additional income. The writing tool scans your stock positions and calculates the number of covered options to write on the uncovered stock. You can use the rolling tool to roll over an option that is about to expire into a similar option with a later expiration date.
OptionTrader displays market data for underlying assets, allows you to create and manage option orders, including combination orders, and provides the most complete view of option chains available, all on one screen.
Manipulate key options price metrics, including price, time and implied volatility, and view the impact on premiums.
Option Portfolio continuously and efficiently extracts market data for low-cost options strategies to create portfolios tailored to user-defined objectives for Greek risk dimensions (Delta, Gamma, Theta and Vega).
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Create multi-step combo orders on the fly and access predefined combos (eg Straddle, Strangle, Butterfly and Condor). Once you indicate the first shot you want, the tool will adjust to select the remaining legs.
Create potentially profitable combinations of stocks and options based on stock and ETF price predictions, market volatility and other market variables.
Redefine the price and volatility outlook for the underlying stock or ETF and identify potentially profitable options strategies based on that outlook.
After getting a snapshot of the historical and future numbers for the volatility of a stock and other stocks, compare and contrast the options market’s view of the stock’s volatility in the coming months.
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Clients can choose from four options trading authority levels to find options that more closely match their options trading strategy.
All levels 1 and 2 include optional strategies with limited maximum potential losses such as short puts, short puts, long puts or unbalanced butterflies.
Increase your market knowledge and learn about investing with 65+ free online courses on trading, stocks, options, futures, cryptocurrencies, technical analysis and more. By clicking “Accept all cookies” you agree to the storage of cookies on your device. To improve site navigation, to analyze site usage and to assist with our marketing efforts.
Current market conditions make options trading more attractive than ever. Tighter monetary policies have changed the situation for all market participants, with stocks often falling faster than rising. This is a good time to look for a broker that specializes in options trading. Options give investors the right, but not the obligation, to buy or sell an asset at a set price on or before a certain date.
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We’ve researched and analyzed the best options trading platforms to help investors determine which platform offers the best combination of education, speed, cost, tools, research and more to suit their needs.
We chose Delicioustrade (formerly Deliciousworks) as our top overall pick because of its competitive options trading fees, excellent options trading tools, and excellent options-focused education and live video content.
Tastytrade was created by the same people who created and developed TD Ameritrade’s excellent Thinkorswim® app. The founders were inspired to create a platform that would give self-directed retailers access to sophisticated markets and analytical tools. Tastytrade is designed for active investors/traders and only offers trading stocks, ETFs, options and cryptocurrencies.
Tastytrade has very competitive fees for trading options. We charge $1 per contract to open each segment of an options trade, but fees are capped at $10 per segment for all options trades, regardless of trade size. There is also a liquidation fee of $0.10 per contract. Unlike most brokers, Delicioustrade does not charge commissions for closing positions, which makes our options trading commissions very competitive.
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For example, opening and closing a vertical call spread of 50 lots (a total of 200 contracts traded to open and close the position) costs only $40 on Delicioustrade. Up to $10 ($20) over two stages plus $0.10 liquidation fee. Fee for 200 contracts ($20). For example, the same trade on E*TRADE would cost $100 for a higher volume/frequency trader, using a commission of $0.50 per contract. The same vertical spread trade for 100 contracts would incur a fee of $60 on Delicioustrade ($20 for 2 segments and a liquidation fee of $40) and $200 on E*TRADE. Tastytrade is competitively priced for all options traders, but even more so for high volume and high frequency traders.
Along with these low fees, Delicioustrade doesn’t skimp on option analysis, platform workflow or trade entry. Tastytrade’s powerful options analysis includes fat for specific multi-stage strategies, profitability charts for option positions, and simple order entry that automatically configures your trading structure when you intuitively select a specific option strategy, such as a vertical spread or butterfly. Drop down menu. Here you can easily change the expiration date and exercise price of your chosen options strategy. The platform also provides odds ratios for the potential returns of various options strategies.
Tastytrade’s desktop and mobile platforms are designed to look and feel very similar to each other for consistency, but some adjustments will need to be made to account for the smaller screen size of the mobile app. Delicioustrade offers live quotes, but no fundamental research or live news. Tastytrade offers a Follow Traders feature that allows users to follow the trades of domestic celebrities. Tastytrade’s customer service is well received by customers for prompt and competent support, with a Trustpilot rating of 4.7/Excellent from over 300 reviewers.
We selected TD Ameritrade to win the mobile category based on the power of superior options analysis, research facilities and trading tools provided by the Thinkorswim® mobile app.
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TD Ameritrade is this year’s new winner in the Best Mobile Options Trader category, beating out last year’s winner, Delicioustrade. This has been a very fierce competition between the Delicioustrade and Thinkorswim® platforms in recent years, but Delicioustrade’s lack of news and fundamental research has allowed TD Ameritrade to come out on top.
TD Ameritrade is a full-service online broker known for its excellent educational resources that provide clients with the basics of investing and more. The company was founded in 1975 and was acquired by Charles Schwab in 2019. TD Ameritrade also offers a wide range of asset classes and its diverse platform will meet the needs of all investors, whether they are active or passive traders. Options fees are higher than other online brokers that focus more on stock and options trading, but having access to a full set of financial products on one platform can be worth it.
Thinkorswim® desktop applications are customizable and typically have more features than standard web and mobile platforms. That said, TD Ameritrade’s thinkorswim® mobile app makes a decent attempt at replicating its powerful desktop version. Thinkorswim® Mobile has watchlists, real-time data streaming and supports charting and trading directly on the charts. Although it does not support trendline plotting, the charting is much better with the Thinkorswim® mobile app than with the standard mobile app. As a result, options traders will use Thinkorswim® Mobile as their primary mobile experience.
Like Thinkorswim® desktop, the mobile version allows users to switch options with multiple legs. Traders can use TD Ameritrade’s order routing technology or send orders to specific exchanges. Traders can also test their trading strategies and set orders to be executed automatically when certain criteria are met.
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Like E*TRADE, TD Ameritrade is not specifically an options platform. It offers a wider range of services and comes with additional features, including robust customer service options, industry-leading educational resources and tools to go beyond transaction analysis to assess your overall financial situation. However, within the broader product line, thinkorswim® Mobile is a great experience for options traders who want to access the markets on the go.
Interactive Brokers (IBKR) offers low options commissions, continuous improvements to its already excellent trading and analysis tools, and a long-standing commitment to efficient order execution, making it a top choice for advanced options traders.
Interactive Brokers is this year’s new winner in the Advanced Options Trader category, succeeding last year’s winner Delicioustrade. This is because Delicioustrade does not yet offer streaming news or fundamental research, and IBKR continues its efforts to build a top-quality platform.
The company was founded in 1978 by its current president, Thomas Peterffy, under the name T.P. &Co. The company created the first handheld computers used in the trading market and began selling its services to the public in 1993 when Interactive Brokers Inc. was incorporated as a US broker-dealer. At the time, IBKR produced almost all securities, making it a solid choice for sophisticated traders.
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