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Best options trading platforms of 2024

SoFi, Robinhood and Tastytrade have some of the best tools, fees and features for trading options.

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By

Matt Miczulski

Edited by

Holly Jennings

Updated

Fact checked

Whether you’re an experienced trader or just starting, the right options trading platform can significantly impact your trading success.

The best options trading platforms offer powerful tools, competitive fees and a user-friendly interface to help you navigate the complexities of options trading.

Here’s a look at some of the top platforms for options trading in 2024.

10 best options trading platforms of 2024

Why trust Finder

  • 15+ online brokers reviewed and rated by our team of experts
  • Evaluated under our unbiased rating system covering eight categories
  • 20+ years of combined experience covering financial topics

We're big on editorial independence. That means our content, reviews and ratings are fair, accurate and trustworthy. We don't let advertisers or partners sway our opinions. Our financial experts put in the hard work, spending hours researching and analyzing hundreds of products based on data-driven methodologies to find the best accounts and providers for you. Explore our editorial guidelines to see how we work.

Robinhood

4.4
★★★★★

Finder score

Go to site
Minimum deposit$0
Signup bonusGet a free stock

Tastytrade

4.4
★★★★★

Finder score

Go to site Read review
Stock trade fee$0
Minimum deposit$0
Signup bonusGet $50-$5,000

SoFi®

4.1
★★★★★

Finder score

Read review
Stock trade fee$0
Minimum deposit$0
Signup bonusGet up to $1,000 in stock

Partner terms and conditions
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE

Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees.

Investing in alternative investments and/or strategies may not be suitable for all investors and involves unique risks, including the risk of loss. An investor should consider their individual circumstances and any investment information, such as a prospectus, prior to investing. Interval Funds are illiquid instruments, the ability to trade on your timeline may be restricted. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA(www.finra.org) /SIPC(www.sipc.org).

There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event.

Options involve risks, including substantial risk of loss and the possibility an investor may lose the entire investment Before trading options please review the Characteristics and Risks of Standardized Options

Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser.

Utilizing a margin loan is generally considered more appropriate for experienced investors as there are additional costs and risks associated. It is possible to lose more than your initial investment when using margin. Please see https://www.sofi.com/wealth/assets/documents/brokerage-margin-disclosure-statement.pdf for detailed disclosure information

Probability of Member receiving $1,000 is a probability of 0.028%

Terms and conditions apply. Roll over a minimum of $20K to receive the 1% match offer. Matches on contributions are made up to the annual limits.

For full promotion terms please visit: https://www.sofi.com/acatoffer. SoFi does not accept cryptocurrencies and has limitations on some mutual funds and OTC stocks. Brokerage and Active Investing Products offered by SoFi Securities, LLC, Member FINRA/SIPC.

Interactive Brokers

4.6
★★★★★

Finder score

Go to site Read review
Stock trade fee$0
Minimum deposit$0
Signup bonusN/A

eToro

4
★★★★★

Finder score

Copy crypto picks from top traders
Go to site Read review
Stock trade fee$0
Minimum deposit$0
Signup bonusFINDER EXCLUSIVE: Get a guaranteed $15 bonus and $10 in free crypto

Webull

4.6
★★★★★

Finder score

Earn up to 40 fractional shares and an extra 2% APY for 30 days when you open an account and make an initial deposit of the qualified amount. T&C apply.
Read review
Stock trade fee$0
Minimum deposit$0
Signup bonusEarn up to 40 fractional shares and an extra 2% APY for 30 days

E*TRADE from Morgan Stanley

4.3
★★★★★

Finder score

Read review
Stock trade fee$0
Minimum deposit$0
Signup bonusGet up to $1,000
terms apply

Moomoo

4.2
★★★★★

Finder score

Get 8.1% APY for 3 months on idle cash and up to 15 free stocks with qualified deposits. T&Cs apply.
Stock trade fee$0
Minimum deposit$0
Signup bonusGet up to 15 free stocks

Charles Schwab

4.5
★★★★★

Finder score

Read review
Stock trade fee$0
Minimum deposit$0
Signup bonusGet a $101 bonus

Fidelity Investments

4.6
★★★★★

Finder score

Read review
Stock trade fee$0
Minimum deposit$0
Signup bonusN/A

Paid non-client promotion. Finder does not invest money with providers on this page. If a brand is a referral partner, we're paid when you click or tap through to, open an account with or provide your contact information to the provider. Partnerships are not a recommendation for you to invest with any one company. Learn more about how we make money.

Finder is not an advisor or brokerage service. Information on this page is for educational purposes only and not a recommendation to invest with any one company, trade specific stocks or fund specific investments. All editorial opinions are our own.

Methodology: How we choose the best brokerage accounts

Finder’s investments experts reviewed 19 brokers available on the market to narrow down the best brokerage accounts for trading options.

We analyzed each platform based on 147 key metrics we collected directly from brokers and assessed each provider’s performance based on eight different categories, weighing each metric based on the expertise and insights of Finder’s investment experts. We then scored and ranked each provider to determine the best options trading platforms.

We update our best picks as products change, disappear or emerge in the market. We also regularly review and revise our selections to ensure our best provider lists reflect the most competitive available.

How we weigh the overall rating

CategoryWeighting
Investment options15%
Trading platforms and technology20%
Trading costs30%
Account fees5%
Account types and minimums5%
Customer support10%
Mobile app5%
Features and amenities10%

What to look for when choosing an options trading platform

Finder’s picks for the best brokerage accounts for options trading are meant to provide a starting point for finding the right broker for your investing style and goals.

Consider the following factors when comparing your options:

  • Fees. From trading fees to miscellaneous fees, it’s important to understand the cost of trading and investing. Consider which investment products you plan to trade and the fees that apply, but also be mindful of any back-end fees such as inactivity or transfer fees that can also eat into your profit.
  • Tradable assets. Not every broker offers the same investment options. Stocks, options and exchange-traded funds (ETFs) are standard, but some brokers will offer mutual funds, bonds, futures, forex, crypto and more.
  • Account types. What other account types, in addition to a brokerage account, does the broker offer? If you’re interested in saving for retirement, compare brokers that offer IRAs. Consider your other investment needs and how important it is to maintain all your accounts under one roof.
  • Research and data tools. In-house research and tools simplify investing, as you don’t have to venture elsewhere to make an informed decision about an investment. extensive research and analysis toolsIf you’re a passive index investor, may not matter that much. Active stock pickers may feel otherwise.
  • Mobile app reviews. Mobile trading is more popular than ever, allowing you to trade and invest from anywhere. Check out what current or previous customers say about the platform’s functionality.
  • Signup bonus. While it may not make sense to choose a broker solely based on whether it offers a signup bonus, a new customer incentive such as a free stock may be enough to help you choose one over another if all else is equal.

Options trading levels

Options trading is categorized into beginner, intermediate and advanced strategies. Think of them as different levels, each allowing for progressively more complex strategies and transactions.

Options trading levels, also known as permissions, can vary by broker, but here’s an overview of what those levels might involve in terms of complexity:

  • Level 1. The most basic level, allowing traders to buy and sell covered calls and protective puts. Covered calls are where you sell call options on stocks you own. Protective puts involve buying put options on an asset you own. This level is generally for beginners with limited trading experience, as it involves relatively low risk because the options are backed by owned shares.
  • Level 2. Includes all Level 1 strategies, plus the ability to purchase options contracts, such as calls and puts. Risk is limited to the price paid for the contract.
  • Level 3. Includes all Level 1 and 2 strategies, plus more complex strategies like straddles and debit spreads, which involve multiple options contracts. This level requires more capital and the use of a margin account.
  • Level 4. Includes Level 1, 2 and 3 strategies, plus naked options trading, where the seller does not own the underlying asset. This level carries the potential for unlimited losses if the market moves against the seller, but it also offers the possibility of higher returns, as traders can sell options without hedging.
  • Level 5. The most advanced and riskiest level, Level 5 permits uncovered writing of index options and straddles.(1)

Compare and find the broker that's right for you

Match your experience level with your trading and investing goals to find the right broker for you.
If you're a And want to Consider this
Beginner investor Do most or all of your trading on your mobile device Best stock trading apps
Beginner investor Trade and invest with as few fees as possible Best discount stock brokers
Beginner investor Outsource portfolio management automatically and at a low cost Best robo-advisors
Beginner investor Gain exposure to multiple assets like stocks, bonds or gold through a single fund Best ETF brokers
Experienced investor Get an overall idea of providers on the market and what they're best for Best brokerage accounts
Experienced investor Invest internationally in stocks, ETFs and other assets Best international stock brokers
Retirement saver of any experience level Save for retirement with upfront tax benefits Best (traditional) IRA
Retirement saver of any experience level Save for retirement and enjoy tax-free withdrawals Best Roth IRA
Investor of any experience level Diversify with low-cost index funds Best brokerage accounts for index funds 2024
Holly Jennings's headshot
To make sure you get accurate and helpful information, this guide has been edited by Holly Jennings as part of our fact-checking process.
Matt Miczulski's headshot
Written by

Editor, Investments

Matt Miczulski is an investments editor at Finder. With over 450 bylines, Matt dissects and reviews brokers and investing platforms to expose perks and pain points, explores investment products and concepts and covers market news, making investing more accessible and helping readers to make informed financial decisions. Before joining Finder in 2021, Matt covered everything from finance news and banking to debt and travel for FinanceBuzz. His expertise and analysis on investing and other financial topics has been featured on CBS, MSN, Best Company and Consolidated Credit, among others. Matt holds a BA in history from William Paterson University. See full bio

Matt's expertise
Matt has written 207 Finder guides across topics including:
  • Trading and investing
  • Broker and trading platform reviews
  • Money management
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