Best Options Trading Brokers 2026

Choosing the right options broker can save you hundreds per month in commissions and give you analytics that make the difference between profitable and losing trades. In 2026, the best options brokers are dramatically better than they were five years ago — lower commissions, better tools, and more education. Here's what actually matters when choosing an options platform, and which brokers deliver it.

Quick Comparison

Broker	Rating	Commissions	Min. Deposit	Best For
Tastytrade	4.8★	$1/contract	$0	Active options traders, covered call sel...	Open Tastytrade Account →
Interactive Brokers	4.6★	$0.65/contract	$0	Professional traders, global market acce...	Open IBKR Account →
Webull	4.5★	Free	$0	Active traders wanting free commissions,...	Get Free Stocks on Webull →
Charles Schwab	4.4★	$0.65/contract	$0	Full banking + investing integration, th...	Open Schwab Account →

Detailed Reviews

Tastytrade Options Trading

The options trader's home — built by traders, for traders

4.8 ★★★★½

Tastytrade is the platform built specifically for options and futures traders. Founded by the creators of thinkorswim, it strips away everything you don't need and doubles down on what options traders actually use — real-time P&L, probability analysis, and a community of active traders.

Commissions$1/contract to open, free to close

Min Deposit$0

✅ Pros

+ Purpose-built for options and futures trading

+ Free to close positions (huge for active traders)

+ Superior options analytics and P&L visualization

+ Strong educational content for all skill levels

⚠️ Cons

− Not ideal for long-term buy-and-hold investors

− No mutual funds or fractional shares

− Mobile app less polished than desktop

− Limited international stock access

Interactive Brokers Professional Trading

The professional's broker — global markets, lowest margin rates

4.6 ★★★★½

Interactive Brokers is the global standard for professional and institutional trading. With access to 150+ markets, the lowest margin rates anywhere, and the most powerful options analytics available, it's the choice of serious traders worldwide.

CommissionsIBKR Lite: free. IBKR Pro: $0.65/contract

Min Deposit$0

✅ Pros

+ Access to 150+ global markets and exchanges

+ Industry-lowest margin rates (5.33% for $100K+)

+ Most comprehensive options strategy tools available

+ Fractional shares on thousands of US stocks

⚠️ Cons

− Interface is complex and intimidating for beginners

− IBKR Pro commissions are confusing to understand

− Customer service is slow for retail accounts

− Minimum activity fees can apply

Webull General Trading

Commission-free trading with professional-grade tools

4.5 ★★★★½

Webull offers truly commission-free trading across stocks, ETFs, and options — with a professional-grade charting platform that rivals tools costing hundreds per month. It's the best free alternative to paid platforms.

CommissionsCommission-free stocks, ETFs, options

Min Deposit$0

✅ Pros

+ Fully commission-free including options

+ Advanced charting with 50+ technical indicators

+ Extended hours trading 4am–8pm ET

+ Paper trading mode for practice

⚠️ Cons

− No mutual funds or OTC stocks

− Customer support can be slow

− No automated investing or robo-advisor

− Options analysis tools lag behind Tastytrade

Charles Schwab General Trading

The complete broker — now with thinkorswim included

4.4 ★★★★☆

After acquiring TD Ameritrade, Schwab now offers the legendary thinkorswim platform alongside its own comprehensive banking and investing services — making it the most complete financial services provider for investors.

CommissionsCommission-free stocks and ETFs. $0.65/options contract

Min Deposit$0

✅ Pros

+ thinkorswim — one of the best trading platforms ever built

+ Schwab Intelligent Portfolios (robo-advisor) free at $5K

+ Best banking integration of any broker

+ No account minimums, strong branch network

⚠️ Cons

− TD Ameritrade merger created temporary confusion

− Schwab.com interface less intuitive than thinkorswim

− Commission-free ETF list excludes some popular funds

− Website feels corporate and dated

Frequently Asked Questions

What is the best broker for selling covered calls?

Tastytrade is the top choice for covered call sellers. The free-to-close pricing means you pay $1/contract to open a covered call position and nothing to close it — saving significantly vs. paying $0.65 both ways on every roll. The analytics also make it easy to track your premium income and manage positions.

What broker has the lowest options commissions?

Webull charges zero commissions including zero per-contract fees — making it the lowest cost for high-volume options traders. Tastytrade's $1 to open / free to close model is cheaper for positions you hold to expiration or close at a loss. For most active traders, Tastytrade's free-to-close wins.

Can I trade options in an IRA?

Yes — most brokers allow options trading in IRAs, but with restrictions. Covered calls and cash-secured puts are universally allowed. Spreads require approval and not all brokers offer them in IRAs. Tastytrade, Schwab, and Fidelity all have strong IRA options programs.