eOption vs E*TRADE (2026): Best for Options Trading?
eOption and E*TRADE both support multi-leg options trading, but eOption emphasizes deep-discount contract pricing while E*TRADE combines capable derivatives tools with broader research, retirement, and investing services.
Sponsored Placement Available
Sponsor this comparison — reach traders researching brokers
eOption is compelling for experienced options traders whose order sizes make its $1.99 base fee and ten-cent contracts economical. Beginners and investors wanting rich research or cash management may prefer a larger full-service platform.
E*Trade is a rock-solid choice for active options traders who want institutional research backing and a tiered pricing model that rewards volume. Power E*Trade is genuinely powerful — it's not on the level of thinkorswim or Tastytrade for pure options analytics, but the Morgan Stanley research integration and managed portfolio options make it a uniquely well-rounded platform.
Side-by-Side Comparison
How we review: Our team opens real accounts and tests every platform hands-on. We evaluate on commissions, tools, and execution — never influenced by affiliate relationships. Editorial policy →
| Feature | eOption | E*Trade |
|---|---|---|
| Our Rating | 3.9 | 4.6 |
| Commissions | $1.99 + $0.10/contract | $0.65/contract |
| Min. Deposit | $0 for cash accounts | $0 |
| Options Trading | Yes | Yes |
| Free to Close Options | No | No |
| Paper Trading | — | Yes |
| Account Types | Individual, Joint, Traditional IRA | Individual, IRA, Roth IRA |
| Regulated | FINRA / SIPC | FINRA / SIPC |
eOption — Full Review
eOption specializes in listed options while also supporting stocks, ETFs, mutual funds, bonds, and fixed income. Online options orders cost $1.99 plus $0.10 per contract, which can be attractive for multi-contract trades but less efficient for single-contract orders. The broker supports individual, joint, retirement, custodial, trust, and business accounts, with no minimum required to open a cash account.
E*Trade — Full Review
E*Trade's journey from early online brokerage pioneer to Morgan Stanley subsidiary has given it a unique position in the market. The Power E*Trade platform is the centerpiece for active traders — it offers a dedicated options trading interface with real-time streaming chains, advanced Greeks analysis, strategy scanners that filter by probability, risk/reward, and expected return, and an intuitive strategy builder for multi-leg positions. The options chain display is highly customizable, letting traders view implied volatility, open interest, volume, and Greeks side by side. Paper trading is available for strategy testing without capital risk, and the education center offers structured learning paths from beginner through advanced options concepts. Morgan Stanley's acquisition in 2020 brought significant enhancements: E*Trade clients now have access to Morgan Stanley research reports, market commentary from the firm's global strategy team, and integrated financial planning tools. The tiered commission structure is a meaningful differentiator — at $0.50 per contract after 30 trades per quarter, active traders pay less than the industry-standard $0.65. Account types span the full range: individual taxable accounts, Traditional and Roth IRAs, trust accounts, and managed portfolios with professional oversight. The managed portfolio offering starts at a $500 minimum for the core tier, making professional management accessible. E*Trade's mobile app mirrors much of Power E*Trade's functionality, including options chain viewing, order entry for multi-leg strategies, and real-time P&L tracking. While the main E*Trade website can feel dated compared to newer fintech platforms, Power E*Trade is modern and responsive. Customer service is available by phone, chat, and in person at Morgan Stanley branches — a notable advantage over online-only brokers.
The Verdict: Which Should You Choose?
Choose eOption if you regularly place multi-contract options orders and prioritize very low per-contract pricing over premium research, education, and cash-management features.
Choose E*TRADE if you want stronger platforms, research, retirement accounts, and a full-service investing experience that justifies a higher standard contract fee.