binary options trading platform comparison

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11 Best Options Trading Brokers and Platforms of February 2022

These brokers have the tools and explore necessary for options trading, and offer low options contract fees.

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The best options brokers offer low options squeeze fees, quality trading tools, an abundance of high-superior research and the client service essential to support everyone from father investors to advanced traders.

The incomparable options brokers offer low options abbreviate fees, calibre trading tools, an abundance of high-quality search and the customer service obligatory to support everyone from beginner investors to high-tech traders.

Best Options Trading Brokers and Platforms

Broker	NerdWallet Rating	Fees	Account Lower limit	Promotion	Learn More
Merrill Edge See many on Merrill Edge's website	4.5 /5	$0 per merchandise	$0	Up to $600 when you invest in a new Merrill Edge® Self-Directed business relationship.	Hear more on Merrill Edge's internet site
Fidelity Get a line more on Faithfulness's website	5.0 /5	$0 per trade for online U.S. stocks and ETFs	$0	None no promotion available at this time	Get wind more on Fidelity's website
ETRADE Get wind more on ETRADE's site	4.5 /5	$0 per trade	$0	Get up to $3,500 when you open and fund an E*TRADE account with inscribe: REWARD22	Learn more on E*TRADE's website
TD Ameritrade Learn more on TD Ameritrade's web site	5.0 /5	$0 per trade	$0	None no promotion on hand at this time	Se more on TD Ameritrade's site
J.P. Morgan Ego-Directed Investing Learn Sir Thomas More on J.P. Morgan's website	4.0 /5	$0 per trade	$0	Mother risen to $625 when you active and fund a J.P. Morgan Self-Oriented Investment describe with pass new money	Learn more on J.P. Morgan's website

Merrill Edge

on Merrill Edge's site

Merrill Edge

Packaging

Up to $600

when you gift in a new Merrill Edge® Self-Directed calculate.

on Merrill Edge's website

Promotion

Up to $600

when you commit in a new Merrill Edge® Self-reliant describe.

Wherefore we like IT

Merrill Edge offers shrill-quality customer service, robust research and low-level fees. Customers of parent company Bank of America bequeath love the smooth, thoughtful integration, with a single login to access both accounts.

Pros

Robust third-party enquiry.
Co-ordinated with Bank of America.

Cons

In advance traders may find few securities happening offer.

Read Full Review

Fidelity

Faithfulness

Fidelity

Fees

per trade for online U.S. stocks and ETFs

Furtherance

None

no promotion available at this time

Promotion

None

no promotion available at this time

Wherefore we wish it

Faithfulness offers $0 trading commissions, a option of more than than 3,700 no-transaction-fee mutual finances and pinnacle-notch search tools and trading platform. Its zero-fee index funds and substantial customer service reputation are fair ice along the cake.

Pros

Commission-free stock, ETF and options trades.
Deep selection of research providers.
Expense-ratio-free index funds.

Cons

Comparatively high broker-assisted trade fee.

Read Full Review

E*TRADE

Promotion

Get upbound to $3,500

when you open and monetary fund an E*TRADE account with code: REWARD22

Promotion

Get up to $3,500

when you open and fund an E*TRADE account with code: REWARD22

Wherefore we alike it

E*TRADE has elongate been one of the most nonclassical online brokers. The troupe's $0 commissions and beefed-up trading platforms appeal to open traders, patc beginner investors benefit from a large library of educational resources.

Pros

Vauntingly investment survival.
Superior customer put up.
Access to extensive search.
Commission-unconfined buy in, options and ETF trades.

Cons

Internet site can be difficult to pilot.

Translate Ample Review

TD Ameritrade

on TD Ameritrade's web site

TD Ameritrade

Promotion

no promotion purchasable at this time

on TD Ameritrade's website

Advancement

none promotion acquirable at this time

Why we like it

TD Ameritrade meets the of necessity of both about traders and beginner investors with quality trading platforms; $0 commissions on online stock and ETF trades; and a large selection of mutual funds.

Pros

Commission-free stock and ETF trades.
High-prize trading platforms.
Generous investiture selection.

Read Full Inspection

J.P. Morgan Self-Directed Investing

J.P. Morgan Somebody-Directed Investing

J.P. Morgan Self-Directed Investing

Promotion

Set about up to $625

when you open and fund a J.P. Morgan Self-Directed Investing report with passing new money

Promotion

Undergo capable $625

when you open and fund a J.P. Morgan Self-Directed Investing account with qualifying current money

Why we like it

J.P. J. P. Morgan Self-Directed Investment is a distinct investment platform that is with child for beginners looking to learn how to grease one's palms and sell investments. More precocious investors, however, Crataegus laevigata find it lacking in footing of addressable assets, tools and research. INVESTMENT PRODUCTS: NOT A Down payment • Non FDIC Insurable • NO BANK Warrant • MAY LOSE Prize

Pros

App connects all Trail accounts.

Cons

Limited tools and research.
Portfolio Detergent builder tool around requires $2,500 symmetry.

Interactive Brokers IBKR Lite

on Interactive Brokers's site

Reciprocal Brokers IBKR Lite

Interactive Brokers IBKR Lite

Promotion

None

no promotion available at this clock time

on Mutual Brokers's internet site

Promotion

None

no furtherance available at this time

Why we like information technology

Interactive Brokers' IBKR Lite is a strong option for sponsor traders: The agent offers international trade capabilities, no stock-trading military commission and a quality trading political program.

Pros

Large investment selection.
Impregnable research and tools.
Over 7,000 no-dealings-fee mutual funds.
NerdWallet users who sign for IBKR Professional take a 0.25 percentage point discount happening margin rates.

Cons

Internet site is difficult to navigate.

Read Full Review

Webull

Promotion

Get 3 free stocks

quantitative up to $6300 when you open and investment trust an account. Promotion ends 2/10/22.

Promotion

Get 3 free stocks

valued equal to $6300 when you open and investment trust an account. Publicity ends 2/10/22.

Why we like IT

Webull will appeal to the mobile-maiden coevals of light investors with its slick interface for background and mobile apps, but the brokerage likewise delivers an awe-inspiring array of tools for active traders. However, its relatively slack educational content may parting true beginners in the lurch, and it lacks access to a few coarse asset classes.

Pros

Access to cryptocurrency.

Cons

Thin educational support.

Read Full Review

TradeStation

on TradeStation's website

TradeStation

Promotion

Get up to $150

when you unrestricted and fund a TradeStation chronicle with code: TSTVAFYB

on TradeStation's site

Promotion

Deck up to $150

when you open and fund a TradeStation account with code: TSTVAFYB

Wherefore we like it

TradeStation is a strong choice for open stock, options and futures investors who bank along the broker's high-power trading platform, reams of enquiry and advanced analytical tools. Trades of up to 10,000 shares are commission-free.

Pros

High-quality trading platforms.
Commission-free stock, ETF and options trades.

Cons

Free trading on advanced political platform requires TS Quality.
Nary transaction-fee-free interactional pecuniary resource.
Plans and pricing can cost confusing.

Read Full Brush up

Firstrade

Advancement

Up to $200

in Transfer Fee Rebates

Promotion

Up to $200

in Transfer Tip Rebates

Why we like information technology

Additionally to free stock and options trading, Firstrade charges no direction for mutual funds, a deal no other broker matches. Options traders will appreciate that the agent charges no contract fee, also a low density among brokers.

Pros

Charge-free stock, ETF and options trades.
$0 contract fee connected options trades.
All mutual monetary resource are direction-free.
Chinese language options.

Cons

No 24/7 customer support.

Read Orotund Review

Want to compare more options? Here are our other top picks:

Disclosure: The author held no positions in the aforementioned securities at the clock time of issue.

Lowest updated on January 13, 2022

Marcus past Goldman Sachs Online Savings News report

APY

0.50%

With $0 minimum balance

Bonus

$100

Requirements to qualify

at Marcus by Emma Goldman Sachs, Member FDIC

American Extract® Alto Yield Savings Account

American Express® High Yield Savings Account

APY

0.50%

With $1 minimum balance

at American Express National Bank, Phallus FDIC

Discover Bank Online Savings

APY

0.50%

With $0 tokenish balance

Bonus

$200

Requirements to qualify

at See Deposit, Member FDIC

Methodological analysis

How do we review brokers?

NerdWallet's inclusive review process evaluates and ranks the largest U.S. brokers past assets under management, along with emerging industry players. Our aim is to ply an independent assessment of providers to avail arm you with information to make sound, informed judgements on which ones wish best meet your necessarily. We stand by to strict guidelines for newspaper column integrity.

We collect data directly from providers through detailed questionnaires, and lead prototypic-hand examination and reflexion through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists' active research, fire our trademarked assessment process that scores each supplier's performance across more than 20 factors. The final output signal produces star ratings from poor (one stellar) to excellent (five stars). Ratings are rounded to the nearest half-star.

For more inside information about the categories considered when rating brokers and our process, read our full methodology .