The Best Options Trading Platforms in 2026
One charges $1 to open and $0 to close. Two charge $0.65 each way. One prints $0 commission and still takes $0.04 a contract.
tastytrade is $1 per equity or ETF contract to open, $10 max per leg, $0 to close. Interactive Brokers Lite is $0.65 per US contract on the first 1,000 in a month, $1 minimum per order; Pro tiered drops to $0.15 at 100,001+ contracts. Charles Schwab (thinkorswim) is $0.65 per contract each way, platform included. E*TRADE is $0.65, or $0.50 if you place 30+ stock, ETF or options trades in a quarter. Robinhood is $0 commission on equity and ETF options plus a combined $0.04 ORF/OCC fee per contract; index options add $0.50, or $0.35 with Gold. This is a broker comparison, not financial advice.
Key facts5 tools compared: tastytrade, Interactive Brokers, Charles Schwab, E*TRADE, Robinhood
- 5 tools compared: tastytrade, Interactive Brokers, Charles Schwab, E*TRADE, Robinhood
- Interactive Brokers (best for: High-volume or multi-market accounts that will hit the Pro tiers, or that need the lowest published margin rates): From $0.65/US contract on Lite (first 1,000 contracts a month), $1.00 order minimum; no account minimum.
- Charles Schwab (best for: People who want thinkorswim and a full-service brokerage in one account, and will pay $0.65 a side for that): From $0.65/contract each way; $0 on stocks and ETFs; thinkorswim included, no account minimum.
- E*TRADE (best for: Active accounts that place 30 or more trades a quarter and want $0.50 per contract): From $0.65/contract at 0 to 29 trades a quarter, $0.50 at 30+; no published account minimum.
Options platforms look the same in a screenshot and five different products on a trade confirmation. tastytrade bills the open and not the close. Schwab and E*TRADE bill both sides at $0.65 unless E*TRADE's 30-trade quarter kicks in.
Interactive Brokers starts at $0.65 and only gets cheaper if the month is huge. Robinhood advertises $0 commission on stock and ETF options and still collects $0.04 a contract, then a separate contract fee on index products.
You are not choosing a chain of strikes.
You are choosing how a 10-lot is billed when you put it on and when you take it off. $0 commission is the homepage. The statement is the contract fee, the close, the index add-on and the exchange pass-throughs every broker still charges.
Top Picks
Based on features, real-world fit, and value for money.
| Tool | Pricing | Best for |
|---|---|---|
| tastytrade | From $1/contract to open, $0 to close, $10 max per stock or ETF leg; no account minimum, no platform subscription. | People who trade equity and ETF spreads often enough that the $10-per-leg cap and $0 close matter |
| Interactive Brokers | From $0.65/US contract on Lite (first 1,000 contracts a month), $1.00 order minimum; no account minimum. | High-volume or multi-market accounts that will hit the Pro tiers, or that need the lowest published margin rates |
| Charles Schwab | From $0.65/contract each way; $0 on stocks and ETFs; thinkorswim included, no account minimum. | People who want thinkorswim and a full-service brokerage in one account, and will pay $0.65 a side for that |
| E*TRADE | From $0.65/contract at 0 to 29 trades a quarter, $0.50 at 30+; no published account minimum. | Active accounts that place 30 or more trades a quarter and want $0.50 per contract |
| Robinhood | From $0 commission on stock and ETF options plus $0.04/contract; $0 to open. | Small equity and ETF options trades where $0.04 a contract is the whole broker fee |
Pricing read from each vendor's own published pricing page, checked Sep 2026. Every vendor here publishes a price.
Best for: People who trade equity and ETF spreads often enough that the $10-per-leg cap and $0 close matter
PricingFrom $1/contract to open, $0 to close, $10 max per stock or ETF leg; no account minimum, no platform subscription.
Best for: High-volume or multi-market accounts that will hit the Pro tiers, or that need the lowest published margin rates
PricingFrom $0.65/US contract on Lite (first 1,000 contracts a month), $1.00 order minimum; no account minimum.
Best for: People who want thinkorswim and a full-service brokerage in one account, and will pay $0.65 a side for that
PricingFrom $0.65/contract each way; $0 on stocks and ETFs; thinkorswim included, no account minimum.
Best for: Active accounts that place 30 or more trades a quarter and want $0.50 per contract
PricingFrom $0.65/contract at 0 to 29 trades a quarter, $0.50 at 30+; no published account minimum.
Best for: Small equity and ETF options trades where $0.04 a contract is the whole broker fee
PricingFrom $0 commission on stock and ETF options plus $0.04/contract; $0 to open.
What it is
An options platform is a broker plus an order ticket. The broker sets the per-contract commission, the account minimum, which strategies you are approved for and whether index or futures options even exist on the account.
The platform is the chain, the Greeks, the multi-leg builder and the paper-trade mode. A one-lot covered call and a 20-lot iron condor hit the same homepage and two different invoices.
Commission-free in 2026 usually means $0 on the stock or ETF.
Options still carry a per-contract fee, a close that may or may not match the open, and exchange, clearing and regulatory pass-throughs. A contract typically covers 100 shares. Approval is not automatic: cash-secured puts and defined-risk spreads are a different permission from uncovered calls.
Why it matters
The ranking flips with lot size. A 1-lot equity option, open and close: tastytrade $1 + $0 = $1. Schwab $0.65 + $0.65 = $1.30. E*TRADE standard is the same $1.30; preferred is $1.00. IBKR Lite is $0.65 each side with a $1.00 minimum per order, so a single contract is $1.00 each way.
Robinhood equity options are $0 commission plus $0.04 a side, about $0.08 before TAF on the sale.
A 10-lot on one equity leg: tastytrade hits the $10 cap on the open and $0 on the close. Schwab is $6.50 + $6.50 = $13.
E*TRADE preferred is $10. That is the comparison a finance operator can actually run. Index options (SPX, NDX, VIX) are a different rate card at every shop. Do not price those off the equity line.
Key features to look for
Pricing
All five brokers publish their options fees, and none require a custom quote. The cheapest equity entry is Robinhood, at $0 commission plus $0.04 per contract. tastytrade charges $1 to open and $0 to close, and a $10 cap stops the open fee from rising on large stock and ETF legs.
Schwab stays at $0.65 per contract on the open and the close. E*TRADE starts at the same $0.65 and drops to $0.50 after 30 trades in a quarter, and Interactive Brokers reaches $0.15 on Pro at 100,001 or more contracts in a month.
Index options, futures options and broker-assisted orders use separate rates, and exchange, clearing and regulatory fees still apply on top.
| Plan | Price | Best for |
|---|---|---|
| tastytrade Stock and ETF options | $1/contract to open, $0 to close | $10 maximum per stock or ETF leg |
| tastytrade Broad-based index options | $1/contract to open, $0 to close | No $10 cap on broad-based index options |
| tastytrade Stocks and ETFs | $0 commission | No commission on stocks and ETFs |
| tastytrade Options on futures | $1.25/contract each side | Futures options charged on both sides |
| tastytrade Micro futures options | $0.75/contract each side | Micro futures options charged each side |
| tastytrade Futures | $1/contract each side | Standard futures charged on each side |
| tastytrade Micro futures | $0.75/contract each side | Micro futures charged on each side |
| tastytrade Clearing and ORF example | About $0.10 clearing, $0.02 ORF | tastytrade example on equity option opens |
| tastytrade Margin | $2,000 equity | Equity required for margin privileges |
| tastytrade Account | $0 to open | No account minimum and no platform subscription |
| Interactive Brokers Lite | $0.65/contract, $1.00 minimum | First 1,000 US contracts a month, US residents |
| Interactive Brokers Pro, premium under $0.05 | $0.25/contract | Monthly volume 10,000 or under |
| Interactive Brokers Pro, $0.05 to under $0.10 | $0.50/contract | Monthly volume 10,000 or under |
| Interactive Brokers Pro, premium $0.10 or more | $0.65/contract | Monthly volume 10,000 or under |
| Interactive Brokers Pro, 10,001 to 50,000 | $0.25 or $0.50/contract | Monthly volume from 10,001 to 50,000 |
| Interactive Brokers Pro, 50,001 to 100,000 | $0.25/contract | All premiums in this monthly volume band |
| Interactive Brokers Pro, 100,001+ | $0.15/contract | All premiums, same $1.00 minimum per order |
| Interactive Brokers OCC clearing | $0.025/contract | OCC clearing fee listed by IBKR as extra |
| Interactive Brokers Lite stocks and ETFs | $0 | US stocks and ETFs on Lite |
| Interactive Brokers Account | $0 to open | No account minimum and no maintenance fee |
| Charles Schwab Stocks and ETFs | $0 online commission | Listed stocks and ETFs |
| Charles Schwab Options | $0 base + $0.65/contract | Open and close, no published volume discount |
| Charles Schwab Buy-to-close waiver | Waived at $0.05 or less | Online buy-to-close contract fee waived |
| Charles Schwab Exercise and assignment | $0 | Exercise and assignment |
| Charles Schwab Broker-assisted options | $25 + $0.65/contract | Broker-assisted options orders |
| Charles Schwab Futures and futures options | $2.25/contract per side | Plus NFA and exchange fees |
| Charles Schwab thinkorswim | $0 included | Desktop, web and mobile included |
| Charles Schwab Account | $0 to open | No brokerage account minimum |
| E*TRADE Stocks, ETFs and options | $0 online commission | Base commission on US-listed stocks, ETFs and options |
| E*TRADE Options, 0 to 29 trades | $0.65/contract | Stock, ETF or options trades in a quarter |
| E*TRADE Options, 30+ trades | $0.50/contract | 30 or more trades in a quarter |
| E*TRADE Exercise and assignment | $0 | Exercise and assignment |
| E*TRADE Dime Buyback | $0 contract fee | Close a short equity option at 10¢ or less |
| E*TRADE Futures and futures options | $1.50/contract per side | Plus exchange and NFA fees |
| E*TRADE SPX index fee | $0.54/contract | Index fee on top of the contract rate |
| E*TRADE NDX index fee | $0.68/contract | Index fee on top of the contract rate |
| E*TRADE VIX index fee | $0.28/contract | Index fee on top of the contract rate |
| E*TRADE Broker-assisted | +$25 | Added on broker-assisted trades |
| E*TRADE Account | No published minimum | No account minimum printed on the rates page |
| Robinhood Stocks, ETFs and options | $0 commission | US-listed stocks, ETFs and their options |
| Robinhood ORF and OCC | $0.04/contract | Combined fee on buys and sells since 10 January 2025 |
| Robinhood FINRA TAF | $0.00329/contract | On options sells as of 1 January 2026 |
| Robinhood Index options | $0.50/contract | Index contract fee without Gold |
| Robinhood Index options with Gold | $0.35/contract | Index contract fee with Gold |
| Robinhood SPX exchange fee | $0.57 to $0.66 | Symbol-specific SPX exchange fee range |
| Robinhood SPXW exchange fee | $0.50 to $0.59 | Symbol-specific SPXW exchange fee range |
| Robinhood RHF fee schedule | $0.50 or $0.35/contract | Also printed on the official RHF schedule |
| Robinhood RHF schedule, 15 October 2026 | $0.50/contract | Effective 15 October 2026, confirm the live ticket |
| Robinhood Account | $0 to open or maintain | No fee to open or keep the account |
| Robinhood Outgoing ACATS | $100 | Fee to transfer the account out |
The bottom line
If you trade equity and ETF spreads at 10 contracts and up, tastytrade is the published deal: $1 to open, $10 cap per leg, $0 to close. If you need a professional terminal, global markets or the volume tiers, Interactive Brokers is the schedule that goes to $0.15, with a $1 minimum that punishes the 1-lot.
If you want thinkorswim inside a household brokerage, Charles Schwab at $0.65 a side is the default, not the bargain.
E*TRADE is Schwab's $0.65 until you clear 30 trades a quarter, then $0.50, plus a cleaner dime-buyback.
Robinhood is the cheap equity ticket ($0 commission, $0.04 combined fee) and a weak options desk. Index options are a separate bill everywhere. This is a fee comparison, not a recommendation to trade options.
Frequently asked questions
Some offers on this page may be paid placements or contain affiliate links.
Get the Finpresso brief
Free daily newsletter, read in 5 minutes.
Subscribe free