Comparing Options Trading Brokers: Which One is Right for You?
As we write this in March 2017 a price war is raging among online brokers.
The cost for placing options orders is dropping everywhere. Be sure to contact your top choices directly to confirm their commissions, minimum deposit amounts, and customer support capabilities.
Ask them what sets them apart from their competition. You can also ask if they have any special deals – they are eager for your business!
The brokers we see mentioned most often by experienced Investing Daily members are TD Ameritrade’s thinkorswim, Fidelity, E*Trade, and Interactive Brokers.
We at Investing Daily receive no compensation for recommending any of these brokers and simply offer this as a tool to help our new members get started. We cannot vouch for the impartiality of any of the reviews below, but hope that you’ll be able to gather enough honest information that your final choice is a great fit.
Start by reviewing the Financial Industry Regulatory Authority’s advice.
Then scan Barron’s Target Customer column to find a few options brokers most likely to have what you need. Barron’s Online Broker Survey 2016: How They Stack Up
Once you have a few candidates in mind, feel free to browse the internet for more pros and cons. Here are a few reviews that we found:
Best Options Brokers for 2017, by The Simple Dollar
- Best for Beginners: thinkorswim (TD Ameritrade)
- Lowest Fees for Experienced Traders: OptionsHouse (E*TRADE)
- Best Tools for Active Traders: OptionsXpress (Charles Schwab)
Best Options Trading Brokers and Platforms, by nerdwallet
- OptionsHouse (E*TRADE)
- OptionsXpress (Charles Schwab) – top pick
- thinkorSwim (TD Ameritrade)
- TradeStation – top pick
- Best Overall: Fidelity
- Best to Grow With: TD Ameritrade
- Best Low-Cost Option: TradeKing
- Low-Cost Honorable Mention: OptionsHouse
- Best for Slightly Higher Rollers: Charles Schwab
- Best Site Customization: E*TRADE
- Most Personalized Service: Scottrade
Options Trading Brokers 2017, by Stockbrokers.com