Skip to content
Risk·77–82% of retail CFD accounts lose money. Trade only with capital you can afford to lose.
Disclosure·Affiliate links. Editorial ranking is independent. How we're paid
Brokerlist2026

Tracked byIndependent review teamUpdated MethodologyEditorial top pick: Deriv

Options Brokers, 2026

Independent ranking of options brokers — covering equity, index and ETF options on US, European and Asian markets. We compare per-contract commissions, exchange fees, assignment behaviour, verified regulator licences and platform realities. Each profile lists supported strategies (covered calls, spreads, iron condors), margin requirements, expiration handling and the regulated entity that applies in your jurisdiction. We don't reorder when an affiliate pays more — just what brokers themselves disclose.

Find your broker4 questionsNo email, no signup

I live in , starting with , and I'm , trading .
3brokers tracked this quarter. Pricing copied from broker specification pages; regulators verified weekly.

Broker-published pricing · Regulator checks · Weekly refresh

Trade-cost calculator

EUR/USD · standard lot
1.0standard lots
0.110
20
5100

Total cost per round-turn trade = average spread × $10/pip × lots + round-turn commission. Spreads are broker-published typical figures — your realised execution will vary, especially around news.

At 20 trades a month, you save $40/month ($480/year) by choosing Deriv over AvaTrade.

Open account at Deriv →
BrokerSpreadCommissionTotalvs cheapestOpen account
Deriv$7.00—$7.00cheapest→
AvaTrade$9.00—$9.00+$2.00→

Ranking · 3 brokers · options

sorted by editorial score

  1. Editorial top pick

    01Deriv

    BVIMFSA
    Open account at Deriv →
    Avg spread
    0.70pip
    editorial estimate
    Cost / lot
    $7.00
    no commission
    Min deposit
    $5
    Max leverage
    1:1000
    EU retail (MFSA Malta): 1:30 · Labuan / Vanuatu / BVI entities: up to 1:1000

    $5 minimum + 25 years of operating history (since 1999 as Binary.com, rebranded Deriv in 2020) · Forex is secondary to synthetic indices (their proprietary product) — CFD instrument breadth is narrower than ECN-focused brokers like Tickmill

    Fits ifYou trade synthetic indices (Volatility, Crash, Boom) — Deriv invented this product category
    PlatformsMetaTrader 5, Deriv X

    Founded in 1999 · Verified Jun 1, 2026

    Full Deriv details →

  2. 02AvaTrade

    ASICFSCACBIBVI
    Open account at AvaTrade →
    Avg spread
    0.90pip
    broker-published typical
    Cost / lot
    $9.00
    no commission
    Min deposit
    $100
    Max leverage
    1:400
    EU/UK/AU retail: 1:30 · FSCA / BVI entities: up to 1:400

    Regulated in 6 jurisdictions · Spread-only pricing at 0.9 pip = ~$9/lot round-turn — wider than ECN/Raw brokers at similar volume

    Fits ifYou are AU or EU retail and want CBI + ASIC double cover with 20 years of operating history
    PlatformsMetaTrader 4, MetaTrader 5, AvaOptions, DupliTrade

    Founded in 2006 · Verified Jun 1, 2026

    Full AvaTrade details →

  3. 03Bybit

    VARA1 action
    Open account at Bybit →
    Avg spread
    0.10pip
    broker-published typical
    Cost / lot
    $4.00
    incl. $3 commission
    Min deposit
    None
    Max leverage
    1:500
    Up to 1:500 on FX/CFD via MT5 · 1:100+ on crypto perpetuals · no ESMA cap (offshore crypto-CFD exchange)

    MT5 CFD offering with ~0.1 typical spread + ≈$3 RT equivalent — cost-competitive with ECN tiers despite crypto-first business · FX CFDs are secondary product — Bybit core business is crypto derivatives, FX depth and liquidity differ from dedicated forex brokers

    Fits ifYou already trade crypto at Bybit and want FX CFDs in the same unified-margin account
    PlatformsMetaTrader 5, Bybit

    Founded in 2018 · Verified Jun 1, 2026

    Full Bybit details →

Tracking options broker pricing

Options broker pricing has two layers: per-contract commission ($0.00-$1.00 typical at retail brokers like Tastytrade, Robinhood, Schwab) and exchange fees ($0.10-$0.85 per contract at major exchanges OCC/CBOE/EUREX). Multi-leg strategies (spreads, condors) charge per leg. We capture per-contract round-turn commission. Exchange fees pass through unchanged from the venue.

Beyond commission, assignment behaviour matters: American-style options can be assigned any time; European-style only at expiration. Each broker profile lists supported strategies (covered calls, naked puts, spreads, condors), margin requirements (the regulated entity determines initial margin under FCA/SEC rules), and whether early-exercise risk is auto-managed. Cash-settled vs physically-settled also flagged.

How we score

Full methodology →

Editorial rating is a weighted score across four categories. The largest weight goes to actual per-lot trading cost, because it is the one metric every retail trader materially feels.

We verify regulator status against the FCA, ASIC, CySEC and other registries. Spread figures are broker-published — copied from each broker's specification page, not live-tracked. We do not run live execution tests, time withdrawals, or open support tickets.

Affiliate relationships do not move positions in this list. When a broker pays us more per lead, that shows in our paid-placement disclosure — not in the ordering.

Cost of trading
35%
Regulation & fund safety
30%
Operating history
20%
Accessibility
15%

Currently tracking 14 brokers across 55 regulators · 2 regulatory actions on file · pricing verified June 1, 2026.

Regulator registries: FCA · ASIC · CySEC · FSCA · SEC EDGAR

Frequent questions

5
What's the typical options commission?

US retail brokers offer $0-$0.65 per contract per side. Tastytrade caps at $10 per leg per direction. Schwab and Fidelity are $0.65/contract. Interactive Brokers tiered ($0.15-$0.65). Plus exchange fees ($0.10-$0.85/contract). For a 4-leg iron condor, total round-turn cost can be $5-$15.

What does early exercise mean?

American-style options can be exercised before expiration. Most retail traders close before expiration to avoid assignment. If short and assigned, you're obligated to deliver/take 100 shares per contract. Most assignment risk is on dividends (calls) or deep-ITM puts. Each broker profile lists assignment notification policies.

Does the PDT rule apply to options?

Yes. Options on US equities are securities under SEC, so 4+ day trades in 5 days flags Pattern Day Trader status, requiring $25,000 minimum equity. Below the threshold, restrictions apply. Cash accounts have no PDT but T+1 settlement limits trading frequency. Index options (SPX) are 1256 contracts, sometimes get different treatment.

How are options taxed?

Equity options follow capital gains rules. Index options on broad-based US indices (SPX, RUT) are 1256 contracts: 60/40 long/short regardless of holding period — typically more tax-efficient. ITM call assignment treats the call premium as part of the stock cost basis. Always check with a tax advisor in your jurisdiction.

What's the leverage on options?

Options provide implicit leverage via delta — a $5 SPY call controls 100 shares of SPY, roughly $500 of underlying exposure with $500 capital outlay. Effective leverage 1:100+ on near-dated ATM options. Margin requirements for short options vary by broker and underlying — typically 20-50% of underlying exposure for naked positions.

Other asset categories

Brokers by country