Best Options Brokers 2018

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Regardless if you trade part-time as a hobby, or full-time as a profession, using the best options brokers is critical to your success as a trader.

Overpaying for options contract commissions, exercise and assignment fees, and being limited by your broker with options trading approval levels is a recipe for disaster. These are the best options brokers for 2018, primarily based on cost, but also based on factors like customer service and options trading platforms.

Best Options Brokers for 2018

Broker

Trade Fee

Exercise/ Assignment Fee

Ally Invest 

$3.95 + $0.50

$9.95 / $4.95

tastyworks 

$1.00

$5.00 / $5.00

Firstrade 

$2.95 + $0.50

$14.95 / $14.95

TradeStation 

$5.00 + $0.50

$14.95 + $14.95

TD Ameritrade 

$6.95 + $0.75

$19.95

When looking at options brokers, of course aspects like trading technology and customer service matter, but at the end of the day, an options trade is an options trade.

Whether you have 1,000 long call options on Apple stock or 2 short put options on Facebook stock, once the position is on, your choice in options brokers isn’t going to determine the profitability of your position.

As such, it’s paramount to keep your options fees as low as possible. Although your broker won’t determine the success of an individual options position, overpaying in options commissions will certainly take away from your overall success as a trader. Every dollar you spend on commissions, statistically speaking, makes you less likely to be a profitable trader – most people overlook this fact.

Moreover, options contracts are where brokers make a significant portion of their revenue, because there are set timeframes for options (expiration dates), and options are therefore traded much more actively than stocks. Plus, charging $0.50 to $0.75 per contract, with am industry-standard base charge of $3.00 to $9.00, quickly adds up for multiple contract and multi-leg orders, like iron condors.

With all of this said, our top options broker for 2018 is Ally Invest. Out of all of the brokers that offer 24/7 customer service, Ally has the lowest fees for options trading, and no inactivity or maintenance fees of any kind. Bottom line: Ally’s 24/7 customer service offers peace of mind, their low pricing blows the competition out of the water, and you get free access to options trading and analysis software.





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