Cheapest Options Broker

Cheapest options trading commissions: online brokerages with lowest options trades cost (fees) in 2015

Review of online brokers with the cheapest per contract put/call options commissions pricing and best platforms for options traders. All discount brokerage companies in the list are members of FINRA/SIPC.

Cheapest Options Broker Options Commissions

Optionshouse Review
$4.95 + $0.50 per contract
OptionsHouse Brokerage

OptionsHouse offers great pricing plan for options trading with some of the lowest options commissions available in the industry. Based on their pricing, trading 10 contracts costs $10, which makes it affordable for small time traders. This is a huge advantage for those of us that don’t want our profits to be eaten up by commissions.

The company doesn't have account balance minimums, minimum number of trades or volume requirements to get these low options commissions. Customers can open cash account with $0, margin account with $2,000.

Another huge plus is that OptionsHouse has one of the lowest margin rates we have seen at 2.00% - 6.50% depending on the amount being borrowed. That’s between 2 and 4 points below most other brokers and this low rate allows you to use leverage to amplify returns more successfully.

As the name suggests, the firm's primary focus is on the options traders and it is one of the cheapest brokerage firms to trade options. Barron's magazine rated OptionsHouse #1 for Options Traders for the fifth consecutive year in its online broker survey. Barron’s thinks "serious options traders will be very happy" at OptionsHouse. Read full OptionsHouse review.

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Trade free for 90 days when you open and fund a new OptionsHouse account

Cheapest Options Broker Options Commissions

$4.95 + $0.65 per contract
TradeKing Brokerage

If TradeKing has a specialty it is in the options trading business. From their simple and fair pricing to the many analytic tools available, an options trader can find all that they need on the site. The screening and pricing tools are too numerous to list in detail, but most impressive are the calculators for probability analysis as well as option profit and loss displays, which will show projected option value for a specific increase or decrease in the underlying stock price, or changes in volatility. All of this is perfect for option traders who know how to use these functions to minimize risk and maximize profit. If one is new to options, TradeKing also offers education on the site dealing with strategies and option combinations to give all the information needed to begin trading.

For the last 5 years TradeKing received 4 out of 5 stars in Barron's annual rankings of the online brokers based on Trade Technology, Usability, Mobile, Range of Offerings, Research Amenities, Portfolio Analysis & Reports, Customer Service & Education, and Costs.

The company's trading platform, called TradeKing LIVE, combines news, streaming charts, options chains, account data, and a flexible trade ticket. It offers the ability for traders to customize features on the main dashboard, an enhanced Options Workbench with strategy recognition, and real-time, intraday updates that display cost basis on all stock positions.

TradeKing is an excellent broker for options traders with very low and simple pricing structure. Clients can open cash account with $0 down, margin account with $2,000 down. Read full TradeKing review.

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This article was updated on 2/2/2015.

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