The Top 10 Options Trading Platforms for 2025

Stock Investing5 min read

10 options ranked and reviewed.

Cash Lambert
Cash Lambert

Are you just getting started with options trading and feeling overwhelmed by all the platforms out there?

You’re not alone.

The right options trading platform can make a huge difference in your learning curve, confidence, and ultimately your trading results.

 

So, with so many options trading platforms out there, how can you choose the right one?

In this guide, I’ll break down the top 10 options trading platforms for beginners, highlighting their strengths, drawbacks, and where you can learn more about each one. In the end, it will be up to you to choose the best options trading platform for you and your investing goals. 

Let’s get started! 

1. tastytrade

tastytrade is designed by options traders, for options traders. Its clean interface, low commissions, and focus on options strategies make it a favorite among both beginners and pros.

Advantages:

  • $1 per contract to open, $0 to close (with a $10 cap per leg)
  • Intuitive platform with built-in options strategy tools
  • Educational content and live market commentary
  • Community-driven with active support

Disadvantages:

  • Basic charting tools may feel limiting
  • Not ideal for long-term investors
  • Steep learning curve for beginners

Learn more at tastytrade.com.

2. thinkorswim by Charles Schwab

thinkorswim is legendary for its advanced charting and customization. It’s packed with features, making it a great sandbox for new option traders who want to experiment.

Advantages:

  • $0 commissions on stocks/ETFs, $0.65 per options contract
  • Paper trading (“paperMoney”) for risk-free practice
  • Deep research and analysis tools
  • Highly customizable workspace

Disadvantages:

  • Steep learning curve due to complexity
  • Can feel overwhelming at first

Learn more at schwab.com/thinkorswim

3. Interactive Brokers (IBKR)

IBKR is a global powerhouse with professional-grade tools and access to markets worldwide. It’s great for ambitious beginners (like yourself!) who want room to grow.

Advantages:

  • Advanced analytics and risk tools
  • Low commissions ($0.65 per contract, volume discounts)
  • Access to global markets and many asset classes
  • Robust educational resources to help you further your education

Disadvantages:

  • In my experience, the platform can be intimidating for new traders
  • Customer support is hit-or-miss

Learn more at interactivebrokers.com

4. Robinhood

Even if you’re new to options trading, you’ve probably heard of Robinhood. Robinhood made trading accessible for everyone with its commission-free model and mobile-first design. If you’re looking for the shallow end of the pool that is options trading, Robinhood is a good option.

Advantages:

  • $0 commissions on options, stocks, and ETFs
  • Streamlined, easy-to-use app
  • No account minimums

Disadvantages:

  • Limited advanced trading tools
  • Fewer research and educational resources

Learn more at robinhood.com

5. Webull

Webull combines commission-free trading with surprisingly advanced charting and analysis tools, all in a user-friendly package that caters to new options traders.

Advantages:

  • $0 commissions on US stocks, options, and ETFs
  • Advanced charting with 60+ indicators
  • Paper trading for practice

Disadvantages:

  • Customer support can be slow at times in my experience
  • Educational content is not as robust as some competitors. After all, education is the key to options trading.

Learn more at webull.com

6. ETRADE (Power ETRADE)

Another legacy option, Power E*TRADE is known for its easy-to-use interface and strong options analysis tools, making it a solid choice for beginners.

Advantages:

  • Intuitive platform and mobile app
  • Powerful options screening and analysis tools
  • Extensive educational resources

Disadvantages:

  • $0.65 per options contract (discounts for active traders)
  • Some advanced features require the Power E*TRADE platform

Learn more at etrade.com

7. Fidelity Investments

Fidelity is a well-rounded broker with great customer service and a strong educational library, perfect for those who want to learn as they trade. These factors make it one of my personal favorites.

Advantages:

  • $0 commissions on stocks/ETFs, $0.65 per options contract
  • 24/7 customer support
  • Robust educational content, including options lessons

Disadvantages:

  • Options tools are good but not as advanced as thinkorswim or tastytrade
  • Platform can feel “traditional” compared to newer apps

Learn more at fidelity.com

8. Ally Invest

Ally Invest offers low-cost options trading and a simple, no-frills platform-great for those who want to keep things straightforward.

Advantages:

  • $0 commissions on stocks/ETFs, $0.50 per options contract
  • Simple, clean interface
  • Good for budget-conscious traders

Disadvantages:

  • Fewer advanced tools and research features
  • Not as robust for active traders

Learn more at ally.com/invest

9. Firstrade

Firstrade is all about value, offering $0 commissions on options trades and a platform that’s easy to navigate.

Advantages:

  • $0 commissions on options, stocks, and ETFs
  • No contract fees
  • User-friendly interface

Disadvantages:

  • Limited advanced analytics and tools
  • Less educational content than bigger brokers

Learn more at firstrade.com

10. TradeStation

TradeStation is a favorite among tech-savvy traders, offering powerful analysis tools and a customizable workspace.

Advantages:

  • Advanced charting and automation features
  • Paper trading and backtesting
  • $0 commissions on stocks/ETFs, $0.60 per options contract

Disadvantages:

  • Platform is complex for total beginners
  • Some features require a monthly fee

Learn more at tradestation.com

So … How Do You Choose the Best Options Trading Platform?

Now that we’ve broken down my personal favorite options trading platforms, how can you make your choice? Here are a few quick tips to help you decide:

  • If you want the best educational content: Check out Fidelity, tastytrade, or E*TRADE.
  • If you want the lowest costs: Firstrade or Robinhood are hard to beat.
  • If you want advanced tools as you grow: thinkorswim, Interactive Brokers, or TradeStation are excellent choices.
  • If you want a simple, mobile-first experience: Robinhood or Webull are great starting points.

Final Thoughts

Starting your options trading journey is exciting, and the right platform can make all the difference.

Take your time, explore a few platforms with demo or paper trading accounts, and find the one that fits your style and goals.

And, above all, make a commitment to furthering your education along the way so that you can minimize your risk while maximizing your profit.

Note: Always check each platform’s website for the latest pricing and features, as these can change frequently.