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Alpaca vs eOption
The same facts side by side. Swap a broker from the menu under its logo; the best value in each row is marked.
- Alpaca leads
- 3
- eOption leads
- 2
- Level
- 3
Of 8 scored facts, Alpaca leads on 3, eOption on 2, and 3 are level. Countries and the offer are not scored.
Head-to-head
The best value in each row is marked; rows where every broker matches carry no mark.| Fact |  Alpaca |  eOption |
|---|---|---|
| Fee per contract | $0 per contractBest | $0.10 + $1.99 per trade |
| Alpaca, Partner, index and professional rates differ | eOption, Base fee and other charges apply | |
| Exercise and assignment | Not published | $9 |
| Approval | Spreads | NakedBest |
| Alpaca, Up to defined-risk spreads | eOption, Up to naked short options | |
| 0DTE | Yes | Not published |
| Index options (SPX) | Yes | Yes |
| Options on futures | No | Not published |
| Spreads in an IRA | No | YesBest |
| Portfolio margin | Not published | Not published |
| Margin rate | 6.25%Best | 8.20% |
| Platforms | Web, API | Web, Mobile |
| Paper trading | Yes | Yes |
| 24/7 support | Not published | Not published |
| Countries | US and worldwide; support confirms if your country is supported | US residents plus 12 listed countries, or 13 with China, as broker pages disagree ($25,000 minimum) |
| QuantWheel | Sync · Trade soonBest | Not connected |
| Alpaca, Reads the account; placing orders from QuantWheel is coming soon | ||
| Offer |
Facts from each broker's fee schedule and options agreement, checked 8 October 2026. Best marks the lowest cost or the widest allowance in a row.
The two brokers
One paragraph each.Alpaca$0 per contract · exercise fee not published · spreads
Alpaca opens options accounts for residents of the United States and the United Kingdom, among the 9 countries this directory covers. It charges $0 per contract (Partner, index and professional rates differ). It does not publish its exercise and assignment fees. It approves up to defined-risk spreads. It trades on Web, API. QuantWheel syncs positions and trades from the account and suggests; placing orders from QuantWheel is coming soon, so today you place them at the broker.
eOption$0.10 + $1.99 per trade · $9 per event · naked
eOption opens options accounts for residents of the United States, the United Kingdom, Germany, Australia, Singapore and Mexico, among the 9 countries this directory covers. It charges $0.10 + $1.99 per trade (Base fee and other charges apply). Exercise and assignment cost $9 each. It approves up to naked short options. It trades on Web, Mobile. It is not connected to QuantWheel.
What each costs for the way you trade
A year of fees from each broker's published prices, checked 7 and 8 October 2026.
- Alpaca$0.07 a trade, 10% of your premium, fee not published
- $1,194 a year
- eOption$4.35 a trade, 3.6% of your premium
- $417 a year
at least $777 a year less at eOption
Not counted because Alpaca does not publish them: assignment fee, platform fee, inactivity fee.
Estimates from published fees. Your broker statement can differ, and brokers change fees. A fee a broker does not publish is never counted as $0.
Questions people ask
Alpaca vs eOption