Brokers for
Options brokers for active traders
4 brokers charge less per contract at high volume for residents of the United States. The same facts for each: fees, approvals, countries.
An active trader places many options trades a month, so the fee per contract adds up fast. Some brokers charge less per contract once you pass a set number of contracts or trades. Check where each tier starts, whether it counts contracts or trades, and the exchange and regulatory fees on top. 4 brokers charge less per contract at high volume for residents of the United States.
At a glance: 4 brokers, 1 at $0 per contract, 3 with $0 exercise and assignment, 4 approving naked options, 3 working with QuantWheel; median fee $0.57 per contract, lowest margin rate at $50,000 5.38%.
| Broker | QuantWheel | Exercise | Approval | 0DTE | Margin | Offers | |
|---|---|---|---|---|---|---|---|
 TradeStation | Trade & Sync | $0 via QuantWheelIndex options add $0.75 per contract | $0 | Naked | Yes | Negotiable | |
 E*Trade | Trade & Sync | $0.65 per contract$0.50 at 30+ trades per quarter | $0 | Naked | Yes | 11.70% | |
 Interactive Brokers | Sync-only | $0.65 per contract$1 minimum; additional fees | $0 | Naked | Yes | 5.38% | |
 Lightspeed | $0.50 per contractWeb and mobile orders have a $1 minimum; other fees apply | $15 | Naked | Not published | 10.00% |
The brokers one by one
What qualifies each for this page, from its fee schedule and options agreement, and the one fact that sets it apart.TradeStation$0 via QuantWheel · $0 exercise and assignment · naked
TradeStation opens options accounts for residents of the United States. It charges $0 via QuantWheel (Index options add $0.75 per contract). Exercise and assignment cost $0. It approves up to naked short options. It trades on Web, Desktop, Mobile, API. QuantWheel syncs positions and trades from the account and suggests; with Trade & Sync the orders you approve go to the broker from QuantWheel.
Options fee at high volumePay $0 per options contract, and $0 for exercise and assignment, through QuantWheel. Index options carry a $0.75 per-contract surcharge. Margin rates are negotiable.
E*Trade$0.65 per contract · $0 exercise and assignment · naked
E*Trade opens options accounts for residents of the United States. It charges $0.65 per contract ($0.50 at 30+ trades per quarter). Exercise and assignment cost $0. It approves up to naked short options. It trades on Web, Desktop, Mobile, API. QuantWheel syncs positions and trades from the account and suggests; with Trade & Sync the orders you approve go to the broker from QuantWheel.
Options fee at high volume$0.50 (USD) per contract with 30 or more stock, ETF or options trades per quarter, the top published tier, and $0.65 below 30.
Interactive Brokers$0.65 per contract · $0 exercise and assignment · naked
Interactive Brokers opens options accounts for residents of the United States. It charges $0.65 per contract ($1 minimum; additional fees). Exercise and assignment cost $0. It approves up to naked short options. It trades on Web, Desktop, Mobile, API. QuantWheel syncs positions and trades from the account and suggests; you place the orders at the broker.
Options fee at high volumeIBKR Pro is tiered by monthly volume, at USD 0.50 per contract for 10,001 to 50,000 contracts (USD 0.25 under USD 0.05 premium), USD 0.25 for 50,001 to 100,000 and USD 0.15 for 100,001 and more (top tier). Each order has a USD 1.00 minimum plus exchange, clearing and regulatory fees, and at 1,000 to 10,000 contracts the standard USD 0.65 applies.
Lightspeed$0.50 per contract · $15 per event · naked
Lightspeed opens options accounts for residents of the United States. It charges $0.50 per contract (Web and mobile orders have a $1 minimum; other fees apply). Exercise and assignment cost $15 each. It approves up to naked short options. It trades on Web, Desktop, Mobile, API. It is not connected to QuantWheel.
Options fee at high volumeOn Lightspeed Trader (accounts opened after 03/01/2024) options cost US$0.45 per contract over 500 contracts a month (so 1,000 contracts pays US$0.45), US$0.35 over 2,000, US$0.25 over 10,000 and US$0.20 over 50,000, with custom pricing over 100,000 and the standard US$0.50 under 500. These Active Trader rates are not applied automatically, so the client must contact Lightspeed to request them, and they do not adjust with volume on their own and may be raised if thresholds are not met. Web & Mobile has no volume discounts (US$0.50 per contract, US$1 minimum per options order).
Compare two of them
The pair pages among these brokers, with a verdict.More by what you trade
Every page in this folder lists the brokers that qualify, with the same facts.Related pages
The same page for other countries, then the facets traders pair with this one.Questions people ask
Active traders