Options brokers for day trading options

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.

Day trading options (pattern day trader rule)Day trading in a margin account needs $2,000 margin equity (4x intraday, 2x overnight buying power), with no $25,000 PDT minimum and no day-trade counter, since the PDT designation is no longer in effect. Cash accounts and IRAs get no intraday buying power and wait for sale proceeds to settle (one business day for options).

Alpaca$0 per contract · exercise fee not published · spreads

Alpaca opens options accounts for residents of the United States. 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.

Day trading options (pattern day trader rule)Alpaca lifted the Pattern Day Trader rule effective June 4, 2026 (no PDT designation, no day-trade counting, no US$25,000 minimum) and uses FINRA's new intraday margin framework, with the standard US$2,000 margin minimum. All Alpaca accounts are margin accounts (no cash accounts), and no separate options day-trading rule is published.

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.

Day trading options (pattern day trader rule)E*TRADE removed the pattern day trader designation and the $25,000 (USD) minimum when it implemented the FINRA change on 9 Jun 2026, and margin accounts need $2,000 equity and get real-time intraday buying power. Cash accounts must pay in full by settlement and cannot sell uncovered options.

Fidelity$0.65 per contract · $0 exercise and assignment · naked

Fidelity opens options accounts for residents of the United States. It charges $0.65 per contract (Buy to close at $0.65 or less costs $0). Exercise and assignment cost $0. It approves up to naked short options. It trades on Web, Desktop, Mobile. QuantWheel syncs positions and trades from the account and suggests; you place the orders at the broker.

Day trading options (pattern day trader rule)Fidelity has implemented the 4 Jun 2026 FINRA change, so there is no pattern day trader designation or $25,000 (USD) minimum, and margin accounts keep the $2,000 minimum with real-time intraday margin and intraday margin deficiencies due within 5 days. Day trading on credit needs a margin account, and cash accounts face good faith, freeriding and cash liquidation violations (90-day settled-cash restriction).

Moomoo$0 per contract · exercise fee not published · naked

Moomoo opens options accounts for residents of the United States. It charges $0 per contract (Index, non-retail and other fees extra). It does not publish its exercise and assignment fees. It approves up to naked short options. It trades on 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.

Day trading options (pattern day trader rule)Since June 4, 2026 FINRA intraday margin rules removed PDT flagging, day-trade counting and the $25,000 minimum for margin accounts, so there is no pattern day trader limit, though margin requirements still apply. Cash accounts follow standard cash trading and settlement rules.

Public$0 per contract · exercise fee not published · naked

Public opens options accounts for residents of the United States. It charges $0 per contract (Index options $0.35 plus exchange fees). It does not publish its exercise and assignment fees. It approves up to naked short options. It trades on Web, 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.

Day trading options (pattern day trader rule)Since June 4, 2026 there is no pattern day trader limit, no PDT designation, no day trade count limit and no $25,000 minimum in margin accounts, and margin buying power needs at least $2,000. Cash accounts are not subject to margin rules and trade with settled funds.

Robinhood$0 per contract · $0 exercise and assignment · spreads

Robinhood opens options accounts for residents of the United States. It charges $0 per contract (Index contracts and other fees extra). Exercise and assignment cost $0. It approves up to defined-risk spreads. It trades on Web, Mobile. QuantWheel syncs positions and trades from the account and suggests; you place the orders at the broker.

Day trading options (pattern day trader rule)Since June 4, 2026 FINRA intraday margin standards replaced PDT, so margin accounts have no pattern day trader limit, no day trade limits and no $25,000 minimum, though the $2,000 margin minimum still applies. Cash accounts can trade only with settled funds, and options settle in 1 trading day.

Schwab$0.65 per contract · $0 exercise and assignment · naked

Schwab opens options accounts for residents of the United States. It charges $0.65 per contract (Additional fees may apply). 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.

Day trading options (pattern day trader rule)Since 8 Jun 2026 Schwab has no pattern day trader limit, as it stopped counting day trades and dropped the $25,000 (USD) minimum, and margin accounts with at least $2,000 get Intraday Margin Buying Power (from 13 Jul 2026), monitored in real time. Cash accounts must trade with settled funds under good faith and freeriding rules, with a 90-day settled-cash restriction after violations.

tastytrade$1 open / $0 close · $5 per event · naked

tastytrade opens options accounts for residents of the United States. It charges $1 open / $0 close ($10 opening cap per leg; other fees apply). Exercise and assignment cost $5 each. 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.

Day trading options (pattern day trader rule)There is no $25,000 PDT minimum since 4 Jun 2026, when tastytrade adopted FINRA's new intraday margin rules, so margin accounts can day trade options as often as options buying power allows, as long as a new order does not push options buying power below zero. Cash accounts have no day-trade count limit but day trade only with settled funds (T+1), and a 5th good faith violation in 12 months brings a 90-day closing-only restriction.

TradeZero$0.42 per contract · $10 per event · not published

TradeZero opens options accounts for residents of the United States. It charges $0.42 per contract ($20 order cap; index contracts excluded). Exercise and assignment cost $10 each. It does not publish its highest options level. It trades on Web, Desktop, Mobile, 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.

Day trading options (pattern day trader rule)Effective June 4, 2026 TradeZero America replaced the PDT rule with a risk-based Intraday Margin framework, so there is no PDT trade counting and eligible margin accounts no longer need US$25,000 to day trade. Cash accounts stay subject to settled-funds rules and can get Good Faith Violations, and no options-specific rule is published.

Tradier$0.35 per contract · $9 per event · naked

Tradier opens options accounts for residents of the United States. It charges $0.35 per contract (Paid plans differ; other fees apply). Exercise and assignment cost $9 each. It approves up to naked short options. It trades on Web, Desktop, Mobile, 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.

Day trading options (pattern day trader rule)Tradier removed the Pattern Day Trader status and all its requirements from all accounts at the start of trading on 4 Jun 2026, so it has no PDT rule. Margin accounts may place as many day trades as they like under standard margin rules, day-trading restrictions are lifted and the 4x intraday buying power figure is gone. Cash accounts still follow settlement rules, where buying with unsettled proceeds and selling before settlement is a good faith violation, and a 4th GFV within a year brings a 90-day liquidation-only restriction.

Webull$0 per contract · exercise fee not published · naked

Webull opens options accounts for residents of the United States. It charges $0 per contract (Oversized and index orders cost extra). It does not publish its exercise and assignment fees. 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.

Day trading options (pattern day trader rule)Since June 4, 2026 (FINRA intraday margin rules) margin accounts have no pattern day trader limit, no day trade count limit, no PDT flag and no $25,000 minimum. Cash accounts (Level 1 and 2 options) can day trade without restriction using settled funds, and using unsettled funds can cause a good faith violation.

Firstrade$0 per contract · $0 exercise and assignment · naked puts

Firstrade opens options accounts for residents of the United States. It charges $0 per contract (Regulatory fees apply). Exercise and assignment cost $0. It approves up to naked short puts, not naked calls. It trades on Web, Mobile. It is not connected to QuantWheel.

Day trading options (pattern day trader rule)Since June 4, 2026 there is no pattern day trader rule, no day-trade count and no $25,000 minimum, and option day trades no longer trigger PDT, while margin accounts need the standard $2,000 and use real-time Intraday Margin Buying Power (long options are not marginable). Cash accounts day trade only with settled funds, and using unsettled funds triggers Good Faith Violations and a 90-day settled-funds restriction.

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.

Day trading options (pattern day trader rule)Lightspeed applies FINRA's intraday margin framework from June 4, 2026, the legacy PDT framework is expected to fully sunset on October 27, 2026, and new accounts on Lightspeed Trader Pro and Web & Mobile have no US$25,000 requirement. Their account types are Cash (US$2,500 deposit, US$500 equity maintenance, unleveraged, one-day cash settlement), Margin 1 (US$2,500, US$2,000 maintenance, unleveraged) and Margin 2 (US$5,000, US$2,000 maintenance, up to 4 to 1 intraday). A Legacy PDT account type (US$25,000) remains, Eze EMS, Sterling Trader Pro, LS Connect API and DAS are still listed only with Legacy PDT accounts (US$25,000 maintenance), and options-specific day-trading rules are not published.

SoFi Invest$0 per contract · $0 exercise and assignment · covered

SoFi Invest opens options accounts for residents of the United States. It charges $0 per contract (Regulatory and clearing fees apply). Exercise and assignment cost $0. It approves up to covered calls and cash-secured puts. It trades on Web, Mobile. It is not connected to QuantWheel.

Day trading options (pattern day trader rule)Since June 4, 2026 SoFi has replaced PDT with the Intraday Margin Rule (no 4-day-trade label, no $25,000 minimum, no day trade calls), and margin accounts may use up to 4x prior-day excess equity intraday, with $2,000 still needed for margin and options fully paid (not marginable). Cash Accounts and IRAs follow cash account rules, so a buy made with unsettled sale proceeds must be held until those funds settle or it is a Good Faith Violation, and free riding is not allowed.