Brokers in
Options brokers in the United States
21 brokers open options accounts for residents of the United States. The same facts for each: fees, exercise and assignment, approvals, and whether they work with QuantWheel.
The country you live in decides which brokers accept your application, so this page lists only the ones that open accounts for residents of the United States. Some also check citizenship or visa status. 21 brokers qualify today, and each row shows the fees and rules of the broker's own company. Before you fund an account, check the account currency and the approval levels the broker gives residents of the United States.
At a glance: 21 brokers, 8 at $0 per contract, 12 with $0 exercise and assignment, 15 approving naked options, 13 working with QuantWheel; median fee $0.42 per contract, lowest margin rate at $50,000 5.05%.
| Broker | QuantWheel | Exercise | Approval | 0DTE | Margin | Offers | |
|---|---|---|---|---|---|---|---|
 TradeStation | Trade & Sync | $0 via QuantWheelIndex options add $0.75 per contract | $0 | Naked | Yes | Negotiable | |
 Alpaca | Coming | $0 per contractPartner, index and professional rates differ | Not published | Spreads | Yes | 6.25% | |
 E*Trade | Trade & Sync | $0.65 per contract$0.50 at 30+ trades per quarter | $0 | Naked | Yes | 11.70% | |
 Fidelity | Sync-only | $0.65 per contractBuy to close at $0.65 or less costs $0 | $0 | Naked | Yes | 10.63% | |
 Interactive Brokers | Sync-only | $0.65 per contract$1 minimum; additional fees | $0 | Naked | Yes | 5.38% | |
 Moomoo | Trade & Sync | $0 per contractIndex, non-retail and other fees extra | Not published | Naked | Yes | 6.80% | |
 Public | Trade & Sync | $0 per contractIndex options $0.35 plus exchange fees | Not published | Naked | Yes | 5.15% | |
 Robinhood | Sync-only | $0 per contractIndex contracts and other fees extra | $0 | Spreads | Yes | 5.05% | |
 Schwab | Sync-only | $0.65 per contractAdditional fees may apply | $0 | Naked | Yes | 10.63% | |
 tastytrade | Trade & Sync | $1 open / $0 close$10 opening cap per leg; other fees apply | $5 | Naked | Yes | 10.00% | |
 TradeZero | Coming | $0.42 per contract$20 order cap; index contracts excluded | Exercise $10 auto / $35 manual, assignment $10 per line | Not published | Not published | 9.00% | |
 Tradier | Coming | $0.35 per contractPaid plans differ; other fees apply | $9 | Naked | Yes | 9.75% | |
 Webull | Trade & Sync | $0 per contractOversized and index orders cost extra | Not published | Naked | Yes | 8.74% | |
 eOption | $0.10 + $1.99 per tradeBase fee and other charges apply | $9 | Naked | Not published | 8.20% | ||
 Firstrade | $0 per contractRegulatory fees apply | $0 | Naked puts | Yes | 11.50% | ||
 J.P. Morgan Self-Directed | $0.65 per contractCall-in orders add $25 | $0 | Covered | Not published | |||
 Lightspeed | $0.50 per contractWeb and mobile orders have a $1 minimum; other fees apply | $15 | Naked | Not published | 10.00% | ||
 Merrill Edge | $0.65 per contractCash-settled exercise and assignment charged per contract | $0 | Naked | Yes | Not published | ||
 SoFi Invest | $0 per contractRegulatory and clearing fees apply | $0 | Covered | Yes | 9.00% | ||
 Vanguard | $1 per contractEligible higher-balance accounts receive waivers | $0 | Naked puts | Not published | 11.25% | ||
 Zacks Trade | $1 first / $0.75 additionalU.S. options, USD | $0 | Not published | Not published | 8.83% |
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
eOption$0.10 + $1.99 per trade · $9 per event · naked
eOption opens options accounts for residents of the United States. 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.
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.
J.P. Morgan Self-Directed$0.65 per contract · $0 exercise and assignment · covered
J.P. Morgan Self-Directed opens options accounts for residents of the United States. It charges $0.65 per contract (Call-in orders add $25). 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.
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.
Merrill Edge$0.65 per contract · $0 exercise and assignment · naked
Merrill Edge opens options accounts for residents of the United States. It charges $0.65 per contract (Cash-settled exercise and assignment charged per contract). Exercise and assignment cost $0. It approves up to naked short options. It trades on Web, Mobile. It is not connected to QuantWheel.
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.
Vanguard$1 per contract · $0 exercise and assignment · naked puts
Vanguard opens options accounts for residents of the United States. It charges $1 per contract (Eligible higher-balance accounts receive waivers). 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.
Zacks Trade$1 first / $0.75 additional · $0 exercise and assignment · not published
Zacks Trade opens options accounts for residents of the United States. It charges $1 first / $0.75 additional (U.S. options, USD). Exercise and assignment cost $0. It does not publish its highest options level. It trades on Web, Desktop, Mobile. It is not connected to QuantWheel.
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