Brokers with
Options brokers with low fees per contract
4 brokers charge $0.10 or less per contract in all for residents of the United States. The same facts for each: fees, approvals, countries.
The cost of an options trade is the broker's fee per contract plus the exchange and regulatory fees it passes through, and the exercise and assignment fees when a contract is assigned. This page adds them up on the cost calculator's wheel example and keeps the brokers at $0.10 or less per contract; a broker that does not publish one of these fees is left out. Check the fee on index options too. 4 brokers charge $0.10 or less per contract in all for residents of the United States.
At a glance: 4 brokers, 4 at $0 per contract, 4 with $0 exercise and assignment, 2 approving naked options, 2 working with QuantWheel; median fee $0.00 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 | |
 Robinhood | Sync-only | $0 per contractIndex contracts and other fees extra | $0 | Spreads | Yes | 5.05% | |
 Firstrade | $0 per contractRegulatory fees apply | $0 | Naked puts | Yes | 11.50% | ||
 SoFi Invest | $0 per contractRegulatory and clearing fees apply | $0 | Covered | Yes | 9.00% |
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.
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.
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.
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.
Compare two of them
The pair pages among these brokers, with a verdict.More by what you need
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
Low fees per contract