Brokers with
Options brokers with $0 per contract
8 brokers charge $0 per contract on equity options for residents of the United States. The same facts for each: fees, approvals, countries.
$0 per contract means the broker charges no commission, the fee per contract, to open or close an equity option. Exchange and regulatory fees can still apply to each contract, and index options such as SPX usually carry their own fee. Check both in the broker's fee schedule. 8 brokers charge $0 per contract for residents of the United States.
At a glance: 8 brokers, 8 at $0 per contract, 4 with $0 exercise and assignment, 5 approving naked options, 6 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 | |
 Alpaca | Coming | $0 per contractPartner, index and professional rates differ | Not published | Spreads | Yes | 6.25% | |
 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% | |
 Webull | Trade & Sync | $0 per contractOversized and index orders cost extra | Not published | Naked | Yes | 8.74% | |
 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 charges $0 per contract on equity options. 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 charges $0 per contract on equity options. 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.
Moomoo$0 per contract · exercise fee not published · naked
Moomoo charges $0 per contract on equity options. 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 charges $0 per contract on equity options. 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 charges $0 per contract on equity options. 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.
Webull$0 per contract · exercise fee not published · naked
Webull charges $0 per contract on equity options. 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.
Firstrade$0 per contract · $0 exercise and assignment · naked puts
Firstrade charges $0 per contract on equity options. 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 charges $0 per contract on equity options. 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
$0 per contract