Please visit the online discount broker review page to see the best brokers compared.
eOption is one of the newest discount brokers to hit the online scene but they have over 30 years of experience in trading options. Since 2007 they have offered one of the lowest commissions in the industry to win market share. Their interface is straight forward and very good strategic option trading. While trading capabilities are as good as other brokers eOption’s tools aren’t as advanced as Think or Swim’s tools (but very few brokers have the caliber of tools Think or Swim offers). As time goes on eOption’s set of tools and capabilities will match those of other online option brokers. Direct access and multiple platforms are available for active traders. One of the standout features eOption provides is the ability to close multi-leg trade in a single click.
They provide free IRA accounts with no maintenance fees and are overall very good with not charging unnecessary fees. They are one of the few brokers that allow you to open account if you’re not a US citizen (good for international customers). They provide after-hours trading which is a nice feature not provided by most brokers. Execution routes through Citibank and speed is relatively fast and accurate. They support a number of ways to access and transfer your cash including a checking account, a visa check card/ATM card, and web bill pay.
The downside to eOption is that they require a minimum balance of $500 to open an account. Live streaming quotes are $15/month unless you trade at least 10 times.
Option + Contract = $3.00 + 0.10 per contract
Stock Trade = $3.00 per trade
Note: Some investors are claiming if you call eOptions you can get the per contract fee down to 0.05 per contract. Shawn from eOptions commented that the .10 per contract is their very best contract price.
One of the lowest cost brokers online.
No Fee IRAs.
Offer a wide range of investment options including stock, bonds, options, and more.
Supports international accounts (Accounts can be created for people outside the USA)
One click execution of multiple leg orders.
Minimum of $500 to start an account required.
Streaming quotes and live charts are an additional $15/month if you trade infrequently.