VaultRubric
Best brokerage for options traders
Trading costs (which include the per-contract options fee) weighted highest. Brokers that don't offer options, or whose options fee we couldn't verify, are left out.
Rates change often — verify on the bank's or broker's site before opening an account. Every value shows its as-of date; ⚑ marks figures from third-party sites. Not financial advice.
Too close to call: Firstrade and SoFi Invest (within 1.6 points).
Weights: Trading costs 34%, Account minimum 10%, IRA options 7%, Transfer-out fee 10%, Protection (SIPC) 17%, Regulatory record 21%
| # | Broker | Score | Options/contract | Notes |
|---|---|---|---|---|
| 1 | Firstrade | 92.1% cov 83% | $0 src · 2026-10-10 | |
| 2 | SoFi Invest | 90.5% cov 72% | $0 ⚑ third-party source src · 2026-10-10 | Regulatory: FINRA: SoFi Securities $698,282 re fully paid securities lending (4-firm action) |
| 3 | Webull | 90.0% cov 100% | $0 src · 2026-10-10 | Regulatory: FINRA: $1.6M for influencer communications supervision failures |
| 4 | Robinhood | 86.2% cov 100% | $0 ⚑ third-party source src · 2026-10-10 | Regulatory: SEC: $45M combined penalties (recordkeeping, reporting, cybersecurity etc.) |
| 5 | Fidelity | 85.5% cov 100% | $0.65 src · 2026-10-10 | |
| 6 | Public | 85.4% cov 90% | $0 + $0.06–$0.18 rebate/contract ⚑ third-party source src · 2026-10-10 | Regulatory: FINRA: $528,124 (fully paid lending); Regulatory: FINRA: $350,000 influencer supervision (reported) |
| 7 | Ally Invest | 84.8% cov 100% | $0.5 src · 2026-10-10 | |
| 8 | Merrill Edge | 81.4% cov 100% | $0.65 src · 2026-10-10 | Regulatory: FINRA: Merrill Lynch $6M AML fine (reported) |
| 9 | E*TRADE | 81.2% cov 83% | $0.65 src · 2026-10-10 | |
| 10 | Charles Schwab | 80.0% cov 100% | $0.65 src · 2026-10-10 | Regulatory: SEC: ~$187M for misleading robo-adviser (Intelligent Portfolios) clients about hidden cash fees |
| 11 | Interactive Brokers | 79.2% cov 90% | Fixed $0.65; Tiered $0.15–$0.65 src · 2026-10-10 | Regulatory: FINRA/Nasdaq PHLX: Reported $7.75M fine for mismarking options orders |
| 12 | Vanguard | 70.0% cov 90% | $1.0 src · 2026-10-10 | Regulatory: SEC: $106.41M re target-date fund capital gains disclosures |
Top 3 compared
| Fact | Firstrade | SoFi Invest | Webull |
|---|---|---|---|
| Stock/ETF commission | $0 src · 2026-10-10 | $0 src · 2026-10-10 | $0 src · 2026-10-10 |
| Options (per contract) | $0 src · 2026-10-10 | $0 ⚑ third-party source src · 2026-10-10 | $0 src · 2026-10-10 |
| Account minimum | not found | not found | $0 src · 2026-10-10 |
| IRA types | not found | Traditional, Roth, SEP, Rollover src · 2026-10-10 | Traditional, Roth, Rollover src · 2026-10-10 |
| IRA match | none found | 1% on contributions and rollovers src · 2026-10-10 | 3.5% with Webull Premium; base 1% per third party src · 2026-10-10 |
| Transfer-out fee | $75 src · 2026-10-10 | $100 src · 2026-10-10 | $75 src · 2026-10-10 |
| SIPC member | Yes src · 2026-10-10 | not found | Yes src · 2026-10-10 |
| FINRA CRD | CRD 16843 src · 2026-10-10 | CRD 151717 src · 2026-10-10 | CRD 289063 src · 2026-10-10 |
| Regulatory actions (5 yrs) | none found in last 5 yrs src · 2026-10-10 | 2023 FINRA: SoFi Securities $698,282 re fully paid securities lending (4-firm action) src | 2025-05 FINRA: $1.6M for influencer communications supervision failures src |
Opens the tool with these platforms filled in, so you can change the weights.
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- Marcus vs SoFi
FAQ
What is the best brokerage for options traders?
Too close to call between Firstrade and SoFi Invest. Your answer depends on your priorities; adjust the weights in the tool.
How does VaultRubric score these?
Only from our curated dataset (official pages, regulators, and flagged third-party sites), with fixed formulas shown in “Show math”. No AI or live scraping, so the same comparison always gives the same result. Not financial advice.