Home Best Options Trading App – Trading Guide 2024
Jeremiah Awogboro
Everything you read on our site is provided by expert writers who have many years of experience in the financial markets and have written for other top financial publications. Every piece of information here is fact-checked. We sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy.

You can spend more money buying and owning actual stocks or save costs with options (put and call options). Financial options are popular because of their cost savings compared to owning stocks or assets, but there is more. They provide leveraging opportunities and can be a hedge for your actual investments (assets).

Signing up with the best options trading app allows you to buy and sell options. You can trade without owning any underlying assets or keep to only purchasing the contracts. Most importantly, the best options trading app provides price data on the underlying asset to see when it is bullish or bearish.

This article will explore several trading platforms, including their standout features, to find the best app for options trading. While we have our recommendation, you may find one app a better choice in certain aspects that suit you. Even beginners will find a platform with simple features and a user-friendly design to get started.

In This Guide

Best Options Trading Apps List

  1. eToro: The overall best app for trading options
  2. IG Trading: Best options trading app for technical charts users
  3. Robinhood: Best app for trading options with strategies
  4. Interactive Brokers: The best options trading app with advanced order types
  5. Charles Schwab: Best options trading app for daily updates
  6. Plus500: The best app for trading options through CFDs

Best Options Trading Apps Reviewed

Using AI stock-picking services can give you an advantage in stock trading. However, you need extensive knowledge of market conditions and technical indicators to stand a chance of profiting. Some stock trading platforms offer options trading in addition to stocks, ETFs, or bonds.

We recommend platforms that allow trades on the underlying asset. That will help you monitor the prices before deciding which options to buy.

With that in mind, let’s review some options trading apps to get the most outstanding:

1- eToro: The overall best app for trading options

etoro logo This platform brings access to 17 international markets with commission-free investments. eToro covers over 1,700 assets and is home to 12 million users. Its services are available on the official website or through its mobile app, which offers fluid trading on the fly.

eToro launched in 2007, growing to offer trading services in stocks, cryptocurrencies, ETFs, and CFDs. These are available on the primary platform, but options trading is available in a separate section. The commission-free purchases and the absence of monthly account fees make eToro the best options trading app all-around.

This platform has several supporting licences, including CySEC, ASIC, and FCA. It is licenced in several US states, including Alabama, Arizona, Florida, Iowa, New York, North Carolina, etc.

eToro can easily serve as the best app for trading options for as little as $10. Besides that, the platform removes contract fees, increasing your returns. Eligible accounts can earn interest on cash, something rarely done among online brokers.

eToro home page

If you are looking for the best options trading app for beginners, this is it. The simplicity removes the jargon and cumbersomeness often seen in advanced professional trading platforms. Still, eToro offers chart analysis, copy trading, leverage, etc.

There is a separate education section to get you started. You can read our full eToro review to learn more about its features. 

The table below summarises the key features of the platform:

Feature Overview
CopyTrader It allows users to copy entire portfolios or open trades
Smart Portfolio Group assets based on theme or strategy


  • 0%  commission for buying stocks and ETFs
  • Copy trading feature is available
  • No annual or monthly fees


  • Options trading is only available through its iOS mobile app
  • There is a currency conversion fee for deposits

 Your capital is at risk

2- IG App: Best options trading app for technical charts users

IG Group logo

If your preference is mobile trading on Android devices, IG Trading is the best options trading app for that. It has many features that rival eToro and other platforms on this list. IG Trading packs many features, including charts and analysis, to help you trade options more effectively.

The US platform has over 80 forex pairs, but that is on the overall platform. It also effectively supports CFDs. Hence, you can trade options on the IG App using CFDs.

Trades are commission-free except for shares. In addition, you can trade using the mobile or web platforms. 

The IG App supports daily, weekly, monthly, and quarterly options trading. These alternatives have varying benefits, depending on your strategy.

IG App home page

You can start trading with a demo account or opt for a live account. The former makes IG one of the best demo trading platforms for beginners. 

IG has over 17,000 markets for CFD trading, giving you a wide variety of options for your trades. The app has won multiple awards in the finance, active trading, and multi-provider categories. Support is available through email and telephone service.

This platform is the best app for trading options because of several advantages. First, it supports multiple platforms with different features. These include MetaTrader 4, ProRealTime, progressive web app, and L2 Dealer.

You can enjoy zero fees on ProRealTime if you trade at least four times a month. The table below shows the prominent features:

Feature Overview
CopyTrader It allows users to copy entire portfolios or open trades
Smart Portfolio Group assets based on theme or strategy


  • Alerts are available to keep you updated.
  • It offers over 17,000 CFDs
  • It supports trading strategies


  • Regular trading is needed to maintain zero fees
  • Multiple platforms may be confusing for beginners

3- Robinhood: Best app for trading options with strategies


If you need commission-free trades, this platform does the job. Robinhood is popular for its extensive support for cryptocurrency and options trading. Also, it is an ideal platform for retirement investing, with features that allow for extended periods.

Although the Robinhood app is simple for beginners, it contains technical tools for experts. You can fine-tune your trading strategy with indicators like moving averages and relative strength index. If these terms sound strange, you can use the learn section on the app to grow your knowledge and skills.

Robinhood allows users to save and observe contracts without trading them. This strategy allows you to view hypothetical returns before putting real money into purchase options. This advantage makes Robinhood the best options trading app.

Robinhood home page

There are no commission or contract fees on Robinhood. However, you will pay an options regulatory and OCC clearing fee. Both are affordable compared to other options trading platforms.

Like eToro, Robinhood offers returns on uninvested cash. The platform has a 5% APY with FDIC insurance of up to $2.25 million in partner banks. These benefits only apply to the gold option.

The gold option supports instant deposits of up to $50,000 with an 8% margin of investment. There is advanced market data and professional research.

The table below summarizes the key features of Robinhood:

Feature Overview
Strategy Builder Offers customizations on strategy building
Watchlists Saves and monitors options contracts


  • It has low margin rates
  • It offers a strategy builder
  • You can test options contracts before investing


  • Few educational materials are available

4- Interactive Brokers: The best options trading app with advanced order types

You won’t get commission-free options trades at Interactive Brokers, but the platform has other advantages. It has advanced options trading tools. Furthermore, you can trade on over 30 market centers globally.

Interactive Brokers supports simple calls and put options. However, you can extend your trades with professional multi-leg strategies. The Probability Lab and OptionsTrader can help analyze trade results before you invest in them.

If you want the best options trading app to minimize cost, Interactive Brokers does the job without compromising on features. Commissions per US options contract range from $0.16 to $0.65.

Interactive Brokers home page

Interactive Brokers offers several platforms to support options trading in the US. These include the Trader Workstation, Desktop, Global Trader, Client Portal, and APIs. You can use IBKR Mobile to trade on your smartphone.

These platforms give you access to over 150 global markets. They have advanced order types with other tools. Read our Interactive Brokers review for more information on its features.

The table below proves that Interactive Brokers is the best app for options trading for active traders:

Feature Overview
Trader Workstation It offers features to support active traders that trade multiple assets
Client Portal It allows you to manage your account easily


  • It supports beginners, intermediates, and experts
  • It adds options analytics
  • A strategy builder is available


  • The pricing structure is complicated

5- Charles Schwab: Best options trading app for daily updates


With a promise to cover 100% of losses due to unauthorized activity, Charles Schwab sets the tone as the best options trading app. It is available in the United States. You can use several platforms from its catalogue with varying features.

Prominent features for options trading include screeners and alerts. These will keep the platform tailored to your needs or stock portfolio. Although it doesn’t work fully like portfolio trackers, Charles Schwab provides daily news updates to track your investments.

Charles Schwab home page

Charles Schwab has a robust educational section covering advanced topics with articles and videos. You can also join Schwab Coaching to learn with real-time demo trades.

This platform is available on the web or through its mobile app. Both support research before purchasing options contracts. The table below shows the prominent features of the Thinkorswin platforms:

Feature Overview
Options Statistics Provides tools to analyze options contracts
Options Probabilities Provides a risk profile tool to weigh the risk against the potential reward


  • It supports fractional options
  • It provides statistics and analytical tools


  • The mobile app is less feature-rich

6- Plus500: The best app for trading options through CFDs

You can start with the Plus500 demo account before depositing and trading with real money. The platform offers flexible options CFDs. Also, you can trade them with up to 1.5% leverage.

Like an alternative data service, Plus500 provides extensive reach for news and market insights. Besides trading options, you can also trade shares, commodities, crypto, EFTs, indices, and forex.

Plus500 does not provide full ownership of options contracts when you purchase them. That is because the platform uses CFDs, meaning you only speculate on potential changes in their premiums. You can explore different strike prices and expiry dates for the optimal trading strategy.

Plus500 home page

You can start trading immediately or use the demo account to learn more. Other tools, like economic calendars and risk management tools, are available. Education materials are also available to help you catch up to speed with options trading.

Plus500 packs a punch as the best options trading app for beginners with its 0-fee structure. You can read our Plus500 App review for more details.

The table below outlines the prominent features of the Plus500 trading app:

Feature Overview
MetaTrader 4 Supports automated trading with advanced MT4 charts
ProRealTime Offers features for technical charts users


  • It supports options trading through CFDs
  • Mostly zero-fees
  • It is user-friendly for beginners.


  • It does not support binary options trading
  • No visualization tool for trading strategy

Options Trading Explained

If you are completely new to options trading, you should review the basics before jumping in. Losses can still occur more dramatically, even with the best options trading app for beginners. Hence, this section will cover background knowledge about options trading, including assets, tools, and features to expect.

What is Options Trading?

Options are derivatives based on underlying assets. On the surface, they are speculative in nature but have an underlying value.

Options trading is a derivative contract. It gives the buyer the right but not the obligation to buy or sell the underlying asset at a set price (strike price). The buyer is referred to as the options holder, while the seller owns the contract.

options trading

To buy an options contract, you must pay a premium. If you are selling it, then you will ask for a premium. This amount is the primary risk you pay or the primary profit you get from an options contract.

The best options trading app for beginners simplifies this process. You can go to the options page, scan the contracts available and make a payment. However, there are a few things to point out.

Options trading occurs in two ways, as follows:

  • Put options: This contract gives you the right to sell stock at a specified price. It is ideal for bearish markets where the stock’s price falls below the strike price. The difference then becomes your gross profit from the contract.
  • Call options: This contract gives you the right to buy stock at a specified price. It is ideal for bullish markets where the stock’s price exceeds the strike price. Instead of paying more, you buy the stock at the lower strike price and profit from the bullish market.

Options contracts contain units of the underlying asset, often in the 100s. Hence, what you end up paying is the options price for a share multiplied by 100 or more. The best app for options trading outlines this aspect clearly.

Your profit from options trading is the difference between the strike price, final stock price, and premium.


The best options trading app adheres to industry regulations from international and national regulatory bodies. These regulations are made to protect traders and online brokerages. They also provide the basis for deposit insurance in the event of a data breach.

Keep the following in mind when working with your preferred broker:

  • Securities and Exchange Commission: This body regulates all options trades that involve stocks or indices. The Federal Industry Regulatory Authority (FIRA) is another body that provides regulations for the industry.
  • The Options Clearing Corporation (OCC): This body acts as a guarantor and an issuer for options contracts. It operates under the Commodities Futures Trading Commission (CFTC). 
  • Anti-money laundering regulations: The best options trading app must abide by anti-money laundering regulations. That means providing features that prevent traders from using the platform to funnel money out of the United States.
  • Know your customer (KYC): You must verify yourself on the best app for options trading. This is standard procedure, involving the submission of your passport, IDs, and utility bills.
  • Margin requirements: This regulation requires that you have a minimum amount of money before trading options on margins. The best app for options trading offers lower margins. Others allow fractional ownership of options.
  • Tax regulations: The United States can have tax on capital gains from options trading. Ensure you review all tax regulations in your region before trading.
  • Brokerage regulations: The best app for trading options often has flexible rules. Notwithstanding, review all the rules to know what is required of you when using the platform.

Our recommendations for the best options trading app for beginners offer demo accounts. Use that until you’ve learned all the regulations required for real-money trades.

Options Assets

As defined in the previous section, options trading involves underlying assets. Depending on which platform, you can trade on stocks, forex, or commodities. However, stocks and forex are more popular because of their volatility, which favors options trading.

Price movement

Our recommendations for the best app for trading options support various assets and securities. ETFs and cryptocurrencies can also be traded using options.

Commodities that can be traded include gold, metals, oil, etc. However, these are traded using futures.

You might find the best app for options trading that doesn’t support direct trading with these assets. CFDs are often used to allow options trading. The major difference is that you don’t own the contract.

You can only speculate on the future changes to the contract. Get your speculations right, and you profit from them. Plus500 is the best app for options trading through CFDs.

Trading Tools and Features

The best app for trading options offers tools and features for easy operations. You can refer to eToro for its multiple platforms that are compatible with mobile devices. The prominent tools and features you’ll likely find on the best app for options trading include the following:

  • Risk management tools: These allow you to review the underlying risks of buying an options contract. Some apps provide stops, like loss stops, to prevent excessive losses. Other risk management tools include price alerts, which are similar to what stock alert services provide.
  • Copy trading tools: These are essential features in the best options trading app for beginners. They let you follow the trades of other successful traders. You can use these tools, but be prudent and don’t rely entirely on them.
  • Probability tools: You can use these to weigh the risk of trading an option against its potential returns. Some trades may have high returns, but the risks may be above your tolerance levels. Charles Schwab is ideal for this approach.
  • Watchlist: Instead of diving head-on into a trade, you can monitor how it performs. This feature from Robinhood allows you to save option trades and monitor their outcomes. Once the results are satisfactory, you can deposit real money for them.
  • Charts: This feature makes IG App the best app for trading options with technical charts. However, you must be an expert to understand charts and perform analysis. 

The essence of trading tools is to make informed decisions. Use as many tools as you need, but don’t be overwhelmed. Also, opt for the best app for options trading that brings these tools to mobile devices.

Mobile App and Device Compatibility

You need a robust trading app that offers advanced tools for mobile users. You may not have time to use a PC, especially with the volatile nature of stocks or forex. Hence, your smartphone becomes the best bet to keep up with price movements and exercise the contract at the right time. 

Find the best options trading app that is compatible with Android and iOS. Also, check the responsiveness of the pages on the mobile web browser. With options trading comes the need for quick trade executions.

The recommendations on this page are excellent for mobile trading. Those with stock alert services can notify you through your smartphone. Ensure you allow notifications for them, whether by email or push notifications.

Options Trading Strategy

Different market conditions call for different strategies. Robinhood is the best app for trading options with a strategy builder. The customizations will allow you to shape your strategy according to market conditions.

You can have a stable stock market or a volatile one. The following strategies are helpful when dealing with these conditions:

Flat Market Options Trading

This approach applies when market conditions remain fairly stable over a specific period. The range for fluctuations is not ideal for trading high-risk stocks. If that happens, use the following strategies:

  • Boundary/range trading: This strategy first identifies the upper and lower limits within which the price fluctuates. Binary option contracts are the best bet in this strategy. The key is predicting that the market will remain flat.
  • With binary options, you can have in-the-money or out-of-the-money. The former favors buyers if the outcome moves toward 100, while the latter favors sellers if the outcome moves toward 0.
  • Iron condor strategy: This strategy involves selling or buying four different options contracts. These will include two put options and two call options. The contracts on both sides should have one with a higher strike price and one with a lower strike price.
  • The put spread will limit the risk, while the call spread boosts potential profits. Ensure you use the best app for options trading when implementing this strategy.

Risk management

Momentum-Based Options Trading

This approach applies when you expect strong price movements within a short period. The key is to buy during the uptrend and sell before the assets lose momentum. A few strategies in this approach include the following:

  • Market waves: This strategy involves quick movements. You must jump to the next wave before the current one crashes, while buying during uptrends and selling during downtrends. Use the best app for options trading that provides daily stock alerts.
  • Richard Driehaus: This strategy involves selling losers and reinvesting the money into winning contracts. Again, speedy execution is essential. Pick the best app for options trading with full mobile compatibility to trade on the go.

Best Options Trading App – Plus500 Tutorial

If you are ready to start trading options, Plus500 is an ideal place to start. You can open an account within minutes, fund it, and start trading. Alternatively, you can start with the demo account to learn how options work before using your actual money.

Plus500 is our top pick for beginners in options trading. It is the perfect platform for Android and iOS users. If you trade more with your smartphone, Plus500 will give you convenience.

Follow the steps below to get started on the Plus500 trading app:

Plus500 registration

Step 1: Go to the Plus500 website and open an account

You can register on the website or use the mobile application. Go to the website and click “Start Trading Now” to open a new account. Alternatively, click “Try Free Demo” to use the demo account. Plus500 will provide $40,000 for your demo account.

If you are registering with the mobile app, ensure you download it from the website. That ensures you get the original version.

Step 2: Fill in your details

Plus500 requires a few details to get you started. Enter your active email address and create a strong password.

In addition, you can create an account using your Google, Facebook, or Apple account. This approach will autofill your details for quicker registration.

Step 3: Log into your Plus500 account

You will receive an email notification if your registration is successful. Go back to the website and log into your account.

Step 4: Verify your account

Go to your account and click “Verify.” You must submit specific documents to verify your identity for security purposes. Proof of your residential address is required.

Step 5: Fund your account

Click “Funds” on the left side of your dashboard. Go to deposit and pick your preferred payment options. Plus500 supports credit cards. Complete the payment process.

Step 6: Buy and start trading

Go back to the trading window. Browse the options and pick the one you are interested in. Buy the contract.

Best Options Trading App – Conclusion

The best options trading app provides tools to trade options contracts on the go. This approach does not require owning the assets. Of course, that will require more money.

Instead, you can trade the options contracts on assets and still profit. Some apps allow leverage in trades, giving you more than your deposit. Assets for options trading include stocks, cryptocurrencies, forex, commodities, etc.

Ensure you register with a licensed online brokerage. We’ve listed several apps on this page. Nevertheless, sign up with Plus500 today and start with the demo or deposit for real-money trades.

 Your capital is at risk



What is the best option trading app for beginners?

What is the easiest platform to trade options?

What is the best for option trading?

What app can I do options on?

Jeremiah Awogboro

Jeremiah Awogboro

Jeremiah Awogboro is an experienced content writer with over 8 years of experience. He has a qualified MBChB degree and a keen interest in the stock market and the finance industry. His background in the industry has provided him with valuable experience in this field. Awogboro is dedicated to assisting and reaching out to as many people as possible through his writing. In his spare time, he enjoys music, football, traveling, and reading.