Broker Options Trading Commissions

Updated Thursday, March 10, 2011

Option Trading Commissions
Click on the broker name links to go to each broker's commissions and fees page.  Click on the red links in the far right column to receive special discount offers.

BrokerOption CommissionsSpecial Offers and Notes
Interactive Brokers$0.70/contract (minimum $1)North American trading fees are $0.70/contract with a minimum commission of $1.  Trade 10,001 - 50,000 contracts a month and this is reduced to $0.50/contract and lower for greater volumes.  Different fees apply for  exchange outside of NA or different order routing options. Click here for further details.

Minimum $10 in commissions per month, so charges will be applied if that level is not met
optionsXpress$1.50/contractLearn how you can get $100 when you open up a new optionsXpress account and be in the money from the start.

Minimum $14.95 commission per order. For those that execute 35+ trades/quarter, commissions are $1.25/contract with a $12.95 minimum commission.
eOption$3.00 + $0.10/contractOption rates apply to each side of spread orders. Option strategies involve multiple purchases; therefore your transaction costs may be significant for option strategy trades.
Zecco$4.95 + $0.65/contractNew $4.95 + $0.65/contract commission (up from $4.50 + $0.50/contract) goes into effect on March 30, 2011
TradeKing$4.95 + $0.65/contractSwitch to TradeKing and get up to $150 in transfer fees reimbursed

For 8+ contracts, commissions are automatically adjusted to $8.95 + $0.15/contract

Multi-leg orders, such as straddles and condors, pay only one base charge for the entire trade

Short options values at $0.05 or less can be closed out free of charge.  This does not apply to multi-leg orders.
SogoTrade$5 + $0.65/contract
Firstrade$6.95 + $0.75/contract Get 250 commission-free equity trades, up to $100 transfer fee rebate and $250 cash rebate at

Two-legged complex option orders are charged a single commission but contract fees are charged on each leg.
Scottrade$7 + $1.25/contract
Fidelity$7.95 + $0.75/contractMulti-Leg Option orders are charged only on base commission, plus a per contract charge for the total number of contracts executed in the trade
OptionsHouse$8.50 + $0.15/contractGet 100 Commission-Free Trades at

Separate pricing plan available which is $1/contract up to 5 contracts per trade

Separate spreads pricing plan: $1/contract up to 10 contracts, otherwise $12.50 + $0.15/contract.

Trade up to 4,000 contracts per trade; trades in excess of this require multiple order tickets and will be billed as separate orders. Flat commissions may not apply outside certain risk parameters.
Merrill Edge$8.95 + $0.75/contract$8.95 + $0.75/contract when <$250,000 in assets; $6.95 + $0.75/contract when $250,000 - $1m in assets; $4.95 + $0.75/contract when $1m+ in assets
Schwab$8.95 + $0.75/contractTwo-legged online option orders such as spreads, straddles, combos and rollouts are charged only one $8.95 base commission , plus per contract fees for the total number of option contracts. Complex option orders involving both an equity and an option leg, including Buy/Writes or Write/Unwinds are charged per contract fees for the option leg, plus commissions for the equity leg subject to the client's current commission schedule.There is no base commission for the option leg.
WellsTrade$9.95 + $1/contract
ShareBuilder$9.95 + $1.25/contract$7.95 + $0.75/contract for Advantage Account holders
TD Ameritrade$9.99 + $0.75/contract
E*TRADE$9.99 + $0.75/contract$7.99 when executing 150+ trades/quarter
Vanguard$30 + $1.50/contract$8 + $1.50 per contract for account balances $1m+
thinkorswimvariablethinkorswim offers three option trading commission plans or as a fourth option they will match most major web-based brokers' rate plans.  Click here for the full details.

Option Exercise and Assignment Commissions

BrokerExercise / Assignment CommissionsSpecial Offers and Notes
Interactive BrokersNoneCommissions are not charged for US exercise and assignment
Fidelity$7.95 + $0.75/contractSelling shares obtained through exercising an option: no charge. Maximum charge: 5% of principal.
Merrill Edge$8.95 + $0.75/contract$8.95 + $0.75/contract when <$250,000 in assets; $6.95 + $0.75/contract when $250,000 - $1m in assets; $4.95 + $0.75/contract when $1m+ in assets
Schwab$8.95 + $0.75/contract
TradeKing$14.90$9.95 for exercise and $4.95 for assignment
Firstrade$16.95Two-legged complex option orders are charged a single commission but contract fees are charged on each leg.
TD Ameritrade$19.99
Vanguard$30 + $0.015 per-share$8 + $0.015 per-share for account balances $1m+
ShareBuilder$40$20 for exercise and $20 for assignment

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