EOption review

Trade options and hone your strategies with powerful research tools, but it might not be the best platform for beginners.

EOption is an options trading platform that also lets you trade commission-free stocks and ETFs. But because options trading can be particularly risky, it may not be the best choice for beginner investors.

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Option trade fee$1.99 + $0.10/contract
Asset typesStocks, Options, Mutual funds, ETFs
Account typesBrokerage, Retirement
Mutual fund trade fee$5
Minimum deposit$0

What we think of EOption

As the name suggests, EOption is a brokerage designed for options traders. It comes with a simple web-based platform, which can trade complex options strategies as well as other instruments like stocks and ETFs.

If you’re a high-frequency trader, don’t despair. EOption offers direct access trading via two other platforms: Sterling Trader Pro and DAS|Web. However, these can be quite expensive for the average trader. The first platform costs $230 per month, while the second is $130 per month.

But the biggest draw for this brokerage is the options commission, which stands at $0.10 per contract plus $1.99 per trade. If you’re trading multiple contracts per trade, this can be a solid deal.

For comparison, thinkorswim — another excellent options trading platform — charges $0 per trade, but $0.65 per contract. If you trade 50 contracts per trade, you would pay $6.99 with EOption and $32.50 with thinkorswim.

Aside from options, you can trade commission-free stocks and ETFs, plus bonds and mutual funds. But since EOptions charges multiple fees, such as $50 annual inactivity fee and between $15 and $100 annual fee for your IRA — it may not be the cheapest option for long-term traders and investors.

Automated trading

EOptions offers an automated trading feature that lets you use newsletter trade alerts to automatically execute stocks and options trades. Despite being automated, you have full control over your account and can set parameters or stop the service at any time. If you don’t have the time to do the trading yourself, this can be a useful feature.

Who is EOption best for?

EOption is best for active options traders who want access to robust research and analytics tools.

  • Options traders: EOption stands out from the competition by letting investors trade options for only 10 cents per contract and $1.99 per trade. Other brokerages charge much more per contract. The per-trade fee may be high, but the platform makes up for it by offering powerful research features.
  • Experienced investors: EOption is geared toward options traders, who are usually sophisticated investors. It also offers a wealth of research tools, including OptionsPlay, which lets you search for technical buy and sell signals.

While useful, EOption’s research features may be a bit overwhelming for the novice investor.

What are the benefits of EOption?

EOption offers a variety of benefits for options traders and sophisticated investors. Here are some highlights:

  • Low fees: EOption charges no commission fees on stock and ETF trades. Its options trading fees are extremely competitive.
  • Research tools: EOption gives investors access to real-time quotes, charts, research and market news. Its free OptionsPlay tool provides investors with historical data on thousands of stocks. It also helps investors develop options trading strategies.
  • Paper trading platform: EOption offers a free demo platform that lets you test strategies without spending a dime. You’ll have $100,000 of virtual money to practice with.
  • Mobile trading: Trade stocks, ETFs and options directly from an app that also offers market data and research.

What to watch out for

While EOption offers several notable benefits, it has its drawbacks.

  • Fees can be high in some cases. While options trading is just 10 cents per contract, it also costs $1.99 per trade. That per-trade fee is considerably higher than it is for many other brokerages, so frequent options trades can add up. Other brokerages like Gatsby and Robinhood also offer commission-free options trading.
  • Limited investments. You can’t trade cryptocurrency or commodities with an EOption account.
  • High mutual fund fees: EOption charges $5 on all mutual fund trades. Other brokerages like Fidelity offer mutual funds with no transaction fees.

EOption reviews and complaints

There aren’t many EOption user reviews out there. One negative review on Trustpilot highlighted that the platform rejected an application. However, many financial websites give EOption good reviews and highlight the benefits it can offer to active options traders.

BBB ratingN/A
BBB accreditedNo
BBB customer ratingN/A
Trustpilot score3.4/5 out of 3 customer reviews
Google Play app3.4/5 stars based on 58 reviews
Apple app store4.3/5 stars based on 83 reviews
Customer reviews verified as ofFebruary 2022

How do I get started?

To open an EOption account, follow these steps.

  1. Visit the EOption website and choose Open an account.
  2. Provide your email address and create a password.
  3. Wait for your application confirmation, which takes up to 48 hours, and follow the next steps in the email.


  • Citizenship requirements: US citizens can open an account online. International customers can download a paper application and view important information regarding the process.
  • Net worth requirements: International customers need a minimum of $25,000 equity in US dollars, US exchange-traded securities or any combination of either.
  • Residency requirements: US citizens living stateside can apply online. If you’re a permanent resident of the US with a Green Card, also known as a Permanent Resident Card, email customer support at support@eoption.com. US citizens living abroad should do the same.
  • Minimum deposit: No minimum is required to open an account.

Required information

You will need to provide some personal information before opening an EOption account.

  • Name, date of birth and a physical mailing address. PO boxes are not accepted.
  • Social Security number or Individual Tax ID
  • Your employer’s name, address and phone number
  • Driver’s license or other identifying documents.
  • Net worth, annual income and occupation
  • Investment experience, objectives and risk tolerance

I’ve signed up with EOption and made my first trade. Now what?

After you’ve made your first trade with EOption, there are plenty of features you can explore.

  • Check OptionsPlay to develop options trading strategies
  • Customize the desktop interface to make the most of EOption’s research and trading tools
  • Analyze stocks and ETFs to diversify your portfolio

EOption customer service

Here’s how to get in touch with EOption customer service.

  • Live chat: visit EOption website, choose Open account and select the Chat tab
  • Mailing address: 950 Milwaukee Ave., Ste. 102, Glenview, IL 60025

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