Contributor, Benzinga
March 19, 2020
Overall Rating:
securely through eOption's website

eOption is a stock, fund and option trading platform that focuses on low-cost options trading. Its options trading is very affordable at just $0.10 per contract and $1.99 per transaction. The broker also offers a comprehensive options trading course that’s free and educational for both novice investors and advanced traders alike. eOption’s platform is less usable than its competitors, especially for new traders.

Futures and forex trades aren’t currently available, daily market updates are full of jargon and the platform includes very few intuitive features and explainers. Customer service options are also lackluster, and mutual fund transactions are expensive. While eOption might be a great choice for options traders, we recommend other platforms for beginner traders primarily interested in stock and ETF investing.

Best For
  • Options traders looking for low-cost options contracts
  • Beginner and advanced traders looking for options education
  • Advanced traders who don’t need a lot of platform guidance
  • Unbeatable options contracts pricing
  • Mobile app that mirrors capabilities of desktop app
  • Free and comprehensive options education
  • Expensive mutual funds and bond trading

eOption Ratings at a Glance

Why eOption Over Others?

Should you trade with eOption? Let’s take a look at the 3 biggest benefits offered by eOption.

  • Most affordable options trading: eOption has the most affordable options trading on the market at just $0.10 per contract and $1.99 per transaction. If you purchase more than 4 contracts in a single transaction, eOption helps you save money.
  • Comprehensive options education: If you’re interested in learning more about options trading, it’s worth the time to check out eOption’s free options trading course. Covering everything from the absolute basics of options trading to advanced trading strategies and indicators, everyone can learn something.
  • $0 account minimums: eOption has eliminated its minimum account requirement, which means that you can start investing with as little as $1. 

eOption Pricing

Like most modern brokerages, eOption now offers $0 commissions on stock and ETF trades. As the name suggests, eOption’s claim to fame is its low-cost options purchases — you’ll pay just $0.10 per contract plus a base rate of $1.99 per trade. This is significantly lower than most competing brokerages, which charge upwards of $.65 per contract.  

Unfortunately, eOption’s other commissions are disappointing. Commissions on foreign stocks are very high, and the company charges a flat rate of $5 per mutual fund purchase. Let’s take a closer look at what you might expect to pay when you trade with eOption. 

Stocks and ETFs$0 commission on domestic stocks and ETFs; $39 per foreign stock
Options $0.10 per contract plus $1.99 per trade
Mutual fundsAccess to 500 mutual funds; $5 per mutual fund trade
Bonds$5 per bond on first 25 bond purchases, $3 per bond after the first 25
Account minimums$0

eOption also offers margin trading, and its margin rates are about on par with other brokerages like Fidelity. You’ll pay between 7.75% and 4.75% APR on any money you borrow on the margin, with the lowest rates being extended to traders who use $250,000 worth of margin. You cannot use margin funds to purchase stocks valued at $3 or less and you must have at least $2,000 and tradable securities before you can qualify for margin trading.  

eOption Usability

eOption’s platform is of average functionality, offering a few choice indicators and screening tools. The broker primarily gears its services toward more experienced traders, so few instructional tools are offered. However, eOption does offer a series of video tutorials you can use to learn more about how to place trades on the platform.

Instructional videos are available for single-leg options trades, multi-leg options trades, basic buy and sell orders, and basic charting features. There’s also a video tutorial available that introduces you to the absolute basics of how to navigate the platform and its tabs. Beyond that, you’ll need to explore the platform on your own time. This can quickly become frustrating and overwhelming for new traders or those who aren’t familiar with the standard set of tools offered by most brokerage accounts.

eOption’s platform instruction leaves much to be desired, offering traders little more than a basic series of webinars to help learn how to navigate the broker’s tools. 

One unique eOption feature is the broker’s automated newsletter recommendation trading. Here’s how it works — first, you’ll enroll in one of 60 participating newsletters. After authorization, eOption executes buy and sell orders recommended by your newsletter of choice. You can customize your auto-trading preferences after authorization, instructing eOption to only buy or sell a set maximum of shares, percentage of your cash-on-hand, or maximum number of contracts.

You’ll want to use this automated trading feature with caution — as soon as eOption’s system receives the buy or sell recommendation from your newsletter, the platform will execute the trade. This means that you likely won’t have time to review trades before they go live. If you read and follow a popular newsletter’s recommendations carefully, this feature can be a valuable time-saving asset. 

eOption’s Education

eOption’s educational offerings leave much to be desired, especially for new traders. Though the broker offers a variety of strategy educational explainers and corporate earnings reports, these tools are not very useful for new traders who are just getting started into the world of investing.

Let’s take a look at 3 features eOption offers traders who want to learn more about trading strategy and using the platform.

  • Options strategy and education: One area where eOption shines for beginners is its complete options training and education course. eOption offers a massive range of options strategy articles and videos that are equally useful to the absolute options beginner as they are to the seasoned veteran trader.

If you’re new to options trading, you’ll enjoy the “Getting Started” section, which covers topics like the basics of how options work, what leverage is and how it functions in options trading and long-term options trading. Advanced traders will enjoy eOption’s host of strategy explainers, which includes information on understanding and executing everything from short puts to naked calls. No matter how much experience you have trading options, you’re likely to learn something new from eOption’s options strategy center.

  • Webinars: Prefer to do your learning live? eOption offers live webinars on a variety of options topics. Past webinar subjects include the basics of options trading, using options to generate positive cash flow and managing risks with options trading. If you can’t make the webinar live, you can tune in later through eOption’s YouTube channel, which archives and catalogs previous webinars.
  • Daily commentary: eOption offers daily market updates that include information on some of the most volatile stocks, recommendations for daily trades, economic statistics and a general overview of the market. In many cases, market updates are offered multiple times a day with updated information. Though informative, these reports are generally geared toward more advanced traders — novice investors may have trouble understanding the reports offered, which are rife with technical jargon and unexplained market terms.

Though a bit lackluster when compared to other trading platforms and brokerages, eOption’s education offerings are available completely free. You don’t need to be logged into your account to start using them or learning, which means that you can benefit from them even if you use another brokerage to trade. 

eOption’s Customer Support

eOption offers 2 methods you can use to contact its customer service team:

  • By phone:  To get in contact with eOption by phone, call 888-793-5333. Representatives are available Monday through Friday from 8 a.m. to 6:30 p.m. EST. Phones are closed on all major market holidays.
  • By email

Currently, no specific customer service options are available for people with hearing limitations. 

eOption’s Offerings

eOptions allows traders to buy and sell options contracts, stocks, ETFs, mutual funds and bonds. The broker specializes in low-cost options trading.

Let’s take a closer look at the assets offered by eOption and what you can expect to add to your portfolio through this platform. 

eOption’s Stocks, ETFs and Mutual Funds 

eOption offers full access to the U.S. stock market, with over 10,000 stocks and ETFs available to trade with $0 commissions. Unlike some other brokers, all of eOption’s ETFs are available completely commission-free.

eOption also offers access to over 500 mutual funds. You’ll pay $5 per mutual fund transaction. It also offers bond trading for $5 per bond for the first 25 bonds you buy or sell. After this point, bond trades are charged at a flat rate of $3 per bond. 

eOption’s Options 

eOption specializes in affordable options trading. You’ll pay just $0.10 per options contract, plus a flat-rate fee of $1.99 per transaction. This is considerably more affordable than competing brokerages, which regularly charges $.65 per contract. 

eOption’s Mobile App

eOption’s mobile app is comprehensive, mirroring full capabilities of the desktop platform. Though the app is well-integrated from the web-based platform, eOption Mobile still suffers from the lack of technical explainers or education tools. If you’re overwhelmed by the desktop offering, you’ll likely also struggle to use eOption’s app. However, if you’ve started on the web-based platform and have gotten the general hang of how things work, you’ll see a smooth transition from desktop to mobile.

Let’s take a closer look at some of eOption Mobile’s key features:

  • Easy integrated trading: You can place stock, ETF and options trades on eOption Mobile using basically the same system as eOption’s desktop platform. You can even place advanced options trades (including multi-leg options trades) with just a few taps.
  • Fast and responsive interface: eOption’s mobile app updates in real time, giving you second-by-second updates on price changes. You can view current price, percentage change, total overall loss or gain, bid/ask volume and much more.
  • Live market news streaming: View live market news streams from numerous sources from your mobile phone.

eOption’s mobile app is available for iOS and Android platforms. The app is free to download on both. 


eOption vs Competitors

eOption is a low-cost platform primarily aimed at options traders. If you’re interested in entering the options market or you’re an experienced options trader looking for the most affordable way to trade options, you’ll love eOption. At just $0.10 per contract, there’s no way to deny that eOption offers the most affordable options trading on the market right now. Most competing brokers charge around $.65 per contract for options trading. Even considering the $1.99 flat-rate fee, if you purchase more than 4 options contracts in a single trade, you’ll save money. 

Both new and advanced traders will also benefit from eOption’s options strategy course, which covers everything from the absolute basics of what an options contract is to multi-leg trading strategies.

Unfortunately, eOption offers little else — especially for new traders. Its platform can quickly become overwhelming and confusing, with few instructional tools available. Mutual fund and bonds are expensive at $5 per trade, and its customer service options are nothing special.

Forex and futures trading aren’t currently supported, and beyond options trading, educational offerings aren’t impressive. While eOption might be the right platform for options traders, it isn’t recommended for most new traders or passive retirement investors. 

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Frequently Asked Questions


How do I fund an eOption account?


It is very simple to set up an incoming or outgoing transaction between your bank account and eOption account. To do this you will need to enter your banking information via Plaid.

User Reviews


How do you use this product to boost your finances?

Looking for best way to get back your lost bitcoin/investment then contact for all trading solution they are willing to help for free.

Cheryl Campbell

How do you use this product to boost your finances?

I don't yet, I'm just starting

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