The Australian options trading landscape has matured significantly over the past several years, with the S&P/ASX 200 establishing itself as one of the more resilient developed-market indices and Australian retail investors gaining access to increasingly sophisticated derivatives offerings.
As a major financial centre and G20 member, Australia offers many opportunities and reasons for retail investors to consider options trading. There are well over a dozen online stock brokers to choose from, ranging from established global names with full ASIC authorisation to specialist derivatives platforms.
We saw the need for a clear guide on options trading in Australia – one that summarises the leading brokers, their genuine strengths, and where they fall short. This article delves into our top picks for 2026 and explains the reasoning behind each. Let’s get to it.
What makes a good broker for options trading in Australia?
Options brokers in Australia operate to high standards set by global derivatives markets, particularly the US. Many popular US-based options platforms like Robinhood aren’t available to Australian residents, so local investors need to focus on platforms regulated by ASIC (the Australian Securities and Investments Commission) or international brokers with strong Australian operations.
The best options brokers in Australia typically share these key qualities:
- Low account or trading minimums: accessible entry points for new options traders;
- Competitive and transparent fees: clear per-contract commissions, with no hidden charges;
- Wide product range: options on ASX-listed shares, US options (especially on major indices and stocks), and ideally index/futures options;
- Robust trading and analytical tools: options chains, payoff diagrams, Greeks, implied volatility data, and multi-leg strategy builders;
- Real-time market data and alerts: news feeds and customisable price/volatility alerts;
- Educational resources: dedicated options education, especially for understanding the Greeks and risk management;
- Real options vs CFDs on options: the ability to trade real exchange-listed options (not just CFDs designed to mimic options), which is a meaningful structural distinction (more on CFDs vs real shares);
- ASIC regulation: ensures investor protection under Australian law, including segregation of client funds and the ability to access the Australian Financial Complaints Authority (AFCA) for disputes.
Not every options broker meets all these criteria, but these are the factors that distinguish the genuinely best platforms from the rest.
The Best Options Brokers in Australia
Interactive Brokers | The globe’s award-winning default broker
With a history spanning more than 45 years (founded 1978) and S&P 500 membership since 2024, IBKR remains one of the most trustworthy brokers globally and the default professional choice in Australia (ASIC-regulated, AFSL 453554). For options, there is a per-contract fee of up to USD 0.65 for US options and up to AUD 2.20 inclusive of GST for ASX options. Interactive Brokers also offers IBKR GlobalTrader, a modern mobile trading app for options, stocks, and ETFs – ideal for novice investors.
Saxo Markets | Premium, higher-cost broker delivering exceptional research
A subsidiary of Saxo (rebranded from Saxo Bank, now part of J. Safra Sarasin since 2025), Saxo Markets Australia (ASIC-regulated, AFSL 280372) offers an excellent product range for Australian residents – including ASX-listed options, US options, forex options, commodities, futures, and more. Standout strengths include institutional-grade research and the multi-asset SaxoTraderPRO/SaxoTraderGO platforms.
tastytrade | Excellent discount broker, but US-focused
Tastytrade (formerly Tastyworks) was founded by the original creators of thinkorswim and stands out as an options-first broker focused on retail traders who want to hone their craft. It offers options, futures, stocks, ETFs, and crypto at USD 1 per contract to open, USD 0 to close, with a USD 10 cap per leg. The main caveat: tastytrade is US-based (SEC/FINRA-regulated), so Australian residents should verify eligibility before opening an account.
TradeStation | Celebrated online broker catering to active traders
TradeStation International, the UK-based counterpart to the established US TradeStation, remains a top choice for active options traders in Australia. They charge a competitive USD 0.60 per contract plus a flat USD 5 per trade fee, with advanced options analytics through OptionStation Pro. Best suited to intermediate-to-advanced traders.
Tiger Brokers | Great for “DIY” traders
A popular choice for retail traders across Asia-Pacific, Tiger Brokers (AU) Pty Limited is ASIC-regulated (AFSL 300767) and focuses on an intuitive platform with strong execution. Pricing is competitive at USD 0.95 per contract, with strong access to US, Hong Kong, Singapore, and ASX markets.
| Options Broker | Commission per Contract | Best for |
| IBKR | Up to USD 0.65 (US) or AUD 2.20 (AUS) | All-rounder |
| Saxo Markets | From USD 1.25 (Classic tier) | Research and multi-asset |
| tastytrade | USD 1 (to open; USD 0 to close) | Low fees and options education |
| TradeStation | USD 0.60 + USD 5 per trade | Active traders |
| Tiger Brokers | USD 0.95 | DIY traders, Asia-Pacific markets |
1# Interactive Brokers
IB at a glance
A subsidiary of NASDAQ-listed IBKR (S&P 500 since 2024), Interactive Brokers Australia echoes its parent’s world-leading strength, offering, and product range – options included. It has earned the trust of options traders and the top spot on our list of the best options brokers in Australia through its commitment to global market access and robust risk management.
The platform serves both institutions and individuals, beginners and professionals, by marrying global access to nearly all available asset classes – options included – with an accessible web platform and streamlined mobile apps. In particular, IBKR GlobalTrader stands out for simplified stock and options trading, and is well-suited to newer Australian investors.
IBKR charges a competitive commission of USD 0.65 per contract for US markets or up to AUD 2.20 per contract for Australian markets, with zero account opening fees and no minimum activity fees. New users can also claim a free stock.
Interested? Read our comprehensive IBKR review.
2# Saxo Markets
Saxo at a glance
62% of retail CFD accounts lose money.
Our runner-up, Saxo (formerly Saxo Bank, now part of J. Safra Sarasin since 2025), is a deeply research-oriented broker with a track record, like IBKR, spanning decades. It caters to all experience levels through several platforms, but its focus on premium perks and design works best for intermediate-to-advanced options traders.
For most traders, SaxoTraderGO will be the natural choice, while professional or daily traders may prefer SaxoTraderPRO. SaxoTraderGO is an award-winning platform that blends the sophistication of desktop-based trading with a powerful mobile app for 24/7 coverage.
Saxo’s tiered pricing structure spans three account levels. The basic Classic tier now has a $0 minimum deposit (eliminated from the previous AUD 1,000 requirement) and charges from USD 1.25 per US options contract and AUD 3 per Australian contract. The VIP tier charges from USD 0.75 and AUD 1 respectively, with a higher portfolio minimum.
3# tastytrade
tastytrade at a glance
Based in the US, tastytrade is an options-focused brokerage that caters to “do-it-yourself” traders who avoid algorithms or robo-advisors. It offers access to stocks, options, futures, indices, commodities, ETFs, and cryptocurrencies. Notably, the platform was built by the same engineers behind thinkorswim (now part of Charles Schwab following the TD Ameritrade integration).
Tastytrade provides a comprehensive trading platform across both desktop and mobile interfaces. There is a learning curve, however – beginners should first understand the basics of options Greeks (delta, gamma, theta, vega) before diving in. Once past that, the platform allows you to follow leading and popular options traders.
For stock options, tastytrade charges USD 1 per contract to open and USD 0 to close, with a USD 10 cap per leg. Pricing is fully transparent, with each fee detailed clearly. The platform is competitive, but lacks the research and educational depth of IBKR – and doesn’t offer access to Australian stock options.
4# TradeStation International
TradeStation at a glance
TradeStation International is the UK-based counterpart to the well-known US broker known for providing a strong active-trader experience. TradeStation has earned recognition such as a “Top 5” ranking for options brokers from Investor’s Business Daily.
TradeStation International focuses on more volatile asset classes for active traders, including options, futures, IPOs, and bonds. While the platform is strong enough to be considered one of Australia’s best options brokers, it ranks 4th on our list due to higher fees and a lack of access to ASX stock options. It charges USD 0.60 per option contract plus a USD 5 flat fee per trade.
It compensates partially with built-in real-time market data, no minimum funding requirement, and OptionStation Pro – a powerful tool for trading options that includes building options chains, analysing multi-leg strategies, and instant execution. We recommend TradeStation International if you want to focus on US-based options and futures.
5# Tiger Brokers
Tiger Brokers at a glance
Tiger Brokers, one of Asia-Pacific’s most popular discount brokers for retail and institutional investors, is our wildcard pick for options trading in Australia. Like TradeStation International, it doesn’t provide access to ASX stock options – covering US and Hong Kong markets instead.
Its pricing is competitive at USD 0.65 per contract for US stock options, and slightly higher for Hong Kong stock options at 0.2% of trade value. The broker acknowledges this in its own fee classifications.
Tiger Brokers focuses on execution and ease of trading, and the platform succeeds on both fronts. Beyond options trading, it also serves as an international fund broker for investors who deposit at least USD 100 – an ideal choice for active traders who don’t necessarily need deep research and prefer to keep cash deposits in funds rather than idle.
Bottom line
Options trading is alive and well in Australia, with multiple world-leading providers and competitive fees. Not all options brokers permit trading on the ASX, but many Australian traders may prefer to operate primarily in US dollars given the depth of US options markets. We’ve narrowed down the selection to five leading choices based on our criteria.
Each of our recommended options brokers excels in certain areas. Want a focus on US options and futures combined with strong options education? Tastytrade. Prefer an established global platform known for reliability and low fees across all asset classes? IBKR. Looking for research depth and a multi-asset platform? Saxo Markets. Active trader with advanced analytical needs? TradeStation. DIY trader interested in Asia-Pacific market access? Tiger Brokers. Need more recommendations?
Check out our BrokerMatch finder.
FAQs
Can you buy options in Australia?
Absolutely! Australia is one of the world’s leading economies and financial centers. However, options brokers are often limited to following US-based stocks or futures.
What is an options broker?
Usually related to “full-service brokers” that try to provide all the necessary tools for an intermediate or professional trader, an options broker is an online intermediary between you and the exchanges that enables the trading of options. The best options brokers in Australia offer stock options, futures, and options on futures.
Can you trade options on IG?
No, you cannot trade real options on IG. With IG, you’ll trade options using CFDs, which are contracts for differences and give you indirect exposure to options (more about it on the differences between CFDs vs real shares).
How do you open an options trading account?
While the process changes per options broker, it remains relatively straightforward. Simply be ready to provide digital copies of official IDs (i.e., passport, driving license, etc.) and proof of address, and transfer an opening sum through ACH or wire, for example. The options broker, like IBKR, may want to verify your age as well.
How do you buy options?
Thanks to advances in web and mobile trading platforms, trading options remains largely intuitive. Almost all mobile apps guide you through the purchase (opening) process and the selling (closing) process. Web platforms may have a learning curve and require an introductory tutorial. This is the case for some users who use IBKR, for example.
However, we recommend at least a beginner options course to walk you through calls, puts, strategies, opening, closing, and margin trading.
What are the risks of buying, trading, and selling options?
Since options trading almost always includes the use of margin or borrowed funds, the risks generally are much greater than trading stocks or commodities with only the cash you own. This is referred to as leverage. Again, we recommend completing a basic course in options trading, which is provided by brokers like IBKR or Saxo Markets.
