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 brokers to choose from, 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 covers our top picks for 2026 (updated October 2026) and explains the reasoning behind each.
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 August 2025, 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, while ASX stock options start at AUD 0.275 per contract (minimum AUD 2.75 per order) and ASX index options cost AUD 2.20 per contract, inclusive of GST. Interactive Brokers also offers IBKR GlobalTrader, a mobile app for options, stocks and ETFs that suits newer investors.
Totality (formerly Saxo Australia) | Premium multi-asset broker built on Saxo’s technology
Saxo’s Australian business rebranded to Totality on 11 August 2025, after SCM DMA Pty Ltd took an 80.1% stake (Saxo Bank keeps 19.9% and remains the trading and technology provider). Totality Wealth Limited (ASIC-regulated, AFSL 280372) offers 2,900+ listed options alongside stocks, ETFs, bonds, futures, forex and CFDs, with no minimum deposit and three platforms: Totality Core, Edge and Apex.
TradeStation | Celebrated online broker catering to active traders
TradeStation International, the FCA-regulated UK counterpart to the established US TradeStation, is a strong choice for active options traders. It charges USD 0.80 per contract for single-leg options at the first volume tier (lower above 500 contracts a month) plus a flat USD 5 per trade, with advanced options analytics through OptionStation Pro. Best suited to intermediate and 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. US options start at USD 0.55 per contract on its tiered plan (a minimum per order applies), with access to US, Hong Kong, Singapore and ASX markets.
| Options broker | Commission per contract | Best for |
| IBKR | Up to USD 0.65 (US), from AUD 0.275 (ASX stock options) | All-rounder |
| Totality | USD 2.00 (Classic tier), USD 0.75 (Totality First) | Research and multi-asset |
| TradeStation | From USD 0.80 + USD 5 per trade | Active traders |
| Tiger Brokers | From USD 0.55 (tiered, minimum per order applies) | DIY traders, Asia-Pacific markets |
Commissions as published on each broker’s website in October 2026. Exchange and regulatory fees may apply.
1# Interactive Brokers
IB at a glance
A subsidiary of Nasdaq-listed IBKR (part of the S&P 500 since August 2025), Interactive Brokers Australia shares its parent’s financial strength 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 combining global access to nearly all 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 up to USD 0.65 per contract for US options. ASX stock options start at AUD 0.275 per contract (minimum AUD 2.75 per order) and ASX index options cost AUD 2.20 per contract, GST included. There are no account opening or minimum activity fees. New users can also claim a free stock.
Interested? Read our comprehensive IBKR review.
2# Totality (formerly Saxo Australia)
Totality at a glance
62% of retail CFD accounts lose money.
Our runner-up, Totality, is the former Saxo Capital Markets (Australia). Since 11 August 2025 it has operated under the Totality brand, 80.1% owned by SCM DMA Pty Ltd with Saxo Bank keeping a 19.9% stake and continuing to provide the trading technology and liquidity. Existing client accounts were not affected by the change.
It is a research-oriented, multi-asset broker that caters to all experience levels, but its premium features work best for intermediate and advanced options traders. It offers more than 2,900 listed options, plus stocks, ETFs, bonds, futures, forex and CFDs, through three platforms: Totality Core (account hub), Totality Edge (the multi-device flagship) and Totality Apex (an institutional-grade desktop station).
There is no minimum deposit. Listed US options cost USD 2.00 per contract on the Classic tier and USD 0.75 on Totality First, so pricing rewards larger accounts.
3# 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. It acts as an introducing broker, with accounts held at TradeStation Securities in the US or Interactive Brokers (U.K.).
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 3rd on our list due to higher fees and a lack of access to ASX stock options. It charges USD 0.80 per single-leg contract at the first volume tier (falling to USD 0.60 above 500 contracts a month) 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.
4# 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 options instead.
US options start at USD 0.55 per contract on its tiered plan, falling with monthly volume, and a minimum charge per order applies.
Tiger Brokers focuses on execution and ease of trading, and the platform succeeds on both fronts. Beyond options trading, it also offers access to funds, which suits active traders who don’t need deep research and prefer to keep cash invested rather than idle.
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. Several popular US-based options platforms aren’t available to Australian residents (see our article on Robinhood in Australia), and tastytrade stopped serving Australian accounts in 2026, 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.
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 the selection down to four leading choices based on our criteria. Note that tastytrade, which featured on earlier versions of this list, stopped serving Australian residents in 2026: accounts were set to closing only, and remaining positions had to be transferred or closed by 1 October 2026.
Each of our recommended options brokers excels in certain areas. 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? Totality. 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?
Yes. Exchange-traded options on Australian shares and indices are listed on the ASX, and brokers such as IBKR and Totality give access to both ASX and US options. Some brokers only offer US options.
What is an options broker?
An options broker is an intermediary that gives you access to exchange-listed options, along with tools such as options chains, payoff diagrams and the Greeks. The best options brokers in Australia offer ASX and US stock options, index options and often 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 (see the CFDs vs real shares guide linked above).
How do you open an options trading account?
While the process changes per options broker, it remains relatively straightforward. Be ready to provide official ID (such as a passport or driver licence) and proof of address, and to fund the account by bank transfer. Brokers also ask about your trading experience and finances before approving options trading, and may limit you to simpler strategies at first.
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?
Options are leveraged instruments: a small premium controls a much larger position. If you buy options, you can lose the whole premium if they expire worthless. If you sell (write) options, especially uncovered ones, losses can far exceed the premium received, and margin is required. Again, we recommend completing a basic course in options trading, which brokers like IBKR offer.
