eOption Review

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Andrew Hayward
eOption logo

eOption is a popular options broker that provides low-cost trades combined with fast, efficient execution.

eOption’s cost focused options traders don’t have to choose between price and quality, because eOption charges lower fees than other brokers while still offering resources to help users make efficient trade executions. eOption boasts an enviable set of available trading tools, including market news, charts, quotes, research features, watchlists, option chains, and more. The new, free eOption trader platform gives users convenient access to options trading. eOption is a great choice for active traders and those looking to make advanced options trades.

In my eOption review, I will explain how eOption’s trading platform offers an efficient trading environment and is extremely innovative with help from their mobile app.

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Why Choose eOption?

eOption’s trading platform offers the user an efficient trading environment to execute trades with a deep discount on commissions. Their business model is not based on charging high commissions for tools and features. They appreciate that many of their clients, beginner and advanced traders alike, have other accounts for their different trading needs.

eOption’s value proposition is based on filling the deep discount niche, offering clients the ability to realize immediate significant savings with their approach to options trading. They offer the most affordable options trading solution on the market for this type of options trade executions.

Options trading is eOption’s expertise, and their trading platform is tailored to meet every trader’s needs. eOption supports multiple direct access trading platforms for active traders.

eOption offers a full range of investment products and brokerage services to a broad range of customers worldwide. They leverage their their parent company, Regal Securities, Inc., to provide users with an affordable and unique investment experience. Their commitment is to smart investors who know what they want to trade.

eOption’s target customers are advanced active options traders and equities traders. Their customers are usually cost-focused, and are already knowledgeable about the investment landscape and trading strategies they wish to execute.

eOption Ratings


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  • Easy to use web based platform and mobile app
  • Great value for options traders- $0.10 per contract
  • Automatic trading based on user’s selection of a newsletter
  • Free access to Paper Trading platform


  • Not much education available for beginners
  • High account fees for foreign stocks
  • Limited range of offerings
eoption review

eOption Account Protection

eOption is a division of Regal Securities, Inc., a member of the Securities Investor Protection Corporation (SIPC). A client’s account assets are covered by the SIPC, which protects customers up to $500,000, with a limitation of $250,000 on claims of cash balances.

Additionally, eOption’s clearing firm, Hilltop Securities, Inc. “HTS” purchased Excess SIPC Insurance which covers the net equity of customers’ accounts up to an aggregate of $200 million from the underwriting syndicate of Lloyd’s of London.

Customer securities component, which restricts coverage with respect to any one customer, is a maximum of $25,000,000 with the aggregate coverage of cash set at $900,000. SIPC covers accounts of the member firm in the event of a member’s bankruptcy and insolvency. Coverage does not apply to losses due to market fluctuation or any decline in market value of the client’s securities.

eOption Trading Platform

Auto Trading

eOption’s innovative and trader-friendly trading platform includes access to automatic trading, one of eOption’s useful trading tools. Auto trading is based on the user’s selection in eOption’s live trading account and allows eOption users to receive automated trade alerts from a newsletter.

Selection is based on the user’s discretion, eOption does not suggest any particular newsletter as they do not have access to publisher track records or historical performance data. eOption automatically executes trade based on a particular newsletter. Users must be registered with a newsletter provider before starting to auto trade.

The client is responsible for choosing the maximum amount per trade based on dollar amount, number of contracts, and percentage of account value.

Paper Trading

eOption offers a free Paper Trading demo account for future clients and current eOption account holders. Users are given a virtual $100,000 to use in a simulated portfolio and test trading strategies. Paper Trading accounts for prospective clients expire after 60 days. Paper Trading is a free way to earn valuable trading and investment strategy knowledge.

Trading Fees and Rates

No Account Minimum.

There is no minimum deposit in the account opening process for US residents. This eOption review notes that trading costs are very affordable and competitive, at $0.10 per contract and $1.99 per transaction. This means that investors who frequently trade contracts end up paying a lot less in trading fees than if they were to go through other brokers. For international accounts, a minimum deposit of $25,000 is required to open an account. New international accounts must be funded within 60 days of opening or the account may be closed. As for margin rates, the base rate for account balances of less than $25,000 is 7.75%. For balances of $250,000 and above, the rate drops to 4.75%. Domestic stock and ETF trades traded on the stock market are commission-free. Mutual funds are not available through eOption. The fees for foreign stocks are up to $39 per trade, which is much higher than other brokers.

eOption app review

eOption Review – Mobile App

eOption’s iOS and Android apps make trading on-the-go an easy and convenient process. In the mobile app the user is able to instantly close or roll an existing position, and build an options trading strategy in the order ticket.

The mobile app supports stocks, ETF’s and options trading, streaming real-time quotes, market news, and charting. Most traders will most likely prefer using the more capable browser-based platform on the eOption website over the mobile app for their daily trading.


OptionsPlay: Joining eOption grants the trader free access to OptionsPlay, one of the advanced trading tools eOption offers. OptionsPlay eases the process of trading options. Some of the features are a daily analysis of stocks, options trading ideas and strategies, advanced search for buy and sell signals, and unbiased historical analysis.

eOption Education

eOption offers an extensive set of education materials; including blog articles, webinars, videos, and more. Their YouTube channel features a variety of helpful content, explaining everything regarding their platform. eOption’s website offers free lessons on the basics of options trades, investment advice, trade options and strategies at the user’s disposal.

Education is limited for beginner traders, and is more focused towards advanced traders. True beginners could find themselves lost even amongst the impressive collection of educational resources eOption offers. eOption gives advanced traders access to analyst reports, calendars of earning/economic reports, and a news aggregate service.

Although technically eOption offers retail investor accounts, the target investor is a professional or semi-professional options trader who is trading outside a brokerage firm or other RIA (Registered Investment Advisor).

The trading platforms assume a fairly extensive experience with options trades. Although active stock traders could use eOptions $0 stock commissions to trade stocks, the stock trading platform is not setup for extensive public securities analysis and trading.

Common questions I get asked about eOption

These are the most common questions I get asked about eOption, so I will try to answer these as best I can, to give you a better view on whether eOption is the right investment choice for you.

Who is eOption Bank owned by?

eOption is a division of Regal Securities, Inc., a member of the Securities Investor Protection Corporation (SIPC).

Is eOption a legitimate company?

eOption launched in 2007, but its parent company, Regal Securities, has been around since 1976.

Does eOption have Zelle?

Although eOption Bank does not have the Zelle integration directly on its platforms, users are able to use the application to transfer money quickly as long as you have a credit card from this bank and associate it with the application.

Does eOption have monthly maintenance fees?

The account comes with check writing privileges and debit card access and has no monthly fees that apply.

Does eOption limit withdrawals and transfers?

Federal law limits the number of withdrawals and transfers from all U.S. savings and money market accounts to six (6) transfers per statement cycle. For each transaction that exceeds this limit, users will pay a $10 fee. Business Deposit Account Agreement and Schedule of Fees or eOption’s customer service team can provide more information.

Does eOption charge any other fees?

There are $0 Monthly Maintenance Fees, $0 ATM Withdrawals, $0 Overdraft Fees, and $0 Returned Item fees. Only $0.10 per contract of each leg of an options trade.

Is eOption self-directed?

For several years, eOption Invest has operated as a low-cost robo-advisor option. But it has recently added support for Self-Directed Trading of thousands of stocks, ETFs, options, and mutual funds as well. That makes it more of a legitimate competitor to other stock brokers providing a full service.

Is eOption good?

While eOption is a good choice amongst online brokers for active options traders, you’ll have to look elsewhere if you want a forex trading account, futures, commodities, or crypto. For forex trading, a user may want to consider finding forex brokers that allow users to trade forex, an online broker, or other brokerage firms that offer these services. Also, it’s not the broker for you if you’re a passive (long-term) investor, or need assistance in understanding basic option strategies.

Is eOption’s auto trading easy to setup?

eOption trading automatically executes trade (Auto Trading) from the newsletter of your choice. Never miss a trading alert from your newsletter. Your newsletter trade alerts are also sent directly to eOption for Auto Trading.

Is eOption the best?

eOption offers options trades margin rates similar to other online brokers and their trading platforms (between 7.75% and 4.75% APR). Therefore, eOption is an excellent choice for active traders if you want to trade U.S. options, stocks and ETFs.

Is eOption legit?

eOption is a top broker for low-cost trading options trading, with $0.10 options fees per contract and $0 stock/ETF trades. The eOption Trader platform has options-oriented tools (including OptionsPlay), streaming real-time data and news, and customizable charts.

What is OptionsPlay score?

The OptionsPlay Score is a proprietary indicator evaluating the strategy and letting users know whether the level of risk they are taking is appropriate for the reward they may receive. An OptionsPlay score below 100 means users are potentially taking too much risk.

How do I fund an eOption account?

Accounts may be funded by check, ACH, wire transfer, stock certificate or account transfer. Money orders, third party checks, credit card checks, home equity line checks and starter checks are not accepted. Some checks may require a 3 business day hold. Cashier’s Checks must have the remitter’s name electronically printed directly on the check by the issuing bank. Wired funds are usually available to users upon their receipt of the funds.

What is the options expiration policy?

Expiring long and short option positions may be closed as early as 2:00 PM EST on the last trading day prior to expiration if users do not have the funds or buying power to buy or short the underlying security. eOption will allow customers to take action on their position until 3:30 PM EST but users must contact them with their intentions. Customers may still get assigned even if a short option is out of the money. Therefore, if there is risk to the account, short options may be closed out even if it is out of the money. The firm may close out positions without prior notice. The company may also elect not to exercise or close the resulting stock position in the aftermarket hours on Friday or pre-market hours on Monday.

eOption FAQs

What is the minimum requirement to use margin?

If your equity, the sum of all positions (except options) in the margin type and trade date balance, is below $2000 you must pay for your purchase in full and cannot go on margin. If you do not have the funds to pay for the purchase in full then you must deposit funds to satisfy the requirement, otherwise a liquidation to cover the debit and a 90 day restriction will apply. Another scenario is if you reduce your equity by buying option(s) which results in your equity falling under $2000 with a debit balance the debit must be covered with new funds, otherwise a liquidation to cover the debit and a 90 day restriction will be applied.

How do I know which service to select for auto trading?

While eOption works with many newsletter publishers, they do not recommend one service over another. eOption doesn’t have access to newsletter publisher track records or historical performance data. Their only suggestion is to inquire with multiple services to ensure that you are comfortable with the strategy and are able to fully understand the risks associated with employing said strategy. Any reputable service should provide information that you request by contacting the service directly. Proper due diligence on the subscriber’s part is extremely important.

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