Best Options Trading Platform in the UK for 2026

Options trading has grown in popularity in the UK, but options are riskier and more complex than shares, so the choice of platform matters more. Fewer UK brokers offer listed options than shares, and their fees per contract vary a lot.

We compared the main FCA-regulated platforms that give UK investors access to exchange-traded options. These are the best options trading platforms in the UK in October 2026:

• Interactive Brokers: the widest choice of options markets and the lowest fees for active traders.
• Saxo: a polished platform with strong research, with fees that fall as you trade more.
• Webull: a simple app for US options, with $0.50 per contract after an introductory offer.

Options are complex products. If you buy options, you can lose all the money you pay for them. If you sell options without owning the underlying asset, your losses can be much larger than the premium you receive.

What is an option?

An option gives the buyer the right, but not the obligation, to buy or sell an asset, such as a share, at a set price (the strike price) on or before a set date (the expiry). There are two types:

• Call option: the right to buy. Calls gain value when the share price rises.
• Put option: the right to sell. Puts gain value when the share price falls.

You pay a price for the option, called the premium. One stock option contract usually covers 100 shares.

Example: a share trades at £100. You buy one call option with a £100 strike for a premium of £5 per share, so the contract costs £500 (£5 x 100 shares). If the share rises to £120 by expiry, the option is worth £20 per share, or £2,000, and your profit is £1,500 before fees. If the share stays at or below £100, the option expires worthless and you lose the £500.

Investors use options to speculate with less money upfront, to protect a portfolio against falls (hedging) or to earn income by selling options on shares they own.

How to choose an options trading platform

• Markets: check which exchanges you can trade. Most UK investors want US options, which are the most liquid, but some platforms also offer UK and European options.
• Fees per contract: options are priced per contract, plus exchange and regulatory fees. On 10 contracts, a £1.70 fee costs £17 each way, while $0.50 costs $5.
• Platform and tools: look for option chains, profit and loss charts, the Greeks (measures of an option’s risk) and the ability to place multi-leg strategies.
• Education and demo account: a paper trading account lets you test strategies without real money.
• Regulation: use a broker authorised by the FCA. Check it on the FCA register.

Best options trading platforms in the UK

1. Interactive Brokers

Feature	Interactive Brokers
UK options (fixed)	£1.70 per contract
UK options (tiered)	From £1.00 per stock option and £0.60 per index option
US options	Up to $0.65 per contract ($1 minimum per order)
Eurex options (fixed)	€1.10 per stock option, from €1.50 per index option
Minimum deposit	£0
Demo account	Yes (paper trading)
Regulator	FCA (FRN 208159)

Source: Interactive Brokers options commissions, October 2026. Exchange, clearing and regulatory fees apply on top.

Pros:

• Options on US, UK and European exchanges
• Low fees, which fall further for active traders on tiered pricing
• Advanced tools on Trader Workstation, plus a simpler GlobalTrader app for US options

Cons:

• The main platform is complex for beginners
• The fee structure has many parts

Interactive Brokers (IBKR) was founded in 1978 and gives access to more than 150 markets. For options traders, it has the widest choice in our list: US options, UK options and European options on Eurex, among others.

Its Trader Workstation platform has option chains, strategy builders, risk analysis and the Greeks. If you only want to trade US stock options, the GlobalTrader app is easier to use, with US options from $0.15 to $0.65 per contract. IBKR also offers a free paper trading account and an education site, IBKR Campus.

On fixed pricing, UK options cost £1.70 per contract. On tiered pricing, UK stock options start at £1.00 and index options at £0.60, plus exchange fees. US options cost up to $0.65 per contract, with a $1 minimum per order. Exercising a UK option triggers 0.5% stamp duty. Interactive Brokers (U.K.) Limited is authorised and regulated by the FCA, with reference number 208159.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 58.9% of retail investor accounts lose money when trading CFDs with IBKR. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

2. Saxo

Options commission	Classic	Platinum	VIP
US options (per contract)	$2	$1	$0.75
UK options (per contract)	£3	£2	£1
European options (per contract)	€0.75	€0.75	€0.75

Source: Saxo listed options commissions, October 2026. No minimum ticket fee. Exchange fees and other charges may apply.

Pros:

• Polished SaxoTraderGO and SaxoTraderPRO platforms
• In-house research and market commentary
• No minimum deposit and no minimum ticket fee on options

Cons:

• Higher options fees than IBKR on the Classic tier
• Custody fee on some holdings

Saxo is a Danish investment bank founded in 1992. Its UK clients use Saxo Capital Markets UK Limited, authorised and regulated by the FCA (FRN 551422). It offers listed options alongside shares, ETFs, bonds, futures and forex, and also has a Stocks and Shares ISA and a SIPP.

Saxo’s fees depend on your account tier. On Classic, US options cost $2 per contract and UK options £3. On VIP, they fall to $0.75 and £1. European options cost €0.75 on every tier. Its platforms are among the most polished in the market, with option chains, strategy tools and in-house research.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

3. Webull

Feature	Webull UK
Options markets	US options
Options fee	$0 for the first 3 months (up to 100 contracts), then $0.50 per contract
Other products	US and UK shares, ETFs, Stocks and Shares ISA
Regulator	FCA (FRN 961286)

Source: Webull UK, October 2026. Regulatory, exchange and other fees may apply.

Pros:

• Low $0.50 fee per contract on US options
• Simple mobile app with option chains and charts
• Introductory offer with no contract fees for 3 months

Cons:

• US options only
• Fewer advanced tools than IBKR or Saxo

Webull launched in the UK in July 2023 and added US options for UK clients. New options traders pay no contract fees for the first 3 months, up to 100 contracts, and then $0.50 per contract. Regulatory and exchange fees still apply. Webull Securities (UK) Ltd is authorised and regulated by the FCA (FRN 961286). Read more in our Webull UK guide.

Which US brokers can UK investors use for options?

Some well-known US options brokers have changed their UK offer:

• Robinhood launched US options for UK customers in February 2025, at $0.50 per contract after its launch offer. Exchange fees on index options apply on top.
• TD Ameritrade no longer exists. Charles Schwab bought it, and its thinkorswim platform is now part of Schwab.
• Charles Schwab’s UK business gives UK investors access to US options through thinkorswim, at $0.65 per contract, but it has no ISA and its accounts are protected by the US SIPC, not the UK FSCS.
• E*TRADE doesn’t accept UK residents.

How are options taxed in the UK?

Profits from buying and selling options are generally subject to Capital Gains Tax, after the £3,000 annual exempt amount. Losses can be offset against other gains. If you trade very frequently, HMRC may treat your profits as trading income instead. Tax treatment depends on your circumstances, so check with a tax adviser if you’re unsure.

Conclusion

For most UK options traders, Interactive Brokers is the strongest choice, with options on US, UK and European exchanges, fees from £1.00 per UK stock option on tiered pricing and up to $0.65 per US contract. Saxo suits you if you value research and a polished platform and trade enough to reach a lower fee tier. Webull is the simplest way to trade US options from an app, at $0.50 per contract after its introductory offer.

Whichever you choose, start with a demo account and learn how options lose value over time before you risk real money.

FAQs

What is an option?

An option gives you the right, but not the obligation, to buy (call) or sell (put) an asset at a set price before a set date. You pay a premium for that right. One stock option contract usually covers 100 shares.

Are options risky?

Yes. If you buy an option, you can lose the whole premium if the price doesn’t move as expected before expiry. If you sell options without owning the underlying shares, your losses can be far larger than the premium you receive. Leverage and time decay make options riskier than buying shares.

Can I trade US options from the UK?

Yes. Interactive Brokers, Saxo, Webull, Robinhood and Charles Schwab’s UK business all give UK clients access to US options.

What is the cheapest options trading platform in the UK?

For US options, Webull and Robinhood charge $0.50 per contract after their introductory offers, and IBKR charges up to $0.65 per contract with discounts for active traders. For UK options, IBKR starts at £1.00 per stock option on tiered pricing, while Saxo charges £1 to £3 depending on your tier.