Robinhood Alternatives: Which Apps Offer Options Trading?
Want to know which apps can you do options trading besides Robinhood exchange? We're covering some of the apps to research as Robinhood alternatives in 2025.
Which apps can you do options trading besides Robinhood?
If you're into options trading but have found yourself growing frustrated with Robinhood—whether it’s due to app outages, restrictions, or simply wanting more advanced features—you might be wondering what other apps offer options trading. Fortunately, there are several alternatives to Robinhood that not only allow you to trade options but also provide extra features that could better suit your trading style and needs.
Robinhood alternatives
Here’s a look at some of the best alternatives for options trading besides Robinhood:
1. Webull
Webull is often seen as the closest alternative to Robinhood for its commission-free trading and intuitive mobile interface. However, it offers more advanced tools that intermediate and experienced traders will appreciate. Webull is one of the few platforms that offer commission-free options trading, just like Robinhood. It also provides more detailed analysis tools, technical indicators, and advanced charting features, making it a great choice if you're looking to step up your trading game.
Why Webull?
Free options trading with no commissions per contract
Advanced trading metrics and analysis tools
Paper trading for practicing strategies without risking real money
Access to cryptocurrency and stock trading alongside options
Read next: Robinhood vs. Coinbase
2. E-TRADE
E-TRADE is a strong contender if you’re looking for a robust trading platform with a history of serving both casual investors and professionals. While E-TRADE charges $0.65 per options contract (reduced to $0.50 for high-volume traders), its advanced platform, especially Power E-TRADE, is packed with tools like live-action trading, custom alerts, and risk-reward analysis. If you're an active options trader, you'll appreciate the level of customization and in-depth research tools it offers.
Why E-TRADE?
Advanced tools for options trading, including customizable strategies
Lower fees for high-volume traders
Great for both beginners and advanced traders
Excellent customer support and educational resources
3. Ally Invest
Ally Invest is another solid alternative for those looking to trade options. It charges $0.50 per options contract if you're a frequent trader. One of the big perks of Ally Invest is that you can manage both your banking and investing needs under one platform since it's integrated with Ally Bank. The interface is user-friendly, and there’s also a robo-advisor option if you’re looking for a more hands-off approach.
Why Ally Invest?
Low commission on options trades at $0.50 per contract
Seamless integration with Ally Bank for a full financial picture
Simple, easy-to-use platform suitable for beginners
4. TD Ameritrade
While TD Ameritrade might not be as well known for its commission-free model as Robinhood, it offers much more in terms of education, tools, and support. Options trading costs $0.65 per contract, but you gain access to thinkorswim, a highly-regarded trading platform used by many professionals. This platform offers advanced technical analysis, paper trading, and tons of educational resources to help traders improve.
Why TD Ameritrade?
Access to the powerful thinkorswim platform for advanced options strategies
Comprehensive research tools and educational resources
Excellent customer service with 24/7 support
Ideal for traders who want more depth in their trading strategy
Read next: Best Crypto Options Trading Platforms
5. Public.com
Although Public.com doesn’t currently offer options trading, it’s worth mentioning if you’re looking to avoid the payment-for-order-flow (PFOF) model that Robinhood uses. Public.com focuses on transparency and doesn’t route your trades to market makers for profit, which can result in better trade execution. While it’s not the go-to for options traders, Public.com does offer a clean, user-friendly platform for stocks and crypto with a focus on community and education.
Why Public.com?
No payment-for-order-flow, meaning your trades are not influenced by market makers
Fractional shares and crypto trading
Engaging social features that connect you with other investors
6. eToro
eToro is a standout alternative to Robinhood, particularly for those who enjoy the social aspect of investing. While it’s not commission-free for options trading (which is not currently offered in the U.S.), it does allow U.S. users to trade stocks and ETFs with zero commission and provides a unique feature called CopyTrader. This feature lets you mimic the trades of experienced investors, making it ideal for beginner traders who want to learn while investing. eToro is known globally for its focus on social investing, and its platform is highly intuitive for mobile and desktop users.
Why eToro?
CopyTrader allows you to copy trades of more experienced investors
Zero commission on stocks and ETFs
Great for beginners who want to learn from more advanced traders
Offers a wide range of assets, including cryptocurrencies and CFDs (for international users)
Read next: How to buy Bitcoin on eToro
Why are investors moving away from Robinhood?
Despite Robinhood's appeal with its sleek interface and commission-free trades, several factors have caused users to seek alternatives. Robinhood has faced SEC fines, lawsuits, and user frustration due to app outages and restrictions—most notably during the GameStop short squeeze. Additionally, its involvement in payment-for-order flow has led to concerns about potential conflicts of interest.
For options traders specifically, Robinhood has been criticized for its limited tools and educational resources. While it's great for beginners, once you gain more experience, its platform can feel restrictive compared to other brokers. So whether you're looking for more advanced tools, better customer support, or simply a change from Robinhood, there are plenty of options out there for options traders.
Read next: How to withdraw money from Robinhood?
Options, stocks, and crypto are taxable
Any profits from your trades on Robinhood, or any of the Robinhood alternatives listed above are taxable. In general, options, stocks, and crypto are all treated largely the same from a tax perspective in many countries - that is, as capital assets where profits are subject to Capital Gains Tax. You can learn more about crypto taxes in your country in our crypto tax guides.
