5 Best Options Trading Platforms in the U.K. for 2025 – Top Brokers Reviewed • Benzinga

Options trading enables advanced strategies for both speculation and hedging, which makes the choice of platform just as important. The best options trading platforms for U.K. investors go beyond basic order execution, offering low fees, multi-leg capabilities, real-time Greeks, powerful analytics and intuitive strategy builders. Compliance with U.K and U.S. regulations and access to global options markets are also essential considerations.

This article reviews the 5 best options trading platforms in the U.K. 

5 Best Options Trading Platforms In The U.K.

How We Chose The Best Options Trading Platforms In The U.K.

We chose the best options trading platforms for U.K. investors by focusing on key features needed for sophisticated strategies: multi-leg trading capabilities, real-time Greeks and advanced analytics. We also considered commission structures for cost-effectiveness, platform usability, access to global options markets and strong U.K. regulatory compliance, along with reliable customer support and educational resources.

Best Options Trading Platforms In The U.K.

Interactive Brokers U.K. — Best Overall

Interactive Brokers (IBKR) is consistently ranked among the top choices for serious options traders globally, and its U.K. arm upholds this standard. Its platform is built for advanced strategies, extensive analysis and broad market access. 

• Commission Structure: U.S. options contracts typically cost $0.15 to $0.65 per contract with minimums as low as $1 per order. U.K. options start at 1.50 pounds per contract.

• Platform Usability: The flagship Trader Workstation (TWS) is powerful and customizable, offering advanced charting, multi-leg options order entry and a suite of analytical tools. It has a learning curve for beginners, but its depth for experienced option traders is unmatched.

• Account Options and Minimums: Offers various account types, including individual, joint, self-invested personal pension (SIPP) and individual savings accounts (ISAs).  There are typically no account minimums or inactivity fees, though higher balances may unlock lower margin rates and data perks. 

• Customer Service and Availability: Provides 24/7 customer support via phone, email and live chat. Support is generally responsive and knowledgeable, catering to complex trading questions. 

• Asset Class Coverage: Offers access to more than 150 markets in 33 countries. It offers options on equities, indices, futures and some forex across major global exchanges.

• Educational Content and Support: IBKR provides an extensive library of educational resources, including webinars, tutorials and a dedicated Options Wizard tool that helps users identify strategies based on market outlook. Its Options Analytics tools provide real-time Greeks, implied volatility analysis and strategy performance graphs.

• Drawbacks: Its Trader Workstation is complex and has a steep learning curve for beginners or those who want a simpler experience. Its fee structure is complicated because of tiered pricing and exchange and regulatory fees.

Who It’s Best For: Experienced, active and professional options traders who want institutional-grade tools, extensive global market access and advanced analytical features for complex strategies. 

Saxo Bank — Best for Premium Tools 

Saxo Bank, through its U.K. entity Saxo Markets, delivers a high-end trading experience with advanced options tools for testing strategies and automating trading. The platform caters to sophisticated traders and those with larger portfolios. 

• Commission Structure: Pricing is tiered, meaning higher trading volumes or larger account sizes can lead to lower commissions. Options commissions vary by exchange and asset. The value is in Saxo’s advanced platforms and comprehensive features. 

• Platform Usability: SaxoTraderPRO for desktop and SaxoTraderGO for web and mobile are intuitive to use and have powerful functionality. They offer options chains, advanced strategy builders, real-time Greeks and risk analysis tools. It supports multiple monitors for traders who use them for a comprehensive market overview. 

• Account Options and Minimums: Offers various account types. Some accounts require a minimum deposit to unlock access to more comprehensive tools and better pricing. 

• Customer Service and Availability: Provides solid customer support, including dedicated account managers for higher-tier clients. Support is available during market hours via phone, email and chat. 

• Asset Class Coverage: Extensive global market access for options on equities, ETFs, indices, forex and commodities across 23 major exchanges worldwide. 

• Educational Content and Support: Saxo offers a range of educational materials, webinars and daily market analysis. The platforms feature integrated research tools and news feeds. 

• Drawbacks: It’s expensive for smaller trading volumes or account balances because of its tiered pricing structure and potential custody fees. The advanced platforms can have a steep learning curve for beginners. 

Who It’s Best For: Experienced options traders with larger portfolios or higher trading volumes who can benefit from its tiered pricing, want access to an array of global options markets and demand powerful analytical tools for complex multi-leg strategies.

Charles Schwab U.K. — Best for U.S. Options Focus

After its acquisition of TD Ameritrade, Charles Schwab U.K. now offers access to the thinkorswim platform, making it a strong contender for U.K. investors focusing on U.S. options. It offers powerful analytical tools and excellent customer support

• Commission Structure: U.S. options are $0.65 per contract, with zero base commissions for U.S.-listed stocks. Other fees like foreign exchange conversion apply when trading U.S.-denominated assets. 

• Platform Usability: The thinkorswim platform for desktop, web and mobile is designed specifically for options traders. It features powerful charting, sophisticated strategy builds, the Probability Lab for analyzing option probabilities, real-time Greeks and comprehensive risk analysis tools.

• Account Options and Minimums:  Charles Schwab U.K. offers various brokerage accounts. While there are not explicit minimums for opening, a sufficient balance for margin and trade sizing is recommended to effectively use the tools. 

• Customer Service and Availability: Provides excellent customer service, including access to options specialists who can assist with strategy and platform use. Support is available through phone, chat and email, with good availability for U.K. traders accessing U.S. markets. 

• Asset Class Coverage: The focus is primarily on U.S.-listed options. While  Charles Schwab U.K. doesn’t have the same breadth of direct international options as IBKR or Saxo, it provides deep coverage and tools for the U.S. options market. 

• Educational Content and Support: Charles Schwab and thinkorswim are known for their educational resources, including webinars, tutorials and articles about options strategies and risk management. Thinkorswim offers paper trading for risk-free practice. 

• Drawbacks: Since the primary focus is on U.S.-listed options,  Charles Schwab U.K. offers limited access to U.K. or European underlying assets compared to more globally diversified options brokers. U.K. clients also will incur currency conversion fees when funding their accounts or trading U.S. dollar-denominated assets.

Who It’s Best For: Serious U.K. options traders focused on U.S. markets who value deep analytical tools, sophisticated strategy builders and robust educational resources. 

IG — Best for U.K.-Focused Options

IG offers extensive options trading via contracts for difference (CFD) and spread betting, as well as direct share dealing. Its options are mainly derivatives, but its platforms offer strong analytics and compliance with U.K. regulations, making it suitable for those who prefer leveraged trading or U.K.-centric products. 

• Commission Structure: For CFD and spread betting options, costs are embedded in the spread, with no direct commission per contract. This can be cost-effective for smaller trade sizes. For direct share dealing options, commissions apply. Overnight funding charges apply to leveraged positions held overnight. 

• Platform Usability: IG’s web platform mobile app and ProRealTime provide clear options chains, risk/reward calculators and basic strategy builders. While not as deep on real-time Greeks and multi-leg analysis as IBKR or Saxo for traditional options, they are functional for leveraged derivatives. 

• Account Options and Minimums: Offers various account types, including standard trading accounts and ISAs. Minimum deposits are generally low, making them accessible to a range of traders. 

• Customer Service and Availability: Provides excellent customer support with good availability for U.K. clients via phone, email and live chat. 

• Asset Class Coverage: Offers options via CFDs/spread betting on a range of underlying assets, including global indices, major forex pairs, commodities and individual shares. 

• Educational Content and Support: IG Academy provides educational materials and webinars on options trading as well as market analysis. It offers risk-management tools like guaranteed stop-loss orders. 

• Drawbacks: Options offerings are mainly through CFDs and spread betting, which don’t involve direct ownership of the underlying option and have different risk profiles and fee structures than traditional exchange-traded options. 

Who It’s Best For: U.K. investors who want to trade options via CFDs and spread bets for their tax efficiency and leverage, or U.K. residents who want a reliable broker for accessing U.S.-listed options. 

Tastytrade U.K. — Best for Low-Cost Trading

Tastytrade’s low-cost structure is aimed directly at options traders. It offers an options-focused platform design and extensive educational content. For U.K. investors, tastytrade offers direct access to the U.S. options market, making it an excellent choice for people who prioritize aggressive pricing, intuitive options analysis and high-frequency options strategies, especially for multi-leg trades. 

• Commission Structure: One of tastytrade’s biggest draws is its competitive commission structure designed specifically for options traders. It charges $1 per options contract to open and zero to close, with a maximum of $10 per leg on equities and ETFs, and $1 per contract to open for futures options. There are no assignment or exercise fees, which can mean significant savings for active options traders. 

• Platform Usability: The tastytrade desktop, web and mobile platforms are built for options trading. Their intuitive design allows for easy visualization of options chains, multi-leg strategy construction and clear profit/loss diagrams. While focused on options, which can be complicated, they’re user-friendly once you grasp the basics. 

• Account Options and Minimums: Tastytrade offers various account types, including individual and joint brokerage accounts. Minimum deposit recommendations are made for certain trading permissions. 

• Customer Service and Availability: Tastytrade offers customer support via phone, email and live chat. It’s a U.S.-based broker, but support is responsive and knowledgeable about options trading and caters to a global client base. 

• Asset Class Coverage: Tastytrade’s focus is on the U.S. options market, offering a wide selection of options on U.S. equities, ETFs and futures. While it’s not a multinational stock broker in the same vein as IBKR for direct international stock access, its specialization in U.S. options provides extensive opportunities for strategies on a range of underlying assets. 

• Educational Content and Support: Tastytrade has extensive educational content delivered through its media arm. This includes daily live shows, tutorials, and articles that focus on options trading strategies, market commentary and risk management. 

• Drawbacks: Tastytrade is geared toward experienced, active traders focused on U.S. markets. Beginners may find its advanced interface overwhelming, and it lacks features for broader long-term investing like mutual funds or extensive international stocks. 

Who It’s Best for: Active options traders who frequently engage in multi-leg strategies on U.S. markets, prioritize low commission costs and appreciate a platform designed specifically for options trading. 

Choosing the Best Options Trading Platform

Choosing the best options trading platform in the U.K. depends on your trading goals. 

Interactive Brokers U.K. is great for experienced traders who need extensive global access and advanced analytics. Saxo Bank U.K. suits sophisticated traders with larger portfolios, offering premium tools but potentially higher costs for lower volumes. Charles Schwab U.K. excels for serious U.S. options traders, providing deep analytics through thinkorswim. IG is strong for U.K.-focused leveraged options but lacks the traditional options depth of others. Tastytrade U.K. offers cost-effective U.S. options trading for active users, though its specialized nature isn’t ideal for beginners or broad long-term investing. 

It’s important that the platform you choose aligns with your trading goals. 

Frequently Asked Questions