Options are one of the most complex financial instruments to speculate with. But if you are comfortable with the level of risk involved, and they work for your financial goals, which are the best options trading platforms to use?
To compile this list, I’ve gone through the onboarding process and comprehensively tested all of the trading platforms listed. I’ve set up accounts and trialled demo platforms, compared their service charges, made requests through customer service, and extensively explored mobile apps, desktop apps, and websites.
My best rated options trading platforms in the UK, October 2026
- Spreadex: Best overall options trading platform
- IG: Best platform and tools for options
- Plus 500: One of the best for trading options
- AvaTrade: Best for trading platform choice
- Saxo: Best for traders with a larger portfolio
- Interactive Brokers: Best for low cost and choice of options
- CMC Markets: Best for platform tools
Spreadex is a St Albans spread betting and CFD firm founded in 1999 and authorised by the FCA (FRN 190941). Options sit alongside more than 10,000 other markets, and they are dealt mainly over the phone, with a small number available online. There are no daily options.
Key Features
- Options traded as spread bets or CFDs, dealt mainly by phone with a small number online
- More than 10,000 markets, including UK and US shares, global indices, hundreds of FX pairs, commodities, bonds and interest rates
- Specialist coverage of AIM and small-cap UK shares
- No commission, with indices from 0.6 points and the FTSE 100 from 1 point
- No minimum deposit; card deposits from £5
- TradingView integration and Autochartist on the web platform and the iOS and Android apps
- UK-based support from 7:30am to 10pm on weekdays
Pros:
- No minimum deposit and no commission
- More than 10,000 markets beside the options range
- FSCS protection to £85,000, client money at Barclays and negative balance protection
- Trustpilot score of 4.4
Cons:
- Options dealt mainly over the phone, so online options dealing is limited
- No daily options
- No MetaTrader 4 or 5 and no standalone demo account
Service Fees:
- Buy/Sell Spreads: Spreadex charges no commission, so its costs sit in the spread. Indices start from 0.6 points, the FTSE 100 from 1 point and EUR/USD from 0.6 pips in peak hours.
- Commission: None.
- Minimum deposit: None; card deposits from £5.
- Practice trading: There is no standalone demo account. Practice runs through TradingView paper trading linked to a Spreadex account.
Spreadex Investment Types:
- Options (mainly by phone)
- Indices
- Shares (UK and US, including AIM and small caps)
- Forex (spot and futures)
- Commodities
- Bonds and interest rates
- ETFs and IPOs
Best for:
Spreadex is my pick for traders who want options dealt by phone through a UK desk alongside spread bets on 10,000+ markets, with no minimum deposit to get started.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 61% of retail investors lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
IG is a British-run online trading provider offering financial derivatives, including spread betting and stockbroking, to retail investors from across the globe. IG was established in 1974 and can lay claim to inventing spread betting, bringing it to the market that same year.
Key Features
- Proprietary web and mobile platforms for spread bets, trading, and share dealing.
- Features: Clear, responsive, chart analysis, custom alerts, automatic trading, research tools, streaming news, economic calendar, signals.
- Progressive web app (PWA) for platform access on any device without app store visit.
- ProRealTime (PRT) and MT4 also available.
- Access to 17,000+ markets.
- Risk management tools: Stop-losses, price and distance alerts, visible balances, guaranteed stop-loss orders (GSLOs).
- Option chain for expirations, calls, puts, and trading.
Pros:
- Fantastic trading platform which is easy to customise
- Some of the best educational resources available
- Unlimited demo account
- Multiple options for funding and withdrawing money
- Customer support is available 7 days a week
Cons:
- Trading platform may be too complex for beginners
- No copy trading or backtesting integration
- Not optimal for infrequent traders
Service Fees:
- Buy/Sell Spreads: Trade with spreads from 0.6 points on key FX pairs, 0.8 points on major indices, and 0.1 points on commodities. Check the website for full details.
- Overnight funding: If directly-funded positions are open past 10pm, you’ll be charged an overnight funding fee. Check the website for full details.
- Guaranteed Stop Order: You can protect your position against slippage with a guaranteed stop, paying only a small premium if your guaranteed stop is triggered. The potential premium is displayed on your deal ticket.
- Deposit / Withdrawal fees: IG do not charge any deposit or withdrawal fees.
- Inactivity fee: £12 every month if you’ve not used your account to deal for two years or more.
- Currency conversion: Standard charge for currency conversion on CFDs is 0.5%.
Best for:
Trading forex options.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Plus500 is a publicly-traded online multi-asset broker offering an extensive range of financial products, including CFD trading (forex CFDs, indices CFDs, shares CFDs, commodities CFDs, EFTs CFDs, and options CFDs)
Key features
- 2000+ trades across commodities CFDs, ETFs CFDs, indices CFDs, options CFDs, and shares CFDs.
- Trading for call and put options CFDs on Germany 40, oil, and Metashares
- Up to 1:30 leverage (depending on classification) with a minimum £50 investment.
- Lower capital requirements due to leverage, zero commissions, and competitive spreads.
- Analytical tool ‘Insights’ for trade analysis and sentiment
- Risk management tools include price alerts, stop-loss orders, and negative balance protection.
- Demo account with £40,000 virtual credit for learning options trading
Pros:
- Access to over 2800 contracts
- no commissions, spreads and other fees apply
- Excellent risk management tools
Cons:
- Only offers options trading in contracts
- Plus500 does not offer MetaTrader 4 (MT4)
- Inactivity fees levied, making the platform unsuitable for buy-and-hold investors
Service Fees:
- Buy/Sell Spreads: Plus500’s receives commission on the spread (the difference) between a buy and sell price. Check the website for full details.
- Overnight funding: An overnight funding fee is due when holding a position after a certain time. Check the website for full details.
- Guaranteed Stop Order: There is a fee due for using a Guaranteed Stop Order. Check the website for full details.
- Deposit / Withdrawal fees: No deposit or withdrawal fees.
- Inactivity fee: Inactivity fee is $10 per month after 3 months of inactivity.
- Currency conversion: Currency conversion fee is 0.7%.
Investment Types:
- Commodity CFDs
- ETF CFDs
- Indices CFDs
- Options CFDs
- Shares CFDs
Best for:
Those looking to trade options CFDs with leverage.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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.
AvaTrade is a CFD, crypto and forex broker which also offers spread betting to UK residents. It is headquartered in Dublin, but has regional offices around the world. Founded in 2006, AvaTrade has established itself as a major player and one of the top forex brokers in the world.
Key Features
- Dedicated options trading on their app, ‘AvaOptions,’ covering FX, stocks, commodities, spread betting, and indices
- Various options with expiration dates ranging from overnight to one year.
- Tools for technical analysis, portfolio simulations, and stop/limit orders
- 13 trading strategies, including spot, calls, puts, and combinations
- Support for both retail and professional investors, including money managers.
- Free educational resources like videos, articles, e-books, and market analysis updates, along with webinars
- Dedicated Account Manager for first deposits over £1,000.
Pros:
- Excellent selection of trading platforms
- Quick and easy to open an account
- Good educational offering
Cons:
- High inactivity fees
- Limited research tools when compared to competitors
- Demo account expires after 3 weeks
Service Fees:
AvaTrade fees are refreshingly straightforward. The company likes to make clear that it is compensated for its services through the spread. So when you open a position, you essentially ‘pay’ the spread. AvaTrade does not have any other charges or fees on trading or transactions.
- Buy/Sell Spreads: You can review the levels of leverage and spreads for all CFD instruments on AvaTrade’s trading conditions & charges page.
- Overnight funding: An overnight premium is deducted from your account when holding a position after a certain time. Check the website for full details.
- Currency conversion fees: If you deposit or withdraw funds in a currency other than your account’s base currency, you may be subject to conversion fees.
- Deposit / Withdrawal fees: AvaTrade does not charge deposit fees, but fees may become due when withdrawing funds, depending on your payment method.
- Inactivity fee: £50 after 3 consecutive months of non-use, followed by a £100 administration fee after 12 consecutive months of inactivity.
Investment Types:
1,000+ financial instruments are available, including forex pairs and CFDs for stocks, commodities, cryptocurrencies, and indices.
Best for:
Those looking for a wide selection of trading platforms to choose from.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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.
Saxo Markets is the London-based institutional division of Denmark’s well-respected Saxo Bank Group. They provide access to the options market alongside other multi-asset trading and investment opportunities in the global capital markets. Saxo launched one of the first online trading platforms in 1998 and has operated in the UK since 2006.
Key Features
- Trade options on equities, indices, foreign exchange, bonds, and commodities on 23 stock exchanges worldwide.
- Standard option trading allows buying only to control risk.
- To buy options, you need an account value of over $5,000 and must acknowledge the risks.
- Saxo offers powerful platforms like SaxoTraderPRO and SaxoTraderGO with advanced features, risk management tools, and integration options.
- Access market analysis, webinars, news, and education resources.
- Real-time option chain for easy trading decisions.
Pros:
- Access to one of the largest pools of assets available
- Superb trading tools
- One of the best available desktop platforms
- For those with £1m+ to trade, VIP tier comes with many benefits
- Excellent, up-to-date research
- Very large virtual credit wallet to practise with on the demo account
Cons:
- Beginners are only allowed to buy (rather than sell) of options
- Demo account limited to 20 days
- Saxo Markets does not offer MetaTrader 4 (MT4)
- Trading with leverage is risky as your losses may exceed your initial outlay
- Service Fees
Investment Types:
Trade options on:
- Indices
- Shares
- Forex (FX)
- Commodities
- Futures
- Bonds
- Interest rates
Best for:
More experienced traders with large portfolios.
67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs, or any of our other products work, and whether you can afford to take the high risk of losing your money. The value of your investments can go down as well as up. Losses can exceed deposits on some margin products. Professional clients can lose more than they deposit. All trading carries risk.
Boasting access to more than 150 markets, Interactive Brokers (IBKR) has become a popular choice for options investors. Founded in 1978, IBKR is publicly listed on the NASDAQ and is regulated in 9 Tier-1 jurisdictions.
Key Features
- Access 10,000+ options markets, including major exchanges
- Five trading platforms available for retail and professional options traders
- Four levels of options trading permissions available
- No minimum account threshold or inactivity fee
- Rich education and research toolkit, including ‘Options Wizard’
- Full suite of risk management tools, including Stop Limit and Trailing Stop
Pros:
- Ultra-low fees – one of the lowest cost platforms available
- Unparalleled choice of investment assets
- Impressive selection of features on Trader Workstation (TWS) means you can trade like a professional
- No inactivity fee
Cons:
- The exceptional tools on TWS and the breadth of assets available could be intimidating for inexperienced traders
- MetaTrader 4 (MT4) not available
- Trading with leverage is risky as your losses may exceed your initial outlay
Service Fees:
Interactive Broker implements a more simple charging structure than many of its competitors: fees are earned through commission with no added spreads, ticket charges, platform fees or account minimums to worry about.
- Buy/Sell Spreads: n/a
Commission:
- Fixed rate pricing charges a flat rate per contract, e.g., £1.70 per contract for index options.
- For those trading in large volumes or adding liquidity, the Tiered structure is usually more cost-effective. It starts at £0.60 per contract for index options, with potential reductions to £0.15 for high-volume traders (additional fees may apply).
- CFDs have a combination of fixed and volume-tiered pricing, with full details available on the website.
Overnight funding: Overnight position fees apply. Check the website for full details.
Deposit / Withdrawal fees: IBKR allows one free withdrawal request every month. After the first withdrawal (of any kind), IBKR will charge fees for any subsequent withdrawal.
Inactivity fee: No fee.
Currency conversion: IBKR typically adds or subtracts (at its discretion) 0.03% to the exchange rate that would otherwise apply. This is far lower than any other options trading brokers I have experienced.
Investment Types:
- Stocks
- ETFs
- Futures
- Option
- sport currencies
- Cfds
- Metals
- Bonds
Best for:
Experienced and professional traders looking for a feature-rich options trading platform.
Capital at risk.
CMC Markets is a global provider of financial spread betting and trading. Headquartered in the City of London and listed on the London Stock Exchange, CMC Markets has offices in Sydney, Singapore, Toronto, and across Europe.
Key Features
- Highly regarded and listed on the London Stock Exchange.
- Caters to all trader levels, with educational resources and advanced tools.
- Offers tax-free spread betting on 12,000+ instruments.
- User-friendly website with extensive resources.
- Features its proprietary platform, Next Generation, and MetaTrader 4.
- Provides risk management tools, including guaranteed stop-loss orders (GSLOs).
Pros:
- Accessible, easy-to-use platform for all trading competency levels
- Platform offers some excellent features
- Low cost and clear fees
- Great educational offering
Cons:
- You cannot trade real stocks or ETFs
- Stock fees are high
- Inactivity fee applied
Service Fees:
- Income from spread on buy/sell prices, details on website.
- Overnight holding costs for CFD and spread betting positions are detailed details on website.
- Fee for Guaranteed Stop Order, displayed in trade ticket; refunded if not triggered, details on website.
- No fees for credit/debit card or standard bank transfer withdrawals; charges for international bank transfers may apply.
- Inactivity fee of £10/month on dormant accounts after one year (no deduction if no funds).
- No currency conversion fees for spread betting.
Investment Types:
Options available on over 50 currency pairs, Gold, and Silver. CFD and spread betting available on 12,000+ products including FX Pairs, Indices, Commodities, Shares, Cryptocurrencies, and Treasuries.
Best for:
Suitable for a wide range of options traders including beginners and experienced investors.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
5 steps to trading options in the UK
- Choose an options trading platform or broker. My list above includes the top 7 options trading platforms available to UK investors. If you intend to use a different broker, make sure they offer access to options, as not all platforms will do so.
- Open an account. A regular share dealing account will typically be the most suitable for options trading.
- Deposit funds. Many platforms have a minimum deposit requirement. Check what this is before you go to open an account.
- Decide what kind of options you’d like to trade. You can trade options on a variety of assets, and there are various ways to do so. Keep reading my guide to discover more about how to trade options.
- Place your trades. You’re ready to trade! Remember to keep an eye on your options and make any adjustments or decisions before the expiration date of the contract.
Best Options Trading Platforms UK FAQs
Can you do options trading in the UK?
Yes, you can do options trading in the UK. Simply find a platform that allows you to trade options, open an account, deposit funds, and select the options you’d like to trade.
What apps can I trade options with UK?
Apps and investment platforms that allow you to trade options in the UK include AvaTrade, City Index, IG, Interactive Brokers, and Saxo Markets.
Can I trade options on eToro?
No, currently in September 2022, eToro does not offer access to options trading. Consider opening a new options trading account with one of the platforms I have listed above.
Can I trade options on Hargreaves Lansdown?
Unfortunately, you can’t trade options on Hargreaves Lansdown either, as of September 2022. So, even if you already have a share dealing account with Hargreaves Lansdown, you’ll need to open a new one with a different provider that offers access to options.
Please note
The value of your investments (and any income from them) can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance. Investments should be considered over the longer term and should fit in with your overall attitude to risk and financial circumstances.
CFDs are complex instruments and more than half of retail investor accounts lose money when trading CFDs. Please make sure that you know these risks before you start trading and that you’re aware there’s a high chance of losing money rapidly on your investment.
