While it offers professional-level accounts, even those of us without millions under management can find our needs well-covered by Interactive Brokers.
IBKR Lite has fixed pricing for options. The Pro tier gives you access to fixed or tiered pricing options and longer trading hours.
Thanks to tiered pricing, costs can go down to 15 cents per contract with high volumes. Options trading is a form of active investing in which traders make a bet on the future value of specific assets, including stocks, funds, and currencies. Instead of buying and holding the underlying asset directly, you hold a contract that gives you the right, but not the obligation, to buy or sell that asset at a specific price on a specific future date and time.
If your bet is wrong, your option becomes worthless. Options trading can be very complex.
It may use multiple conditions, and market prices change almost constantly during the trading day, or even 24 hours a day in some markets.
This makes options trading very risky compared with long-term investments in mutual funds, ETFs, or even many stocks.