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Best Futures traders all time

If you can’t decide whether to trade options or futures, the primary difference between futures and options trading is that if an investor purchases options, this gives them the right to buy or sell the asset at a given date rather than requiring them to. Meanwhile, an investor who holds a futures contract is obligated to carry out the contract at the time and price specified.

NerdWallet’s Top Picks: The Best Online Brokers for Trading Futures

Futures are priced similarly to options, where a commission is charged on a per-contract basis, but there is no base fee per-trade. Rather, you are charged “per side, ” meaning you’ll be charged for purchasing and selling the contract.

Most brokers will tend to charge NFA (National Futures Association) and exchange fees in addition to the normal commission. The NFA Assessment Fee is approximately $0.02 per side, but additional exchange fees vary according to the exchange and to the contract being purchased, so be sure to look at the small print. NerdWallet looks at the small print to highlight these best brokers for futures trading.

  • Highest quality and broadest range of offerings combined with a user-friendly interface and extensive research
  • Commission: $2.99 per contract per side
  • Account Minimum: $2, 000
  • Other charges: NFA and Exchange Fees
  • Promotion: $0.99 per contract for the first 90 days when you fund a new account with at least $10, 000
  • Offers free tools, trading software, and real time data
  • Commission: $1.50 per contract per side
  • Promotion: Transfer your existing brokerage account to TradeMonster and get reimbursed up to $250 in transfer fees
  • Sign up for tradeMonster
  • Advanced trading platform with sophisticated tools and cheap trades
  • Commission: $0.60 per contract per side
  • Account Minimum: $10, 000
  • Other Charges: Exchange Fees
  • Promotion: 30 days of unlimited free options trades when you open an account
  • Rated the best platform technology overall by Barron’s, offers some of the fastest trade execution combined with powerful analysis tools
  • Commission: $0.25 – $1.20 per side, per contract (depends on the number of monthly contracts)
  • Promotion: None

Selecting the Right Trading Account for Your Needs

If you know exactly what premium features you’re looking for and don’t see them listed above, there’s an easy way to search all available brokerage accounts that make trading options and futures available to you. Just plug-and-chug: by inputting your desired features into NerdWallet’s brokerage comparison tool, it returns the best accounts that meet your requirements, so you can compare and contrast your options to find the lowest cost alternative.

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