For example, one oil futures contract typically represents 1,000 barrels of oil to be delivered at a certain future date. (Many charge extra for that.)įutures are agreements to sell a fixed amount of an asset at a specific date in the future - instead of buying a commodity, currency, or other asset at today's market price.įutures are traded in the form of contracts, which are agreements between the seller of an asset and the buyer, or futures trader. What's more, this price is the same whether the trade is placed online or is broker-assisted. Schwab is an excellent choice for investors who want a cost-effective way to trade futures on a great platform, but also want a great all-around broker for their other investment needs.įees overview: For futures trading, Schwab charges a flat rate of $1.50 per contract on both futures and futures options.
A $1.50 per-contract commission on futures and futures options isn't the cheapest, but it's certainly on the lower end of the spectrum. Plus, Schwab offers futures trading at very reasonable pricing. It also has a vast branch network and excellent customer service. (See our best stock brokers list if you're interested in finding a great stock trading platform.) Charles Schwab offers fractional shares, access to international stock exchanges, a fantastic selection of cheap mutual funds, and a top-notch online trading platform. We've called Charles Schwab the best all-around stock broker we know of as well as one of the best stock brokers for beginners as it checks most of the boxes today's investors want. The lowest pricing tier of just $0.25 per contract is reserved for traders with more than 20,000 futures contracts in monthly trading volume.īest for: Futures traders who want a great all-around investment platform. The per-contract commission rate starts to fall after more than 1,000 futures contracts are traded in a month. It offers a discounted commission structure for very active traders. The same applies for options contracts on futures. However, Interactive Brokers is a natural fit for active and experienced futures traders who want a platform that's as cost-effective as possible.įees overview: Interactive Brokers' futures pricing structure has a standard commission rate of $0.85 per contract. The high $100,000 minimum for futures trading obviously excludes many beginning investors. Plus, it gives high-volume traders discounted commission rates on futures and other investment products.
It offers one of the lowest commission structures that we know of. Interactive Brokers is designed for active traders of stocks, options, and yes - futures.
The platform also offers options on futures ($2.50/contract to open, free to close) and micro futures ($1.50/contract to open, free to close).īest for: Active and experienced futures traders. The standard futures trading commission is $1.25 per contract, with lower pricing for micro futures ($0.85) and smalls futures ($0.25) contracts.
(You can even copy the pro traders with the click of a button.) It has a ton of educational resources for new futures traders looking to learn, including proprietary in-platform video content.įees overview: Tastyworks has some of the best pricing on futures trading in the business. Tastyworks has some appealing features, such as the ability to follow the moves of other traders in real-time. It also offers feature-packed browser- and app-based trading solutions. The brokerage features a high-tech and user-friendly trading platform with tons of trading tools in its desktop trading software. It was designed by the founders and executives of thinkorswim, a popular options and futures trading platform, which is now a part of TD Ameritrade. Tastyworks is built specifically for options and futures trading.