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3 Best Crypto Options Trading Platforms

After analyzing over 40 crypto exchanges this year, our team of experts identified the best platforms for options trading. Explore their standout features, pros and cons, and practical tips to get started.

By:
Shennon Hewa
Reviewed By:
Maria Zatler
Updated: Aug 12, 2025

List of Top Crypto Exchanges for Options Trading

Industry leader in crypto options with over 85% market share, offering deep BTC and ETH liquidity, automatic settlement, and the highest open interest in the market.

Largest global exchange with an Easy Options mode, low order minimums, and competitive fees, making options trading accessible to first-time users.

Options platform with industry-low fees (0.02%), Easy Options mode, and API access for algorithmic trading, catering to beginners and high-volume traders.

How Did FXEmpire Choose the Best Crypto Options Trading Platforms?

Our evaluation of options trading platforms is based on the following key criteria:

  • Exchange Trading Volume and High Liquidity: We evaluated each platform’s liquidity and 24-hour trading volume to ensure they provide reliable and efficient order execution. Note: high liquidity minimizes slippage, allowing traders to execute large orders effectively.
  • Available Crypto for Options Trading: We evaluated the range of supported cryptocurrencies (including altcoins), focusing on platforms that offer options beyond BTC and ETH to provide traders with diverse opportunities.
  • Option Types Availability: We analyzed the availability of alternative options types, such as Easy Options modes for beginners, Option Spreads for complex strategies, and Move Options for volatility trading, to recommend platforms that offer diverse trading options that cater to a wider range of traders.
  • Competitive Trading & Settlement Fees: We prioritized platforms with reasonable and transparent trading and settlement fees, avoiding hidden charges or complex fee structures that could confuse traders. Our aim is to recommend platforms that offer a balance of affordability and functionality.
  • Security & Transparency Standards: We reviewed safety measures (Proof of Reserves, robust account security features, leadership transparency, and regulatory compliance) to safeguard user funds. Platforms demonstrating a proven track record in security regarding reserve holdings received the highest ratings in our assessments.
  • Regulatory Compliance Across Jurisdictions: We assessed the regulatory landscape across various jurisdictions to recommend accessible platforms in most regions.
  • User-Friendly Trading Platform: We’ve tested crypto platforms on desktop and mobile, assessing all the features necessary for options trading. This allows us to recommend the best platform tailored to traders’ needs.

Now, let’s dive into the selected crypto exchanges.

Best Crypto Exchanges for Option Trading Comparison Table

ExchangeRankingTaker/MakerAvailable CryptoAccepts FiatPayment MethodsKYC
Deribit
Deribit
3.6
Read Review
0% / 0%
1
No
Payment method: CryptoPayment method: TPPP (Third-Party Payment Processors)
Yes
Binance
Binance
4.8
Read Review
0.1% / 0.1%
408
Yes
Payment method: Credit/Debit CardPayment method: CryptoPayment method: P2P
+1
Yes
Bybit
Bybit
4.6
Read Review
0.1% / 0.1%
523
Yes
Payment method: Bank Transfer (ACH)Payment method: CryptoPayment method: P2P
+2
Yes

Best Overall

  • Available Crypto
    10
  • Payment Methods
    Payment method: CryptoPayment method: TPPP (Third-Party Payment Processors)
  • Fees
    Low

Deribit is the industry leader in crypto options trading, holding over 85% market share. Since launching its options trading platform in 2016, Deribit has become the preferred choice for experienced traders and institutions, offering options on major assets like BTC, ETH, PAXG, BNB, SOL, and XRP.

  • High Liquidity: Deribit has the highest Open Interest and Trading Volume of any exchange, ensuring smooth order execution regardless of market volatility or order size.
  • Automatic Settlement: On Deribit, profitable contracts are automatically settled at expiry, eliminating the need for manual intervention and enhancing user convenience.
  • Best for BTC Options: Deribit has the deepest liquidity for BTC options, handling over 75% of all BTC Options traded.
Pros
  • Highest Trading Volume & Open Interest
  • Deepest liquidity for BTC options
  • Accepts users from 170+ countries
  • Comprehensive Proof of Reserves
  • Licensed & Regulated platform (Dubai)
Cons
  • Complex fee structure

Best for Beginner Traders

  • Available Crypto
    408
  • Payment Methods
    Payment method: Credit/Debit CardPayment method: CryptoPayment method: P2PPayment method: SEPA Transfer
  • Fees
    Low

Binance is the largest overall cryptocurrency exchange in the world. In 2022, the platform expanded its offerings by launching an options trading platform. Binance is one of the few exchanges to offer an Easy Options mode, making it an excellent choice for beginners looking to explore trading options. The platform offers options on BTC, ETH, BNB, XRP, DOGE, and SOL.

  • Easy Options Mode: This mode simplifies the process of trading options, helping beginners understand options trading without requiring in-depth knowledge of complex market factors or the “Greeks.”
  • Competitive Trading Fees: Binance offers competitive trading fees (0.03%), with a fee structure that is easy to understand for beginners.
  • Low Minimum Order Size: Binance offers a lower minimum order size than competing exchanges, at 0.05 for BTC and 0.001 for all other cryptos. While the BTC minimum may seem high, the altcoin minimum is significantly lower than competitors who typically enforce minimums between 0.01-0.1. This makes Binance a beginner-friendly option and accessible to traders with smaller budgets.
Pros
  • Easy Options mode is perfect for beginners
  • Competitive trading fees (0.03%)
  • Low minimum order size
  • Comprehensive Proof of Reserves
  • Supports Options trading via API
  • Licensed & Regulated platform (France/Dubai)
Cons
  • Lower liquidity than competitors
  • Limited region support

Best for Low Trading Fees

  • Available Crypto
    523
  • Payment Methods
    Payment method: Bank Transfer (ACH)Payment method: CryptoPayment method: P2PPayment method: SEPA TransferPayment method: TPPP (Third-Party Payment Processors)
  • Fees
    Low

Since its launch in 2018, Bybit has become one of the leading platforms for leverage trading. In 2022, it expanded its offerings with an Options Trading platform, now boasting over $3 billion in Open Interest and $16 billion in monthly trading volume. The platform supports options for BTC, ETH, and SOL.

  • Industry Low Trading Fees: Bybit offers some of the lowest options fees in the industry (0.02%), making it ideal for traders dealing with high volumes of contracts or those looking to minimize costs.
  • Easy Options Mode: Bybit’s Easy Options Mode simplifies options trading, making it accessible to beginners who may not fully understand complex market strategies or terms.
  • Trade Options with API Access: Bybit’s powerful API can be used to trade options, providing rapid order execution and timely market insights, making it ideal for algorithmic or high-frequency traders.
Pros
  • Industry-low trading fees (0.02%)
  • Easy Options mode is perfect for beginners
  • Bybit’s Unified Trading account increases capital efficiency & flexibility
  • Supports Options trading via API
  • Comprehensive Proof of Reserves
  • Licensed & Regulated platform (Dubai)
Cons
  • Lower liquidity than competitors
  • Fewer assets available for options trading
  • Options contracts only settled in USDC

How to Choose the Best Crypto Options Trading Exchange?

How are Options Contracts Different From Futures Contracts?

Futures contracts require you to buy or sell a specific asset at a predetermined future date, regardless of market conditions. In contrast, Options contracts give you the right, but not the obligation, to buy or sell an asset at a predetermined price (strike price) before the contract expires.

Example of Futures Trading

When trading futures with $1,000 at 10x leverage, your position size increases to $10,000. At a BTC price of $100,000, this represents 0.1 BTC. If BTC rises to $105,000, your profit is (105,000 – 100,000) x 0.1 = $500 profit. Conversely, if BTC drops to $95,000, your loss will be (100,000 – 95,000) x 0.1 = $500. However, if BTC drops to $90,000 your entire $1,000 would be liquidated.

Example of Options trading

When trading options with $1,000, you may buy a call option, thinking BTC will rise in price. If BTC is $100,000, you could buy a $105,000 strike price call for a $1,000 premium. If BTC rises to $110,000, your profit is ($110,000 – $105,000) = $5,000, subtracting the premium paid ($5,000 – $1,000) means your net profit is $4,000. However, if BTC stays below $105,000 the contract expires worthless, and you lose the $1,000 premium paid.

What Should You Consider When Selecting Cryptocurrencies for Options Trading?

While most platforms offer Options for BTC and ETH, consider these factors when choosing a coin:

  • Volatility: Trading altcoins like SOL or XRP could be more profitable due to their higher volatility, which also increases risk.
  • Platform Availability: Ensure the platform offers options trading for the cryptocurrencies you are interested in.
  • Trading Volume: High trading volume is crucial as it provides enough liquidity for smooth order execution. Without it, you could struggle to sell a contract due to a lack of buyers in the market.
  • Minimum Order Size: This determines the contract size and the premium needed to trade, which affects accessibility for traders with smaller budgets.

Considering and balancing all these factors is key to optimizing your trading experience.

What are The Different Types of Options?

Most Option Trading platforms offer standard Call and Put options, also known as Vanilla Options. Additionally, some exchanges provide more complex types in addition to Vanilla Options:

  • Vanilla Options – gives the right to buy or sell a specified amount of assets, at a certain time, at a predetermined price.
  • Option Spreads – involve combining long and short positions.
  • Move Options – designed to speculate on an asset’s volatility.

What Expiration Periods are Available for Options?

On most exchanges, options on BTC and ETH often come with daily, weekly, and monthly expirations. However, Options for altcoins may offer fewer expiration choices, potentially limiting your trading strategies.

  • Short-term expirations are more sensitive to price movements and volatility, making them ideal for traders looking to capitalize on quick market moves.
  • Long-term options are less sensitive to short-term price fluctuations, making them suitable for longer-term strategic plays.
  • Medium-term expirations balance time decay with volatility exposure.

It is important to select a platform that provides a broad range of expiration periods to suit various trading needs.

What are the “Greeks”?

The “Greeks” are metrics that help traders understand how sensitive an option is to various factors:

  • Delta: Measures the change in an option’s price for each $1 change in the underlying asset.
  • Gamma: Indicates how Delta itself changes as the underlying asset price moves.
  • Theta: Shows the rate at which an option’s value decreases as it approaches expiration.
  • Vega: Reflects how the option’s price changes with shifts in market volatility.
  • Rho: Assesses the option’s sensitivity to changes in interest rates.

Does Liquidity Matter in Options Trading?

Options trading is a relatively new product in the crypto industry. High liquidity is crucial in Options trading as it ensures faster trade execution and tighter spreads, which are essential for entering or exiting positions easily. It is advisable to choose a platform with substantial liquidity to avoid issues with order fulfillment.

How Do Platforms Calculate Options Trading Fees?

Options trading fees are typically more complex than Spot or Futures trading fees. Most platforms charge a trading fee (e.g., 0.03%) on the asset’s value and a separate settlement fee (e.g., 0.02%). The trading fees are usually capped at a percentage of the contract’s value. It’s important to fully understand each platform’s fee structure before trading.

Let’s say you place a 0.3 BTC options trade with a premium of $3,000 while BTC is trading at $42,000.

Trading Fee = (0.02% x 42,000 or 12.5% x 3,000 whichever is lower) x 0.3.

Can Beginners Trade Options?

Many exchanges offer “Easy Options” modes designed to simplify options trading for beginners. These user-friendly interfaces strip away the complexity, allowing you to focus on just a few key questions:

  • Will the crypto price go up or down?
  • What is your investment timeframe?
  • How much do you think the price will change?

These modes make options trading more accessible by removing confusing metrics. That said, it’s still wise to build a basic understanding of crypto markets before diving in.

FAQ

Trading crypto options is considerably more risky than trading spot tokens. While options enable advanced trading strategies, like hedging, options are highly volatile and complex, which can result in total losses. Additionally, options markets are less liquid than spot or futures markets, making order execution more challenging and increasing potential risks.
A call option is when traders buy an asset at a set price before the contract expires. Traders use call options when they are bullish and expect prices to rise. A put option lets traders sell an asset at a set price before the contract expires, useful if the price is believed to go down.
If you hold your options contract until it expires, there are two possible outcomes. In the Money: If the contract is profitable at expiry, most platforms will automatically settle it and credit you with the profit. Out of the Money: If the contract is not profitable at expiry, it will expire worthless, and you will lose the premium you paid for it.
Many platforms provide tutorials, guides, and demo accounts to practice options trading risk-free. Online tools are available to estimate premiums, probabilities, and potential outcomes based on strike prices, expiration dates, and volatility. Additionally, using volatility indicators and understanding the Greeks can help predict a contract's response to market changes.

About the Author

Shennon Hewa is a crypto trader and crypto journalist based in London. Active in the crypto space since 2017, he specializes in scalping, derivatives day trading, and swing trading. At FXEmpire, he has reviewed dozens of crypto exchanges and has extensive knowledge of platform strengths and weaknesses.

Why you can trust FX Empire

At FXEmpire, we strive to provide unbiased, thorough, and accurate exchange reviews by industry experts to help our users make smarter financial decisions.

Why you can trust FX Empire

Founded in 2011, FXEmpire has established itself as one of the pioneering forex broker review sites and has seamlessly extended its expertise to the world of cryptocurrency. You can trust FXEmpire because of our thorough and unbiased review process. With over a decade of experience, we have a team of industry experts who conduct rigorous tests to ensure our reviews are accurate and unbiased. Our reviews aim to bring clarity and confidence to your cryptocurrency selection process, relying on objective criteria and measurable data. Our editorial team, composed of trading industry professionals and seasoned financial journalists, ensures our reviews are trustworthy and objective. Additionally, our review system is based on 6 core categories and over 200 distinct variables, covering all aspects of a crypto platform before giving a final rating. With FXEmpire, you can trust that you are receiving honest and informative reviews that will help you make an informed decision on which crypto platform will best enable you to reach your financial goals.