Best Options Prop Firms 2026: Trade With Funded Capital

Last updated: May 2026

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Most funded trader programs are built for forex or futures. Options prop trading firms are a smaller niche, and pure options-only operators are rare. That’s the structural reality of the market in 2026, and it shapes everything that follows on this page.

If you’ve already searched for prop firms for options trading, you’ve probably noticed the same names repeating across every blog and the same vague rules being summarized at every site. This guide goes deeper. It covers every prop firm that meaningfully supports options trading — whether that’s equity options (calls and puts on stocks like AAPL or SPY), futures options (options on /ES, /NQ, /CL, /GC contracts), or index options (cash-settled SPX, NDX, XSP). Some firms specialize in one. A handful cover all three. The differences matter a lot for what strategies you can run, how much capital you can access, and what the firm will pay out.

All firms below offer remote, online-only funded accounts available worldwide (with country restrictions noted where they apply). None of these are local brokerage branches — every program is digital, evaluation-based, and accessible from anywhere with a stable connection.

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TL;DR: Best Options Prop Firms in 2026 (Quick Comparison)

Firm	Options Types	Instruments	Platform	Min Account Fee	Profit Split	Key Restriction
Maverick Trading	Equity, Index, ETF	Stocks + Options + Forex	TradeStation, ToS	$199/mo subscription	Up to 80%	Mentorship-gated funding
Trade The Pool	Equity, ETF	Stocks + Options	Trade The Pool platform	From $97	Up to 80%	Day-trading focus, limited overnight
Vanquish Trader	Equity, Index	Stocks + Options	DAS Trader, Sterling	From $99	Up to 90%	All positions liquidate at 3:59 PM ET
Funder Trading	Equity, Index	Options (dedicated track)	ToS, Tastytrade	From $159	Up to 80%	Options-specific challenge
Topstep	Futures Options	Futures + Options-on-Futures	NinjaTrader, Tradovate, TradingView	From $49/mo	Up to 90%	No overnight in evaluation; weekly loss limit
DNA Funded	Futures Options	Forex + Futures + Options	MT5, cTrader	From $89	Up to 90%	Options on /ES, /NQ, /CL only
T3 Trading Group	Equity, Index	Stocks + Options	T3 Capture, Sterling	Capital contribution model	50-90% tiered	Series 57 license required
SMB Capital	Equity, Index	Stocks + Options	Custom desk software	Training program fee	Tiered after profitability	Active mentorship, NYC desk option
PropShopTrader	Equity, Futures Options	Stocks + Futures	Rithmic, Sterling	From $59	Up to 80%	Multi-asset, generalist
Integra Trade	Equity, Index	Stocks + Options + Futures	Sterling, DAS	Custom	Negotiated	Application-based, US-focused

Data verified May 2026. Always confirm pricing and current rules directly on each firm’s site — promotional offers and program structures change frequently.

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Can You Actually Trade Options at a Prop Firm?

Yes — but the answer comes with a substantial asterisk that most search results gloss over.

The vast majority of prop firms you’ve seen advertised (FTMO, FundedNext, The5ers, MyForexFunds-style operators) fund forex CFD traders. A separate large category funds futures day traders (Topstep, Apex Trader Funding, MyFundedFutures). Pure equity options funded accounts are far less common, and the firms that do offer them tend to operate one of three models:

1. Subscription + evaluation hybrid — pay a monthly fee, pass criteria, get scaled access (Maverick Trading, Trade The Pool)
2. Challenge-based — one-time fee, hit profit target without breaching drawdown, get a funded account (Vanquish Trader, Funder Trading)
3. Capital contribution / desk — put up a small deposit or training fee, get added to a registered broker-dealer with leverage (T3 Trading Group, SMB Capital — these often require US securities licensing)

The reason equity options funding is scarcer than forex or futures funding is straightforward: options have asymmetric risk profiles. A short naked call has theoretically unlimited loss exposure. A short put on a stock that gaps down 30% on earnings can wipe out an account in minutes. Firms have to underwrite that tail risk, and it requires more sophisticated risk systems than a forex book where a stop-loss caps the damage.

That’s why most options prop firms restrict permitted strategies, cap your Greeks exposure (especially vega and gamma), and either prohibit holding through expiration or require you to close positions well before the close on expiration Friday.

If you trade futures options specifically (think monthly /ES or /NQ options), the futures-focused firms like Topstep and DNA Funded are usually a better fit than the equity-options firms — you’ll get access to options-on-futures through the same platform you’d use for outright futures trades, without the platform fragmentation of moving between equity and futures venues.

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The 3 Categories of Options Prop Firms

The options trading prop firms in this guide fall into three distinct categories. Categorize the field this way before you compare individual firms. The category determines the platform, the instruments, the regulatory backdrop, and (most importantly) what your options strategies can actually do.

1. Dedicated Options Prop Firms

These firms were built specifically for options traders from inception. Maverick Trading, Vanquish Trader, and Funder Trading sit here. Expect platforms tuned for options chains (Thinkorswim, Tastytrade, DAS Trader Pro), risk rules written specifically for vega and gamma exposure, and challenges that test you on options-style P&L curves rather than spot pip targets.

2. Futures Prop Firms Allowing Options-on-Futures

Topstep, DNA Funded, and Apex Trader Funding fall here. The core product is a futures evaluation, but options-on-futures (/ES options, /NQ options, /CL options, /GC options) are permitted in many account tiers. You’re paying for a futures account that also lets you trade options — which works well if your primary edge is in /ES weeklies or /CL events.

3. Hybrid Equity-Options Firms

Trade The Pool, PropShopTrader, T3 Trading Group, SMB Capital, and Integra Trade live here. These firms fund traders across stocks, ETFs, and options. They tend to attract traders running stock+options combinations (covered calls, long stock + protective puts, vertical spreads tied to underlying positions). Capital is generally larger than at challenge-based options-only firms, but the path to funding is longer and more selective.

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Best Options Prop Firms in 2026 (Detailed Reviews)

The reviews below cover the leading option trading prop firm names from each category — organized by best-fit use case. Each section leads with a different angle — funding model, instrument access, restriction profile — so you can locate the firm that actually matches your strategy rather than just the loudest brand.

1. Maverick Trading — Best Overall for Equity Options

Founded in 1997, Maverick Trading is the longest-running dedicated options prop firm in the SERP. Their model is a monthly subscription ($199/month after an upfront training cost) combined with structured mentorship. Once you pass their internal evaluation, you trade firm capital with profit splits scaling up to 80%.

What makes Maverick a default recommendation for equity options traders:

• Strategy permissiveness: spreads, iron condors, butterflies, calendars, and covered positions are all allowed
• No daily drawdown gimmicks: position sizing is governed by Greeks-based risk limits, not arbitrary daily P&L caps
• Platform support: TradeStation, Thinkorswim, and Tastytrade integration
• Mentorship: weekly cohort calls and trade reviews are part of the membership

The trade-off: the subscription model means you pay monthly even when you’re flat, and the upfront training is required (not optional). If you’re already a profitable options trader looking for capital and friction-free access, the mentorship layer may feel like overhead. If you’re scaling up from a $5k personal account and want a structured path, it’s the closest thing to an apprenticeship in the funded space.

Best for: equity options traders who want long-term capital access and don’t mind a curriculum.

2. Trade The Pool — Best for Stocks + Options Combo Trading

Trade The Pool came out of the 5%ers stable and is purpose-built for US equities and equity options. Account sizes run from $20k to $260k buying power on the evaluation tier, and the profit split tops out at 80% on funded accounts.

Standout details:

• Direct market access via the proprietary Trade The Pool platform
• Both day-trading and swing-trading accounts available (rare in the options funded space)
• Profit targets are based on net P&L, not just options premium — so covered-stock-plus-options strategies are scored cleanly
• Multiple concurrent accounts are permitted, which matters if you run delta-neutral structures across several underlyings

Restrictions to know: overnight holding is limited on the day-trading tier (most options positions must close by the bell), and the platform’s options chain — while functional — isn’t quite as polished as Thinkorswim or Tastytrade. Eligible markets are US-listed equities and options only.

Best for: traders running stock + options combinations (covered calls, collars, long stock + puts) who want a single platform for both legs.

3. Vanquish Trader — Best for Active Options Day Traders

Vanquish Trader is the newest of the dedicated options prop firms in the SERP and has aggressively positioned itself as the fast-payout, day-trading-only option. Profit splits scale to 90%, and accounts run from $5k to $100k. Challenge fees start around $99.

The defining rule at Vanquish: all positions are auto-liquidated at 3:59 PM ET. No exceptions, no overnight, no holds through earnings. For options day traders this is either a feature or a deal-breaker depending on your style — gamma scalpers and 0DTE traders won’t blink, but anyone running a diagonal or calendar across days has to look elsewhere.

Other notable points:

• Platforms: DAS Trader Pro and Sterling
• Greeks exposure is monitored but not aggressively capped on day-only positions
• Payouts processed in 24-48 hours after eligibility
• Sim-to-fund model: you trade a simulated environment until you hit the funded threshold

Best for: 0DTE traders, intraday scalpers of SPY/QQQ options, and anyone whose entire edge closes before the bell.

4. Funder Trading — Best Options-Specific Challenge

Funder Trading runs a dedicated options challenge track alongside its forex and futures tracks. Account sizes start at $25k and scale to $200k, with profit splits up to 80% and fees beginning around $159.

The options track is scored differently from a typical forex challenge — instead of pip targets, the firm uses dollar P&L thresholds calibrated to realistic options returns (no one’s hitting 10% in a week on a vertical spread), and drawdown rules account for the gappy P&L curves that defined risk strategies produce.

• Permitted strategies: long calls/puts, vertical spreads, iron condors, calendars, diagonals
• Restricted: naked short options (calls or puts without offsetting positions), positions held through earnings
• Platforms: Thinkorswim, Tastytrade
• Reset and rebalance options available if you breach soft limits

Best for: defined-risk options traders (spread sellers, condor sellers) who want a challenge calibrated to options math.

5. Topstep — Best for Futures Options Traders

Topstep is the largest and longest-running futures prop firm, and its programs include options-on-futures trading on top of outright futures. If you trade /ES weeklies, /NQ monthlies, or /CL premium-selling strategies, Topstep is the most established platform for funded access.

Account tiers (Trading Combine):
– $50k account: $49/month
– $100k account: $99/month
– $150k account: $149/month
– $200k account: $199/month

Profit splits start at 100% on the first $10k and then 90% above that. The evaluation phase has clear rules: hit a profit target, don’t breach the daily or trailing maximum loss, trade for at least the minimum number of days.

Options-specific notes:
– /ES, /NQ, /CL, /GC, /6E, and other major contracts all have options chains accessible through Tradovate, NinjaTrader, and TradingView
– No overnight positions during the evaluation phase (futures options included)
– Funded accounts allow overnight holding within margin requirements
– Weekly loss limits apply on top of the trailing drawdown

Best for: futures-options traders who want predictable rules and the largest funded-trader ecosystem in the futures space.

6. DNA Funded — Best Multi-Asset Options + Futures

DNA Funded started in forex and futures and has expanded to include options-on-futures on the major contracts. Their differentiator is MT5 and cTrader platform support, which is unusual for options-permitting firms (most stick to NinjaTrader/Tradovate for futures or DAS/Sterling for equities).

• Profit splits up to 90% after meeting funded-account criteria
• Account sizes from $5k to $200k
• Options permitted on /ES, /NQ, /CL — limited to defined-risk structures
• 14-day minimum trading window before payout eligibility

The catch: DNA Funded’s options coverage is narrower than Topstep’s, and the platforms (MT5, cTrader) aren’t built around options-first workflows. If your edge is in equity options, this isn’t your firm. If you already trade MT5 and want to add /ES options to your book, it’s a clean expansion.

Best for: existing MT5/cTrader traders adding futures options to a forex book.

7. T3 Trading Group — Best Institutional Path

T3 Trading Group is a registered broker-dealer with a proprietary trading division. This is a fundamentally different model from challenge-based funded accounts. You become a registered representative (Series 57 required), put up a capital contribution (typically $5k-$10k), and trade firm capital with institutional infrastructure.

Why it matters for serious options traders:
– Direct market access on multiple exchanges (NYSE, NASDAQ, ARCA, BATS, BOX, CBOE)
– Portfolio margin available at higher capital tiers
– Lower commissions than retail platforms
– True institutional risk management, not retail-style daily drawdowns

The trade-off: this is a job-adjacent path. You need to pass FINRA exams, you’ll be subject to FINRA supervision, and the firm expects you to act as a professional trader — not a casual challenge-taker. Profit splits run from 50% at entry tiers to 90% for established traders with significant P&L.

Best for: traders aiming for a professional career path who can commit to securities licensing.

8. SMB Capital — Best for Structured Training + NYC Desk Option

SMB Capital is a New York-based proprietary trading firm that funds traders through a structured training program, after which qualified traders are added to the firm’s capital. Like T3, this is closer to a job than a challenge.

The path:
– Pay for the training program (cost varies by track)
– Demonstrate consistent performance in simulation, then small live capital
– Scale up to firm capital with tiered profit splits
– Option to relocate to the NYC desk for top performers (not required)

Why it lands on this list despite the higher barrier: SMB has produced multiple well-known options traders and has deep expertise in options-on-equities for active traders. The training material on options structures, volatility, and earnings plays is among the more substantive in the industry.

Best for: traders who want a multi-year career path with structured education, not a quick funded account.

9. PropShopTrader — Best Multi-Asset Generalist

PropShopTrader is a newer entrant offering a multi-asset evaluation across stocks, futures, and options. Fees start around $59 for entry-level accounts, and the firm scales up to $200k buying power on advanced tiers with up to 80% profit split.

This is the firm to consider if you don’t want to silo your strategy. You can run a futures day-trading book in /ES, hedge with /SPY options, and hold a long-stock-plus-collar position in your account simultaneously. Few options-permitting firms support that breadth at the entry-fee level.

• Platforms: Rithmic for futures, Sterling for equities and options
• Drawdown rules apply at the account level (not per-instrument)
• Limited brand recognition vs. Topstep or Maverick — earlier-stage firm with corresponding execution-risk premium

Best for: cross-instrument traders running options as one leg in a broader book.

10. Integra Trade — Best for US-Based Active Traders

Integra Trade is a more selective firm with an application-based onboarding process. They fund stock, options, and futures traders, with platform support for Sterling and DAS Trader.

The model is closer to T3 than to a challenge-based firm: you apply, demonstrate trading history, and negotiate a capital allocation. Profit splits and fees are not publicly listed — they’re set per-trader during onboarding.

This firm earns a spot here because it’s one of the few that will fund pure options strategies with negotiated terms instead of fitting you into a one-size-fits-all challenge tier. If you have a documented track record and want to skip the funded-trader assembly line, Integra is worth an application.

Best for: experienced traders with documented P&L who want negotiated terms.

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Options-Specific Rules to Watch Before You Sign Up

Generic “best prop firm” articles skim over the rules that actually matter for options. The reality at most options prop trading firms is that the marketing page promises broad strategy permissiveness while the underlying risk document quietly restricts the trades you actually want to make. Read this section before you pay for a challenge. The wrong assumption about any of the items below can blow up an otherwise-profitable strategy on day one.

Greeks Exposure Limits

Most options-permitting firms cap your total vega, gamma, and delta exposure across the account. A typical limit at a $50k account might be:

• Net delta: ±1,000 share-equivalent
• Net vega: capped at $500-$1,000 per percentage point of implied volatility move
• Net gamma: capped to prevent runaway delta acceleration

If you sell premium across many positions, vega caps can constrain you well before margin caps would. Always check the firm’s risk doc — not the marketing page — for the actual numbers.

Expiration and Holding Rules

Options have a hard expiration. Firms handle this in three distinct ways:

1. Close before expiration: positions must be closed N days before expiry (commonly 1-3 trading days). Failing to close is a soft breach.
2. No expiration holding: positions in the expiration week are either rolled or closed automatically.
3. Permitted with monitoring: positions can run to expiration but the firm monitors assignment risk.

If you run weekly income strategies (selling weeklies, 0DTE iron condors, expiration-day SPX trades), you need a firm that explicitly permits same-day expiration trades. Vanquish Trader, Funder Trading, and Topstep all allow it within their rules. Maverick Trading typically requires positions to be managed at least one day before expiration on structured trades.

Strategy Restrictions

Common explicit restrictions:

• Naked short options (uncovered short calls or short puts without offsetting positions): prohibited at most challenge-based firms regardless of margin
• Spreads (vertical, calendar, diagonal): permitted at all firms in this guide
• Iron condors and butterflies: permitted at firms that allow spreads; some firms cap the wing-width to control max loss
• Earnings holds: prohibited at most challenge-based firms; permitted at institutional firms (T3, SMB) under risk management approval
• Pin risk plays / assignment-driven strategies: usually prohibited unless explicitly approved

Margin and Buying Power

Reg-T margin is the default at most equity-options firms. Portfolio margin is rarer and usually only available at institutional-style firms (T3, SMB Capital, sometimes Integra Trade) once you’re past the evaluation phase. If your strategy depends on portfolio margin (sold premium with offsetting Greeks against long stock or long index), confirm it’s available before committing.

For futures options, SPAN margin applies, which is significantly more capital-efficient than Reg-T for short premium strategies. This is one of the strongest arguments for trading futures options at a firm like Topstep over equity options at a challenge-based firm.

Event Restrictions

A handful of firms restrict trading around major economic events — FOMC decisions, NFP releases, CPI prints. The restrictions usually apply to forex/futures positions but can extend to index options. Read the rules document for “news trading” and “high-impact event” language before assuming you can hold a 0DTE through 8:30 AM ET CPI.

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How to Choose the Right Options Prop Firm

Match the firm to the strategy. When you’re comparing prop firms for options trading, three questions cut through most of the noise:

1. What’s your primary instrument — equity options, futures options, or both?
– Equity options only → Maverick, Trade The Pool, Vanquish, Funder Trading
– Futures options only → Topstep, DNA Funded
– Both → PropShopTrader, T3 Trading Group, SMB Capital, Integra Trade

2. What’s your typical holding period?
– Intraday only → Vanquish Trader (auto-liquidation at 3:59 ET enforces this anyway)
– Multi-day to multi-week → Maverick, Trade The Pool, Funder Trading, Topstep funded tier
– Weeks to months on swing/position structures → T3, SMB, Integra (institutional firms with overnight tolerance)

3. What’s your tolerance for monthly subscription vs. challenge-based fees?
– Monthly subscription (predictable but ongoing) → Maverick Trading, Topstep
– One-time challenge fee (cheaper if you pass) → Vanquish, Funder Trading, Trade The Pool, DNA Funded, PropShopTrader
– Capital contribution + licensing → T3, SMB, Integra

Beyond those three, two more checks worth running:

• Payout speed: ask in the firm’s Discord or Reddit. Marketing pages say 24 hours; reality at smaller firms can be a week or more.
• Reset / rebalance terms: if you breach a soft limit on day 8 of a 30-day challenge, can you reset for a fraction of the original fee? Some firms quietly charge nearly the full fee again.

For broader prop firm context beyond options, see our main best prop firms guide. If you’re leaning toward the futures-options route, the best futures prop firms page covers every major futures firm including the options-on-futures features at each. Forex-focused traders evaluating a multi-strategy approach can compare against our best forex prop firms breakdown.

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Bottom Line

If you’re new to the funded-trader space generally, start with our explainer on what a prop firm actually is before committing to any challenge fee.

If you trade equity options as your primary instrument, Maverick Trading remains the longest-established and most strategy-permissive of the options prop trading firms covered here, though the subscription model isn’t for everyone. Vanquish Trader and Funder Trading are the most aggressive challenge-based options firms in 2026, with Vanquish dominating intraday and Funder dominating defined-risk multi-day structures.

For futures options, Topstep is the default — largest ecosystem, clearest rules, deepest contract coverage. DNA Funded is a credible alternative if you’re already on MT5/cTrader.

For the long path — a real professional trading career with institutional infrastructure — T3 Trading Group and SMB Capital are the firms that fund traders for years, not months.

The category is still small. New entrants appear quarterly, and a few of the firms on this list will likely change their rules, pricing, or even existence in the next 12 months. Rules and pricing on this page were verified May 2026 — always confirm directly on the firm’s site before committing capital.

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Risk Disclosure

Options trading involves significant risk and is not suitable for all investors. You may lose more than your initial investment. Trading options carries the risk of total loss of premium for buyers and theoretically unlimited losses for uncovered options sellers. Past performance does not guarantee future results. This content is for informational and educational purposes only and is not financial advice. Funded-trader programs typically use simulated accounts during the evaluation phase, and live-trading rules vary by firm — review the firm’s terms & conditions in full before purchasing any challenge or subscription. Profit splits, account sizes, and rules cited above are self-reported by each firm or sourced from publicly available marketing materials as of May 2026 and may have changed since publication. Affiliate compensation does not influence editorial rankings on this page — see our review methodology for the criteria used.

FAQ — Options Prop Trading Firms