How we make this list: we compare pricing pages, product documentation and public user reviews. Ratings come from G2, Capterra or Trustpilot, with the date we checked them.
Key takeaways
- US retail traders cannot trade oil CFDs, so this list covers exchange traded futures and oil ETFs, not the CFD brokers that dominate non US rankings.
- Interactive Brokers charges 0.25 to 0.85 dollars per futures contract on tiered pricing, with exchange set futures margin and access to CME and ICE contracts.
- Charles Schwab charges 2.25 dollars per futures contract, while NinjaTrader and TradeStation price per contract per side plus exchange, clearing, and NFA fees.
- Micro WTI crude represents 100 barrels, so position size and margin matter more than headline commissions for small accounts.
- This is general information, not financial advice, and oil futures trading carries a high risk of loss, including losses beyond the initial deposit when margin is used.
Quick comparison
| Tool | Best for | Starting price | Free plan |
|---|
 Interactive Brokers | Multi asset futures at scale | $0.25 to $0.85 per contract | No |
 Charles Schwab | Bank backed futures trading | $2.25 per contract | No |
 NinjaTrader | Futures focused charting and execution | See website | No |
 TradeStation | Active futures traders | See website | No |
 tastytrade | Futures with options crossover | See website | No |
 E*TRADE | Bank backed futures access | See website | No |
 Webull | Mobile futures for newer traders | See website | No |
 Robinhood | Simple app with futures access | See website | No |
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Starting price$0.25 to $0.85 per contract
Free planNo
What we like- Interactive Brokers charges 0.25 to 0.85 dollars per futures contract on tiered pricing, or 0.85 dollars fixed, plus exchange fees, and offers dated commodity futures alongside stocks, options, and forex. Margin follows exchange set levels, and the platform supports more than 100 order types plus API access for automated strategies. It suits traders who trade CME contracts actively at scale and want futures next to other asset classes in one account.
Watch out for- The platform is complex, and beginners face a steep learning curve with Trader Workstation. Customer service is thinner than bank brokers. The breadth of markets and order types can overwhelm traders who only trade oil, and futures margin means losses can exceed the initial deposit.
Starting price$2.25 per contract
Free planNo
What we like- Charles Schwab charges 2.25 dollars per futures contract and offers dated commodity futures through a bank backed brokerage with branch service and research. Margin follows exchange set levels, and futures sit alongside stocks, ETFs, and options in one account. The platform suits investors who want futures access without leaving a full service brokerage.
Watch out for- The 2.25 dollar per contract fee is higher than Interactive Brokers tiered pricing for active traders. Futures tools are less specialized than NinjaTrader or TradeStation, with fewer futures specific charting and automation features. Account approval for futures requires experience and risk acknowledgement, which can delay new traders.
Starting priceSee website
Free planNo
What we like- NinjaTrader is built for futures traders, with advanced charting, market depth tools, and automated strategy support on CME and ICE calendars. Pricing is per contract per side plus exchange, clearing, and NFA fees, and the platform offers micro contracts that suit smaller accounts. Futures focused education and simulation trading help new traders practice before risking capital.
Watch out for- Pricing is not published as a single headline figure, since per contract costs vary by plan and add exchange, clearing, and NFA fees on top. The platform is futures only in focus, so traders who also want stocks and ETFs need a second account. Advanced features carry a learning curve, and live data fees apply.
Starting priceSee website
Free planNo
What we like- TradeStation offers dated futures and micros on CME and ICE calendars, with per contract per side pricing plus exchange, clearing, and NFA fees. Its charting and strategy testing tools suit active traders who build and backtest rules, and the platform supports stocks, options, and futures in one account. Execution is fast, which matters around inventory releases when spreads widen.
Watch out for- Pricing varies by plan and is not a single published headline, so total cost needs a quote. The platform is dense for beginners, and futures margin rules require care. Some features carry data fees, and the learning curve is steeper than a simple mobile app.
Starting priceSee website
Free planNo
What we like- Tastytrade suits traders who move between options and futures, with a platform built for active derivatives traders and education content aimed at strategy mechanics. Futures margin follows exchange set levels, and the interface shows risk and buying power clearly. It suits traders who want futures alongside a strong options offering in one account.
Watch out for- Pricing is not published as a single headline figure and varies by product, so traders should confirm futures commissions before funding. The platform is geared to active traders, so buy and hold investors will find it busy. Futures approval requires experience, and margin trading can produce losses beyond the deposit.
#6E*TRADE
Best for: Bank backed futures access4.0/5 on
G2 (24 reviews, checked Oct 2026)
Visit etrade.com
Starting priceSee website
Free planNo
What we like- E*TRADE offers futures access inside a bank backed brokerage, with stocks, ETFs, options, and futures in one account and research tools alongside. The platform suits investors who want occasional futures exposure without opening a specialist account. Bank backing brings branch service and integrated banking.
Watch out for- Futures pricing is not published as a simple headline and should be confirmed before trading. Futures tools are thinner than NinjaTrader or TradeStation, with fewer specialized charting and automation features. Active futures traders will find per contract costs and tools less competitive than specialist brokers.
Starting priceSee website
Free planNo
What we like- Webull offers futures trading in a mobile first app with charting and screeners that suit newer traders, and stock and ETF trades carry 0 dollar commissions. The app makes opening an account and placing a first futures trade fast, and micro contracts suit smaller accounts. It suits traders who want futures access in the same app they use for stocks.
Watch out for- Futures pricing and data fees should be confirmed, since published headlines focus on stock and ETF commissions. Platform depth lags NinjaTrader and TradeStation for advanced futures strategies. Customer service is app based rather than branch based, which matters when a margin call or a fast market needs a human.
Starting priceSee website
Free planNo
What we like- Robinhood offers CME futures trading inside the simplest app on this list, with stock and ETF trades at 0 dollar commissions and fractional shares from 1 dollar. The interface makes placing a first futures trade easy, and micro contracts suit smaller accounts. It suits beginners who want futures exposure without learning a specialist platform first.
Watch out for- Futures pricing, data fees, and contract availability should be confirmed, since published headlines focus on stocks and ETFs. Tools for advanced futures strategies are thinner than specialist platforms, and research is lighter than bank brokers. Margin trading can produce losses beyond the deposit, so position sizing matters more than the app choice.
How we chose
We ranked platforms on US accessibility, futures commissions, exchange set margin treatment, contract range including micros, charting and automation tools, and account fit. Platforms earned credit for published per contract pricing, micro contract support, and CME and ICE access. We excluded CFD only brokers such as Pepperstone, IG, Capital.com, and XTB, since US retail traders cannot open those accounts, and we excluded unregulated offshore venues. Figures come from published pricing and 2026 comparison reporting, and readers should confirm current terms directly, since futures commissions and data fees change.
Start with what you are allowed to trade: as a US retail trader, that means exchange traded futures and oil ETFs, not CFDs, so ignore global rankings built on CFD spreads. Next, convert every contract into dollar exposure before comparing, since Micro WTI at 100 barrels and standard contracts at much larger sizes behave very differently in a small account. Then compare total cost, not headline commission alone: per contract fees plus exchange, clearing, and NFA fees plus data fees plus roll costs between contract months make up the real bill. Check margin rules and position sizing carefully, since oil gaps at the weekly open and widens around inventory releases, and a small account can be damaged by a normal move. Finally, practice in simulation before funding a live account, and set a maximum loss per trade, since no platform choice fixes an oversized position.
Frequently asked questions
Can US traders trade oil CFDs?
No. Contracts for difference are not available to US retail traders, so brokers such as Pepperstone, IG, Capital.com, and XTB cannot offer oil CFDs to US residents. US traders use exchange traded futures and oil ETFs instead.
What is the difference between WTI and Brent?
WTI and Brent are separate crude benchmarks with their own prices, spreads, and rollover schedules. WTI tracks US crude, Brent tracks North Sea crude, and they do not move identically, so check which benchmark a contract tracks before comparing prices.
What is a Micro WTI contract?
CME Micro WTI crude represents 100 barrels, much smaller than standard crude contracts. Micros suit smaller accounts, but margin and gap risk still apply, so position size must fit the account.
Why did my oil position change value overnight?
Most often it is contract rollover. An oil future tracks a specific contract month that expires, and when exposure rolls to the next month the price difference is accounted for with a cash adjustment. It applies at every broker and is mechanics rather than a fee.
Do oil spreads widen on inventory day?
Yes, at every broker, since liquidity thins around scheduled releases such as weekly inventory data. On a per contract pricing model you can see exactly what the move cost, since commission is fixed separately from the spread.
Is oil too volatile for a small account?
Oil is unforgiving of undersized accounts. Its contract size and tendency to gap at the weekly open mean a small account can be damaged by a normal move, not an unusual one. Size the position to the account rather than to the opportunity.
Sources we checked (0)
Is your product missing or out of date?
We review this list regularly. Vendors can request a listing, send updated pricing or ask about featured placement.
Shihab Mia · Founder, Rankite
Shihab has 5+ years in B2B and SaaS SEO. He writes Rankite's software buying guides from pricing pages, documentation and public user reviews. More about Shihab.