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MIAX Options Review
MIAX Options is a group of US options and equities exchanges owned by Miami International Holdings. It is not a broker, so there is no retail account or deposit here.
Min Deposit
N/A
Spreads From
Not applicable, MIAX does not quote broker style spreads
Max Leverage
Not applicable, leverage depends on a trader's own broker, not on MIAX
Platforms
MIAX Options, MIAX Pearl
Pros
- Registered with the SEC across several linked options and equities markets
- Backed by Miami International Holdings, now a public NYSE listed company
- Runs a real futures market too, overseen separately by the CFTC
- No SEC or FINRA fine found against the exchange group itself
Cons
- Not a broker, so there is no retail account, deposit, or spread here
- Four linked options venues can confuse readers looking for one exchange
- Only reachable through a broker or trading firm, never a direct sign up
- Now a public company, adding earnings pressure not seen before 2025
Miami International Holdings was set up in Delaware in 2007. Its first market, MIAX Options, opened in December 2012 after SEC approval, aiming to compete with older options exchanges on speed and pricing.
The group has since added MIAX Pearl, MIAX Emerald, and MIAX Sapphire for options, MIAX Pearl Equities for stocks, the MIAX Futures Exchange, and the Bermuda Stock Exchange. All the US markets are registered with the SEC, and the futures venue answers to the CFTC. There is no login or deposit for individual traders, only member brokers and trading firms connect directly.
In August 2025, Miami International Holdings became a public company on the NYSE, selling 15 million shares at $23 each and raising $345 million. We found no SEC or FINRA fine against the exchange group itself, only routine minor rule violation plans that most options exchanges file.
Max Leverage
Not applicable, leverage depends on a trader's own broker, not on MIAX
Spreads From
Not applicable, MIAX does not quote broker style spreads
Platforms
Regulators
- SEC (USA)
- CFTC (USA)
