We present the design of a type of compact toroidal, or “halo,” ion trap. Such traps may be useful for mass spectrometry, studying small Coulomb cluster rings, quantum-information applications, or other quantum simulations where a ring topology is of interest. We present results from a Monte Carlo optimization of the trap design parameters using finite-element analysis simulations that minimize higher-order anharmonic terms in the trapping pseudopotential, while maintaining complete control over ion placement at the pseudopotential node in three dimensions using static bias fields. These simulations are based on a practical electrode design using readily available parts, yet can be easily scaled to any size trap with similar electrode spacings. We also derive the conditions for a crystal structure transition for two ions in the compact halo trap, the first nontrivial transition for Coulomb crystals in this geometry.