Asked by Anonymous
Asked on 26 Oct 2019
What are some accounts I require?
If you are an accredited investor, you can get a managed account and get access to Equity options ideas (called ELONs) at Kristal.AI
Do get your KYC and Risk profile done online. Our advisory team is happy to help as you may need.
Learn more from us here: http://bit.ly/36ci0yF
Top Contributor (Jan)
You can open an account with either Interactive Brokers, TD Ameritrade, (to name a few) or any other provider.
Personally, I have an account with TD Ameritrade, they have a superb platform to look at all available options in a single view.
I have once used Interactive Brokers. Interface alright, but not as good as TD.
From what I understand, both brokers still charge brokerage for a client outside the US.
Recently, I learn about First Trade. They charge zero brokerage, but their web-based/desktop version is really old school. But their mobile version is quite ok. Their account opening process is really straight forward and easy too.
Td Ameritrade is what I'm personally using to trade options in the US market. I like it for the robust tools available and yet it is straightforward to use.
If you are new to options, you may wish to find a mentor to guide you first. Not only will you gain access to a relatively established system for options but you will receive guidance as well. Mentorship will come with a price but it will be worth it if you can find the right one. There's usually access to cheaper commissions with a broker also. Options is not something for a beginner to jump into as there's leverage involved hence my recommendation to look for a mentor.
I'm lucky to have found one which allows me to meet my financial goals early.
Hope this helps. Happy to share more if you want to explore going into options. Cheers