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Options Trading July 2022 - Which is the best platform and rates at the moment for a beginner to start off on?
With a wide array of options trading platforms from TD Ameritrade, IBKR, Moomoo, Tigerbrokers to the latest WeBull, may I seek advice from the experts on which to start off for a beginner who wishes to utilise basic strategies like 'Wheel' 'Covered Calls' 'Rolling Cash Secured Puts' etc.
Thanks in advance!
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I recommend to use TDA . Easy to use.
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Lim Chun Long Jimmy
10 Jul 2022
Co-founder at PolicyWoke (Traded Endowment Policies)
Hi Han,
I recommend TD Ameritrade for trading options because:
- They support spreads trading (...
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I've been trading options live on thinkorswim (TD Ameritrade) for close to a year. To add on to those who have also recommended the same platform, "TD Ameritrade will not charge you a commission to close out a short leg in any option priced lower than $0.05."
A bit about my live trading history. Last year, my main strategy is bull put spread on SPX. Some time in the beginning of this year, I switched to Poor Man's Covered Call (PMCC) on a few Dow Jones components like MRK, KO and VZ. I've also been selling cash-secured puts on AMC for a while (rolled out twice already, haven't assigned shares yet).