WHAT KIND OF TRADING ACCOUNT DO I NEED?

You’ll need to have an account that’s cleared to trade options. You may already have this in place. If not, you can get this sorted out by answering just a few questions, but you will need about 48 hours before you can place your first trade.

Most options firms require a minimum deposit of $2,000 to $3,000, and to get started, it generally takes only the time required to get your money cleared through your broker. But if that doesn’t fit your budget, no worries. New brokers like Robinhood offer a free trading platform with no account minimum, which means that everyone has options available to them.

Most of our Project 303 and Super Options trades will require at least a Level 2 clearance (though that level is named differently by different brokers).

Here is a full list of brokers on Money Map Press, and please contact the broker to learn more about their options trading services.

Category: Getting Started