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How do I choose an options broker?

How do I choose an options broker?

Before you can take advantage of options, you’ll need authorization to trade them separate from any other authorization you may have. The fact that you have a stock brokerage account does not mean you are authorized to trade options. You must request an options authorization separately.

There are numerous brokers to choose from, and just because you like your current broker for equity trades doesn’t mean they support options trading well. Barron’s Magazine’s annual ranking of online brokers is a valuable informational resource for investors looking for a broker. You can also see a Comparison of online options brokers, including the brokers most often used by experienced Investing Daily members.

At Investing Daily, we’re not affiliated with any particular brokers.

Note that you will need a Level 3 authorization or higher to use many of Investing Daily’s services which recommend option spreads. See how to get approved for a higher level of authorization.

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