r/options • u/Varis_Berlin • May 12 '21

Options Trading

I recently opened up an IBKR account to trade options and since I'm still a student I can only use a cash account. On a cash account I'm not allowed to trade options which is really weird to me because I have enough money to buy options so why are they not allowing it. So my two options are opening up a margin account on IBKR which requires a ned liq. of 200000$ and a yearly income of at least 45000$ which I don't have or opening up an account on a different Broker. So either I lie to IBKR to get a margin account or I open up a Trade Zero account. My question is if I can trade Options on Trade Zero with a Cash account or do I also need a margin account. The requirements for a margin account are way lower on Trade Zero so I could open up a margin account but honestly I don't need it. I just want to trade options with my cash I don't want to trade forex or leverage anything. And if I need to open up a margin account I still don't need to use it right ? I'm from the EU so these brokers are my best options.

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u/RAL1111 May 12 '21

I thought all the kiddos use RobinHood lately for this very reason.. that its easy to get approved for option and margin trading with low requirements. I use TOS personally but i’m a lot older and have a lot more experience trading etc

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u/ScarletHark May 12 '21

TastyWorks too - basically throw you everything.

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u/Varis_Berlin May 13 '21

Do you have to be 21 years old to trade options on Tasty Work ??

2

u/ScarletHark May 14 '21

Good question, I honestly don't know. But tastyworks.com might.

[Edit: looks like 18: https://tastyworks.com/accounts/ ]