I am wondering if anyone here has experience with getting approval to trade future options?
I am hearing TastyWorks is the easiest since the owner has trading experience and knows how to mange their risk. However, their margin rates are pretty expensive.
I am mainly interested in InteractiveBrokers but unsure on their requirements.
I tried TD Ameritrade and they won't let you buy call/puts on futures unless you reach the highest tier approval. This seems quite nonsensical considering there is 0 risk to the broker if the trader just buys calls/put and does no selling. Is this the industry standard for future options or Am I missing something?
If anyone got approval on future options on IB and know what got it, please share
I both buy and sell future options on the platform I use which is the E-Futures platform. My broker at Cannon Trading has to get me approved for the quantity I trade sometimes but usually with my account size and my trading ability it's usually not an issue. I know from some friends who have accounts with IB that IB sometimes charges a fees for options you hold overnight or for a period of time. I haven't experience such a fee with my specific broker. I have my IRA / stock account with TD Ameritrade but I don't trade futures with them because they require full margin requirements with futures and future options and you have to get approved.
