BrokersWho needs Brokers? You will in order to conduct you trading investments in the stock market. If you do not already have a brokerage firm, please get signed up with one as soon as possible. So how do you choose which broker you should get?
Things to consider when you are looking for a Broker; Do they have a paper trading system in place on their software? What are their
commissions
? And what level of trading approval will you get?
Listed below are a few firms to consider: Charles Schwab ETrade Options Express Think or Swim
When completing the application for a firm you will be assigned a trading level based on your experience and funds available. Below is the definition of the different levels. - Level 1: Trading in Options is restricted to the covered call strategy. - Level 2: Trading is restricted to Level 1, plus the buying of Call and Put Options. - Level 3: Trading is restricted to Levels 1 & 2, plus the trading of Option spread strategies. - Level 4: Trading is restricted to Levels 1, 2, 3, plus the selling of naked equity options. - Level 5: Trading is restricted to Levels 1, 2, 3, 4, plus the selling of naked index Options.
Now you are ready, happy trading!
 
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