Getting started with options: How to get approved for a margin account



This tutorial explains how I got TD Ameritrade margin account approval in about 7 minutes as a beginner trader. This is the first step if you want to start trading options. The main reason that you would want to trade options is that it allows you to hedge risk in high volatility, and it allows you to profit from big downturns in the market. If you want your money to multiply instead of evaporate in the next financial crisis, you are going to need to learn how to trade options. The best resources I have found for general options education are tastytrade: https://tastytrade.com and dughjo: https://support.dough.com/hc/en-us/articles/203064269-Lesson-Quiz-Overview However, if you are like me, you will learn better if you have money on the line. We're not talking big risky bets, but something small with 80% or more probability of profit to get you following a stock closely and start to understand the benefits of options. Before you can do that, you need to get approved for a margin account. The reality is that a brokerage like TD Ameritrade can't approve you to trade options unless you have experience, but you can't get that experience without an account. When I wanted to start trading options I noticed this very frustrating catch 22. This guide is specifically for Tier 2 TD Ameritrade margin account approval. Although I can't see any reason you'd want to trade options anywhere else (because TD owns Thinkorswim and Dough), feel free to leave a comment if you would like help with another platform. Disclaimer: We do not suggest that you lie on your brokerage application. That would be wrong. This is simply a breakdown of how we filled out the application and got approved. My blog post with a written tutorial and 90 day free trade offer code: http://marginapproval.com/td-ameritrade-margin-account-approval-tutorial/ If you don't see an email right away just submit your info again. Feel free to comment or email with any questions. More beginner options tutorials coming soon.

Comments

  1. Can non-U.S. residents open an account?
  2. By the way, awesome tutorial!!! Thanks!
  3. I hope that's not your real social security number at 4:47!


Additional Information:

Visibility: 708

Duration: 7m 1s

Rating: 3