INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE
Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees.
Investing in alternative investments and/or strategies may not be suitable for all investors and involves unique risks, including the risk of loss. An investor should consider their individual circumstances and any investment information, such as a prospectus, prior to investing. Interval Funds are illiquid instruments, the ability to trade on your timeline may be restricted. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA(www.finra.org) /SIPC(www.sipc.org).
There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event.
Options involve risks, including substantial risk of loss and the possibility an investor may lose the entire investment Before trading options please review the Characteristics and Risks of Standardized Options
Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser.
Utilizing a margin loan is generally considered more appropriate for experienced investors as there are additional costs and risks associated. It is possible to lose more than your initial investment when using margin. Please see https://www.sofi.com/wealth/assets/documents/brokerage-margin-disclosure-statement.pdf for detailed disclosure information
Up to $1,000 in stock. Customer must fund their Active Invest account with at least $50 within 30 days of opening the account. Probability of customer receiving $1,000 is 0.028%. See full terms and conditions.
SoFi Plus members can schedule an unlimited number of appointments with a financial planner during periods in which the SoFi Plus member meets the eligibility criteria set forth in section 10(a) of the SoFi Plus Terms and Conditions. SoFi members who are not members of SoFi Plus can schedule one (1) appointment with a financial planner. The ability to schedule appointments is subject to financial planner availability. SoFi reserves the right to change or terminate this benefit at any time with or without notice. Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov.
Robo Advisor: Automated investing is offered through SoFi Wealth LLC, an SEC-registered investment adviser. 0.25% fee is based on your account value. The wrap program fee may cost more or less than purchasing brokerage, custodial, and recordkeeping services separately.
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Trade stocks, options, futures, currencies, crypto, precious metals and more
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Finder is not an advisor or brokerage service. Information on this page is for educational purposes only and not a recommendation to invest with any one company, trade specific stocks or fund specific investments. All editorial opinions are our own.
What to look for when choosing an options trading platform
Finder’s picks for the best brokerage accounts for options trading are meant to provide a starting point for finding the right broker for your investing style and goals.
Consider the following factors when comparing your options:
Fees. From trading fees to miscellaneous fees, it’s important to understand the cost of trading and investing. Consider which investment products you plan to trade and the fees that apply, but also be mindful of any back-end fees such as inactivity or transfer fees that can also eat into your profit.
Tradable assets. Not every broker offers the same investment options. Stocks, options and exchange-traded funds (ETFs) are standard, but some brokers will offer mutual funds, bonds, futures, forex, crypto and more.
Account types. What other account types, in addition to a brokerage account, does the broker offer? If you’re interested in saving for retirement, compare brokers that offer IRAs. Consider your other investment needs and how important it is to maintain all your accounts under one roof.
Research and data tools. In-house research and tools simplify investing, as you don’t have to venture elsewhere to make an informed decision about an investment. extensive research and analysis toolsIf you’re a passive index investor, may not matter that much. Active stock pickers may feel otherwise.
Mobile app reviews. Mobile trading is more popular than ever, allowing you to trade and invest from anywhere. Check out what current or previous customers say about the platform’s functionality.
Signup bonus. While it may not make sense to choose a broker solely based on whether it offers a signup bonus, a new customer incentive such as a free stock may be enough to help you choose one over another if all else is equal.
Options trading levels
Options trading is categorized into beginner, intermediate and advanced strategies. Think of them as different levels, each allowing for progressively more complex strategies and transactions.
Options trading levels, also known as permissions, can vary by broker, but here’s an overview of what those levels might involve in terms of complexity:
Level 1. The most basic level, allowing traders to buy and sell covered calls and protective puts. Covered calls are where you sell call options on stocks you own. Protective puts involve buying put options on an asset you own. This level is generally for beginners with limited trading experience, as it involves relatively low risk because the options are backed by owned shares.
Level 2. Includes all Level 1 strategies, plus the ability to purchase options contracts, such as calls and puts. Risk is limited to the price paid for the contract.
Level 3. Includes all Level 1 and 2 strategies, plus more complex strategies like straddles and debit spreads, which involve multiple options contracts. This level requires more capital and the use of a margin account.
Level 4. Includes Level 1, 2 and 3 strategies, plus naked options trading, where the seller does not own the underlying asset. This level carries the potential for unlimited losses if the market moves against the seller, but it also offers the possibility of higher returns, as traders can sell options without hedging.
Level 5. The most advanced and riskiest level, Level 5 permits uncovered writing of index options and straddles.(1)
Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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