Hi, I am new to options and would like anybody's advice on a good options trading firm, trading restrictions for a new options trading account, and capital investment requiements for options trading accounts. Links to old threads would also be highly appreciated. Thanks again!!
For a new person, maybe OptionsXpress should be considered. Ten options cost 12.95 and their web interface is excellent.
You have to buy (or sell) round lots (10) to have any chance of making money. Except maybe IB or TradeStation which charges per option.
They need 100k in capital to write naked calls. Some other firms are less - like 50k at TradeStation.
If you want to do spreads for some reason, you may have to exaqgerate your experience. Personally they seem a little silly to me.
One word of advice, don't hold long options for more than a few days.