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The flagship platform Interactive Brokers offers is desktop-based Trader Workstation (TWS), which supports trading everything under the sun, including global assets. While TWS is not designed for new investors, it easily ranks among the best trading platforms in the industry.
Now, with the availability of free trades with BKR Lite, even casual traders might find Interactive Brokers a strong contender. But beginner investors might prefer a broker that offers a bit more hand-holding and educational resources.
Fill out their application: usually online on their website. Add money to the account for options trading. Find your stock or index options. Determine the right options contract to buy or sell. Make the trade.
Being approved to buy puts or calls as investments or hedges usually requires both one to two years experience trading stocks and has higher asset or margin requirements (often a minimum of $50,000 in liquid assets) as this kind of investing is speculative and is high risk (and reward).
Ideally, you want to have around $5,000 to $10,000 at a minimum to start trading options.
0:29 2:44 Suggested clip How to open an option trading account W/ TD Ameliorate (2 min YouTubeStart of suggested client of suggested clip How to open an option trading account W/ TD Ameliorate (2 min
Futures trading requires the use of margin, so you typically can't trade futures in a cash account. If you invest using options, then cash accounts don't make option trading impossible, but there are only a limited number of options-related strategies you can use with a cash account.

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