By now, you’ve probably watched many of Maurice Kenny’s YouTube videos and read several MK articles on options trading, and now you’re ready for TD Ameritrade account access. In this article, we will take out all the confusion about how to get your TD Ameritrade setup for options trading.
Just a heads up, if you’ve never opened up an online brokerage account, it can be a bit confusing. This lesson is provided to walk you through the setup process so that you can start making those trades.
If by chance, you’re looking for a video on how to actually buy a stock or trade options on TD Ameritrade, you should also check out
4 Easy Steps to DayTrade Options for Profit.
But for now, let’s work through TD Ameritrade’s signup process.
TD Ameritrade Account Setup
Before upgrading your options trading account, you must already have a TD Ameritrade account. Follow these steps.
1. Go to TDAmeritrade.com
Click on the open new account button at the top.
2. Open an Individual Account
You will be presented with a page with all the different account types you can open. If you are unsure about the different types, click Find an Account to answer a series of questions about your investment goals. If you already know what account type you need, you can just select it from this list on the left. For the purposes of this lesson, choose Individual Brokerage. You can now start the application process.
3. Input your basic information
This form is pretty similar to a typical bank application. The difference here with a brokerage account is that you will be asked questions about your age, Social Security identification, net worth, and other employment information. This is primarily to prevent fraud and to match up your identity with your tax records. Make sure the information you enter is accurate and continue.
4. Avoid Fraud
The following two questions at the bottom are to ensure that you do not have access to any insider information. For instance, are you affiliated or directly involved in any publicly traded companies? Is your spouse, or any member of your immediate family living in the same household, associated with these companies? Make the selection that applies to you and proceed from there.
5. Net Worth
The next page will ask for more personal information, such as your income net worth, and source of funding for the trading account. Again, this is mainly to prevent fraud. For clarification, your net worth is your assets minus your liabilities, and your liquid net worth is the value of your estate. The term liquidated means that your investments have been sold and converted to cash.
6. Beyond Stocks and ETFs
If you plan on going beyond stocks and ETFs and would like to trade options, futures, or Forex, you should click that option.
7. The Cash
Next, where do you want your cash held when it’s not invested? This question refers to the extra money you may have in your account. For example, if you deposit $200 and buy a stock that’s $180, you basically have $20 that’s just sitting there that’s not being used in your portfolio. So this question is asking, what do you want to happen with those remaining funds? There are two options: Hold it in the brokerage account. Hold it across multiple banks. Note the little asterisks at the bottom that says “cash is held at one or more banks.” Two of the banks are TD Bank and TD Bank USA.
8. Verify Information
At this point you should review your information to make sure it’s correct because if it isn’t you may have to go through an extra identity verification process.
9. Taxes, etc.
Lastly, read through all the fun IRS tax and client agreements. When you’re ready, select agree and continue. You will be given an account number.
TD Ameritrade Setup for Options
At TD Ameritrade you must apply specifically for options trading privileges.
1. Client Services
Log into your TD Ameritrade account, hover your mouse over client services, and then select General.
2. Options Trading
From General, navigate below and to the right. Select Options Trading. Click Apply.
3. Option Levels and Tiers
Once you’re ready, click Submit and continue to the application. Based on your information, you may be approved for one of four option levels: covered, standard cash, standard margin, and advanced. It’s important to know that the advanced and standard levels require margin. The standard options level allows for covered calls, cash-secured puts, married puts, buy calls and puts, covered puts, and spreads.
4. Revise Later, if Needed
If you would prefer a lower level of options trading or don’t want to add margin to the account, click the arrow next to View All Eligible Options Levels and change the level to Standard Cash or Covered. You can always change your level later on.
5. Review Agreements
Once you’ve selected the appropriate options level, scroll to the bottom of the page, read and review the agreements and risks, and click Submit. Your privileges will be added to your account within one business day
TD Ameritrade Support
If you get stuck or have any problems or questions, do not hesitate to contact the support team at TD Ameritrade directly – no matter how small or big the issue. They are always very helpful.
New Account: 800-454-9272
Existing Clients: 800-669-3900
Regular support is available 24/7.
Technical Support is available 7:00 a.m. to 6:00 p.m. ET, Monday through Friday.
Summary: TD Ameritrade Options Setup
Now you know how to get your TD Ameritrade setup for options trading. Are you ready to learn more about successful virtual trading, options trading execution, trading tools, market volatility, and risk tolerance in a simple way?
The Maurice Kenny Day Trading program suggests limiting your day trading to just options, particularly with SPY Options (and not other stocks like Tesla, Apple, or Amazon). The key is to keep your options strategy simple. Why complicate matters when you only need one to make profits?
The option strategy described above, alongside the TD Ameritrade setup, is a part of the core principles that allow the day trader to start off hassle-free, lower risk, increase profits, and keep options trading manageable.
Maurice Kenny has helped over 600 people become financially free through one-on-one coaching, mentorship, and options trading strategy. Many of these new traders are now full-time traders, and they all started by watching his 1-hr webinar.
Feel free to check out other FREE educational resources to help guide you as you begin your new journey to financial freedom.
Also, download a ( FREE E-BOOK ) by Maurice Kenny DAY TRADE LIKE A MILLIONAIRE