Brokers for
Options brokers in Australia for covered calls
2 brokers allow covered calls without a margin account for residents of Australia. The same facts for each: fees, approvals, countries.
A covered call means you sell a call option on shares you already own and collect the premium. In return you give up any gain above the strike price, and an assigned call sells your shares. The brokers here allow it at their first approval level without a margin account, so check the fee per contract and the assignment fee. 2 brokers allow covered calls without a margin account for residents of Australia.
At a glance: 2 brokers, 1 at $0 per contract, 1 with $0 exercise and assignment, 2 approving naked options, 1 working with QuantWheel; median fee $0.05 per contract, lowest margin rate at $50,000 8.20%.
| Broker | QuantWheel | Exercise | Approval | 0DTE | Margin | Offers | |
|---|---|---|---|---|---|---|---|
 TradeStation | Trade & Sync | $0 via QuantWheelIndex options add $0.75 per contract | $0 | Naked | Yes | Negotiable | |
 eOption | $0.10 + $1.99 per tradeBase fee and other charges apply | $9 | Naked | Not published | 8.20% |
The brokers one by one
What qualifies each for this page, from its fee schedule and options agreement, and the one fact that sets it apart.TradeStation$0 via QuantWheel · $0 exercise and assignment · naked
TradeStation opens options accounts for residents of Australia. It charges $0 via QuantWheel (Index options add $0.75 per contract). Exercise and assignment cost $0. It approves up to naked short options. It trades on Web, Desktop, Mobile, API. QuantWheel syncs positions and trades from the account and suggests; with Trade & Sync the orders you approve go to the broker from QuantWheel.
Level for covered calls and cash-secured putsCovered calls Level 1; cash-secured puts allowed in cash accounts, level not published.
eOption$0.10 + $1.99 per trade · $9 per event · naked
eOption opens options accounts for residents of Australia. It charges $0.10 + $1.99 per trade (Base fee and other charges apply). Exercise and assignment cost $9 each. It approves up to naked short options. It trades on Web, Mobile. It is not connected to QuantWheel.
Level for covered calls and cash-secured putsCovered calls and cash-secured puts Level 1, no margin needed; allowed in IRAs (international cash accounts may only write covered calls)
More by what you trade
Every page in this folder lists the brokers that qualify, with the same facts.Related pages
The same page for other countries, then the facets traders pair with this one.Questions people ask
Covered calls