Brokers for
Options brokers in Botswana for the wheel strategy
One broker allows the wheel without a margin account for residents of Botswana. The same facts for each: fees, approvals, countries.
The wheel means you sell cash-secured puts until you are assigned shares, then sell covered calls on them until the shares are called away. Each turn can end in an assignment, and if the price falls you hold shares worth less than you paid. The brokers here allow both steps without a margin account, so check the assignment fee, the fee per contract and the interest on your cash. One broker allows the wheel without a margin account for residents of Botswana.
At a glance: 1 broker, 0 at $0 per contract, 1 with $0 exercise and assignment, 1 approving naked options, 1 working with QuantWheel; median fee $0.65 per contract, lowest margin rate at $50,000 5.38%.
| Broker | QuantWheel | Exercise | Approval | 0DTE | Margin | Offers | |
|---|---|---|---|---|---|---|---|
 Interactive Brokers | Sync-only | $0.65 per contract$1 minimum; additional fees | $0 | Naked | Yes | 5.38% |
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.Interactive Brokers$0.65 per contract · $0 exercise and assignment · naked
Interactive Brokers opens options accounts for residents of Botswana. It charges $0.65 per contract ($1 minimum; additional fees). 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; you place the orders at the broker.
Level for covered calls and cash-secured putsCovered calls Level 1, cash-secured puts Level 3 (short put); allowed in cash accounts
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
Wheel strategy