Brokers for
Options brokers in India for the wheel strategy
2 brokers allow the wheel without a margin account for residents of India. 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. 2 brokers allow the wheel without a margin account for residents of India.
At a glance: 2 brokers, 2 at $0 per contract, 2 with $0 exercise and assignment, 2 approving naked options, 1 working with QuantWheel; median fee $0.00 per contract, lowest margin rate at $50,000 11.50%.
| Broker | QuantWheel | Exercise | Approval | 0DTE | Margin | Offers | |
|---|---|---|---|---|---|---|---|
 TradeStation | Trade & Sync | $0 via QuantWheelIndex options add $0.75 per contract | $0 | Naked | Yes | Negotiable | |
 Firstrade | $0 per contractRegulatory fees apply | $0 | Naked puts | Yes | 11.50% |
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 India. 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.
Firstrade$0 per contract · $0 exercise and assignment · naked puts
Firstrade opens options accounts for residents of India. It charges $0 per contract (Regulatory fees apply). Exercise and assignment cost $0. It approves up to naked short puts, not naked calls. 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 minimum equity; 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