Brokers for
Options brokers in Papua New Guinea for the wheel strategy
3 brokers allow the wheel without a margin account for residents of Papua New Guinea. 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. 3 brokers allow the wheel without a margin account for residents of Papua New Guinea.
At a glance: 3 brokers, 1 at $0 per contract, 2 with $0 exercise and assignment, 3 approving naked options, 3 working with QuantWheel; median fee $0.35 per contract, lowest margin rate at $50,000 5.38%.
| Broker | QuantWheel | Exercise | Approval | 0DTE | Margin | Offers | |
|---|---|---|---|---|---|---|---|
 TradeStation | Trade & Sync | $0 via QuantWheelIndex options add $0.75 per contract | $0 | Naked | Yes | Negotiable | |
 Interactive Brokers | Sync-only | $0.65 per contract$1 minimum; additional fees | $0 | Naked | Yes | 5.38% | |
 Tradier | Coming | $0.35 per contractPaid plans differ; other fees apply | $9 | Naked | Yes | 9.75% |
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 Papua New Guinea. 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.
Interactive Brokers$0.65 per contract · $0 exercise and assignment · naked
Interactive Brokers opens options accounts for residents of Papua New Guinea. 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
Tradier$0.35 per contract · $9 per event · naked
Tradier opens options accounts for residents of Papua New Guinea. It charges $0.35 per contract (Paid plans differ; other fees apply). Exercise and assignment cost $9 each. It approves up to naked short options. It trades on Web, Desktop, Mobile, API. QuantWheel syncs positions and trades from the account and suggests; placing orders from QuantWheel is coming soon, so today you place them at the broker.
Level for covered calls and cash-secured putsCovered calls Level 1, cash-secured puts Level 1 (cash accounts only); allowed in cash accounts
Compare two of them
The pair pages among these brokers, with a verdict.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