I am outside the U.S. and cannot open a Schwab account. What can I do?
You can open a Schwab thinkorswim paper trading account, which is available in many countries. It's not available in certain countries, so you may have to be resourceful and sign up through a VPN or use an imaginary address outside of your country. Since all the ITM lessons & tutorials are based on Schwab's thinkorswim, as long as you can open a Schwab thinkorswim paperMoney account, you’ll be able to follow along with everything in the course!
Once you learn how to place trades in thinkorswim, you can then adapt what you learned to an options trading brokerage that works in your country. You'll find that options trading is the same no matter what country you're in, since the concepts and strategies are universal. Navigating a new platform is a mere technicality.
Here are some good options trading brokerages that offer accounts outside the U.S:
- Tasty Works - Click here for a list of available countries
- Interactive Brokers (Pro Plan) - Click here for a list of available countries
- TradeStation (International Plan) - Click here for a list of available countries
If you have a choice between the above 3 brokerages, I would go with Tasty Works because they have the best options trading analytics and low commissions of $1.00 per contract. The second best brokerage is Interactive Brokers because although they do not have the best options trading analytics, they have very low commissions of $0.65 per contract. You will need to reference your thinkorswim paperMoney account for the analytics, however. In other words, place your real trades in Interactive Brokers, but do your research in thinkorswim paperMoney. The third best brokerage is TradeStation, which has many of the same options trading analytics as thinkorswim, but charges $5 per trade + $0.60 per contract which is extremely high.