Option Level

1.What is an options level

Your options level is the permission you have when trading options. Different options levels allow different strategies. The higher the options level, the more strategies you can use, and the greater the risk.

After you pass the Options Trading Suitability Questionnaire and the Options Knowledge Assessment, we will assess the options level you are eligible for based on the level you applied for, your account information, and assets. Once your application is approved and the corresponding level is granted, you can trade stock options and index options. The strategies available at each options level are as follows:

2.How to apply for, update, or view your options level

Before you trade options, you first need to apply for an options level.

1. See the image below for where and how to apply: Accounts > All > Options Level

2. Options level introduction page:

Tap "Options Level" to access the introduction page, where you can view the options trading strategies available at each level. If you have not yet applied for an options level, you can apply by tapping the button at the bottom of the page. If you already have one, tap the button to update your current level.

If you only have a cash account, you can apply for Levels 1–3; to access Level 4 and the additional strategies at Levels 2 and 3, please open a margin account first.

3. Once you select your target level, complete the following steps to submit your application:

1. Pass the Options Trading Suitability Questionnaire (you have two attempts; if you do not pass, you can apply again after 60 days)

2. Pass the Options Knowledge Assessment (you have two attempts; if you do not pass, you can apply again after 60 days)

3. Confirm your investment profile

4. Sign the risk disclosure if this is your first time applying for an options level.

The application process varies by user. Follow the on-screen instructions to complete it.

3.What should I do if my options level application is not approved?

Each options level has strategies corresponding to its risk level. The higher the options level, the greater the risk of the related strategies. Higher-level options trading requires more investment experience, along with higher requirements for income, net worth, investment objectives, and other factors.

Due to regulatory requirements, we cannot disclose our approval criteria or the specific reason an application was not approved.

If your application was not approved due to failing the Options Trading Suitability Questionnaire or the Options Knowledge Assessment, or failing manual review, and you wish to continue applying for that level, please submit a new application after 60 days.

Notes:

We may adjust options levels and the options strategies available at each level at any time to comply with regulatory requirements and meet its risk management needs.

It usually takes 1-3 business days to review an application to update an options level. You will receive push notifications once your application is approved.