25k $ minimum

Discussion in 'Retail Brokers' started by lojze, Jan 14, 2002.

  1. lojze


    Where is the best to try to daytrade, if you don't have minimum of 25k equity?

    Small cost of trading is a must, like IB.

  2. Echotrade only requires a $10,000 minimum.
  3. tuna


    Well it ain't Mytrack thru Penson Financial ,Rules their pulling out are becoming totally unworkable.
    Try this for size.
    buy 500yyy buy 400yyy buy 300yyy sell 1200yyy = 3 daytrades in their book......real handy...means you HAVE to hold .....Great when theres open profit sitting there that often turns into a loss the next day...
    Man this game has got so much harder to try and make it with these rules its not funny.

    On the lookout for someone more user friendly as well.
    If any of you fellow under 25k'ers have got a broker thats looking after you i'd appreciate a private message. Cheers all
  4. lojze


    Could be fine, but with little capital, we need also low trading commissions.


    Any idea for combination of those?

  5. lojze


    It seems, that they are low cost too.

    But, how about speed of execution?

    Also, what regulations do they have about daytrade? The same like SEC or changed?

  6. check them out at echotradeonline.com
  7. mjt



    There are several threads on this site re Echotrade. If you do a search, you'll probably find what you're looking for.
  8. Jaba122


    Correct me if I'm wrong, but I'm under impression that in order to be able to daytrade with 10k at echotrade you need to be a pro and have series 7 exam, right? If you don't have series 7 you still need 25k to daytrade. Am I right?
  9. To trade w under 25 k can have a few possibilities. Run some searches on the site here for Pattern Day trader, 25,000.
    To trade with Echo requires having or willing to get a Series 7.
    They can allow traders under the 25k minimum due to not being held under Reg -T.

  10. Does ECHOTrade charge a monthly fee for the software if you trade remotely ?

    #10     Jan 16, 2002