Your resolve is interesting but I mean Ive been trading for 3 and a half years full time and I dont think you will get very far trading under 2k. When I was 16 I turned 2k into 7k trading thru my dads account, but I traded major stocks not penny stocks. I still dont trade penny stocks all that often, liquidity and momentum work for me. Odds are with such a small deposit you arent going to get to trade for 9.99, read the clauses (volume, minimum share prices etc) I use td waterhouse and that works for me, but then again I have abit more then a few hundred dollars, I wish you the best of luck tho
Get the 2K minimum and pay 1$/per trade at IB rather than 25$/ trade. You don't even have to use the whole 2K for trading, just leave it sitting there in cash and use only 500$.
It should also be noted that ameritrade canada no longer exists it is now owned by td waterhouse canada (or wont exist in the near future) and from my understanding they only dealed in us stocks
go to capitalspreads.com, no commision, just a little spread. No account minimum, available to canadian. You can bet as little as $1 per tick on most of the stocks on the nasdaq and NYSE. I think this is the only way to go if you dont even have 2K. If i refer you, we both get 50 bucks in bonus. Not too bad. I guess 50 bucks would be around 5% of your account size. So, 5% return on investment before you even do anything. PM me if that sounds good for you.
An unemployed guy who wants to invest $500. Gee, I bet all the brokerages are falling over themselves to give you a deal! I think Steve Austin may be right.... :eek:
Im not yet out to make money, just want to learn as best I can. If I can save money during the learning process, (money I cant afford to lose) then I will.
Why dont you consider applying at a prop firm? It would solve being unemployed (not from a wage perspective i suppose) and it would give you the oppourtunity you might be looking for.