I want to open an margin account with $50,000.00 at one of these brokerages and trade stocks and options. optionshouse.com tradestation.com/ etrade.com tdameritrade.com I don't have a job or own a house. My net worth is $50,000. I want to be able to buy calls and puts, and be approved for level 2 options. Will I be able to open a margin account without owning property or having a job at one of the above brokerages?
Preferably one that has a free demo/paper trading account that offers realistic fills. @Handle123 has said that before you trade real $$$ you should be able to take a $5000 demo account and triple it three times without blowing up. That sounds like a good suggestion, imo.
Yes, good advice. I've been paper trading here http://www.optionseducation.org/tools/virtual_trading_system.html for 8 months. The account went to $300,000 twice than i lost most of it.
Yes to will be able to open an account. For a regular margin account, Reg-T, they don't normally do credit checks. There is a know your customer rule that requires them to ask a few questions about you and your situation, but they won't care about your income or job. They might care about source of funds for AML rules. Be careful and good luck. Bob
just answer all the questions honestly on the app for the firm your are least likely to open. If they won't approve you then you may need to re evaluate your net worth.
I hope you have enough experience with trading options. Are you planning to do regular withdrawals from this account?
I'm a beginner option trader. I do have a lot of confidence though. I'd like to withdraw $2000.00 a month.