Hi folks, I am looking for an online broker. I want to trade shares, nothing fancy. I am starting out, and I have a few in mind. I am looking for a broker. I am close to opening up one with E Trader, but IB seems to be a way better deal. But am i correct in that to open an individual share account I need to open with USD10,000??? seems like a joke!!! . . . Im a newbe. Maybe 4 or 5k, but not 10k. any other options for me??? is Etrader my only hope?? Im living in Ireland, and a lot of brokers wont open an account unless im resident in that country? its not like FXCM or Oanda for me forex trading. . all help welcome thanks,
Day trading $25k minimum doesn't have anything to do with IB. Have you not heard about the pattern day trader rules??
ok Etrader it is, , ,I mean If im just buying stock, and i buy 2k worth, not much need for much funds sitting on the account doing nothing. Etrade seems to be simple in its ways. . . lodge 3k and by 2.5ks worth of stock, and hold it. . . leave a buffer for charges etc. . . . im a buy and hold for a month or two. . . as i said to others, if im in the red and its not me but the high charges. . Ill be a very very happy man. . then its just a matter of switching brokers. . .
Not quite the case with IB. They pay almost close to LIBOR interest rates daily! I take it that you are funding in EUR?
To OP: You can open an account w/IB, you still need the 10k but you can always take out 5K after approved for trading and then you are just like Etrade.
If you are NOT a US resident, you can open an account with canadian brokerage Questrade: - $2000 to open a margin account - 1 cent for share, minimum $5, maximum $10, + ECN - 3x margin (both intraday and overnight) - NO PDT RULE; daytrade as much as you want
You can open a stock trading account with Next Level Trading (NYC). Check out the trading blog: www.listentoyourchart.com