IB New Acc, 10K min ?????

Discussion in 'Retail Brokers' started by Pipabix, Feb 26, 2009.

  1. Pipabix


    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,
  2. Galactus


    And the rest!! For day-trading you need minimum $25k. For swing trading you can get away with $10k.
  3. Day trading $25k minimum doesn't have anything to do with IB. Have you not heard about the pattern day trader rules??
  4. Pipabix


    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. . .
  5. Not quite the case with IB. They pay almost close to LIBOR interest rates daily! I take it that you are funding in EUR?
  6. cstfx


    I believe he was saying that if the 10k shocks you, since you are a newbie, here's something else.
  7. cstfx


    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.
  8. 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
  9. Go to just2trade.com , they have better deal than all the other brokers.2500 minimum.

  10. You can open a stock trading account with Next Level Trading (NYC).

    Check out the trading blog: www.listentoyourchart.com
    #10     Feb 27, 2009