Margin Trading for Under 21 w/ good Commissions

Discussion in 'Retail Brokers' started by kidPWRtrader, Aug 21, 2007.

  1. I tried registering on IB but apparently I am not mature enough to have a margin account.

    I was recomended Tradestation, but have not checked the age req. on them yet.

    Is there any brokerage with similar quality as IB with equal (or close to) commissions where I can trade being under 21? Currently I only trade equities and no derivatives.

    I have thought of having my dad register me, but that would be a problem when I start claiming myself as an independent.

    Also, I could be an "advisor" for my "dad's" account, but I am not sure of the laws in Arizona with regards to investment advisors (and what licenses I need if any to manage a family account).

    Thanks for the help guys.
  2. LIE!!!!! Had my own Schawab account at 12 in 1983. Lie Lie Lie Lie!!! Easier to ask for forgiveness than permission!
  3. I'm 20 and use MBTrading which has similar pricing to IB. I had a margin account 'til I broke the PDT rule (pattern daytrade rule)... now I stick to the futures for trading.