Starting a challenge

Discussion in 'Trading' started by newbietrader100, Feb 10, 2011.

  1. I have 500 dollars and I am trying to see how much I can do with it by trading (short-term) and the only problem is that in order for my account to profit I need the lowest possible over head broker and a broker that has a mobile platform I was thinking ib but since I'm only starting with 500 I can't open an account since there minimum balance is 3500 I think? By the way I'm 17 so I still need a custodi account if that matters... Suggestions are much appreciated
  2. Interesting. In '99 I started day trading with a $200 account. Don't think that is possible anymore. Good luck.
  3. XXVII


    You can do it with Forex.

    Oanda is the most flexible with 1 unit position sizing.

    Forex is also low overhead - no need to purchase data/feed.

    Good Luck
  4. Zecco. They have no minimum balance, $4.50/trade commissions. I have an account there and I am happy with them. They are no Interactive Brokers (I have an account there too) but they are a good low cost broker.
  5. Even that is too high for a $500 account. With 100 trades a year, you'd need to make 100% return just to pay for commissions.
  6. cvds16


    oanda seems the best route to take