Starting small

Hi

Please tell me the minimum account sizes, and where to find them, that I need for EOD position trading in (a) stocks, (b) futures, (c) options, (d) forex, (e) anything else that may be worth trading.

Thanks

kut2k2

 

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kut2;
[a] It varies;
sfomag.com
is a good start

 

More important then account sizes, comissions. IB is great in that respect.

 

kut2k2,

I think the minimum balance at http://www.interactivebrokers.com/en/main.php is $2000 -- but if you make enough trades to qualify as a Day Trader then there is some trading rule that you need $25,000.


Also http://www.oanda.com/ is a forex site where you can do trades for really small amounts (e.g. quantities of $1) so I don’t think you need much for a minimum balance there. And other places with “mini forex accounts” seem to have small minimums like $50-200. (BTW I think Oanda supposedly usually has a small spread like 1.5 for EURUSD and 2.0 for USDJPY.)
I’ve never heard of any Day-Trader rules for forex -- so I don’t think the $25,000 thing applies to these sites.

 

murray t turtle: There's nothing there.

flyers&divers and xpsyuvz: Thanks, guys.

 

It will vary from broker to broker, but you should start off small because during the learning curve you are likely to be losing some money, and if you are going to lose you might as well do it small.

Brandon