qdz- with $2k..you may want to give Worldco a try. Maybe ETG .......I don't think they require you to put up anything.
OUTSTANDING summary..... 4:1 to the average guy (little guys need not apply) can hang you 6x as much as the previous 2:1 margin. At least when it came to going short or otherwise, 2:1 prevented you from getting into the $100,000 range unless your account was around $50,000 or more. Now you can do this for $25,000. That's more dangerous, given the whipsaws and directionless trading environment. Perhaps, the only way the SEC could cut down on the volitility was to restrict the $2,000 little guys from having a play.
I started in the business 6 months ago and I just got my second paycheck on monday. I had $1000 and i sent my resume to Worldco. They put me in a group and the leader there gave me some tution after I had been there a while. They won't give you 100% (more like 70-80%) payout but will allow you to trade their capital. I think they do charge you for the series 7 around $300. Assuming you have a decent resume they will hire you. The guy I work with is always looking for new traders in his group. Good luck.
Actually, you can trade e-minis with just $2k. Granted, if you fall below it .. they'll restrict you.
I do not care if they are financially stable or not. Once I played out the last few cents, they have not had any commission/fee revenue extracted from me, ever! They smash heads of geese which lay golden eggs for them one after another.
saying IB is in a better financial position than e*trade is akin to saying the guy who washes my car is in a better position than me since he has no debt. GET REAL best, surf
the whole purpose of the SEC PDT rule is to get rid of undercapitalized pain in the ass pikers like this qdz guy that hog and clog bandwidth with their 50 share BS orders. they're gonna lose their piggy bank anyway trying to compete, so get them the hell out! must protect them from their own stupidity. HA!