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  #1 (permalink)   Spam Kill
Old 02-21-2007, 07:31 AM
clever clever is offline
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online stock brokers?

I have 300$ to invest, im 15 and will have the help of my parents along with a checking/credit card to help me do this. I need a day time trading brokerage. What is the best one out there? One that requires no or low fudning to begin
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Old 02-21-2007, 07:53 PM
nirav34 nirav34 is offline
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Try scottrade for a start. You won't be able to day-trade with $300. You will need a margin account and at least $2000. Good Luck. Cheers.
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Old 02-22-2007, 07:04 AM
clever clever is offline
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ok, so I need 2k and a margin account. Is that the best for day trading?
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Old 02-23-2007, 11:29 AM
nirav34 nirav34 is offline
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Sorry, that was my mistake. You need $25,000 to day trade in a margin account. $2,000 to open a margin account, but it varies from broker to broker.

Last edited by nirav34 : 02-23-2007 at 11:31 AM.
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Old 02-23-2007, 02:15 PM
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orange orange is offline
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Quote:
Originally Posted by nirav34
Sorry, that was my mistake. You need $25,000 to day trade in a margin account. $2,000 to open a margin account, but it varies from broker to broker.
yup. but you won't need $2000 to open a cash acct. lowtrades.com no minimum to open, $4.95 per trade (each way). you can make ordinary trades with a cash acct. but you will be stuck with the 3-day settlement rule, which is what nirav is referring to with the $2000 legal minimum in margin, which enables you to avoid the 3-day settlement rule. for margin at lowtrades you need $2000 minimum. at zecco.com you need $2500 minimum to open acct, and can apply it to margin (trading in equities there is free). bottom line, you can open at lowtrades and start trading with the $300. but LEARN ALL YOU CAN BEFORE YOU TRADE ONE DIME!!
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