
02-23-2007, 02:15 PM
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Super Moderator
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Join Date: Apr 2005
Location: Albuquerque, New Mexico USA
Posts: 1,380 | Points: ( Donate)
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Quote:
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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.
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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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