I'm new to trading. Is there a minimum limit to trade stocks?
M
malaguti
yes, the cost of 1 share multiplied by the price of that 1 share,
so if its a penny stock, the minimum is a penny. which of course is nonsense as it will likely cost you £10 or more but you get the idea
I understand but do I need let's say $25,000 minimum to open an account?
Charlton
Experienced member
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Unlikely to apply in your case yet
The other minimum, you may be referring to, is for "pattern day trading" in the US (or via a US broker)
http://www.finra.org/investors/day-trading-margin-requirements-know-rules
If you are not trading US stocks (or you do not fall into the pattern day trading rules described in the above link) then this restriction does not have any effect on you.
The other minimum, you may be referring to, is for "pattern day trading" in the US (or via a US broker)
http://www.finra.org/investors/day-trading-margin-requirements-know-rules
If you are not trading US stocks (or you do not fall into the pattern day trading rules described in the above link) then this restriction does not have any effect on you.
M
malaguti
depends on the broker, some have a minimum to open an account but to be honest I only know of a couple that do. D'd stay away from them personally.
If you are daytrading in the US you need a minimum but as your profile says you are from UK, you have nothing to worry about
