Hi all,
I would like to start daytrading in the near future. As far as I have found out, daytrading UK stocks is too costly and not worth it. However daytrading US stocks also needs a minimum capital of at least $25,000 just to open an account? Is it right or there are brokerag companies that accept less, let's say $10,000?
I read the regulators' statement and the $25,000 was necessary only if trading on margin, isn't it right? Does IB require that amount?
One more thing I would like to know is how do the brokers and their customers transfer the money to each other? Is there one single big transfer at the beginning to the broker's account?
I think I can afford to start trading with $10,000 and it seems something quite fascinating and educative to me, however I won't suffer a heartattack if I lose that amount, but I simply don't have any more cash.
Please let me know as much as you can, I would be very grateful.
Thanks a lot,
BeM
I would like to start daytrading in the near future. As far as I have found out, daytrading UK stocks is too costly and not worth it. However daytrading US stocks also needs a minimum capital of at least $25,000 just to open an account? Is it right or there are brokerag companies that accept less, let's say $10,000?
I read the regulators' statement and the $25,000 was necessary only if trading on margin, isn't it right? Does IB require that amount?
One more thing I would like to know is how do the brokers and their customers transfer the money to each other? Is there one single big transfer at the beginning to the broker's account?
I think I can afford to start trading with $10,000 and it seems something quite fascinating and educative to me, however I won't suffer a heartattack if I lose that amount, but I simply don't have any more cash.
Please let me know as much as you can, I would be very grateful.
Thanks a lot,
BeM
