Need advice on which online broker to use. Please advise!
I want low cost trades, currently use Edward Jones and get raped. I started with EJ because I started a Roth there, and will keep it there. It just is not good for short term trading. I want my money to be quickly accessible so I can disengage it / Reengage it to capture gains/avoid losses. I would want lowest fees. I don't mind commission per trade being around 10 bucks, so the 5-12usd range is fine. I ONLY do straight stock trades. No options/mutual funds/forex I think... as I am a newbie.... I would also need easy documentation for tax purposes. This will be my first year paying capital gains/loss on my trading activity. I want that to be as smooth as possible. I will be getting a CPA for taxes this year, previously used TurboTax and did it myself. I will have between 2500-10000usd in the account. I do some light day trading. (1-2 trades max a day, usually 1-2 trades every 1-2 weeks, AKA not a lot but still in short term range.) I started because of the following reasons. I have a B.S. in International Economics from Texas Tech. I invest in E&P companies. I have four years experience working completions[frac jobs] in the oil industry, primarily the Permian Basin/Midland-Odessa of Texas. I have a lot of time on my hands while at work that doesn't interfere with my work quality and I can still watch/act on the market movements. So far I think TradeKing is my best bet but not sure. Maybe Cobra Trading Any advice is welcome!! Please help! Hoping this was the right subforum, also posting in Investment e: I have robinhood but was told it took 2-3 days for funds to clear trades. This doesn't work for me as sometimes I enteexit on the same day. e2: I am going to be calling a good friend with 4 years experienced for JP Morgan today to clear up some confusion I believe is here due to terminology. Will update thread when I can more clearly explain myself. I looked up margin accounts, PDT, and margin trading. As far as I know, I am not a margin trader, I do not trade on margin, nor have I done so. I have the cash backing up all trades I made. All trades I made/make have the equity/cash inside my brokerage account to back them up. e3: I have a cash account, I want to stay cash account. PDT will apply to me. I do not have the funds to enter into margin trading nor the desire. I am probably just needing to decide between tradekings and tradestation. They all seem the same cost wise just need to look into their tools and layouts and which one I enjoy. Thanks for the help everyone.
The minimum deposit for a TradeStation account at all of their international brokerages is $5000, which is incredibly more expensive than an average Forex trading account. The maximum leverage is limited to 1:100 for international traders, while traders from the US can only utilize a maximum leverage of 1:50. In forex markets, 1% margin is not unusual, which means that traders can control $100,000 of currency with $1,000. Margin accounts are offered by brokerage firms to investors and updated as the ... TradeStation is a leading online brokerage facilitating the trade of stocks, options and futures. ... Options margin requirements will differ from cash account minimum balance rules, for example. Popular Alternatives To TradeStation. Review. Forex.com boast a global reputation. Regulated in the UK, US and Canada they offer a huge range of ... There is a minimum initial deposit of $200 for stock and options cash accounts and $2,000 for margin accounts. The minimum initial deposit for futures account is $500. TradeStation Customer Service. TradeStation provides prompt customer support services via online chat, telephone, and email. TradeStation Securities, Inc.’s SIPC coverage is available only for securities, and for cash held in connection with the purchase or sale of securities, in equities accounts. Cryptocurrency products and services are offered by TradeStation Crypto, Inc.
How I Trade Forex with InteractiveBrokers - YouTube
See how easy it is to enter Forex orders and trade with IB. I use the regular TWS/trading workstation just like I do for my stock and ETF trades. This step b... One trading jargon that you’ll hear very often is margin. It’s usually in terms like margin account, margin trading and even margin call. It seems a bit comp... Class Objectives: • Load and Filter Options Chains • Analyze and Graph Options Positions • Trade Options Spreads • Manage Real Positions • Use OptionStation ... Comparison of stock brokers and their platforms for active traders. I've been using both Tradestation and Interactive Brokers for over a year and this is my ... In this video we show you the BEST trend line trading strategy that NO ONE talks about. Trend lines and combining them with price action as part of your trad...