For day trading, whats the minimum you need to open an account? Will 10000 do?

Answers:3   |   LastUpdateAt:2012-08-04 19:35:48  

Question
Algebra
Asked at 2012-07-10 11:21:11
For day trading, whats the minimum you need to open an account? Will 10000 do?
Answer1genieAnswered at 2012-07-10 22:08:02
For occasional day trading there is no requirement .

If you make 4 or more day trades within 5 consecutive business days , you label a pattern day trader . Then , you must have a margin account and maintain a minimum balance of $ 25,000. (cash + equity)

Over $ 25k is highly recommended. Otherwise, if a stock drops in price can fall below the requirement . And you will receive a margin call .

A day trading means opening and closing a position, the same day. ( Buy / sell or short cover /)
Answer2ChyAnswered at 2012-07-11 07:25:02
You may Trade Day with $ 1 if you really want , but often the company through its trade has minimum investment amounts . If you have a financial advisor should consult with them, if you do not invite you to email me at [email protected] and could answer any questions you may have. Day trading can be lucrative , as with any other investment, but it is very risky and requires much time and research . Before doing anything you should find out exactly what you plan to use $ 10 in the future and invest accordingly.
Answer3ChristAnswered at 2012-08-04 19:35:48
I think asking $ 25,000 minimum.

But you can buy and sell a lot without being a day trader. I think I've seen where you take like 3 or 4 routes from one day to shoot the rules that make a day trader.
Related Questions
1
  • Answer This Question:For day trading, whats the minimum you need to open an account? Will 10000 do?