Does anyone know which Investment/Brokerage Accounts That Offer Margin Despite Low Salaries Based off of IRA Savings or Household Savings.
Thank you
2007-10-26 00:12:46 · 5 answers · asked by emario18 1 in Business & Finance ➔ Investing
Margin is simply a function of securities in your trading account. It has nothing to do with salary, IRA's, your mother-in-law or anything else.
Every broker follows the basic federal guidelines and charges what ever rate they want to (like a bank having different interest rates, car loan rates etc.).
2007-10-26 01:04:30 · answer #1 · answered by Common Sense 7 · 0⤊ 0⤋
1
2016-12-25 04:41:40 · answer #2 · answered by Anonymous · 0⤊ 0⤋
most brokers require at least 5000 US$ to open an account.
Some will offer 4000 US$.
If you trade just the Forex, you can even open an account with 200 US$, but there are very few brokers doing that.
For Futures its 5000.-, for stocks non day trade its 5000.-, and to day trade stocks its 25.000.-
But thats by law, not by broker.
Regarding low salaries and you net worth: just lie, they don't care, they will not ask a proof. All they care is, how much money you have in their accounts. Brokers will not allow you to go below requiered margin, and force you out of any open position before you blow below zero.
2007-10-26 00:38:23 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Check with firstrade.com. They want you to have, I believe, $2000 in investment, and I don't know that they care about your salary though I cannot say. It's worth looking into - Firsttrade is an excellent low-startup broker.
2007-10-26 00:18:04 · answer #4 · answered by senor_oso 3 · 0⤊ 0⤋
Zecco.
2007-10-26 09:45:54 · answer #5 · answered by Anonymous · 0⤊ 1⤋