Day Trading Brokers?
I recently picked up day-trading as a hobby and have actually been doing fairly well. I previously had an account with Trade Kings but they suspended me from day-trading because i did not have 25k in my account. I do not have 25k to invest at this time and want to continue day-trading. Does anyone have any suggestions for brokers that I can daytrade with where there is no minimum balance required? Please advise.
Started using Colmex. They're off shore but registered and (importantly) your account money is insured thru the EU. They have a demo account and their live account is free. Believe minimum opening balance is 250 USD with a 20:1 margin. You do not need 25K to day trade and their are connected to the Tradenet chatroom which costs $120 per month. Their minimum commission is $4.95 per trade plus a cent per share. From what I've seen that is a good price. Oh, if you use CFD's their net is super fast and you can short virtually anything, including some IPO's. Check them out
The Interactive Traders is best, Though they have been adding features for less frequent traders over the last few years, their priority is keeping fees down. The speedy downloadable platform, Trader Workstation (TWS), includes dozens of professional-grade trading algorithms, such as the Adaptive Algo, which finds better prices for filling orders. You can customize the algorithm to fill your market order at the midpoint between bid and ask, thereby seeking opportunities within the spread to chisel a fraction of a penny more for your profits.