If you keep 100% equity on your short then you don't get charged interest. ie. you have $2k in your account and you short $2k of a stock then there is no interest. Also, E*Trade does not charge interest for intraday shorting, at least that's what they just told me.

Is this for real??

This can’t be right.....

They seem to be doing things not kosher. I know they have a lot of leeway with margin accounts but I am getting charged almost 60% interest on my short position, skyrocketed about 5% per day over 30 days, this seems usurious? Also, they keep playing with margin req's; went from 30% to 60%, this morning jumped to 90%??? Then 3 hours later back to 60%. WTH is going on? I smell lawsuit.

I also use etrade, just be careful sometimes it gets laggy, at least for me anyway, I've had it bork an order or two

https://profit.ly/user/DashSeen/blog/beware-of-etrade---got-charged-9000-short-interest-fee

Please be aware of the above rule if you use etrade for shorting. I lost a big chunk of my account due to it

Thanks folks, I am still new soo I am going to papertrade for a bit. Ally bank may not be intergrated with this site but I need to read the agreement with them and trading. Thanks for the advice it gives me more to research on.

Finals lol