Hello everyone,
Some wisdom would be appreciated.. I have $10,000 to invest and have not decided on a broker. should I split the amount 50/50 in two separate accounts or go all in with one account. would it make sense to open an e*Trade and interactive brokers account or should I go with suretrader. Im definetly not opposed to shorting. Any tips would be great.
thank you
Jacob
I would recommend opening two accounts so that you can alternate between accounts to avoid the Pattern Day Trading Rule. Multiple accounts is what Tim recommends as well. See: http://www.timothysykes.com/2015/04/why-i-hate-the-pattern-day-trader-rule-and-what-you-should-do-about-it/
Is anyone currently using suretrader? Is the bad reviews on not being able to withdraw money or high fees true?
Recent Suretrader discussions (open previous comments). Again realize it is an overseas broker. http://profit.ly/user/JoeRuark/blog/will-try-to-start-posting-watchlist-recap
Tim recommends this year Etrade and IB. I recommend IB. Problem is 10k is the bottom min for IB. Probably Etrade TradeKing OptionsHouse, or Speedtrader better for you. Read the details on fees and minimums.
Join now or log in to leave a comment