A highly specialized KISS brokerage for special retail traders

[Quanto]

I've the impression that some people seem to think CashAcct means that it's for depositing physical cash money (ie. coins and paper bills), like money-laundering in criminal circles.
Nope, it's just a very normal bank account (debit account, ie. much like a prepaid account). The main difference is that it's not a MarginAcct; you can't borrow money from the brokerage, instead must fund your trades yourself in advance.
Since such a cash account allows only "covered trades", it means you cannot lose any more than what you invest. Ie. with such a CashAcct the maxRisk for each trade is always known (and limited to the investment) in advance.
I'm not interested in any illegal activity. Just wanted to clarify.

 

[Cabin111]

I've the impression that some people seem to think CashAcct means that it's for depositing physical cash money (ie. coins and paper bills), like money-laundering in criminal circles.
Nope, it's just a very normal bank account (debit account, ie. much like a prepaid account). The main difference is that it's not a MarginAcct; you can't borrow money from the brokerage, instead must fund your trades yourself in advance.
Since such a cash account allows only "covered trades", it means you cannot lose any more than what you invest. Ie. with such a CashAcct the maxRisk for each trade is always known (and limited to the investment) in advance.
I'm not interested in any illegal activity. Just wanted to clarify.

A couple thoughts...You have shared one trade (for $10. that wouldn't go through).

If you are "only" using covered calls, you HAVE TO HAVE puts, so people can buy back the calls. So either no options (what so ever) or options, but you MUST have puts involved with them too.

You will need a HUGE back office!!

Also, if you are in a foreign country (shady), people will not trust you.

Look how much Robinhood had to raise...And they still don't make money!!

https://www.google.com/url?sa=t&rct...usg=AOvVaw1TURrLGO5DmMUDNl_Cd7fi&opi=89978449

I say this with all care and compassion. You may be delusional...You could have done this 50 years ago (in the US), but not today.