brokers who allow under 1000$ deposits?
- Thread starter trade5656
- Start date
Could try optionshouse.com? Don't know their minimum balance required. Give them a call.
Who cares? Nobody should trade with 1000 in the account. It's a recipe for disaster. If you still do that makes you a gambler.
If you cannot properly fund your account do you even understand how important those $1000 are to you?
If you cannot properly fund your account do you even understand how important those $1000 are to you?
I see you post good things, but I don't agree with this one. It all depends on how he plans to trade options. If we are talking SPY options, and only buying them, the risk is quite limited. If the ES has a range of 10 points for the day, then many options that are ATM would move about what, 50 cents, or a bit more? If all he was going to do was to day trade these options, he could comfortably risk $20 on each trade and follow the movement of the S&P's quite nicely. The $20 risk would also work out to be 2% of his account. Some say to not risk more than 1%, but alas, its a small account, so 2% is acceptable. After 20 trades, he may very well be up 10% or 20%, or down this same amount, but nevertheless, he will have a result, trading real money, with real emotions on the line, or lack thereof.
Sure the commissions will hugely kill his profitability, and slippage may be a problem, but once again, on a SPY option, that slippage will be 1 or 2 cents, hence only $1 or $2. Is it really better to have a 10k account and be risking a full $12.50 per tick on ES vs. $1 per tick on SPY options? If he is gonna blow out, might as well do this with a 1k account vs. a 10k account. Options will I think allow for experience will limited risk if all he is doing is buying calls and puts. All trades either work or they don't, and if he focuses on firm rules of risk and rewards and sticks to this, he will wins some trades, lose some trades, and perhaps even be ahead in the long run.
Robinhood has 0 commission and trade minimum, if I am correct...
I started with a relatively small account, not as small as that -- but kind of close,
All you need is an initial small seed capital, if you're truly good
-- then the rest will take care of itself fairly rapidly and exponentially through the power of compounding,The people who say or claim that you need a large trading account...are average traders who are scared and are just happy to beat the market index by a few measly percentage points,
It's plausible with SPY options -- not futures or other slightly less liquid stuff,
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are you aware how wide the bid offer spread is in even 1 single option on the ES future? Take the ATM if you like. Then report back (if you like) what the percentage is of the spread relative to an account size of 1000 dollars.