Cybertrader minimum 10k for daytrading ?

[leyazbeck]

is the minimum balance to daytrade with cybertrader is is 10K ?
because they have a minimum of 10k balance in order to have a margin account ?
thx

 

[pirate]

You need at least $25k to daytrade regularly (sec regulations). Can daytrade up to 3 times a week with less money.

 

[leyazbeck]

well i know that i can do 3 daytrades but what i am asking is can i make those 3 daytrades without a margin account ?
thx

 

[pirate]

You don't have to have a margin a/c to daytrade but you do need a margin a/c if you want to short stocks.

 

[leyazbeck]

are you sure ? thx ...

 

[pirate]

Certain on both counts.

Why not use IB rather than Cybertrader? IB will allow you to have a margin a/c (therefore allowing shorting) with as little as $5000 and the per share commissions will work out much cheaper (unless you're trading very 'cheap' stocks) than Cyber's $9.95 per trade structure.

 

[leyazbeck]

well pirate i appreciate your help
what i would like to ask you is the following :
does IB platform gives you the top ten gainers ... ? in percentage ?
i mean is their software good ?
if not could you suggest me another platform with low cost ...
thx

 

[brokerboy]

Smallcapcenter.com it’s free but has a delay

 

[pirate]

Leyazbeck
IB offers top % gainers and a multitude of other parameters through their market scanner. IB is geared to very active traders and their TWS platform is a comprehensive one.

IB charts are awful, however, so try using it in conjunction with QuoteTracker, an excellent charting application. The two together (fast executions at rock bottom prices/great charts) are a great combination.

Check out elite trader reviews of both for more info. Good luck.

 

[leyazbeck]

thx a lot man