IB drops $10K account minimum

[Daal]

https://www.investopedia.com/news/interactive-brokers-eliminates-10000-account-minimum/

 

[OptionsOptionsOptions]

Makes sense ........... No need to alienate a big part of the trading community.

 

[Doc]

Their platform sucks though. If they rebuild their platform I’d might be interested- but im not hoing to pay $200 month for DAS

 

[maxinger]

That should be the way.

Of all my brokers, IB has the most ugliest trading platform.
Also IB uses the most complex, most difficult to understand, strange odd english.

Only thing good about IB is the range of instruments you can trade.

 

[Cuddles]

anyone try robinhood? feels like it's a move to take that demographic

 

[fordewind]

Have any of you knuckleheads read the whole article?

“We don’t want to mislead anybody,” he says.
“If you’re only going to have $5,000 in your account, you’ll be very unhappy.” Small accounts do not qualify for real-time data either, so removing the minimum is a way to try the site without any stress – but it’s not the way to be happy as a long term customer.

 

[OptionsOptionsOptions]

Have any of you knuckleheads read the whole article?

“We don’t want to mislead anybody,” he says.
“If you’re only going to have $5,000 in your account, you’ll be very unhappy.” Small accounts do not qualify for real-time data either, so removing the minimum is a way to try the site without any stress – but it’s not the way to be happy as a long term customer.

The pitfalls of a small account are greatly exaggerated.

 

[fordewind]

The pitfalls of a small account are greatly exaggerated.

not about pitfalls, but restrains.

 

[d08]

Makes sense ........... No need to alienate a big part of the trading community.

I wouldn't call anyone with less than $10k in an account a trader. Gambler or thrillseeker is more like it.

I expect the CS experience to get a whole lot worse now though.

 

[Cuddles]

Have any of you knuckleheads read the whole article?

“We don’t want to mislead anybody,” he says.
“If you’re only going to have $5,000 in your account, you’ll be very unhappy.” Small accounts do not qualify for real-time data either, so removing the minimum is a way to try the site without any stress – but it’s not the way to be happy as a long term customer.

I've got way more than that and don't pay extra to get real time data either. I've got google for that.