Starting a challenge

N

newbietrader100

I have 500 dollars and I am trying to see how much I can do with it by trading (short-term) and the only problem is that in order for my account to profit I need the lowest possible over head broker and a broker that has a mobile platform I was thinking ib but since I'm only starting with 500 I can't open an account since there minimum balance is 3500 I think? By the way I'm 17 so I still need a custodi account if that matters... Suggestions are much appreciated
 
You can do it with Forex.

Oanda is the most flexible with 1 unit position sizing.

Forex is also low overhead - no need to purchase data/feed.

Good Luck
 
Zecco. They have no minimum balance, $4.50/trade commissions. I have an account there and I am happy with them. They are no Interactive Brokers (I have an account there too) but they are a good low cost broker.
 
Quote from dwpeters:

Zecco. They have no minimum balance, $4.50/trade commissions.
More...

Even that is too high for a $500 account. With 100 trades a year, you'd need to make 100% return just to pay for commissions.
 
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