Question : Is there any stock trading company that will allow day to day trades without margin?
I need to know whether there are any stock trading companies that wil allow me to trade day to day without a margin account. I want to buy a stock one and and sell it the next. I can't do it with Scottrade because they require that I have margin in my account.
- asked by sidewinder45
All Answers:
Answer #1
You don't need a margin account for day-trading. You WANT a margin account for day trading, sincethe margin account is what gives you the leverageto avoid the impact of the costs of commissionsand fees. If you are having problems getting amargin account, you may want to check with optionstrader.com. You need a margin account for optionstrading, and traditionally, options trading is ahotbed market for day traders.Good Luck!Hope thishelped.
- answered by Kiker
Answer #2
If you are attempting to trade in a cash account,then there are Federal regulations that restictthe timing of those trades. These are notScottrade's rules. Any SIPC broker must complywith them.If you truly want to daytrade, then yes,you need to open a margin.
- answered by Matt K
Answer #3
While you don't need to have a margin account today trade, you will be required to have 100% ofthe purchase price on hand if you are tradingsimply in a cash account.
- answered by Jack V
Answer #4
Try www.thinkorswim.com
- answered by websavvyinvestor
Answer #5
If you don't want to use margin then you can buyanything that you can pay for completely.Are youasking if someone will let you day trade withoutANY money? No one will allow you to do that.
- answered by Oh Boy!
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