Fullmetal Trader
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Since originally I wasn't really asking for a brokerage review, I posted questions about this in the regular Stocks forum but didn't receive any responses so I though it might be better to post about it here.
Have any short funded traders out there had any success obtaining margin from US brokerages? Or are there any experienced traders or people in the industry out there who can advise me on this?
I think my financials are pretty good. However, after looking around at a few brokerages (IB and Fidelity Investments as a couple of examples) it seems that many of them do not want to deal with you unless you are already wealthy or extremely well funded (>$20,000 or even >$100,000 in cash available). Obviously no company should consider providing margin trading privileges to any trader without a vetting process in place. But if you have to be well off before they will permit you to trade with margin I don't quite understand the point of having very low minimum deposit requirements (as many brokerages do) for opening such accounts. And if they are attempting to appeal to newer traders, why would anyone that well off need to become an active trader in the first place? My point is that there must be brokerages out there willing to work with shorter funded traders, people who already making a living doing other things but who would also like to make money trading/investing.
My other post including my details can be found here:
http://www.trade2win.com/boards/stocks/216896-brokerage-margin-advice-short-funded-trader.html
Thanks in advance to anyone who can help.
Have any short funded traders out there had any success obtaining margin from US brokerages? Or are there any experienced traders or people in the industry out there who can advise me on this?
I think my financials are pretty good. However, after looking around at a few brokerages (IB and Fidelity Investments as a couple of examples) it seems that many of them do not want to deal with you unless you are already wealthy or extremely well funded (>$20,000 or even >$100,000 in cash available). Obviously no company should consider providing margin trading privileges to any trader without a vetting process in place. But if you have to be well off before they will permit you to trade with margin I don't quite understand the point of having very low minimum deposit requirements (as many brokerages do) for opening such accounts. And if they are attempting to appeal to newer traders, why would anyone that well off need to become an active trader in the first place? My point is that there must be brokerages out there willing to work with shorter funded traders, people who already making a living doing other things but who would also like to make money trading/investing.
My other post including my details can be found here:
http://www.trade2win.com/boards/stocks/216896-brokerage-margin-advice-short-funded-trader.html
Thanks in advance to anyone who can help.
