Im just looking into starting an account on Ameri-Trade, looking to trade with micro penny stocks. I want to put and keep in the account 500 dollars. I'm doing this to gain some experience and learn some things about the market. The $500 dollars win/lose it doesnt really matter.
Does it have a Minimum account balance? If so what is it? Do I understand correctly that it is 10.99 for a trade, of any amount of shares, and 1.50 per "contract" which is the trade itself? So the total costs me 12.50? So if I bought 500 dollars in a stock that was .01 and it went to .02 i'd make 500 minus the 10.99? and 1.50? Is this correct? Or am I misreading something?
posted
Unless it has changed, my friend, you need a thousand bucks just to start your account. After that there's a two thousand dollar minimum to your core account after six months. If your account drops below 2 grand after 6 months you get a penalty. That should be plenty of time to get to that level and probably much more. Remember, yor first 5 weeks of trades are free when you open an account with Ameritrade. A big help. Dante
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Well I was considering opening an account with them. Basically I got 1,500 free dollars. Some lady hit one of my old cars, and her insurance company paid out 2k. I took 500 fixed it and kept the rest. So im looking to try something exciting, and fun, possibly profitable. Im a man of high stakes, I like risk....
So for the first 5 weeks how many trades are you able to make? No fee's at all? Were my figures on earnings correct?
posted
I don't know much about Ameritrade but Lowtrades is a good broker to use when starting off with that amount of money...I use them and they are very good! www.lowtrades.com usually a straight up 5$ fee per trade!
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I believe it's 25 trades in a five week span- more than you will use with that amount of cash. Lowtrades has excellent rates but I like being able to call and talk to someone ifI have a problem. I had a Lowtrades account and had some problems with getting answers. It also took a while to get funded if I remember correctly. Dante.
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Yes you are correct it does take awhile to get funded
I have found out the best way for Lowtrades is to fill out the application but don't send a check. Then once you get your account number, to wire funds directly.
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When you say "longer" to get funded. You mean to actually add funds into your account? Or do you mean to get money that you've earned in your account?
Basically im just "trying" the market out. I wanna have some fun. I dont want to spend a ton of money until im experienced. It would be nice not to put 1,000 dollars into an account. But on the other hand, if I made an investment where I made ab unch of money i'd like to be paid that money quickly.
Another question. It may be stupid but everyone says there are no stupid questions. If I buy a stock, and trade it off lets say I gained 50% on that stock. How fast does that money go into your account, so your able to purchase another?
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I currently have ameritrade, I enjoyed 25 free trades after that every trade takes 10.99 , i am tired of paying commissons. As far as transfering money from in/out ,it is quick and cool.
Immediated online assistance , if u have any problem , even while setting ur account.
Can someone tell me about Lowtradez.??
Thanx coumars
quote:Originally posted by Marcidius: If you were with Lowtrades and you had the stock from the previous day, you would get those funds right away.
If you bought and sold in the same day you would get the money the following morning.
1. After 100,000 shares of something you get charged I think it is .001$ per share but with a MAX of 1% of the principal. So that means if I'd buy 100,001 shares of XYZ totaling 300$, the most I would have to pay is 3$ additional to the 5$. Totalling 8$
2. Overall I like them as a broker. Customer service leaves something to be desired but as far as trading and getting fills they are great. If you have over 5000$ to invest I'd go with FreeTrades, but if you are starting out Lowtrades is the way to go IMO
3. Like I said, one of the drawbacks is the customer service, another drawback is that they don't have any real GREAT software that accompany your account. I mean you can get RealTime lvl 1 quotes, and you can see lvl 2 quotes on a stock but just the overall bid/ask. There are no streamers or anything from them either.
But starting out these guys are the WAY TO GO... they are prompt with your cash, usually next day unless it is a stock you have held for a day or two already, upon sell then you get it instantly. None of the 3 day hold on YOUR cash.
Hope that answers some of your questions...
btw, I use Scottrader to accompany my trades, it's a free streamer, with realtime quotes, you can see real-time streaming bid/ask and real-time charts. It's great. www.scottrader.com
1. After 100,000 shares of something you get charged I think it is .001$ per share but with a MAX of 1% of the principal. So that means if I'd buy 100,001 shares of XYZ totaling 300$, the most I would have to pay is 3$ additional to the 5$. Totalling 8$
2. Overall I like them as a broker. Customer service leaves something to be desired but as far as trading and getting fills they are great. If you have over 5000$ to invest I'd go with FreeTrades, but if you are starting out Lowtrades is the way to go IMO
3. Like I said, one of the drawbacks is the customer service, another drawback is that they don't have any real GREAT software that accompany your account. I mean you can get RealTime lvl 1 quotes, and you can see lvl 2 quotes on a stock but just the overall bid/ask. There are no streamers or anything from them either.
But starting out these guys are the WAY TO GO... they are prompt with your cash, usually next day unless it is a stock you have held for a day or two already, upon sell then you get it instantly. None of the 3 day hold on YOUR cash.
Hope that answers some of your questions...
btw, I use Scottrader to accompany my trades, it's a free streamer, with realtime quotes, you can see real-time streaming bid/ask and real-time charts. It's great. www.scottrader.com
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