Re:Amazon engineer will let strangers manage his $50,000 sto...
by vxNsr on Thursday July 06, 2017 @07:13PM
(#14714731)
I think you need $25k to be a day trader on Robinhood. So if it drops below that he can't trade the same way he would unless he adds more cash which I guess he isn't prepared to do.
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Re:Amazon engineer will let strangers manage his $50,000 sto...
by Miner49er on Thursday July 06, 2017 @08:24PM
(#14715056)
That's not just Robinhood. I'm not aware of any brokerage that lets you trade on the major U.S. markets with less than $25k.
Re:Amazon engineer will let strangers manage his $50,000 sto...
by vidarh on Thursday July 06, 2017 @08:50PM
(#14715180)
You can trade with less. You can't day trade, defined based on the number of trades in a certain period. Some brokerages may enforce additional limits, but I've personally traded on NASDAQ via US brokerage accounts with less in them than that, so you certainly can do it.
Re:Amazon engineer will let strangers manage his $50,000 sto...
by schwank on Thursday July 06, 2017 @08:38PM
(#14715116)
Huh? You can open a Fidelity account with $2500, and buy any stock you want including US and Int'l markets.
Re:Amazon engineer will let strangers manage his $50,000 sto...
by bisrig on Thursday July 06, 2017 @08:56PM
(#14715204)
Day trading has a specific definition in this context (can't remember if it's SEC, FINRA, or some other acronym), and refers to the buying and selling of the same security with a single day. That $2.5k Fidelity account will go out of its way to tell you that you're not allowed to do that.
Re:Amazon engineer will let strangers manage his $50,000 sto...
by latencyloser on Thursday July 06, 2017 @08:50PM
(#14715182)
Yes, but you can't do that four or more times in a period of five business days if it accounts for over some percentage of your portfolio.
Re:Amazon engineer will let strangers manage his $50,000 sto...
by alistairSH on Thursday July 06, 2017 @08:56PM
(#14715200)
The $25k minimum only applies to day-trading accounts. See sibling comments for details.