Day Trading Account

Where can I open a day trading account?

You can open a stock day trading account with any direct access broker. Since over the last few years I have practically stopped trading stocks in favor of currencies, I can't really recommend any good direct access stock broker.

If you are willing to give currency trading a try (I think you definitely should), you can get a free, live day trading demo from this website. The demo works with live market prices while you practice with fake money. It is a great learning tool. After you practice with the demo, if you are ready to day trade live, you can open a regular trading account (read through the currency trading section to learn more about the forex market). The minimum to open a regular account varies from firm to firm.

With many firms, a standard account will allow you to trade $100,000 lots with a maximum leverage close 100 to 1 (please note that high leverage multiplies both profits and losses).

For new day traders that don't have enough capital to open a regular account, a mini forex account is another option. A mini account allows day traders to trade $10,000 lots (instead of $100K lots) and the maximum leverage is 200 to 1. If you don't want to day trade, the trading robot may be of interest to you.

Please note that high leverage multiplies both profits and losses in your account.

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