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Don't know if equity is a good idea for start with little account, maybe is better spot forex, thru some good brokers, also cos trading spot is more like trading some futures.
Take your Pips, go out and Live.
Luke.
Can you help answer these questions from other members on NexusFi?
Hey Mike,
I highly recommend Thinkorswim. I have been using them for about 2 years now. I just recently changed from Interactive Brokers back to Thinkorswim back in March. Also, note with ThinkorSwim you can negotiate your commissions with them it's not stuck at the $9.00 per trade and 2.95 per options trade. Every since I've started I was able to negotiate with them each time to lower my commissions. As of today my commission rates are 3.00 per stock trade and 1.25 per options trade. Oh yeah, they will match other brokers commission rates. So I think Thinkorswim is pretty good especially with the rates I was able to get and considering I don't have to pay any platform fees it all works out.
Thinkorswim is still a good choice for trading options, but if your looking a charting and data feeds, I would stay with IB or go with Ninjatrader or Multicharts. Thinkorswim is good not as great as it used to be and watch out for the spreads when trading options on their platform. Hope that helps a little.
Oh and if you are looking for a alternative to thinkorswim look at trademonster.com. They have a pretty good platform for options trading as well, just not that well known yet.
Scottrade has a $2000 minimum for margin accounts, and $500 minum to open an account. They have $7 commissions, but their customer service is excellent. They have offices all over the country, or you can reach a broker over the phone. They are a perfectly fine broker to recomend to beginning traders who only have a few grand to trade with.
Perhaps not so well known, but I've used them sporadically without problems.
Very low commissions and no maintenance fee or "low activity" charge.
Minimum of 2500$ in account, and 25k$ for day trading.