LiveTraders Expert Tips: How To Get Started In Trading Stocks

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Prop accounts will allow you to trade with as little as $3,000, and typically offer 10:1 and even 20:1 leverage which is good, however, in order to get these benefits you have to pass a series 56 test, provide access to all of your outside investment accounts and they lock your initial deposit for 1 year.

Benefits:

  • Low cost of opening an account
  • Impressive leverage
  • Daily maximum drawdown is controlled
  • Can get commission rebates
  • Multiple platforms to choose from

Drawbacks:

  • Ca ot hold stocks overnight
  • Must pass a Series 56 or Series 7 test
  • Have yearly mandatory FINRA continuing education (rules and regulations education)
  • 1 year lock period on your initial deposit
  • Must list outside brokerage accounts (and pay a fee to do so)
  • Can only withdrawal your profits once a month

CORPORATE ACCOUNT

Corporate accounts are similar to a prop account, however there are a lot less restrictions. The entry price is roughly $3,000, leverage is usually 10:1 and up to 30:1. However, where they are vastly different is in their

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