Is there any stock trading company that will allow day to day trades without margin?

by David Jenyns on July 31, 2011

Question by sidewinder45: Is there any stock trading company that will allow day to day trades without margin?
I need to know whether there are any stock trading companies that wil allow me to trade day to day without a margin account. I want to buy a stock one and and sell it the next. I can’t do it with Scottrade because they require that I have margin in my account.

Best answer:

Answer by Kiker
You don’t need a margin account for day-trading. You WANT a margin account for day trading, since the margin account is what gives you the leverage to avoid the impact of the costs of commissions and fees.

If you are having problems getting a margin account, you may want to check with options trader.com. You need a margin account for options trading, and traditionally, options trading is a hotbed market for day traders.

Good Luck!
Hope this helped.

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Matt K July 31, 2011 at 11:15 am

If you are attempting to trade in a cash account, then there are Federal regulations that restict the timing of those trades. These are not Scottrade’s rules. Any SIPC broker must comply with them.

If you truly want to daytrade, then yes, you need to open a margin.

Jack V July 31, 2011 at 11:31 am

While you don’t need to have a margin account to day trade, you will be required to have 100% of the purchase price on hand if you are trading simply in a cash account.

websavvyinvestor July 31, 2011 at 11:38 am
Oh Boy! July 31, 2011 at 12:14 pm

If you don’t want to use margin then you can buy anything that you can pay for completely.

Are you asking if someone will let you day trade without ANY money? No one will allow you to do that.

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