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Which account would work best?

TechTonic

By TechTonic,
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TechTonic

TechTonic

Posted
Posted

Good morning/afternoon/evening all,

Hope you are well!

I am looking to start day trading with a scalping method and I have been going round in circles trying to decide which account would work best for me. Id like to trade mainly in US stocks however I dont want the risk of losing more money that I put in with CFD's and spreadbetting. Therefore I have been looking at opening a share dealing account, would this be suitable for the type of trading strategy im looking at?

I have the following questions:

1-Can I use the web based desktop IG platform for share dealing / scalping?

2- Can I use live data?

3- With the Sharedealing commissions, after 1 month US stocks become commission free to trade, does this get applied to the account automatically?

4- Is there a minimum deposit for opening a share dealing account? (I see theres a minumum of GBP 1,000 to be able to use L2 but I wouldnt be starting with this amount to begin with).

5- Just to confirm, the PDT rule doesnt apply with IG and I would be able to immediately reinvest funds after the sale of shares

 

Thanks for your help!

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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit. All trading involves risk.

The value of shares, ETFs and ETCs bought through a share dealing account, a stocks and shares ISA or a SIPP can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results.

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