Can you open an Interactive Brokers account with the minimum amount of $10,000 and then withdraw like $9,000 to trade with the remaining $1000?
I would like to start trading, but the minimum amount is huge. Is it possible to just open the account with it and then leave just the amount I can trade with? Will they allow that, or is it going to automatically refuse to proceed because the account can’t stand with less than the minimum amount? More @ Reddit.
I intially wrote: “Read IB’s fees and cost structure. Do a couple of paper trades, then figure out for yourself if it is worth it. Don’t forget the possible inactivity fees too. If you can’t manage that, I wouldn’t suggest you buy stocks. Because you will have trouble determining your true cost basis.