facebookI’m completely new to trading and investing. Just to ask, let say if I were to open a trading account, if there a minimum amount of money I need to put inside? Even if I don’t intend to invest now? - Seedly

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Anonymous

14 Sep 2020

Stocks

I’m completely new to trading and investing. Just to ask, let say if I were to open a trading account, if there a minimum amount of money I need to put inside? Even if I don’t intend to invest now?

Discussion (2)

What are your thoughts?

No. There is no minimum amount needed. However, you should watch for commissions

No, most brokerage do not require putting in a minimum amount of money.

However, some offer free trading for the first x days of account opening, like

  1. Standard chartered - free first buy trade within 7 working days of account opening
  2. Tiger brokers - commission free trading for 1 order of US or Hk stocks within 30 days. Plus you get some rewards for transferring money in.

Hence, you may want to wait till you have enough funds to open an account, to fully enjoy whatever benefits the brokerages offer at that time.

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