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AK

21 May 2020

∙

General Investing

Should I use margin account (on Interactive Broker) to engage in day trading?

I am looking to start day trading/ scalping. However, I am faced with Interactive Broker's (IB) T+2 regulations when using a cash account. Meaning to say, I won't be able to trade for 2 days after closing a position.

In this case, should I open a margin account with IB in order to day trade? Assuming that I have 25k USD which allows me to avoid the Pattern Day Trading violation.

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Frankie Rappaport

21 May 2020

Neither margin trade nor daytrading seem a viable long-term solution to the problem of investing, where you can only 'play' with but not against time.

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Is it more worth it to use Gemini referral code (earn 10 USD in BTC if trade above US$100 within 30 days of account opening) or use the current 2 week fee-free trading promo?

Is interactive broker for beginners with trading volume less than 10K? Or would you recommend beginners to use the 0 commission brokers such as ad ameritrade?

Has anyone tried using margin on investing ? And best broker trading on margin?

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