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DAP Forums > Other Topics > Other Topics

Breakage Account for trading

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#1
02-13-2018, 08:50 PM
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I was trying to open a brokerage account for trading stocks/options, but I was asked about immigration status or visa during the application? I put in "other". Now they sent me an email asking me more information about my visa? Anybody else had this issue? Fucking tired of this stupid shit.

Title should be: Brokerage Account for Trading
Last edited by cooltalker; 02-13-2018 at 09:20 PM.. Reason: Incorrect Title
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#2
02-14-2018, 12:05 AM
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What trading platform? I know Vanguard doesn’t ask that, that’s why I opened my brokerage account with them.
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#3
02-14-2018, 04:07 PM
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Quote:
Originally Posted by FinAnalyst View Post
What trading platform? I know Vanguard doesn’t ask that, that’s why I opened my brokerage account with them.
I wanted to try tastytrade since their commission is $1 per options contract. I only wanted to start with single contracts to get some trading experience.
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#4
02-14-2018, 04:20 PM
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Quote:
Originally Posted by cooltalker View Post
I wanted to try tastytrade since their commission is $1 per options contract. I only wanted to start with single contracts to get some trading experience.
There are some places where you can trade virtual currency on real stock market data, its good practice to see how you would do without putting any real money in.

Its a lot of research and dedicating time to knowing the markets and the field.

FDT Forex (ForexMaster) its an app version that I downloaded, but then life got in the way and I forgot my login credentials.

You are able to compete with other people, students and schools.
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#5
02-14-2018, 04:56 PM
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Quote:
Originally Posted by buckminsterfullerene View Post
There are some places where you can trade virtual currency on real stock market data, its good practice to see how you would do without putting any real money in.

Its a lot of research and dedicating time to knowing the markets and the field.

FDT Forex (ForexMaster) its an app version that I downloaded, but then life got in the way and I forgot my login credentials.

You are able to compete with other people, students and schools.
I have tried out the demo and papermoney accounts. But I think the gains are not realistic as they don't take into account spread and slippage that occur in the market. That's why I wanted start with a really small account ($500) and see how it goes, but didn't want to end up paying $7-$8 commission on $50 positions. $1 commission sounded okay, but they want to see legal status so fuck it. Will have to try another broker.
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#6
02-14-2018, 09:41 PM
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Normally i would just put as a resident. - They care nothing about BUT taxes. Now trading options :/ very risky pls tell me at least you know your gamma and theta and implied vol.
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#7
02-14-2018, 11:30 PM
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Quote:
Originally Posted by Michcio07 View Post
Normally i would just put as a resident. - They care nothing about BUT taxes. Now trading options :/ very risky pls tell me at least you know your gamma and theta and implied vol.
They asked about immigration status specifically. Otherwise, I would have put resident alien for tax purpose. But yes, I am learning the Greeks.
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#8
02-15-2018, 02:16 AM
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I have Charles Schwab and I have no complaints. The trades are a bit more expensive but I'm using their checking account and they have an above average interest rate and pay every atm fee (so I don't carry cash anymore). And I'm a DACA recipient so you shouldn't have any trouble.
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