Today I’m answering one of the most common questions people ask me: How much do you need to open a brokerage account. When it comes to choosing a broker there are tons of options to consider. Learn more about what to look for and how much you need to start.

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FULL DESCRIPTION


Traders always want to know how much they need to start trading … and how to start trading. Is there a right way?

Here’s what’s really key when you start trading: the right mindset. It’s not about how much money you put into trades — it’s about the time you invest in your market education. It's understanding that you need to study and learn. New traders will lose. It’s inevitable.

So how much money do you need? I actually recommend starting with a small account. When you’re learning you don’t want to have a big account that you can blow up. You want to learn to lose small. You don’t want to let a small mistake turn into a potential big disaster.

That’s why I want to teach you to trade small and lose small.

When it comes to choosing the right broker, everyone’s different. You have to consider things like what country you live in and your current financial situation.

Many of my students don’t trade for the first few months. They study and learn patterns and rules until they’re confident. Others like to study while they trade. There’s no right way to do it, as long as you’re being smart about it. Find what works best for you.

And you don’t have to trade with real money right away. Practice! Get used to the markets. StocksToTrade has a tool called paperMoney where you can basically trade with fake cash. It’s like a fantasy stock market.

Brokers have different minimums for new accounts ... Remember to do your research and read the fine print before you make a move. Some brokers require you to be a U.S. citizen, and others are geared toward international traders. I’ve also seen broker minimums as low as $500 and up to $10,000. You need to find what suits your needs.

Beware of newer brokers that offer no commissions and no minimums. You might think you’re saving and getting a killer deal, but often times you pay in bad executions and poor service.

Don’t rush your journey. If you don't have the money to open your ideal broker account, focus your time and effort into learning. Start when you're ready — intellectually, emotionally, and financially.

Here’s the real question: How much time are you willing to invest in your trading education and preparation? Leave a comment below and tell me how willing you are to put in the hard work and how you prepare.

#TimothySykes #Pennystocks #Investing

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Hey, it’s Tim Sykes, millionaire mentor and trader. Thank you for watching my videos. I hope that they help you. I want to share everything that I've learned over the years. You can check out more videos right over there, and also click ‘subscribe’ so that you can watch all of these videos, get that knowledge and become my next millionaire student.*

----------------------------------------------------------------------------------------------------------------* Results may not be typical and may vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk. See Terms of Service here: [ Ссылка ]

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