Just two Q's, could not find anything in relation to the first one on the forum. Please excuse my ignorance and newbieness (lol) if I have missed something.
1) What amount of start-up capital would you recommend when first getting started in futures and stock/CFD trading? I would like to trade with IB, but do not have the 10k USD to open an account. I am thinking between $2000-$3000 AUD and see how I go from there. Is this too much/too little?
2) What broker/firm should I consider using? I will eventually end up at IB when I have the 10k USD, until then I am not quite sure. I also need a real-time feed as it suits my trading style. My short list is either:
ANZ E-Trade - Although I despise the trading platform, I bank with ANZ so it makes things a bit easier.
IG Markets - Platform seems OK, I would prefer a non-web-based platform though (demo was web based).
GO Markets - Seems to be the best platform I have tested to date. Not sure if this is a bucketshop. Variety of markets is excellent.
Before anyone jumps the gun about the newbie, I have been trading spot forex for about two years now. The last year has been consistently profitable. I have also been demo trading with ANZ etrade and a few other firms for the past 4-5 months. I believe I am ready to start dipping my toes in the water so-to-speak
I understand the benifits and risks with margin/leverage trading and don't mind having a leveraged account, I know not to abuse it.