I'm thinking of creating a account with IB so I can invest in US stocks. I'm currently with westpac and plan to stick with westpac for my daily trading. Basically what I want to do is put some money in a US stock say 5k and let it sit there for a few years without any active trading. Looking at what westpac offers it seems if I don't actively trade US stocks I will be charged $70 or something every year for holding the stock. My question is if IB has similar chargers. Also I notice that IB requires a minimum of 10k to start trading. If I set up a account with IB transfer the 10k and invest say 5k can I transfer the other 5k out? Will I still be able to execute a sell order if I have no money in the IB account?
Any recommendations for a broker that would suit what I want to do would be appreciated.