Minimum Initial Deposit To Open Brokerage Account


2019 minimum initial deposit requirements to open brokerage non-IRA and IRA accounts for TD Ameritrade, Charles Schwab, Etrade, Fidelity Investments, Ally, Vanguard, Wells Fargo, Interactive Brokers, Robinhood, Merrill Edge, Firstrade, Capital One and TradeStation.



Brokers Minimum Initial Deposits To Open Account


Brokerage Minimum Deposit for non-IRA Account Minimum Deposit for IRA Account
Ally Invest$0 cash account, $2,000 margin account$0 cash account, $2,000 margin account
TD Ameritrade$0 for cash account, $2,000 for margin account$0 for cash account, $2,000 for margin account
Charles Schwab$0 for cash account, $2,000 for margin account$0 for cash account, $2,000 for margin account
Choicetrade$0 for cash account, 2,000 for margin account$0 for cash account, 2,000 for margin account
Etrade$500 for account, $2,000 for margin account$0 for retirement cash account, $2,000 for margin account
Fidelity$2,500$2,500
Firstrade$0$0
Interactive Brokers$0 for cash account, 2,000 for margin account$0 for cash account, 2,000 for margin account
Just2trade$2,500$2,500
Lighspeed Trading$5,000, $10,000 and $25,000 for Web Trader, RealTick and Trader plans respectively$5,000, $10,000 and $25,000 for Web Trader, RealTick and Trader plans respectively
M1 Finance$0$0
Merrill Edge$0 for cash account, 2,000 for margin account$0 for cash account, 2,000 for margin account
Motif Investing$0 for cash account, 2,000 for margin account$0 for cash account, 2,000 for margin account
Muriel Siebert$0 for cash account, 2,000 for margin account$0 for cash account, 2,000 for margin account
Sogotrade$500 cash account, $2,000 margin account$500 cash account, $2,000 margin account
TIAA$0, $2,000 margin account$0, $2,000 margin account
TradeStation$500, $2,000 margin account$500, $2,000 margin account
USAA$0 for cash account, $2,000 for margin account$0 for cash account, $2,000 for margin account
Vanguard$0$0
Wellstrade$0$0
Zackstrade$2,500$2,500


Brokers Minimum Initial Deposits to Open Account


Competition in the online investing industry have never been as fierce as it is in 2019. Over two dozen firms are trying to attract new customers by all the means at their disposal. Making account opening requirements as easy for prospective customers as possible is one of the areas where many companies have made improvements.

This year many discount online brokers do not require a set amount of cash or securities deposited to open a regular brokerage or an IRA account (Traditional, ROTH, Simple IRA, SEP IRA, 401(K) and others). In other words, you could open account with no money down and often you could even keep it that way at no charge. The brokers with $0 initial account deposit are TD Ameritrade, Firstrade, Choicetrade, Merrill Edge, Ally Invest, Vanguard, Wellstrade, TIAA and USAA.

Other online brokers offer very low initial account deposit - $500. Among them are such giants as Etrade, Capital One Investing and a small firm - Sogotrade.

The companies that require the largest initial deposit to open a brokerage account are Interactive Brokers and Lightspeed Trading. These firms cater mostly to day-traders who need larger balances to trade and make a living.

Both non-IRA and IRA margin accounts require at least $2,000 initial deposit. If you want to be able to day-trade on your account (to make 3 or more day-trades in 5 days or less) you will need at least $25,000 account balance - that's the law brokerage companies have to comply with.

If you decide to move your existing brokerage account to a different brokerage firm, the same minimum deposit requirements apply. But you could also use the value of stocks, ETFs, mutual funds, bonds and other investments in your account instead of cash.

You could see the ratings and reviews of online brokers listed on this page by clicking on the links in the table above.


Brokerage Promotions

Many discount brokerage companies also attract new customers with generous promotional deals: from paying for account transfer from a different firm and up to free trades for 60 days along with cash bonuses. In this article you could see the most uo-to-date list of these incentives.