zlacker

>>jimbob+(OP)
Sports gambling should be regulated like we do day trading (basically another form of gambling) — require a some minimum threshold of money in the account to deter those without disposable income from gambling away their savings (for day trading it’s $25k).

>>United+2e
Are you somewhere not-America? Day trading has zero requirements here.

>>stouse+gt
America's requirements (https://www.finra.org/investors/investing/investment-product...):

> pattern day traders must maintain minimum equity of $25,000 in their margin account on any day that the customer day trades

> pattern day traders cannot trade in excess of their "day-trading buying power"

> If a pattern day trader exceeds the day-trading buying power limitation, a firm will issue a day-trading margin call, after which the pattern day trader will then have, at most, five business days to deposit funds to meet the call.

>>renata+3h1
That link supports your parent, not you.

> Day trading, as defined by FINRA’s margin rule, refers to a trading strategy where an individual buys and sells (or sells and buys) the same security in a margin account on the same day in an attempt to profit from small movements in the price of the security.

(emphasis original)

There are no restrictions on trading with your own money, whether you can afford it or not.

>>thauma+DV1
I think a lot of the recent trading apps marketed to consumers give you a margin account by default though, I know Robinhood does. If you request a cash account you lose instant deposits and trading and have to wait for everything to clear normally.