A savings account is on the opposite end of the spectrum as a brokerage account. If you are willing to trade extremely low returns for little risk and someone else doing the work, then a savings account is what you want. So no need to keep extra money in the savings account if you're only interested in stock trading; it's fine to place your entire funds into the brokerage account.
Usually a bank will allow you to link the two accounts - all depends on the particular bank.
One last thing: you are able to use a margin account for more than short selling. You can purchase stock on margin and also write options (if that's what you're into). Myself, I rarely short stocks, however I frequently use margin as leverage. If you make wise and safe investment decisions, margin can be a huge benefit.
you only need a margin acct if ur going to short stocks. you are borrowing when you short stocks and that may be why you are being charged int. however, if you pay back the shorted shares immediately i would think there would be no charges. i'm not familiar with your brokerage.
you need to be an experienced trader to short stocks. you don't need a margin acct to trade securities. i've been trading off and on for 15 years and i still haven't opened a margin acct.
the money is in the shorts though for sure.
If a person has no knowldge and skills about Forex then it will be very difficult to trade in Forex. But if you use the right software you can make very good profit. The best software is called "autobinary signal". If you aren't a big expert this software is the only way to earn good money in Forex.
I want to start investing in stocks through an online brokerage but I don't know what account to set up. I created a margin account but found out that you get charged interest based on the amount of money that you have in your account. I set up a tax free savings account at the bank and want to know if this is the best account to set up. I am using questrade at the moment. Also are the online brokerage account and the bank account someone linked? Because I know you can only deposit 5500 in to the tfsa and don't want to get screwed by taxes.
