Going to do a cut n paste from a post I just made elsewhere... good read for all aspiring full-time traders.
.....Don't care to get into the to leverage or not debate, each to their own. Kevi makes very clear his preference... which is fine, great.
But folks...
Be very clear using an account like Kevi mentions below means all your cash may well be held in a segregated trust account.
This means if there is a problem with the account, you risk losing all your money, even though you have not done anything wrong yourself.
Be very, very sure you understand the risk of having funds in segregated trust accounts. You are an unsecured creditor. Read the fine print.
Always strive to have your trading funds in an Australian bank account under your own name and make sure that the stock is CHESS sponsored so you are protected via the NGF (national guarantee fund).
This way the only way you can blow up your account is by your own hand....
