Minimum account balance and deposit at Halifax as of September 2024
This article discusses what the minimum account balance (if required) and the minimum deposit (if required) at Halifax stand for. Find out in which cases you must have a minimum balance at Halifax.
Have you ever accidentally mixed up the minimum account balance with the minimum deposit? Rest assured, you’re not the only one. To prevent any confusion, we'll tell you what they are and how they differ from each other.
Halifax does not offer margin or derivative trading: you can't trade stocks/ETFs on margin and derivative products, such as futures or options, are also unavailable. In this case, no minimum account balance is required and you can start using the Halifax platform without having a minimum deposit in your account.
The minimum deposit is the minimum amount required for opening an online brokerage account. While some brokers do not require a minimum deposit, others do. The minimum deposit requirement means that you will need to transfer this amount to your brokerage account from your bank account in order to start trading. You can check the minimum deposit at Halifax here.
Minimum account balance for stock/ETF margin trading
When trading stocks and ETFs on margin, the broker itself determines the minimum account balance you must always maintain in your Halifax margin account.
Minimum account balance for derivative products
Halifax offers derivative products to its clients:
Minimum amount to open an account at Halifax
Good news: the minimum deposit to open a Halifax account is $0. There are brokers that require as much as a couple of thousand dollars. You can check in the table below what is the minimum deposit at the competitors of Halifax.
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Minimum deposit
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$0
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$1,360
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$0
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Data updated on September 23, 2024
Bottom line
Now you know what the minimum deposit and the minimum balance are at Halifax and you understand the difference between the two. If you want to dig deeper, read our article on margin calls and short selling.
The minimum deposit is the minimum amount required to open a new online broker account.
The minimum account balance is not relevant at Halifax as it doesn't provide stock/ETF margin trading or derivative products.
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