Minimum account balance and deposit at Halifax

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 at Halifax
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 at Halifax
Minimum account balance for derivative products

Halifax offers derivative products to its clients:

Minimum account balance at Halifax
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.

Minimum amount to open an account at Halifax vs its competitors
Halifax Fidelity International AJ Bell Youinvest
Minimum deposit $0 $1,240 $0

Minimum account balance at Halifax
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.

Author of this article

Nicole Conrad

Author of this article

Nicole is an intern content contributor for Brokerchooser. She comes to Brokerchooser with experience and certification in Accounting, and she currently is pursuing graduate studies in Economic Policy. Nicole writes broker reviews to provide transparency for customers: highlighting brokers’ exceptional services and holding them accountable for questionable practices.

Nicole Conrad

Broker Analyst

Nicole is an intern content contributor for Brokerchooser. She comes to Brokerchooser with experience and certification in Accounting, and she currently is pursuing graduate studies in Economic Policy. Nicole writes broker reviews to provide transparency for customers: highlighting brokers’ exceptional services and holding them accountable for questionable practices.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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