Developers of several condos downtown and at the beach are requiring initial deposits of 40 percent or more, and more as they get closer to completion.
The fact that the service has no required minimum initial deposit, in combination with the very low fee structure, makes it the perfect service for people with little or no experience investing.
However, Discover Bank has one of the highest minimum opening deposit requirements in this list, requiring an initial deposit of $2,500.
So, for example, opening a £10 per point spread bet on Speedy Jet may require an initial deposit of £50 (at a 5% deposit rate), rather than the £1,000 upfront if you had bought the shares.
For example Fidelity Charitable requires an initial deposit of $5,000 to start a DAF.
T. D. Waterhouse requires higher than normal deposits on around 300 stocks, and Ameritrade, while not supplying details, said it required higher initial deposits on some stocks.
However, The T. Rowe Price Program for Charitable Giving requires a minimum initial deposit of $10,000 in order to set up a DAF," she said.
Some car washes require a minimum initial deposit (e.g. $0.75) but warn you when you are nearing the end of your time and allow you to add single quarters to get incrementally more time.
The biggest roadblock for typical discount traders will be the minimum initial balance requirement of $20,000 a far cry from the $1,000 initial deposit required by E*Trade and the $2,000 required by Wall Street rival Morgan Stanley Dean Witter.
That means buyers will not be able to count the funds towards their initial deposit required by mortgage lenders.
See the amount of the initial deposit required to open a business account.
