Greetings everyone,
I have been a long time investor via mutual funds. Now I'm going to venture into direct equities and have been researching discount brokers for a while now. Given the lack of track record, platform stability issues and general mistrust, I've no other option but to go with Interactive brokers rather than anyone else in the field because they meet all my criteria.
My query is they have Cash Margin account only and , me being a newbie to the world of equities, I wasn't sure if I'd be able to buy and hold stocks (like for 5 years and beyond) using that account. So, I enquired with their customer care and they confirmed the account can be used for buy and hold type of investment rather than just trading.
Can fellow investors enlighten me if this is indeed true?
Appreciate your help in advance.