Don't do it, man! The only way I would advocate such an account is if I could take the specified amount of cash (in your case, $500) out of the client's pocket and burn it on my desk while he watched-and he didn't twitch. Stock accounts traded short-term are, as many have mentioned here, gambling. Get with an adviser you trust and set about building a long term, diversified, appropriate-for-you portfolio.

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1983 M-B 240D-Gone too.
1976 M-B 300D-Departed.

"Good" is the worst enemy of "Great".