Starting SIM...do I need a brokerage account or just DAS?

[evan 17]

Starting SIM next week.  I plan to use IB as my broker when I go live, but do I need an account with them for SIM, or just DAS?  I understand that during SIM my goal is to simulate precisely the interface I'll be using when I trade live, but does my choice of brokerage affect this at all?

[Abiel 475]

Hi Evan. For sim practice you don't need a brokerage account (sim accounts can not be linked to a broker). If you don't have a Das Trader Sim account see here.

[Brendon 146]

Evan, congrats on getting everything all set up to begin your journey, finally lol 😉  Good choice with IB, best fee rates around, especially for scaling in and out of trades! The pros still use their SIM accounts to test new scripts and strategies, consider it like a test track, you always go back to it whenever you change something with your game plan. 

[evan 17]

1 hour ago, Abiel said:

Hi Evan. For sim practice you don't need a brokerage account (sim accounts can not be linked to a broker). If you don't have a Das Trader Sim account see here.

Good to know.  Wasn't excited about moving 10K+ over just to have it sit idle, earning nothing, for 3+ months.

[evan 17]

46 minutes ago, Brendon said:

Evan, congrats on getting everything all set up to begin your journey, finally lol 😉  Good choice with IB, best fee rates around, especially for scaling in and out of trades! The pros still use their SIM accounts to test new scripts and strategies, consider it like a test track, you always go back to it whenever you change something with your game plan. 

Thanks!  You're not kidding about finally, lol.  Will post a pic of my setup soon...feels good to finally have have that done.  Yes, I gathered that IB was the best as long as you had the 25K minimum  for PDT. 

[Brendon 146]

49 minutes ago, evan said:

Good to know.  Wasn't excited about moving 10K+ over just to have it sit idle, earning nothing, for 3+ months.

Make sure you dont get charged their monthly inactivity fees, i think it's like $15 a month, if you're not trading live try to make a few quick small trades with your life account, either way you're losing $15. But i think that doesnt take effect until after a few months, not 100% sure. 

[evan 17]

35 minutes ago, Brendon said:

Make sure you dont get charged their monthly inactivity fees, i think it's like $15 a month, if you're not trading live try to make a few quick small trades with your life account, either way you're losing $15. But i think that doesnt take effect until after a few months, not 100% sure. 

Yeah I did a quick scan of the rules today.  I think there are no inactivity fees for the first 3 months, then after that you need to either generate $10/month in commissions, or have an average daily balance of $100K.  I imagine 10 bucks /month isn't hard to hit if you're trading full-time.  But yeah I'd rather not waste those free 3 months during SIM if I don't need an account yet.