Noob question LIRA

[mattf 0]

Hi I'm new here. I recently read Andrew's book.  In it he mentions he trades within an RRSP account with interactive brokers.  Is this possible with a LIRA as well?

My initial plan is to start paper trading to see what it is like.  I've looked I can't seem to find really straightforward directions outlining how to go about this.  I feel like I keep running into paywalls.

I'm not super clear on the best way to start paper trading with DAS.  Do I need a paid account for this? Would I set that up on the DAS website? And how does that involve the brokerage account? It looks like DAS is included with some brokerage accounts, like CMEG, but from what I can tell interactive brokers would be superior if I can use my LIRA account at first at least and I wouldn't have to go offshore to evade the margin account minimum restrictions on day trading.

Otherwise I would start with 5k in cash, which would mean overseas, from what I gather.

I'm not super eager to start with real money, but if I'm going to need to pay for an account I don't want to have to switch if/when I one day go live.

I appreciate any feedback.

Thanks,

Matt from Kelowna BC

Edited March 5, 2020 by mattf
Adding ingo

[Abiel 474]

11 hours ago, mattf said:

I'm not super clear on the best way to start paper trading with DAS.  Do I need a paid account for this? Would I set that up on the DAS website? And how does that involve the brokerage account? It looks like DAS is included with some brokerage accounts, like CMEG, but from what I can tell interactive brokers would be superior if I can use my LIRA account at first at least and I wouldn't have to go offshore to evade the margin account minimum restrictions on day trading.

For sim trading you don't need a brokerage account, in fact DAS sim can´t be linked to a broker. You can get DAS sim from BBT at a discounted price with Market Replay included, please go here ($300 x 3 months, with DAS Inc. it is $150 / month without market replay). 

If you open an account with a broker like IB or CMEG and choose DAS Trader as platform, you will have also a paper trading account beside your brokerage account.