4. HOWEVER, in a MARGIN ACCOUNT, if you day trade more than 3 day trades in a 5 business day period, your account is flagged (it's required to by the SEC) as a Pattern Day Trader (PDT). This means your broker must restrict you on certain things unless you maintain a minimum $25,000 cash amount in that margin account.
SpeedTrader is the sister broker of SureTrader. Both are run by the same company and use the same platform. However, if your trading with an account that is under $25k and want to bypass the pesky PDT rule then I would recommend SureTrader first. If you are trading with a larger account than SpeedTrader is a good broker. SpeedTrader Commissions
Understanding the Pattern Day Trader Rule - SpeedTrader Oct 11, 2016 SpeedTrader Review - How Does This Direct Access Broker ... Oct 14, 2019 SpeedTrader - Direct Access Stock Broker for Day Trading SpeedTrader is a direct market access broker with access to over 25 routing options.
Elite Trader. Forums > EliteTrader.com is a group of 100,000+ financial traders that have meaningful conversations to help each other learn faster, develop new relationships, and avoid costly mistakes. Currently there are more than 250,000 discussion threads containing over 4 million posts. Suretrader is great at what it does, legally bypassing the PDT rule because it is an offshore company based in the Bahamas. However, it comes at a cost and that cost is its very high fee's and commissions. I used it to get myself past 25k in funds and then switched over to another broker within the United States. Excellent for those under PDT rule SureTrader is an excellent platform. Utilizes DAS Trader, which in my opinion is great. There isn't really any way to be able to day trade without having 25k of capital to allocate unless you open an account with Suretrader, and the service is run by the same good folks at SpeedTrader, so you are essentially getting the same product but aimed at a different Speedtrader does not currently offer debit card and/or checking accounts." If the PDT rule applies only for US, why is the minimum deposit 15K for US and 25K for foreign (let's say Canada)? #25 Jun 4, 2016 About Cobra Trading. CobraTrading.com is a direct-access online broker offering active traders multiple trading platforms and top of the line customer support. Founded in early 2000 by Chad Hessing, Cobra Trading has been consistent with their high quality knowledgable customer support that can be accessed by messenger, phone or e-mail.
Besides not having a PDT rule, SureTrader was able to offer its customers several other benefits. It accepted deposits by debit or credit card. It offered not only stocks on the major U.S. exchanges, but also options, penny stocks, and over-the-counter equities. For software, SureTrader used DAS Trader Pro.
SpeedTrader is a division of Stock USA Execution Services, Inc. (Stock USA), member of FINRA & SIPC. Stock USA is a New York based online stock broker specializing in online trading services. The firm was started to provide direct access trading software and online trading platforms to investors and active day traders who needed more than just Trade Zero Broker Review - How Do They Compare? Aug 25, 2017
7 thoughts on " The Pattern Day Trader Rule (PDT Rule) " JustMeDee July 27, 2017 at 1:00 am. Good news Sept 2017 T+3 becomes T+2. Centerpoint and speedtrader pro have the best short availability. Heriberto Iribe July 27, 2017 at 1:00 am. what broker do you recommend I have etrade pro. lenox jhon July 27, 2017 at 1:00 am.
speaking from experience, yes and no.. In term of user friendly interface and various tools for beginners, yes Also depending on how much you need to profit in order to cover the trading fees, TD for round trade is almost $14, which can add up qui Account Minimums: USD 0.00: USD 0.00: Account Maintenance Fees: Up to USD 10 based on activity Will be equal to zero if: Account has Net Liquidation Value >= USD 100,000 (or non-USD equivalent) or; USD 10 in commissions generated in a calendar month. USD 0.00
SureTrader. Summary. SureTrader is a Broker located in the Bahamas. By SureTrader being located in the Bahamas they do not have to follow the SEC pattern day trader rule. This rule is something that many new day traders are forced to fall under and deal with. The rule is also known as PDT.
As you may know the United States has what's called the Pattern Day Trader (PDT) Rule. That means you need a minimum of $25,000 cash balance in your broker account in order to day trade more than TradeZero is our top broker for international students who are below the PDT level but still want to day trade. The TradeZero platform is stable on both mobile and desktop, offers hotkeys, and features direct access routing. Additionally the commissions are 70% lower than all other competing brokers that allow trading under the PDT level. An informed trader is a smart trader … so let's talk about the SureTrader shutdown. In case you missed the news, SureTrader is an offshore broker that recently had to shut down under suspicious circumstances. SpeedTrader Review. SpeedTrader has been around since 1999, offering state-of-the-art tools, one of the best brokerage accounts and platforms for day traders around the world to take advantage of the deep pools of liquidity in US stock markets. If you are an active trader, you will be hard-pressed to find a better place than SpeedTrader. TradeZero Brief Overview. TradeZero is a Bahamian brokerage firm that offers some enticing day-trading services at low cost. There are a few caveats that some traders will need to take notice of, however. What about Lightspeed vs SpeedTrader pricing? Lightspeed, with its regular stock trades costing $4.50, is more expensive than SpeedTrader's rate of $4.49 per trade. With options, the base fee is $0 for both Lightspeed and SpeedTrader. Option contracts are pricier at Lightspeed, costing $0.60 versus $0 at SpeedTrader.