Any US brokers allow day-trade with less 25K?
- Thread starter jimclark
- Start date
Nope, I believe that'd be agin' the law. (SEC rules)
At least as far as stocks and options. Index futures and forex aren't subject to this.
At least as far as stocks and options. Index futures and forex aren't subject to this.
most prop firms.
http://www.alliancetrader.com/
They're not a US-based company, but you can trade US stocks through them--and not just 4 round trips every 3 days, or whatever the rule is. I believe they get around the PDT rule by being based offshore (Jamica). I don't know anything about them, but I remember hearing about them when the PDT rule first came out, so they've been around for a while. I'm pretty sure that your funds are not SIPC protected, so just hope they don't go belly-up!
They're not a US-based company, but you can trade US stocks through them--and not just 4 round trips every 3 days, or whatever the rule is. I believe they get around the PDT rule by being based offshore (Jamica). I don't know anything about them, but I remember hearing about them when the PDT rule first came out, so they've been around for a while. I'm pretty sure that your funds are not SIPC protected, so just hope they don't go belly-up!
I was also looking for an offshore broker that allowed PDT with sub $25k balances. I found that Alliance Investments site linked above and realized that it had not been updated since 2004.
Further investigation found that they changed websites to www.allianceinvestment.com/. Now this site seems to still be up to date but no longer mentions PDT for sub $25k and no longer seems to offer any real time trading platform. They now only offer a web based platform.
I did email them asking if they still offered the old platform but never got a response back.
My suggestion is forget about these guys.
Further investigation found that they changed websites to www.allianceinvestment.com/. Now this site seems to still be up to date but no longer mentions PDT for sub $25k and no longer seems to offer any real time trading platform. They now only offer a web based platform.
I did email them asking if they still offered the old platform but never got a response back.
My suggestion is forget about these guys.
I don't know how to get around the $25k for stocks, but you could consider futures where account starting balances are $5k or under at some firms.