Basic PDT Question

Thought I would put my two cents worth. I trade with them and have found them ok. They charge no commissions but have wider spreads on stocks and futures eg. es has two tick spread and stocks have 5 cent spread. Margins are 3%. Hope this helps.
 
Quote from electron:



Do I read it right? You mean a 20:1 margin, meaning I could get $70K to operate for only $3.5K? Is that really right?
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Yes CFD'S are highly leveraged but I wouldnt recommend using the full margin available,margin is a double edged sword.
 
Quote from crazy_trader:




According to deal4free.com site
"
Unfortunately, we are unable to accept any applications to open new accounts from US residents, and all business with past clients has been terminated. This position is subject to review, and if circumstances change and you would like us to contact you again, if and when this position alters, then please e-mail your request to info@deal4free.com. We apologise for any inconvenience this may cause, but this is due to circumstances beyond our control. We will endeavour to contact you if and when we are able to resume offering services to US residents. "
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If deal4free arent taking new accounts there are a few different companys that trade CFD'S- GNI,MAN FIN,IG,ETRADE
 
You raise a very interesting question. As I understand the PDT rule, it specifically states "four round trips in any five business day period". I'll make a few calls since I would like to confirm this for myself as well.
 
Here is their answer:

'Dear Trader,

Day trading refers to buying then selling or selling short then buying
the
same security on the same day. Just purchasing a security, without
selling
it later that same day, would not be considered a day trade. So,
buying a
stock or option today, then selling it the following day would not
affect
the Day Trades Left count, nor would establishing a pttern of this
behavior.'

Hope this helps.
 
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