Broker for daytrading US stocks being non US resident:

D

daviavid

Me and my partner are currently working with DTTW, but we would like to work by our own because in Spain working for a third party is fiscally very expensive in comparison with being just an investor, so we want to avoid prop firms and try to search a broker or something that will provide us good brokerage agreements in order to have low fees for daytrading. We don't need leverage, but it would be nice to have some margin (We know I cannot have the same buying power than in a prop firm). We trade stocks hard to borrow in some strategies so we would like to have a good service for paying for borrows.

We trade around 3 million shares monthly on NYSE, NASDAQ and AMEX.

Does anybody have a recommendation?

Thank you!
 
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On Lightspeed Trader, in addition to the locates we get from Wedbush Securities, our clearing firm, we also offer Velocity Capital locates that have a cost, but offer access to access to stocks where a locate is required. This is from our manual. TSLA is just an example, it is often ETB.

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daviavid said:
We trade stocks hard to borrow in some strategies so we would like to have a good service for paying for borrows.
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daviavid said:
Me and my partner are currently working with DTTW, but we would like to work by our own because in Spain working for a third party is fiscally very expensive in comparison with being just an investor, so we want to avoid prop firms and try to search a broker or something that will provide us good brokerage agreements in order to have low fees for daytrading. We don't need leverage, but it would be nice to have some margin (We know I cannot have the same buying power than in a prop firm). We trade stocks hard to borrow in some strategies so we would like to have a good service for paying for borrows.

We trade around 3 million shares monthly on NYSE, NASDAQ and AMEX.

Does anybody have a recommendation?

Thank you!
More...
You might want to take a look at Interactive Brokers. Great for day trading global stocks at low cost. For Stock Loan you typically do not need to search for a locate as we update real time and in the US if you are doing decent side and need a stock you can place an order and the SLB will do what they can for locates. You can set up a column on your workstation which shows availability, check out history and current rates (see paste) and also download the current list via ftp. If you join our stock yield enhancement program, we will also pay you interest on stock we can lend out when you're not using margin. If you're interested and want further details, feel free to PM me and I'll introduce you to one of our reps from Spain.
 

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I don't trade stock on a regular basis. I am a currency trader. However, for a non-US trader I see a number of US stocks on Forexchief platform. The broker has been rock-solid for me. If you have other questions you may contact the broker directly.
 
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