Broker to bypass day trade rule

M

mastertrader456

Is there a broker out there that allows you to bypass the $25000 requirement for day trading? I remember there was one out of the caymans but forgot the name. Aside from prop shops.
 
If you're trading in a cash account (not margin) you can trade with settled cash as much as you want.
Pattern Day Trading restrictions are for margin accounts only.
Though some brokers (Scottrade?) won't let you open a cash account. They want you to have a margin account.
 
If your account is under $25K I would suggest your focus on futures that don't have that restriction. An equity cash account would not help you as you would have to wait 3 days to get your buying power back.
 
mastertrader456 said:
Is there a broker out there that allows you to bypass the $25000 requirement for day trading? I remember there was one out of the caymans but forgot the name. Aside from prop shops.
More...
Another alternative would be to pool the funds together in a joint account to have >25k in sum, ie. trade with a friend, partner, family etc...
 
Any broker who allows that is not someone you can trust with your money. Pretty sure the one you're thinking of was a honeypot that the FBI allowed to continue operations so they could amass more evidence. Yeah, you're getting yourself into that kind of situation all to avoid the PDT rule.
 
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