Another way of daytrading with less than 25K is what Serge of Genesis (www.gndt.com) once told me that one also can join/create an LLC account, or several people can create a joint account.
Day Trading under $25k...
- Thread starter nyc-hotshot
- Start date
i'm going up to new york tues to talk to him about one of those accounts
anybody trading this way?
The most Alldaytraders (Alliance) gives is 4 to 1 buy power. It doesn't matter with them if you're licensed because they are not NASD members. They are a foreign broker, that's why they don't have to follow the NASD pattern day trading rule.
Hey guys,
Sorry to bring up an old thread, but I just wondered whether the people who tried out Alliance Traders were still using it, and how it was going.... also if anyone else joined it as a result of this thread.
Sorry to bring up an old thread, but I just wondered whether the people who tried out Alliance Traders were still using it, and how it was going.... also if anyone else joined it as a result of this thread.
Hi
Yeah, I and several people I know still use them. I know quite a few people on elite have PMed me about these guys, so I'm sure some others here must use them too.
Like I said before, you can get a cheaper commission if you email them and ask for a lower rate: trading@alldaytraders.com
I highly suggest doing this.
My friends and I pay $9.95 +ECNs, which is the same rate Cybertrader offers, except with Alldaytraders you can day trade everyday with under $25k.
Later,
Russ
Yes. As Traderruss as already posted. You can get a lower commission rate set up by
emailing them. Personally, I've used them over 2 months and no problems what so ever. My commissions run me $8.95 + ECN and NASD fees.
I hold a large sum on deposit with them. I've wired to and from the account in access of 100K at a time without a problem.
Tax benefits are more generous with an offshore account than domestic.