Day Trading under $25k...

Is there a software fee other than the $1 per trade?

If I was trading in just 100share lots, maybe 8 round-trips per day would I pay 1.5c per share?

would they charge me if i withdrew money without having it wired?
 
Quote from candles:

Is there a software fee other than the $1 per trade?

If I was trading in just 100share lots, maybe 8 round-trips per day would I pay 1.5c per share?

would they charge me if i withdrew money without having it wired?
More...

Their fees are not the cheapest out there, I agree. But I checked with the support desk on wires and overnight checks. The commission page says wires and overnight checks in the US are $50, international wires is $100 and check overnight is $50. http://www.alliancetrader.com/commissions.html. They don't have it posted on the site but regular mail check is free. I have used that method several times. I gets it within 5 business days. And it is cleared funds.

That $1 software charge is a fee that they pay to the software vendor to execute the trade. I am on a per trade basis because I trade share size of 1000 shares or more per trade. It is definitely not 1.5c per share because there is a $7 minimum. That is the reason why I went on the per trade basis. It would cost me average of 1.5c x 1000 ABC = $15 + that $1 + ECN fees on a per share basis. If I selected Island as my ECN. My total trade on plan b would be 15 + 1 + 2 = $17 for 1000 ABC. As I have stated before, I have a special base commission before the ECN fees with them. (Email me if you want to know) But if I was on plan A at their regular rate it would be 12.95 + 1 + 2 = $15.95

They also have a maintenance fee for being on the software. I have never been charged it because I do more than the required trades each month.

In all, I am very satisfied with them despite that their wire fees are a bit on the high end. But you pay for what you get.
 
Hi,
I see on Alliance's site where it now says, "Alliance Investment Management, LTD is not targeted or intended for US persons. Service is only available to Europe, Asia, South America, Africa, Australia, and the Caribbean.
Member JCC, FSCJ Registered."
Is this still avaibable to US residents and is anyone here still using them? How's it going with them? Thx.
 
Quote from BCE:

Hi,
I see on Alliance's site where it now says, "Alliance Investment Management, LTD is not targeted or intended for US persons. Service is only available to Europe, Asia, South America, Africa, Australia, and the Caribbean.
Member JCC, FSCJ Registered."
Is this still avaibable to US residents and is anyone here still using them? How's it going with them? Thx.
More...

I was using them for slightly over a year, however about two months ago they asked me to sign and return a disclaimer saying that they did not solicit me for their services or else I couldn't trade. I declined to do it and closed my account. I had no complaints during my time with them though.
 
Quote from SteveD:

You guys do understand that this "offshore" method around PDT is just a scam and they will take your money and disappear.

These types of "shortcuts" always pop up when they see a vulnerable victim.

SteveD
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A bankruptcy filing when they have $100 million in total customer deposits in the brokerage account makes for a fine retirement. Especially in corrupt places where the whole govt. including the president on down can be bought for a $1 million bribe.
 
Quote from mhashe:

A bankruptcy filing when they have $100 million in total customer deposits in the brokerage account makes for a fine retirement. Especially in corrupt places where the whole govt. including the president on down can be bought for a $1 million bribe.
More...


100 Million from the Global customers Less US customers is just peanuts, they will wait for a larger booty like a billion from the world customers.
 
I am about to open an account with alldaytraders.com with about $7k...I have been swing trading for a while but can't seem to move the way I want to with the day trader rules here in the US. I have read this entire thread from top to bottom and have yet to hear anything bad about this firm except for the commish which seems like it can be negotiated.

Anyone else doing or have done what I am about to do with these guys and had a real problem??

My goal is to get to $25k and get with a US firm again once I have the cap.

Suggestions?? Comments??
 
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