Multiple small accounts amounting to less than 25k

H

hoodooman

Has anyone on ET opened more than one account with small initial balances to get around the pdt rule. If so then how did it work out for you.
 
Never did this on purpose but my guess is that you would pass under the radar. I think I busted the 3 trades in one account one time and hedged with another and never heard about it. If it is with different brokers it is highly likely that you wont get "cought". Idont even think that it is illegal, not even shady. Just a lot of pain for 3 extra trades. Trade the fx or open with a 5k prop shop?
 
Never did this on purpose but my guess is that you would pass under the radar. I think I busted the 3 trades in one account one time and hedged with another and never heard about it. If it is with different brokers it is highly likely that you wont get "cought". Idont even think that it is illegal, not even shady. Just a lot of pain for 3 extra trades. Trade the fx or open with a 5k prop shop?
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I don't want to open a large account because my clearing firm is losing money, so I opened a small margin account a couple of months ago. Found another firm today that looks very interesting but they clear through the same firm as my other account. I just don't like dealing with a clearing firm that's losing money.

Thanks for the reply.
 
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