Thank you again for all the help, I had an Idea, what if I incorporated in the states, would that allow US brokers to accept me?
Options prop firm, EU/remote
- Thread starter jumpingfella
- Start date
it had nothing to do with pattern day trading, I was looking to get portfolio margin, and was told by a few firms that since I am Canadian I cant... so was thinking of becoming an american LLC...
I have portfolio margin with Interactive Brokers and am not in America or American.
you dont have to be American, but you cant be Canadian...
"Customers in Canada are not eligible for Portfolio Margin accounts due to IDA restrictions."
from their site https://www.interactivebrokers.com/en/index.php?f=marginnew&p=overview4
Robert Morse
Sponsor
http://www.finra.org/investors/day-trading-margin-requirements-know-rules
Q: Does the rule apply to day-trading options? Yes. The day-trading margin rule applies to day trading in any security, including options.
Learn something new everyday!
Robert Morse
Sponsor
Me too, even after 36 years in the buiness.
IS it true that PDT does not apply to Futures trading! if correct does it apply to options on Futures?
Robert Morse
Sponsor
Correct. Futures/Option are regulated by the rules of the NFA/CFTC and equity/options are regulated by the SEC/FINRA. PDT is a FINRA rule. You can DT all you want in a futures account with under $25,000. Our minimum to start is $25,000, but if your account drops, you can still DT.
Bob