Other firm than IB?

jasrlew · Jul 1, 2003

Anyone have an alternative firm that offers prices close to IB? I am planning on trading a cash account to skirt the PDT rules and IB said that it takes 3 days for the trade to settle, therefore no trading utilizing those funds for three days. Seems a little odd. Any ideas? Thought about SSF, but have a large learning curve to do that, would like to trade equities in the beginning. Thanks in advance.

easyguru · Jul 1, 2003

That rule is not IB rule, it is applicable everywhere unles you use margin.

jasrlew · Jul 1, 2003

When did that rule go into effect? I don't remember it the last time I traded.

Htrader · Jul 1, 2003

Quote from jasrlew:

When did that rule go into effect? I don't remember it the last time I traded.

Technically, these rules came into effect the same time the PDT rules did. IB was one of the first brokers to enforce it. Others such as datek(now ameritrade) later followed suit.

jasrlew · Jul 1, 2003

That sucks :mad:

jasrlew · Jul 1, 2003

On to Plan B......

lundy · Jul 1, 2003

there are some firms that give you the additional buying power to meet PDT requirement. And you can still trade small, but the extra buying power is in your account.

not going to name names but u should know.

i'm not a recruiter so don't pm me. but i do trade at a firm that offers this and it is nice.

jasrlew · Jul 1, 2003

Hmmmm....sorry but I have yet to find one. You're more than welcome to PM me to suggest some names if you have the time. Thanks.

Other firm than IB?

Guest