Pattern Day Trader (EM) Margin Call

[Compulsive]

:eek: Tell ur broker to read the ET forum and he'll forgive u

 

[privador81]

But can i do withdraw?
If i cant trade anymore its pointless to keep money in the account...
Or the broker puts me some withdrawal restrictions due to SEC law or smth..

PS and for the highrollers.I dont have exceed amount of money to deposit to the site.

 

[circadian]

Quote from privador81:

But can i do withdraw?
If i cant trade anymore its pointless to keep money in the account...
Or the broker puts me some withdrawal restrictions due to SEC law or smth..

PS and for the highrollers.I dont have exceed amount of money to deposit to the site.

You can still trade, but if you are not willing to fund the 25K account minimum, you are not going to be able to trade frequently on margin.
You need to get used to the 3 day settlement period. Contact your broker and tell them that you want to continue trading, but will not be able to fund account with the threshold amount.
If they're worth a damn, they will help get you all lined out.

And if that doesn't work, why don't you try trading futures??

 

[Surdo]

Quote from circadian:

Contact your broker and tell them that you want to continue trading, but will not be able to fund account with the threshold amount.
If they're worth a damn, they will help get you all lined out.

NO RETAIL broker will allow you to day trade with or without margin with less than $25K in the account.

This is a bullshit FINRA rule, and not up for interpretation.
http://www.patterndaytraderrule.com/nasdrule2520.html
Please stop giving out incorrect advice on here, it is not helping anybody.

Trading futures is about the only decent suggestion you have made.

 

[Trad'nUp]

Quote from Surdo:

NO RETAIL broker will allow you to day trade with or without margin with less than $25K in the account.

This is a bullshit FINRA rule, and not up for interpretation.
http://www.patterndaytraderrule.com/nasdrule2520.html
Please stop giving out incorrect advice on here, it is not helping anybody.

Trading futures is about the only decent suggestion you have made.

Bingo.

He can stop day trading the "same stock" every day though. If you're day trading, just don't do it with the same stock every day. Do it with different stock, or wait and do it once a week or so. I think that will keep you under the radar and not in violation.

 

[ssblack]

Quote from nonlinear5:

What the fuck is "WTF"?

lol!

Look deeper grasshopper, and the answer shall come to you!

 

[millionaire7]

Try http://www.alliancetrader.com/
No pdt rule.
I dont have account there so not sure about the quality though.

Quote from Surdo:

NO RETAIL broker will allow you to day trade with or without margin with less than $25K in the account.

 

[pbj]

Quote from privador81:

But can i do withdraw?
If i cant trade anymore its pointless to keep money in the account...
Or the broker puts me some withdrawal restrictions due to SEC law or smth..

PS and for the highrollers.I dont have exceed amount of money to deposit to the site.

There are no PDT restrictions from withdrawing your money and closing your account.

 

[brokershopping]

Thank God for the pattern daytrader rules. Just think for a minute how much worse this economic catastrophe would be if we had pattern daytraders buying and selling stocks, willy-nilly. Sometimes all day long!

Score a big win for market oversight!

 

[bstay]

Quote from privador81:
WTF im not intresting in trading futures..
So is tehre sme restriction to withdraw my money?

WTF of course you can withdraw your money anytime. You account is now disabled from any trading for 90 days, but not "locked" from withdrawals.

You got everyone all over the place on answers.