PDT for Canadians.
- Thread starter GotherL
- Start date
A little confusing because first you said you want to open an account with a Canadian online broker than you said you emailed your broker name VB. I will assumed the VB broker is American considering you implied you do not have a Canadian broker.
Why not just call a Canadian broker because they all have telephone numbers....make sure they understand you're talking about trading "U.S. stocks" and not "Canadian stocks" ?
Next, if they said there's no PDT rule for Canadian account holders trading U.S. stocks...ask them to point you to the location on their website that states such or ask for them to send you their literature about such or email it to you.
Last thing you want is a Canadian broker sales rep misunderstand your question and say something like "I thought you were talking about Canadian stocks".
Why not just call a Canadian broker because they all have telephone numbers....make sure they understand you're talking about trading "U.S. stocks" and not "Canadian stocks" ?
Next, if they said there's no PDT rule for Canadian account holders trading U.S. stocks...ask them to point you to the location on their website that states such or ask for them to send you their literature about such or email it to you.
Last thing you want is a Canadian broker sales rep misunderstand your question and say something like "I thought you were talking about Canadian stocks".
Wrbtrader is correct and I would double check for U.S stocks.
I use TD direct investing and PDT rule doesn't apply and theirs no free riding rules either for cash accounts unlike in the U.S.
I know however that Interactice Brokers Canadian accounts are subject to PDT rule and free riding rules with cash accounts.
From what I've seen here it has to do with how they clear the trades.
I doubt you'll find anything on their site saying this but a double check with a different customer service rep would be a good idea.
I use TD direct investing and PDT rule doesn't apply and theirs no free riding rules either for cash accounts unlike in the U.S.
I know however that Interactice Brokers Canadian accounts are subject to PDT rule and free riding rules with cash accounts.
From what I've seen here it has to do with how they clear the trades.
I doubt you'll find anything on their site saying this but a double check with a different customer service rep would be a good idea.
I'm with BMO Investorline in Canada and the PDT rule does not apply for any stocks or options. I assume PDT is a US only restriction.
VB stands for virtual brokers. And they're a Canadian broker. I haven't actually opened an account with them yet, I just have their demo account so I refer them as my broker anyways.
Lol, VB should be safe. They were ranked #1 on globe and mail for like 3 years straight. Don't judge something by it's nameVB (virtual brokers) sounds very shady. Would your funds be safe with them?
Not shady at all. They are located in the middle of Toronto (Yonge St. / Hwy 401) and have been around since 2009/2010 when BBS Securities decided to expand into the retail market:
https://www.virtualbrokers.com/en-us/contact-us
VB offers quite a selection of advanced trading platforms. You can check if there are any complaints about them on Canadian forums linked below where you can also ask about PDT at Interactive Brokers (Canada). To my knowledge PDT has been gone for about two years now, when IB-CA put their back office under Canadian rules.
http://www.financialwisdomforum.org/forum/viewforum.php?f=33