seeking prop firm to bypass PDT rule
- Thread starter bearmace
- Start date
that's not a good idea. seek a u.s. based firm and get the 56. Look at all the other international firms. they are all closing. the DF act fully goes into effect the end of this year and it won't be pretty for traders who have their money offshore to avoid registration, background check, licensing or whatever. There are countless threads here about firms closing. Some cases traders got their money back such as with TM Global Capital and Lake Street Trading and in other cases they haven't such as with IBWorldwide and BSIC. You have to be willing to take a roll of the dice if you go overseas.
5k these days doesn't get u far. u can try t3, wts, avatar securities, jc trading group. all will require a series 56 license. The only way to avoid a series 56 is to go through a program like maverick trading or alpha 7 trading academy where you pay for education and then trade the firms' capital but the difference is those fees are usually non-refundable (unlike a trading account) and you pay for education so the firm technically has the right to let you go anytime they wish.
you can try suretrader.com - the rates are high though. also you can try nonko but they are offshore so your money may never make it back.
If you methodology works scalping futures why do you need anyone? There is no PDT rule, shop around and you'll get margins low enough to assure 50 to 1 (if not 100 to 1) leverage even of fast moving instruments like CL.
Again, with futures there is no PDT rule and leverage that is more than enough for anyone with a shred of sanity.
Again, with futures there is no PDT rule and leverage that is more than enough for anyone with a shred of sanity.