$25,000 Minimum

The United States government along with the SEC(securitites and exchange commission) won't let you daytrade stocks with only 5K. You can daytrade futures but not stocks. You have to hold your stocks for 3 or more days before they will allow you to sell.

Yes, you still have to follow the rules even if you don't use margin money.

 

YoungOne,

if you have a margin account and a balance of less than 25k then your broker will let you only open 3 positions for the day a 4th trade is rejected. You can now close the 3 position during the day without any problem but then you have to wait 5 business days before your broker let you place another order again (see the link DeltaSpread has provided).

But if you keep your 3 trades overnight and sell it the next day then you can open 3 positions again.

 

YoungOne,
you can freely daytrade with $5k if you open a Canadian daytrading broker margin account, which is not subject to the Pattern Daytrader Rule. Depending on what you are looking for, compare features among Tradefreedom, Questrade, Etrade Canada etc.

 

I dont believe the rules apply to any futures. Not 100% on this tho'.

 

as of recently pdt apply also to ssf's.

 

You can always trade ITM options without PDT as well.

 

stock options are also subject to pdt. only index/futures options aren't.

 

i had HEARD that the SEC implemented a rule that subjected SSF's to the PDT rule recentlty

i have not seen confirmation of this

fwiw, daytrading most SSF's (most, not all) is somewhat problematic. they tend to have pretty wide spreads.

fine for position and longer term plays, but not easily daytradable, with the exceptions of the most liquid SSF's

 

I checked the sites and they say you have to have canadian address to trade with them, their not for americans to trade with unless I read ot wrong, I have seen other guys saying you can trade canada, it this true and what sites are available thanks

 

Can I open an account with Questrade if I am living outside of Canada?


Print Article | Email Link

Answer
Yes but we require proper ID verification. There are three ways which we can verify your identity. Either in person at our offices; with a cheque drawn on your personal bank account at a Canadian financial institution; or verification by a lawyer or notary in your area. In the case of the latter, the costs of these services, if any will be charged to you. There is also a minimum required deposit of $5000 USD to open an account. Questrade does not open accounts for US residents.



questrade doesn't work for us resisdents