Any brokers that dont enforce the 3 trade rule?

Discussion in 'Retail Brokers' started by dumtom, Oct 28, 2002.

  1. dumtom

    dumtom

    Any firms out there that are lax on the 3 trade 5 day rule? Thanks
     
  2. NO. :eek:
     
  3. Perhaps you could multiple accounts with different brokers to satisfy different trading needs.
     
  4. Ninja

    Ninja

    Wouldn't it still be illegal to make 4 or more daytrades within 5 business days in different accounts?
     
  5. gaj

    gaj

    etrade used to be.
     
  6. mdmbud

    mdmbud

    Just wait for SSF's
     
  7. First of all, it's not illegal. It's an NASD rule, not a law.

    One brokerage firm has no knowledge of another's activities. This is a brokerage firm rule, not a rule for individual traders. You could do 3 day trades in 3 (or as many as you want) different accounts, as long as you don't violate the rule in an 1 of the accounts.
     
  8. marketsurfer

    marketsurfer Vendor

    hotshot,

    isn't that how martha stewart got in trouble , violating security rules ??

    LOL,

    surf:)
     
  9. She violated Federal Law not NASD. The Insider Trading Act. NASD has no authority over the public, only us the registered traders :(.
     
  10. I concur! So it's really very easy to circumvent the PDT rule. Just take $2,000,000 and split it up into 200 accounts with 200 different brokers. That way you can do 600 daytrades for each 5 day period! Problem solved.
     
    #10     Nov 2, 2002