Any foreign broker / market for stocks day trading ?

Discussion in 'Retail Brokers' started by Koros, Aug 16, 2010.

  1. Koros


    because of the "pattern day trading rule" (what a stupid name), I can't open a day trading account on us broker because it requires 25.000 .

    Do you know a good stocks foreign market and broker, where I can day trade with smaller account, and with competitive comissions ?

    (I need to trade STOCKS, do not suggest forex or eminis).

  2. You might try two things.

    Check out Alliance Trader. They're in Jamaica. You can open a day trading account with 2000 and get 4:1 leverage and trade all you want. I tried them and was a bit nervous, but they were very responsive with every 'ting mon!

    Seriously, you're basically wiring money to their bank, which is here in the us, they anwer the phone, are quick to respond to emails, etc.

    When I cashed out, I had my money promptly, etc.

    The other option is to go with futures trading, which will give you all the leverage you want (far more than you should ever use, frankly), no PDT rules, and enough choices in trading vehicles to where you should be able to find something. This is what I'm doing now.
  3. iagainst what were alliance's rates? Thanks.
  4. If you're doing a lot of volume usa a proprietary firm
    if you're not doing a lot of volume: european broker/ bank (more expensive/ trade though)
  5. Don't remember, but you can google them...they were reasonable, but not as cheap as IB etc.
  6. I think the party's over for the prop firm model.

    See the post in the prop firm forums regarding Bright Trading.

    In a nutshell, you only receive 80% payouts. And this will likely extend to other firms as well as it's a FINRA (I think) dictate.