Anyone use TDAmeritrade?

Discussion in 'Retail Brokers' started by interdigital, Oct 26, 2007.

  1. I have made 3 daytrades in the last 5 days. I also have a lot more than $25K in my account.

    On my Streamer Suite Console, it shows some red messages saying:

    Another day trade will flag you as a day trader.

    Another day trade will limit you to closing transactions only.

    Since I have more than $25K in my account, why will it limit me to closing transactions only? They seem to be smart enough to detect that I have 3 daytrades in 5 days, but not smart enough to detect that I have over $25K in my account?
  2. I'm guessing there is something you need to fill out in your application or account profile to allow you to be a PDT. Before you get in a bind, why not call their customer service and ask.
  3. pbj


    This is just TDAmeritrade's standard messages indicating that when you place the next trade your account will have the daytrader flag set. Then you won't get any more warning messages. As long as you keep at least $25k in your account you can daytrade as much as you like, including both opening and closing trades. You can always call them to verify this information.
  4. GTC


    One can opt to remain non-pattern daytrader no matters how much money they currently have in the account. Some brokers will not let you day-trade unless you sign a day-trading disclosure form. Ameritrade has one of the fastest email response services; you can easily get it resolved your way.