Last week someone suggested that US citizens could trade with purely Canadian Brokers and avoid the PDT rules completely. If so, give me some names, recommendations etc!
You can forget it. No Canadian broker will accept US citizen and on top of that the only Canadian broker that could be seriously considered for daytrading is IB anyway.
try some of those crappy vancouver brokers. Maybe they'll take your account Only problem is their credibility,backoffice, personnel etc.. Oh and you'll have to phone in your trades. lol
Yep US brokers (IB, Datek/Ameritrade, CyberTrader) with Canadian service have PDT, but the converse is not true. Some examples are: -TradeFreedom -Jitney Online Groups (Terra Nova partnershhip) -Disnat Direct -SwiftTrade maybe -Golden Market Management (it seem a PRO div. of ETrade -Canada but don't know nothing about them in the moment) -QuestTrade (not the CyberTrader branch because they have PDT, but the prop trading branch available for remote trader have no PDT in the past). But for the question if an American will be accepted, I don't know but in theory it could be, because I have seen some strangers in the trading room of the closed Broadway office, does maybe but I don't know the regulation about that, just contact them and if you obtain some answer it could be interesting that you share this information on this thread.
The Canadian market is much smaller than the NYSE and Nasdaq combined. In terms of total daily volume, the TSX does about 300 million shares a day...and Nortel is about 20 million of that. I'm Canadian and I feel that trading the TSX on an active day will be worse than trading the NYSE last Friday when we had the power outage. It's not suited for day trading that's for sure. You can swing it for 3-7 days but for day trading normal equities, stay with the US markets. DNAJ65000