Foreign broker for <25K account

Discussion in 'Retail Brokers' started by Canor Elfman, Aug 9, 2006.

  1. scalper33


    Yes you can trade. The firm I am with offers that .What exactly are you looking for?
    #11     Aug 11, 2006
  2. yes, but be very wary of the following:

    1. you need to do a Series 7 certification.
    2. some firms lock your money away for 1 year, due to some archaic SEC rule. once you deposit, you can't take it back in the next 12 months.
    3. money is not insured, as mentioned before, doesn't receive interest either.
    4. some prop firms aggressively push you to generate commissions, and literally force you to over trade. even if you do remote trading they may require some monthly volume.
    5. you may pay high execution platform fees every month (on top of your charting software fee). top retail brokers (like IB) don't charge a platform fee. with a prop firm, you may pay up to $500/mo. platform fee, and on top of that, you will pay for the charting software (eSignal etc).
    6. there are some recurring registration fees also (since you are a certified professional).

    if you use a prop firm, you must review all these points with them and see what their policies are. read your contract very very carefully as well, if you sign with them.
    #12     Aug 11, 2006
  3. endian


    Good advice, 50cent, thanks.
    #13     Aug 11, 2006
  4. :cool:

    4 to 1 margin DBP
    2 to 1 margin overnight BP

    Oops hotshot beat me to it again...:D
    #14     Aug 11, 2006
  5. scalper33


    I get 20-1 Intraday BP & 3-1 overnite BP, no software fees, no minimum trading requirements, no licenses needed, very competitive rates, great staff and acces to traders chat room . If you are interested let me know.
    #15     Aug 16, 2006
  6. Sent you a PM for your secret broker? I hope this isn't a FX outfit?
    #16     Aug 17, 2006