For details- https://www.lightspeed.com/fund4les...r&utm_medium=3rd-party&utm_campaign=Fund4Less You asked. We listened. For a limited time only, non-pattern day traders can experience our powerful, stable, and reliable Lightspeed Trader platform. For the first time ever, we are reducing our minimum funding requirements to $10,000 – that’s 60% lower than our normal funding amount. Now, this means more traders can qualify to take advantage of one of the industry’s fastest active and professional trading platforms. This offer is only good for prospective new customers of the Lightspeed Trader Platform. You must remain in good standing during the promotional period. Ask one of our representatives for more information. Why are we doing this? Quite simply, we want more traders to have access to our world-class, expert service and range of technology solutions. Whether you are a novice or a seasoned trader with complex strategies, our high-touch customer service team will help pursue your trading goals. Important Details: Apply online and use the promotional code, Fund4Less Offer applies to the Lightspeed Trader platform only. Promotional period starts the day the account is opened and ends after 90 calendar days Account minimum and software fees will be waived for the first 90 calendar days Offer available to new customers only Cannot be combined with any other offer or discounted rates Please note that all accounts with less than a $25,000 balance are not eligible for pattern day trading. Excessive margin calls, risk liquidations, and compliance or regulatory inquiries are grounds for removal from the program. As a non-pattern day trader, accounts are subject to certain restrictions. Click herefor more information.
Customers with accounts below $25k take a note what LightSpeed considers a day-trade: "The number of day trades is counted based on opening transactions. For example, if you buy 100 shares, then buy another 100 shares, and one hour later sell all 200 shares, this equates to two-day trades. " Other brokers would consider this as one day-trade. Such counting approach is a big disadvantage for non-pattern day traders who have only 3 day-trades per 5 days.
LightSpeed counting method described on https://www.lightspeed.com/non-pattern-day-trading-page/ Not a question, but a feedback to make your offer more attractive to traders with tiny accounts (if you need them of course .
We offer accounts starting at $10,000, but as those accounts can’t Actively trade, I would say our focus is on active traders, typically $30,000 or more.
Yes, it makes sense to focus on $25k+ accounts since PDT day-trade limitation. Just saying that running a promo catered towards new sub $25k accounts AND having unfavorable day-trade counting method makes hard situations even harder for them.
The reason why we came up with the Fund4Less promotion is that we get a large number of traders that apply for a new account, but either do not have $25,000 right now or do not expect to soon, but want to use Lightspeed Trader. Since our DMA software requires $25,000 to start, we have rejected a large number of accounts. The Promotion removes the cost of Lightspeed Trader for 90 days after approval, for accounts that fund with and stay over $10,000. This give the trader an opportunity to test the software and just pay for market data. Many are choosing a CASH account which has no PDT requirement and options settle in 1 day. Or, it gives them a chance to try us with less, then if happy, mve over the balance of their trading account. Bob