PDT -> Pattern Daytrading You can search on this forum about this topic, a lot of thread about this regulation that come from the SEC and hitting many trader. Summary, if you trade on a margin account and that you have under 25kU$, you have a limitation of 3 daytrades (open and close a position in the same day) in 5 working day.
Here is what I see: http://www.questrade.com/join/fees_webtrader_equity_options.html best to email the company for clarifacation. Cheers all.
Hey guys, which firm would you recommend for an intraday-swing trader starting out with a small u.s.-based account? I was almost settled on IB, but I don't want to be held to the PDT rule if i pickup more than play on my scans. Are there any swingtraders that use Quest or something different?
Questrade now offers $9.95 per order unlimited share orders... http://www.questrade.com/join/fees_equity_options.html "Join Questrade today and experience Questrade's simplified pricing. Now trade for only $9.95 a trade. Every month. Unlimited. Now trade unlimited shares for one low price! All prices listed are in US dollars. " btw: NO PDT... btw2: Direct deposits in CDN$ funds at most Major CDN banks using the âPay Billsâ function through Internet Banking. disclosure: currently an Etrade Canada client.
...and you would think that withdrawing money from your QT account via an EFT would be faster than a cheque by snail mail. But it ain't.