Hey guys, I'm a profitable day trader who's looking for more buy power for a few new strategies I'm developing (so spare me the leverage is risky lecture) I need a stock broker that provides 10-20 times leverage (intraday only, no overnight positions). Now i know that all retail brokers provide 1:4 for intraday and maybe if you put 100k then you can get 1:6 but that's still isn't high enough for me. No CFD's please but I don't mind looking at unregistered brokers who provide the leverage and doesn't have a bad rep. I heard about prop firms which is a whole new world for me so if someone can help me with finding the safest and best place for me and my requirements in those fields that would be awesome because i heard i can get 1:20 in prop firms. btw, Can you trade offshore without some sort of a license there? Except for the leverage, I need the broker to have: - Direct access trading platform (for intraday duhh) - Commission structure of 'per trade' (per click) that is $10 or less per ticket including ECN's inside that price for at least up to 6000 shares if not unlimited - Good execution - Good support - Be as well known, big and safe as possible (again, as possible) That's the basic stuff I'm looking for, all the rest of the important things I will tolerate not being to my liking but numero uno is leverage and after that the check list i provided above. Would appreciate any kind of help. Thanks alot, Roy
Not a stock trader myself but I've heard Bright trading is down this alley particularly when it comes to intraday leverage.
Thanks man, I started looking at some prop firms but do you have any idea if it's possible to trade remotely outside the US without having any type of license for trading?
Bright is still around? With the state of their web site, I thought they might've stopped around 2012-2013...
If you overcome your fear of CFDs, I would receommend you Interactive Brokers. CFDs are DMA, totally the same as the stocks. Leverage is mostly 1:10 Otherwise you really need to go with a prop firm. But be careful when choosing one. Other traders also use options for more leverage, but you need to understand what you do; it's not the same as trading only the stucks and maybe not approbiate for your timeframe. Out of curiousity, how do you find the stocks that you play intraday? Do you have a hot list, by volume, gain, gap, earnings or use a definete list of stocks that you watch everyday?
Yes. The website does not make a good impression. However, A lot of their stuff from front to back office is hooked to Goldman Sachs.
I forgot about IB, just called them and it sounds nice although i prefer the higher leverage that prop firms give you and prop firms are also not CFD's but i will take that in mind as a last resort. Is it common for a prop firm to allow remote trading for european traders? (when the firm is located in the US). My strategy you ask? I got a few, my main one is pretty complex, hard to explain with words...lot's of feel of the market and the stock itself. Roy
most USA prop firms that take your money as 1st loss, only accept domestic LPs but most allow remote trading.