IB PDT on Canadian Stock (TSE)?

Discussion in 'Retail Brokers' started by North Pesos, Aug 28, 2003.

  1. Does someone from IB could confirm or not if IB will be apply SEC PDT rules on the Canadian TSE even if the TSE don't have PDT?

    It is hard to believe this rumor from the IB forums when you see that IB don't apply PDT on European or Asian market, we don't see why this will be different in Canada where no PDT exist.

    Thank
     
  2. That would give trading in Canada a kick start for IB. lol
     
  3. paradox

    paradox

    I tried a daytrade on Tthe TSE with an account with less than < 25K and the day trade counter did not change.

     
  4. are you american or canadian? Would be interesting if americans weren't subject to PDT on Cdn. exchanges.
     
  5. From IB Tim

    «The PDT will apply to TSX trading. The reason is that our clearing firm is our US entity IBLLC. As such they must conform to US regulations even if the trading is done outside of the US. We were unsure of this ourselves but consulted with SEC about the issue and that was there ruling.»

    ---------------------

    If this is right, IB apply PDT on every market, European or Asian included. But I am a little bit surprised because I remembered that some old thread where some people mentionned that no PDT on Asian market for IB account, it seem that is not true with this reply from IB. Maybe some European or Asian could comment on PDT on their market with IB, this will be interesting to confirm this fact.
     
  6. shhhh.... They haven't made the changes in their software yet !

    Cheers!! :D
     
  7. Some IB customers from Europe report that the PDT seem not to be effective on the CAC stocks, but as mentionned above, IB Tim seem to say that IB apply the PDT because the IB clearing house is in the USA and that every non-US market will be also restricted by the PDT limitation.

    What is the real rules that IB apply for non-US market? PDT or not PDT on non-US stock market?

    BTW, as a suggestion, maybe IB could put this information in a FAQ on their website about the PDT on the non-US market.
     
  8. I'd love to be wrong about this, but I think we Americans aren't allowed to own foreign equities.
     
  9. def

    def Interactive Brokers

    You can trade foreign equities. The restriction is on equity derivatives.
     
  10. Steve_IB

    Steve_IB Interactive Brokers

    Yes, unfortunately PDT rules apply for Canadian stocks to all customers.

    It seems that PDT rules will also apply to US customers in every stock market.

    PDT rules do not apply for non-US customers in non-US and non-Canadian products.
     
    #10     Sep 4, 2003