For some reason, I do not believe you. A broker with whom you are looking to do business with as a new customer will not answer a simple question about if they limit the number of trades you could make in your situation? I could call them tomorrow for you and ask them on your behalf.
you could call them now, they are open 24/7 . I didn’t want to prove anything to you, I was just asking a question, you don’t have to believe me. But I wasn’t lying!
This is the best answer so far, I really appreciate! Anyone else has/had experience with Charles Schwab?
No no no. You never call a large American-based business that claims to be open 24/7 at night-time in the USA. Your call gets routed to an Indian call center, where they read from a script. You need to speak with reps from the company, not with Hindi assholes who moonlight as the folks scamming you on the phone during the day claiming you owe the IRS thousands of dollars, credit-card number please so we can resolve your back-taxes and penalties.
Okay, you are so lucky that I don’t have Indian heritage! But others may do, I wouldn’t have said that. Anyway, like you said earlier, it is internet.
Not to get too off track here, but I remember about a year ago I got a call from one of these dudes, and engaged him so deeply about how he was scamming, I asked "Why do you Indians keep trying to scam US citizens out of their money?" The guy said, and this is no lie..."Because it is so easy to do so." So, for shame on both cultures. Indians for doing it, and Americans for being dumb enough to fall for it.
Those kind of scams are nothing comparing to what this guy did! https://en.m.wikipedia.org/wiki/Bernie_Madoff
I'm not thrilled with them. - I like how they have free trades; that's nice. - I like their help system. Their chat gives you quick access to a service rep if you need it. - I don't like their margin rates; they are quite high (6-7%) vs IB at about 2% - Same for Shorting fees. - I find their UX to be a little unintuitive. Maybe I'm just not used it but I find it to be rather clumsy. --- For example, I can't quickly see and browse through my current open positions and charts. With IB I can just arrow key up and down. --- They also have separate Account and Trade windows. I have to flip around a lot --- Important things are buried a bit: behind tree widgets, on different screens. Seems it was designed by someone who didn't have that experience in the trenches. --- I don't think they had day trading in mind when they built SSE. - They don't have an API.
Here is a margin rate comparison. Schwab is up there around 7-8%. That's another heavy tax on a day trader. https://www.brokerage-review.com/article/brokerage-firm-margin-rates.aspx