Discussion in 'Retail Brokers' started by dirtybrown, Jun 7, 2006.
I'm aware of http://harmontrading.com/
any others out there thanks
forgive my noobness, what's bp?
buying power. when you use 1:4 margin on $2000, you would have $500 bp. if you used 4:1 margin you would have $8000 bp.
Very creative. "I'm aware of ( please bite) ---link---"
Welcome to my boiler room.
woops, yeah of course I meant 4 to 1, dyslexics are people too
alright, well can you suggest an alternative in this situation?
give me a break, i used that url because I fuond it on THIS site
unless i'm mistaken, nearly all retail brokers offer the same thing, but it is really two separate 'things'.
yes, you can open an account with $2,000.
yes, you can use 4:1 bp for daytrading.
but, the daytrading parameters are not up to each broker. the $25k min req is applied once you have been flagged as a PDT trader. you don't need $25k to open an account or use the 4:1 bp - but to continue daytrading you will need to fund it with the $25k.
so, their statement is true, it just doesn't last long due to the PDT rules.
that's been my understanding and experience anyway. i'm sure others can elaborate further or perhaps counter it with alternative experiences.
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