Hello! I'm new to this group as I am to Trading. I want to start Trading the Nasdaq with a starting 10000$ from outside the US (germany). I will be holding positions for 1 Day, seldom overnight, making approx. 1-3 RTs a Day (2000-3000$ investment / trade). At least this is the plan I am papertrading at the moment. I cannot (and I don't have to - with my strategy) use DAT-Accounts. Can you help me with finding the right online broker? I want my oder to be fulfilled within 2 minutes, and -of course- don't want to pay to much; neither the broker nor the brokers own account! would be very nice to hear your comments! Thomas. P.S.: I hope you can help me even if this is a BIT off topic!
Tommy, Look at Interactive Brokers (www.interactivebrokers.com) Every US broker will need at least $25000 in the account (SEC rules) to let you 'daytrade' stocks. There are some firms that will let you trade with less, but in those cases, your account is not SIPC protected.
Thank you for your reply, H2O. I know I can't make more than 3 RT/week with an DAT Account(with less than 25000$). Am I allowed to make more than 3 with one of the others, slow accounts? I mean, that's what I thought... Tommy
Sorry, now clear: what I mean is: Is there a broker who lets me daytrade with 10000$, Is not neccesarily an Direct Access, that is commonly rated as stable and "popular" in safety etc terms. Can anyone give me a hint? With kind regards, Thomas.