Should I start with scottrade

Discussion in 'Retail Brokers' started by ahenage, Jul 21, 2009.

  1. ahenage


    So I emailed the SEC and they didnt really answer my question, being as Im gonna start trading with somewhere between 5-8k, I cant fill up an account with the necessary 25k if I was to be labelled as a pattern daytrader, I decided that I could keep it to two round trip daytrades a week until I have enough to meet that minimum.
    I have heard horror stories that scottrade has a tendency to aggressively label daytraders maybe for the sole purpose of being able to tie up their Users' money. anyways. I liked them for their cheapness of commission but now I also hear they are pretty slow with filling orders. thats not going to work for me daytrading.

    I am fine with keeping it to two well thought out day trades a week until I have more capital, but I need a firm that is primarily going to be fast and secondarily have a small commission.
    Can anyone recommend a firm?