SureTrader - Providing sensitive information

Discussion in 'Retail Brokers' started by Max Dup, Jun 4, 2016.

  1. Every US broker has PDT, even with international branches, even for foreign customers - PDT applies for every broker which has main (tax) residence in US. Simple. To the rest of the world, PDT is unknown.
    "New to trading" + "Want to make SureTrader account" = "excellent" start. Will not hear about you soon.
     
    #41     Jun 11, 2016
  2. TradeZero is also Bahamas based, offers US market trading but does not deal with US traders. May be worth a look if that is a concern... Especially to people in Canada, that has an incestuous relationship with the IRS.
     
    #42     Jun 11, 2016
  3. Metamega

    Metamega

    I trade with TD direct investing and their is no PDT rule. I don't day trade so would never run into the issue but I have called them before and asked just in case I wanted to liquify multiple positions I put on immediately due to some major news or something like that.

    Another rule they have in the states that TD atleast doesn't follow is front running or something like that. In the states it's not allowed to buy securities with unsettled cash in a cash account. With TD direct investing with my registered accounts which need to be cash(no margin allowed) as soon as I sell the funds are available for trading. I'd only need to wait for settlement day if I want to withdraw the funds.

    For awhile I knew IB Canada had to adhere to the PDT rule with Canadians as I think RMorse mentioned it was the way they clear the trades.

    As far as I know U.S citizens that open a trading account in Canada would be subject to PDT and I don't know why you'd choose them if you wanted to day trade. At 9.99 commission and lacklustre software. Well for registered accounts your stuck with Advanced Dashboard which is a sad software for trading and for U.S dollar margin account you have access to TD U.S trading platform which is thinkorswim.
     
    #43     Jun 11, 2016
  4. coplii

    coplii

    When filling out sensitive information on the web it's always a good idea to use a vpn to encrypt the data, I use www.goldenfrog.com/vyprvpn.
     
    #44     Jun 30, 2016
  5. This is not accurate. I trade at TradeZero and there is no PDT and I trade US stock markets.
     
    #45     Jun 30, 2016
  6. Hooter

    Hooter

    Are you a U.S. Resident?
     
    #46     Jun 30, 2016
  7. conduit

    conduit

    Then there is something fishy. Even non resident trading US equity markets by US regulation are subject to PDT

     
    #47     Jun 30, 2016
  8. Hooter

    Hooter

    There is another broker in the Bahamas that doesn't enforce PDT. But more likely than not, you are trading their account, and I believe that in some cases they take the other side of the trade (like a cfd). It works for me as I only use limiy orders, trade small, and am not really interested in trading prop.
     
    #48     Jun 30, 2016
  9. Nothing fishy. Been there for over a year and all is good. They clear with a US clearing firm and no PDT. they do not accept US citizens however, but we trade DMA with US markets so there is no opportunity for them to take the other side. All my limits are represented by EDGX or NSDQ.
     
    #49     Jun 30, 2016
    Hooter likes this.
  10. conduit

    conduit

    What firm is that if you don't mind sharing


     
    #50     Jun 30, 2016