Hi All, I have just recently started a post about how to avoid the PDT rule. I don't think that there is any possibility to get over this rule apart from changing to Suretrader. The main advantage with IB is their tired pricing structure which allows me to trade for 75p per trade, due to my relatively small size. If I do the same with Suretrader they charge 4.99 for 1000 shares which is negotiable to 4.99 for 10,000 shares. Still for me not interesting...I would love to go to Suretrader but does anyone know whether they might change their pricing structure to IB's standard? Another question is how is their short list? Has anyone experience with their short list compared with IB's on smallcaps and microcaps? THANKS!!
PDT applies only to sub-$25k accounts. Anyone with that little risk capital shouldn't be trading anyway.
there is no love in this business except when expressed by inexperienced traders/investors. markets and market makers don't love you back.
As another poster already mentioned above, PDT will apply no matter which broker you choose: IB, SureTrader, CrapTrader, etc. There's no way around it. It's the law, which all brokers must comply.
trade futures, there's no 25k requirement to daytrade and you can lever yourself 20:1 not that i would advise daytrading futures
Actually SureTrader claims they don't have PDT restrictions. They also appear to be a dodgy offshore operation that is probably violating a few laws about accepting U.S. customers; maybe they are a subsidiary of CrapTrader? In any event for the OP it's kind of apples and oranges to compare them to IB. If you're not a U.S. citizen then you have lots of spread betting options. If you are a U.S. citizen then you're either subject to PDT rules or you're dealing with a high-risk counterparty as a broker.
I am a suretrader customer. I daytrade for fun & profit. I swing trade with etrade also. Suretrader does not have pdt rule. You get: 6:1 margin, i have found customer service to be excellent, easy start up, and they pay! I try to draw every month. The commision structure requires me to choose mh trades carefully (positive spin). Bad news: make sure you are 2:1 by 3:29 EST or they will close your position and charge you a fee! 2:1 overnight ok. I like DAS Trader pro, very easy to use. Suretrader is a good place to start, maybe go prop later (not me though, i only trade first hour before going to my real job).
If not an US, Canada, Hong Kong, Australia or Japan resident then go with IB, there is no PDT rule for CFDs. You can't trade everything but most equity CFDs are available without any headaches. Suretrader is registered in the Bahamas, therefore no SIPC protection. Good luck getting anything back if things go really wrong. Financial businesses registered in the Caribbean islands have a tendency to go belly up.