Tradezero

Discussion in 'Retail Brokers' started by neo-13, Aug 23, 2020.

  1. neo-13

    neo-13

    Hi everybody
    are there some of you who use trade zero as a broker and specialy the brand they have in bahamas and avoid the PDT rule?
    I'm not a US citizen and not enought money (25k$) for open a trading account as the PDT rule oblige us, so with only arounf 2500$ we can open an account to this broker and allow us to day trade.
    But I don't know them and I would want to know if I can have trust in them or I have to avoid them.

    Realy thanks in advance for you help.
    PS: please avoid the answers like, if you don't have enought money avoid day trading and ....., thanks but I'm aware about that I do.
     
  2. DevBru

    DevBru

    I do have a small account with Tradezero international.

    So far no issues at all.

    They claim to be insured by Argenta Group but don't provide any details so i am going to try and figure out if they actually are insured and what the insurance covers.

    I can recommend them for smaller accounts, if you plan on opening a larger account i would suggest avoiding brokers in restrictions like the Bahamas.
     
  3. Baron

    Baron ET Founder

    They are solid so you will be fine. They have been sponsoring this site for well over a year now and have been reliable and trustworthy.
     
  4. i have account with trade zero, sometimes is confuse. I cant understand short sale fees

    A big problem with trade zero is the broker dont support two factor authentication ( like email or sms) to protect accounts.

    Other problem is your buy power is not updated real time, but just next day
     
  5. realtrades

    realtrades

    If you are not a U.S. resident you don't have to worry about the PDT rule with any broker.
     
  6. DevBru

    DevBru

    Wrong.

    If the broker is located in the USA they will have to apply PDT.
     
    gaz0001 likes this.
  7. TradeZero_Dan

    TradeZero_Dan Sponsor

    TradeZero Intl has overall account insurance through Lloyds of London, as our US based clearing firm Vision Financial Markets, only provides SIPC coverage to the firm as a whole.
    Account holders at TZ Intl are not subject to PDT. Any non US citizen using a US based broker is subject to PDT.
    TradeZero has been licensed and registered with the Securities Commission of the Bahamas since 2015.
     
  8. neo-13

    neo-13

    A realy thank's to all of you for your answer and your help.:thumbsup::thumbsup::)
     
  9. TradeZero_Dan

    TradeZero_Dan Sponsor

    2FA is coming soon.

    The short fees show you how much in total and how much per share that the short locate will cost you.

    All buying power updates in real-time for margin accounts. Meaning, once you use the BP for a daytrade and then you unwind that trade, the BP is restored immediately. Cash accounts dp not restore BP after you have used it until the following day.[/QUOTE]

    Other problem is your buy power is not updated real time, but just next day[/QUOTE]
     
    Last edited: Aug 25, 2020
  10. realtrades

    realtrades

    #10     Aug 24, 2020