Who knows companies opening daytrading subaccounts (US equities) under $5000?

Dear sirs, hello.

I guess you know that according to US laws daytrader has to deposit $25000 minimum on his account to have opportunity to trade actively.

But I know that today to trade US equities without putting $25000 on deposit many people open account in companies that have proprietory trading account, but are not licensed brokers: they are agents or mediators.

Traders have their money on subaccounts at these companies and their trading looks like they trade company's money. And such companies:
- opens subaccount for daytraders as low as $1000 or $2000 or $5000,
- sometimes offer very competitive comissions,
- offer high leverage if needed (10 or 20).

If you here anything about such companies could you please advice them and give brief comments about them.

As I understood, such cooperation is risky because actually trader is not owner of shares (this company - is), such company could disappear with all money )) and so on. But may be you know who works good among such companies?

Thank you very much for your comments.

 

Epiphany Trading takes deposits and make 100% payouts in complete contravention of US securities laws.

 

Is that an endorsement or criticism of them?

 

http://www.guardiantrading.com/trading.html

A sub of genesis. This is not an endorsement, just info.

 

What securities laws?

 

25,000 account minimum required for day trading

 

I understood already the system. It's way to go around US securities laws ))) People work for company - and they are workers but not private traders. And if to trade via prop firms 25 000 isn't needed - 2000-5000 only. The problem is such company is one more intermediate between echange and trader and that company owns and sells and buys shares, not trader, hi is only 'its trader'.

 

hmm,
if you have $2000 to $5000 to spend, maybe I'll book your trades for you. How much leverage do you need?

 

How long have they been around ?

 

If you can't post 25k to trade, you have no business trading in the first place, on your own.

If you join a firm that requires 5K and its in a "Pool", one rouge trader can take down that group.

The day of "Everyone" daytrading is over. 99% blow out faster now, than in 99-2004.

If you want to trade with a solid group. Look up Schonfelds best.
They have a few different groups but are very very picky in bringing people in. That is why they are not talked about in their present form, on this site.

Otherwise, learn to count cards.