working with a Prop Firm

Discussion in 'Prop Firms' started by karth, Mar 27, 2009.

  1. karth


    I am on a work visa sponsored by an employer, How would day-trading using a prop firm be classified as ? I have been looking at prop firms that allow you to daytrade by using a small risk deposit. 5K - 20X leverage.

    I would be givien a K1 to file my taxes with. Is this considered self employment or investment return. I know for sure that I can day trade using a retail brokerege account , which i have done all these years without problems.But the prop type setup is a little different ... Any ideas would be appreciated. My only aim is to overcome the PDT rule .
  2. Just out of curiosity, what firm are you looking at??
  3. karth


    Did you get my PM ? Are you looking for a similar setup ?
  4. Not sure what you mean by PM.

    I'm starting a corporation and will be identified as that with CyGroup. I will not be using my own SSN. And although I will be a part time trader (who really keeps the hours here?) I'll stand a better chance at being identified as a Day Trader by the IRS and hence the tax credits.

    What other Prop Firms do you know of?