day trader minimum amount?? uk

J

jabar2

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• Jun 27, 2009

• #1

hi there. does someone know if the 25K $ minimum amount to day trade aplies also to trading uk stocks or only US ??

 

C

candles

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• Jun 27, 2009

• #2

US stocks

 

J

jabar2

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• Jun 28, 2009

• #3

so having an 5k Ł account i can trade as many times a day uk stocks but only 3 trades in 5 days US stocks . am i right?

 

C

candles

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• Jul 3, 2009

• #4

I believe so

 

H

HaloTrader

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• Jul 3, 2009

• #5

Yeah jabar thats correct. However, understand that they're are reasons the US have applied that law... The same reasons are still present in UK shares.

 

C

Charlton

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• Jul 3, 2009

• #6

jabar2 said:

so having an 5k Ł account i can trade as many times a day uk stocks but only 3 trades in 5 days US stocks . am i right?

Click to expand...

It is a US legal restriction related only to acquisitions of US equities and single stock futures/

You can trade up to 4 trades in a 5 day period before being classified as a pattern day trader, although some brokers will draw the limit at 3 to stop falling foul of the requirement.

The link below gives a detailed explanation from one US broker

http://www.interactivebrokers.com/en/p.php?f=margin&ib_entity=llc

Charlton

 

J

jabar2

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• Jul 3, 2009

• #7

that's all i wanted to know thanks everybody

 

J

jammy1337

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• Jul 9, 2009

• #8

so i could day trade UK with £2k?

 

tar

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• Jul 10, 2009

• #9

Charlton said:

It is a US legal restriction related only to acquisitions of US equities and single stock futures/

You can trade up to 4 trades in a 5 day period before being classified as a pattern day trader, although some brokers will draw the limit at 3 to stop falling foul of the requirement.

The link below gives a detailed explanation from one US broker

http://www.interactivebrokers.com/en/p.php?f=margin&ib_entity=llc

Charlton

Click to expand...

u cant daytrade more than 4 times , but u can trade 100 times a week if u didnt close your trades at the same day , correct me if i am wrong ...

 

F

Fabrizzio

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• Jul 27, 2009

• #10

I dont know how it is with most brokers in the UK. But with most brokers in the Netherlands there is a minimum initial account value above EUR 4000,00 for cash and margin accounts.

 

O

Omoh101

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• Feb 25, 2010

• #11

There is no minimum amount required BY LAW to day trade UK stocks. Individual brokers may have varied restrictions though. Some brokers may also specify a minimum deposit to open an account with them. But my experience is you are allowed to drop below this minimum once the account has been opened / activated.
I'd advise that you check with your broker.