joint a/c

redart

Established member
890 248
Hi. I was wondering if there was a way of getting around the PDT rules as i have nowhere near the 25k i need in order to trade the way i want to....but my brother who trades a little bit, does...If he was to fund an a/c with the 25k would it be possible for me to trade off the same a/c at the same time as him? like a sub a/c with the same rights as the main a/c. hope that makes some sence. Thx for any replies.

Red
 

donaldduke

Experienced member
1,665 257
I once had PDT account in a joint name with the wife.

I dont think it should be a problem to have your name added
to your brothers account..

However if you are undercapitalised you should probably open
account with someone like deal4free, they give instant fills on
small bet sizes and have tight spreads too.
 

keano

Well-known member
327 30
Im in a similar situation to you Red. Donald, were you able to trade at the same time as your wife on a different computer? Did you have to pay for 2 data feeds?

As for D4F, ive been with them for 2 years. I never get instant fills on US stocks, even at 1 pound per point. I also dont think that the spreads are very tight. 15 point spread on MMM is a killer.

I have been trading a demo, direct access a/c for a few months now, and in the last 3 weeks am averaging nearly 100c per day(126 yesterday :)) I know people are gonna say that its nothing like the real thing, and its easy, but having traded for the last two years with real money, i dont know how i can make the demo any more realistic. I deduct commision sfrom my profit/loss, which the demo doesn't do. I trade my plan, and obey my stops, so theres not the argument of "yeah but on a demo, you can just sit with a loser until it comes good" I also only trading a pretend 100 shares at a time, so id expect to get filled fairly easily with that no. of shares in a real situation.

Anyways, just wanted donalds answers to my Q's regarding joint a/c's and people views on my success with the demo.

thanks guys
 

donaldduke

Experienced member
1,665 257
Keano,

No we wernt trading at the same time, it was a joint account
for tax reasons (however we never made a profit so it didnt
matter).

I get your point about multiple logins, actually my broker
did allow mulitple logins but i note that some these days dont
for obvious security reasons, this will be depentant on the
brokers specific software..

I have a deal4free account and have placed a few trades
at £1 on a couple of US stocks, these were all filled instantly, now
deal4free is not my main trading account so i dont know what
happens when you start making money, perhaps they mark your
account like others here have said, but i can only state my experience..
I actually opened my deal4free account in
anticaption of being outwork at the end of last year.. but
they still keep me around here even though i dont have any
work todo.. i spend the whole day trading...

15cent spread on a $80 (MMM) stock is very good in my book...
 

scarlet01

Newbie
3 0
Great info, I've been trying to do this. My husband and I have yet to find a joint A/C that works like we would like...IE multiple log ins...thanks
 
 
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