need be careful when trying to trade usa stocks if you trade more than about 3 stock bets a day most broker flag you up as a day trader then you need more $$ in your account. think these are usa gov rules .Once an investor has started buying a stock on margin, the NYSE and FINRA require that a minimum amount of equity be maintained in the investor's margin account. These rules require investors to have at least 25 percent of the total market value of the securities they own in their margin account. This is called the maintenance margin. For market participants identified as pattern day traders, the maintenance margin requirement is a minimum of $25,000 (or 25% of the total market value of the securities, whichever is higher)
thats correct, I know 90% of what you said with regard to PDT. I know I won't be buying or selling more than three a day with the same broker, I hope to hold for a few days, or possibly weeks for which I believe I have to consider overnight charges which I assume are quite minimal. Yes I won't be a PDT, at least with the same broker for different stocks; I will most likely use different brokers If I was intent on trading more than one stock at a time.
For margin I know td ameritrade require the $2000 deposit and there are one or two other brokers that don't consider the PDT too seriously; I'm not sure which ones.
I am still basically screening us international brokers and uk brokers for the best commission and deal based on a number of things, namely: platform fee, intraday historic download (1minute-5minute), mobile trades, reserve shorts without margin, minimum deposit, platform fee and cpu drainage.
interactive brokers is out of the question as I can't afford the deposit(10k). So I'm looking at going with td ameritrade as my primary platform through quotetracker with level 2. Then having something like suretrade and charles schwab and / or e-trade. Then maybe somewhere I can have a really low commission buyer like selftrade.co.uk or sharebuilder.com.
So if I have 2 3 or 4 brokers. Throw about $4000 to $5000 usd in minimum deposits to inactivity fees(if they apply), then I'll be sorted.
Im only going to be trading the nasdaq and nyse, stocks btw. So if anyone wants to throw me another pointer, I can give you credit or something. I'm not too familiar with the forum
