day trading platform with under acct $25000 I beg you to answer!

[Anthonyfamy]

i am currently using tradeking but it is pain in the ass when it comes to trading limit.
my budget is $8000 and i heard taht some prop. firms offers their platform with minimum of $5000 so that people can day trade
any suggestion?

[amopabila]

I'm sure there are more authoritative answers but it is my understanding that under US regulations you must have minimum $25,000 to be eligible for a pattern day trading account...meaning that you will be able to go in and out of the same equity on the same day more than 3 times in a 5 day rolling period. Means you can do a day trade or two in a five day period but three is the max unless you have everything required for pattern day trading.

I don't know about the rest but TD Ameritrade has no minimums for regular trading or setting up an account. But $2000 minimum is required for any kind of margin trading...meaning shorts, and option trading where it is not cash or equity secured...etc.

[AnnaDub]

Yep, some prop firms offer $5k down IF you take their training course (which usually costs more money) OR check out SureTrader.com. A Bahamas brokerage that takes U.S. citizens and doesn't have to deal with the day-trading rules U.S. brokers do. I have several clients that trade thru SureTrader. BUT along with the convenience of day-trading comes a few other fees such as platform and withdraw fees.

Although, your broker doesn't matter if you don't know how to trade.... Just saying, learn first, trade second.

[AntonioVem]

the question should be : are you an american citizen or not..? If you are there is little you can do because you are not free to handle your cash like you want to...

all other people in the world can...

If you are not : here is your answer :http://www.whselfinvest.com/en/index.php

if you are , have a good think when you vote nex time

[apifxonm85]

I'm kind of in the same boat as you, sehoonkyle. I too have a TK account that I have always just used for my long term investing, but after recently deciding to be more aggressive with my money, I've turned to learning more about swing and day trading. I joined a day trading room, Picks That Make Cents, in hopes of learning how to be successful at it (day trading). The head trader, Kavan, really pushes CY Group. They offer 20:1 leverage ($100k on a $5k deposit) with rates that he says are good. Of all the firms I've looked up, they seem the easiest to deal with, but I have yet to use them. (I've been paper trading on the day stuff and just recently started swing trading in my TK account). I downloaded the demo Sterling Pro platform this weekend and have to admit...it's pretty daunting compared to the ease and simplicity of the TOS platform. My gripe with them so far is that they (and Kavan mentioned this) don't speak (or type) English very well and there doesn't seem to be a way to use any other software except the Laser or Sterling. I really like the looks of NinjaTrader and their platform, especially being able to trade off the chart and the 'advanced trade management' where you can really manage your risk. In any case, Investimonials has Cy Group rated #1 prop firm and I haven't heard anything negative in the chat room, if that helps any. :)