Day trading pattern limitation of 3 transactions per week limits on Interactive Brokers but alternatives listed !

(Last Updated On: October 30, 2013)
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Day trading pattern limitation of 3 transactions per week limits on Interactive Brokers but alternatives listed !

Think or Swim API 30 trader per quarter (high transactional fees?)

Interactive Broker API 30 trader per trader

How does the SEC day trading rule affect Canadians?
Since IB U.S. securities and options trades are cleared in the US, the SEC pattern day trading rules are applicable. If you effect 4 stock or equity option “day trades” on a US exchange within a 5 business day period, you will be designated as a “pattern day trader”. The “pattern day trader” designation will require that you maintain a minimum of $25,000 (US dollars) to continue trading. For more information, please click here.

Alternatives from Time Sykes (mention him)

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This is from the horses mouth of IB. Thanks to this person who is a local Meetup member!

I just chatted with IB again:

1. pattern day trading rule applies to: US stocks, stock futures, bonds, stock options
  does not apply to: currencies, commodities, any canadian equity/ future/ bond/ option
 if pattern day trading applies, must have 25K US in account OR no more than 3 day trades in a 3 day period
2. uptick short sale rule for equities (for US, not sure if Cdn) – if stock falls more than 10% that day or following 2 days, must be an uptick to short sell

Questionable of

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NOTE I now post my TRADING ALERTS into my personal FACEBOOK ACCOUNT and TWITTER. Don't worry as I don't post stupid cat videos or what I eat!
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