Day trading while living in the USA

[barboni1]

Hi guys,

I searched the forum and could not find anything related to the question I have and possibly other people might have as well. I was hoping someone with more information could shed some light on the subject.

I am currently in the USA on a working visa (E3) on a marketing position and I recently started training as a day trader and I hope to move forward with it.

Is it better to trade using an Australian online broker? Or an American broker? Is it even possible for someone who is not an American citizen and is currently living in the USA to open an account with an USA online broker?

I know they have the PDT rule here in America which you need to have at least $25k in your trading account if you are executing 4 or more trades per week. You can get around by opening an account with Suretraders International but their fees are are just too high, specially if you are doing a few trades a day.

And any recommendations of online brokers in either case if in America or Australia?

Cheers

Gus

 

[minwa]

Re: Day Trading while living in the USA US, PDT rule in America, online brokers, US s

Use American broker. Even if you trade Aus market only I recommand US broker lol paying the great aussie surcharge is just pointless.

PDT ? So you are day trading stocks not futures ? I'd have to ask you why. To not get killed in spreads and slippage you should be trading large high beta stocks which just follows the index/future anyway. Lower commissions in futures. No PDT nonsense.

Interactive Brokers is a good broker, but it's not for beginners. Tradestation would probably be my second choice.

 

[joekim87]

I have heard that Interactive Brokers is a good broker buy haven't heard much about Tradestation. Is there any particular reason you prefer or rate Tradestation?