Hi all,

I read the first post already, need some help here.

1. I am not a a frequent trader, so i cant maintain min 10USD brokerage fees monthly, the the only viable way is to register Tradestation and deposit min 2K USD( i checked website it is no longer 1k)?

2. Tradestation only allow trading after live data enable? How much should I pay for live data for NYSE and NASDAQ?

This is for day trading requirement. You need minimum $25k or else, your account will be flagged if you day trade frequently.

Guys, I have been Swing/ day trading for few weeks now. And the cash not settled w 2-3 days wait is making me lose of on good profits 😖

Do you guys recommend margin acc? The thought of ‘borrowing leverage’ is scary to me cuz Im not familiar w it..

Anyone here as a trader mind sharing your experience on margin? Like whats the pros & cons you encountered?

Hi all,

I read the first post already, need some help here.

1. I am not a a frequent trader, so i cant maintain min 10USD brokerage fees monthly, the the only viable way is to register Tradestation and deposit min 2K USD( i checked website it is no longer 1k)?

2. Tradestation only allow trading after live data enable? How much should I pay for live data for NYSE and NASDAQ?

Damn that sucks.. I wanna daytrade but got less than 25k.. Guess I’ll get flagged if I switch to margin haizz. Any ways to avoid this? Seems like I can only just stick to cash account for now right.. I guess?

Cash also will be flagged.
The reason US govt set this rule is probably to safeguard people from gambling their money away.

pdt rule doesn't apply to cash account... also you can't rollover the same cash fast enough > 3x within 5-day period

Really? Correct me if I'm wrong but I thought it's counted as day trade as long as you buy and sell regardless of whether it's the same cash.

Let's say my cash account has $10,000 which is below the required $25,000.
In the same day, I perform the following transaction:
1) Buy 1 unit of Amazon at $3000
2) Sell 1 unit of Amazon at $3001
3) Buy 1 unit of Amazon at $2999
4) Sell 1 unit of Amazon at $3002
5) Buy 1 unit of Amazon at $2998
6) Sell 1 unit of Amazon at $3003

Considered PDT no?

I was thinking all in...with t+2 won't roll fast enough... I guess I was wrong you got me there... lol

your example mean left only $1003 for next 3 days

I read many places cash account no pdt rules...

Hi all sifus...

I am new to IB.

I have opened an account & tried my first funding in a small amount about SGD 300. I set my currency base to HKD.

Now, I tried to do my first conversion from SGD to USD because I plan to invest in the NYSE stock. When I try the conversion, this is the message I get:-

THERE IS INSUFFICIENT CASH IN YOUR ACCOUNT TO OBTAIN THE DESIRED POSITION.

I've checked and confirmed the value I convert was just about SGD 200, which is less than my SGD300. Anyone can advise on this issue?

Thanks.

Hi all sifus...

I am new to IB.

I have opened an account & tried my first funding in a small amount about SGD 300. I set my currency base to HKD.

Now, I tried to do my first conversion from SGD to USD because I plan to invest in the NYSE stock. When I try the conversion, this is the message I get:-

THERE IS INSUFFICIENT CASH IN YOUR ACCOUNT TO OBTAIN THE DESIRED POSITION.

I've checked and confirmed the value I convert was just about SGD 200, which is less than my SGD300. Anyone can advise on this issue?

Thanks.

Hi all sifus...

I am new to IB.

I have opened an account & tried my first funding in a small amount about SGD 300. I set my currency base to HKD.

Now, I tried to do my first conversion from SGD to USD because I plan to invest in the NYSE stock. When I try the conversion, this is the message I get:-

THERE IS INSUFFICIENT CASH IN YOUR ACCOUNT TO OBTAIN THE DESIRED POSITION.

I've checked and confirmed the value I convert was just about SGD 200, which is less than my SGD300. Anyone can advise on this issue?

Thanks.

for new users with IB, suggest u just use the app to do conversion.
super simple and straight forward. 

will this create a virtual position on FX like idealpro?

Strangely I tried again just now it was OK... I guess maybe because I changed the base currency yesterday to SGD from HKD & it needs 24 hours to activate...

Anyway, thank you for your advice all sifus:)

Wait so is there pdt for cash account ? Or does it not apply to IB?

pdt rule doesn't apply to cash account... also you can't rollover the same cash fast enough > 3x within 5-day period

Wait so is there pdt for cash account ? Or does it not apply to IB?

Should apply to cash account too based on the definition of PDT on their website. You can try and let us know.

One pure IB margin user told me his account got flagged even though it's margin. Another user said their account (I presume it's cash) got flagged so they are trying to look for alternatives like TradeZero to day trade since they don't have a lot.

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Wait so is there pdt for cash account ? Or does it not apply to IB?