Is SureTrader legit?

Is SureTrader legit?

SureTrader is a Bahamas-based broker/dealer regulated by the Securities Commission of the Bahamas. Because of this, SureTrader continues to rake in traders who are below the $25,000 PDT level, so those with small amounts can trade as much as they want.

Can US citizens use SureTrader?

Citizens? U.S. residents can open an account, but to make it possible to open an account, the traders have to provide additional paperwork to SureTrader. A Funded Trader Program might be a good alternative.

Is SureTrader still open?

SureTrader quietly shut down its business in November 2019, informing clients they could either transfer securities to F1Trade or liquidate their positions and withdraw funds. The reason SureTrader gave for its demise was a change in the terms with its clearing broker.

Can you day trade with SureTrader?

SureTrader allows US-based traders to day trade with less than $25,000 in their account, thus avoiding the PDT Rule (the Pattern Day Trade Rule). With more than 10,000 stocks, SureTrader has one of the longest stock lists of any online broker.

Does CMEG have commission?

No commissions on stocks in a standard account. High leverage for accounts above $2,500. Americans can open accounts (if they know what they’re doing).

How can you avoid the PDT rule?

Using a cash account is probably the easiest way to avoiding the PDT rule. The only set back with a cash account is you can only use settled funds. This means when you buy or sell a stock in a cash account, the money takes 2 days plus the trade (T + 2) date to settle before you can use them again.

Why do I need 25K to day trade?

Why can’t I leave my $25,000 in my bank? The money must be in the brokerage account because that is where the trading and risk is occurring. These funds are required to support the risks associated with day-trading activities.