So I know with TD Ameritrade if you have an account under $25k net worth you will have to pay fees if you do more than 3 day trades. Does anyone know what the fees are and if they are worth paying? Thanks!
So I know with TD Ameritrade if you have an account under $25k net worth you will have to pay fees if you do more than 3 day trades. Does anyone know what the fees are and if they are worth paying? Thanks!
It's not fees. You'll be flagged as a pattern day trader if you make more than 3 day trades in a 5 business day period and wont be able to make a day trade for 90 days. There are 2 common methods around it. What I'm doing is having 2 different accounts and switching back and forth between them so I don't miss out on too many plays. Or you can get a suretrader account, It's based in the Bahamas and isn't subject to the Pattern day trader rule. The down side is there customer service is such g
garbage. I've heard lots of people having trouble withdrawing money from the accounts with suretrader.
I am using 2 accounts as well.
@ImBatman I used suretrader in thr past. It's just tbr time it takes to receive it is slow
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