Broker w/out Day Trading Pattern lockout?

I’m surprised that after using Daves goofis atm with interactivebrokers.com that I was shut out of all trades my first day. Does anyone know of a “good” broker that will work without this pattern restriction for an account of less than 10K?



Thanks,

John

For 10k account, it is hard to daytrade.

In the US there shouldn’t be any broker like that. It is the law that you have to have 25K on your account otherwise you can’t trade more then 3 times in 5 consecutive days without being a PDT.

On the other hand, you can trade futures as many times as you wish with as little as 3K, this rule doesn’t apply to them. (but it applies to options)

Since this law is obviously not good for the comission based brokerages, they try to go around it. I heard from someone that Ameritrade let people daytrade even if their account is not up to 25K. Looks like they are flexible with the law. Specially now that their trading numbers were down 12% in the last quarter…

Thanks for the Tip - I’ll check it out. I also heard that if I opened up more than one account (easy to do) I could double or triple my limit.