Creating trading account seems to be a very easy task. However it is not true in my case. Since I am international it is harder for me to create trading account with the broker that is located in the United States, such as: Etrade, Ameritrade, Scottrade etc.There are couple of trading platforms and brokers out there that are worth a look. However if you will be creating an account that will be relatively small you need to look out for commissions, otherwise they will eat up your trading account. Also, many people do not know that there are SEC regulations agains small accounts such as the ones that are less than $25,000. That rule called PDT rule and has a lot of confusion with in the community of beginner traders.
PDT rule, or as it is also known day trader rule prohibits small accounts, that is to say accounts that have less than $25,000, from making more than three trades per five working days (a week). If you do more than three trades per week your account is subject to being blocked for a month and there is no way that you can make trades during that time. The solution is that to open multiple US accounts, or open an offshore account. For me it is easier to open an offshore account, and I did that with SureTrader. With them I will be able to freely trade more than three times per week. Even though their routing fees and commissions are lower comparing to others $4.95/trade, there is also conflict of interests. What it means is that when you will use market orders they will use the prices to their advantage in order to compensate on such low commission. From that knowledge using their platform Das Trader Pro I will be trading scared, which is a good thing! Trade scared! Otherwise I am looking forward to funding my account, setting up the platform and making my first real trade.
Whether or not this broker will be right for you I leave that for your decision. My goal it to give you information which is valid and credible.
#tradethetruth
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