Margin Brokers

[silverxx12]

Hi all,

Need serious help here

Could anyone please tell me where i can find brokers who offer margin accounts with initial margin requirements of 10-20% on US equities

Hope to hear from you soon

[michaelm]

there are many firms that can offer that margin intraday (higher overnight), provided you are designated as a professional trader, which requires series 7 licensing. otherwise, all retail traders are subject to Reg T requirement (50%).

Here's a link to what NASD says.

[silverxx12]

Many thanks for your reply. I am registered with the FSA which is the UK regulator and I presume that this enough to classify me as a professional. In this case, ie being classified as a professional, which firms can you recommend that provide initial margin requirements of 10-15%?? Also, would the minimum account size still be $25,000 if classified as a professional or will it be around $5,000.

Lastly, I looked at the link you posted but couldn't find any mention about the Series 7 exemption. Would you know where that rule is in the rule book?

Many thanks for all your help.

I really appreciate your help

[michaelm]

hmmm...don't know about UK. I believe the $25k USD is standard for anyone fitting the day trade pattern as defined by the NASD to daytrade US stocks. To daytrade other exchange's stocks...I don't know.
My suggestion would be to contact Interactive Brokers , as they are a global broker with universal accounts.

[krasio]

Doesn't matter the nationality about day trade pattern. It is the same for anyone around the globe.

krasio