Hello there:
I was wondering about an issue concerning off shore brokers… For algo trading of US listed stocks.
Which are the best ones for this and why?? Yes, It is to avoid the PDT rule…
Hi Ghery,
As far as offshore brokers go, we unfortunately do not have any recommendations.
Also, I want to highlight the fact that since most of the offshore brokers are not regulated by FINRA or the SEC, there's always a great deal of risk involved, especially concerning the safety of your funds.
Hence, I recommend you comply with all the regulations that are imposed in your locale.
And that you stick to using trusted and regulated brokers for the purpose of trading in financial markets.
I hope this clarifies.
Thanks for your answer, i really appreciate it…
But when I said off shore brokers, I meant that they are not imposing the pdt rule (only that)… I am sure that there are other regulation outside of the US… for other brokers…
Or perhaps I should have asked if there are brokers that are not under the pdt rule… that allow to trade with algoritms…?
Hello Ghery,
As per SEC, all traders and brokers must adhere to the PDT (pattern day trader) rule by FINRA (Financial Industry Regulatory Authority). PDT rule is designed to save the brokers and the traders from risks associated with intraday trading.
So, it's recommended to always use brokers that adhere to FINRA's PDT rule. For this reason, we are not sharing or endorsing any broker that doesn't follow the PDT rule in this community forum.
Hope this helps!