umbrella account

[jim bin 10]

beside worldwidetradingcapita, anyother broker has that ?

[brownsfan019 17]

Please clarify what you mean by umbrella account.

[Reaver 10]

Yes I haven't the slightest idea what you referring to

[nickm001 10]

IB has it... It is called financial adviser account. You can pull together IRA, ROTH and CASH accounts under one control... and trade them just as if they are one account. Trades are automatically split between accounts based on pre-defined % or ratio. You would trade thru master account, that sits like umbrella over all sub-accounts. pretty neath feature.

[jim bin 10]

to day trade required $25k to start with ,also required to maintain this amount.

an umbrella account is sub-contract under a master account,so people can start day trade with less than $25k???

[Soultrader 12]

to day trade required $25k to start with ,also required to maintain this amount.

an umbrella account is sub-contract under a master account,so people can start day trade with less than $25k???

 

Use offshore brokers. Thats how I started day trading Nasdaq stocks with under $25k my first 6 months trading. I eventually moved to TS since their customer support sucked big time.

[nickm001 10]

I don't think it has anything to do with 25K restrictions. I think restriction only applies to equity markets, not futures. Here is the link to rules

http://www.interactivebrokers.com/en/trading/marginRequirements/patternDayTraders.php

 

Combine accounts give a convenience to spread trade over several accounts. instead of setting 3 trades in each account ( 3x open trade + 3x to close it), you just put 1 trade ( 3x size and it is automatically divided between accounts).

[brownsfan019 17]

In futures many brokers refer to this as a block account. I use it daily for my accounts. No need to try to place trades in multiple accounts.

 

If this interests you for futures, Open ECry actually has a really, really nice block account structure. You can set everything up yourself and make changes easily. Right now, while at Mirus (need to get funds moved!) I have to email them whenever I want to make changes and then watch the statements closely to make sure it was allocated properly. And until I demo'd OEC's block allocation software, I just assumed they were all like that as that's what I did when I was trading @ Alaron as well.

[jim bin 10]

thanks , this is for my a friend who want to do day trade Nasdaq though

[jim bin 10]

someone just told me the 25k rule doesn't apply to canadian, don't know if it is true or not