PDT rule
Hi, does the pattern day trading rule(25k)apply to the UK, so brokers based and regulated by the UK's authority?
beachlifeuk: Hi, does the pattern day trading rule(25k)apply to the UK, so brokers based and regulated by the UK's authority?
The pattern day trader rule
The pattern day trader rule is a regulation set by the Financial Industry Regulatory Authority (FINRA), a trading governing body in the US, ‘to discourage people from trading excessively’. The rule requires traders to have at least $25,000 in their margin trading accounts on any given day, in order to reduce their risk.
Does the pattern day trader rule apply in the UK?
The short answer is no – the pattern day trader rule does not apply in the UK. If your trading broker is not regulated by FINRA – i.e. it is regulated by an authority outside of the US – you will not be bound by the pattern day trader rule.
Fernando Carreiro #:
PS! Learn to use Google!
Thanks for the swift reply. Yeah, i saw what you pasted on the IG website but also saw another website with something conflicting saying you do need a $25k(£30k) account still in the UK, hence me asking in here. Looking further it appears to just be a rule for America, i think haha.
PS! Learn to use Google!
beachlifeuk #: Thanks for the swift reply. Yeah, i saw what you pasted on the IG website but also saw another website with something conflicting saying you do need a $25k(£30k) account still in the UK, hence me asking in here. Looking further it appears to just be a rule for America, i think haha.
Only if you are using an USA based broker, not if using a broker outside of the US.
