Want to Learn More ❓❓ Get info on My Strategy and Courses here: https://www.warriortrading.com/trading-courses/📈
📉 Chapters 📈
00:00 Intro
00:50 Charles Schwab
02:20 CMEG
03:52 Tradezero
06:38 Other short seller brokers
07:17 Outro
In this video Ross breaks down the best brokers for international day traders. He'll talk about the pros and the cons and give you his opinion on which one he prefers. Enjoy!
Before we continue...👀
💰Remember, day trading is risky and most traders lose money. You should never trade with money you can’t afford to lose. Prove profitability in a simulator before trading with real money.
❗❗My results are not typical. We do not track the typical results of past or current customers. As a provider of trading tools and educational courses, we do not have access to the personal trading accounts or brokerage statements of our customers. As a result, we have no reason to believe our customers perform better or worse than traders as a whole.
❌Do not mirror trade me, or anyone else. Mirror trading is extremely risky https://www.warriortrading.com/why-mirror-trading-is-a-bad-idea/.
🍏 All of the content on our channel is for educational purposes only. No data, content, or information provided by Warrior Trading, the Site, or the other products and services of Warrior Trading, is intended, and shall not constitute or be construed as, advice or any recommendation to buy, sell or hold a particular security or pursue any particular investment strategy.
✔️If you don’t agree with those terms and our full disclaimer (https://www.warriortrading.com/disclaimer), you should not continue watching our videos.
Still with me?
Now let’s dig into some helpful information …
What’s my story? ✏️ You can read it here: https://www.warriortrading.com/ross-cameron/
And check out my broker statements here 📝 https://www.warriortrading.com/ross-camerons-verified-day-trading-earnings/
Our website is filled with free info 🔎 Start with this guide, no opt-in required: https://www.warriortrading.com/day-trading/
Learn about my stock selection process, how I determine entries/exits, my strategy, and more in my free class 💻 Register here: https://www.warriortrading.com/free-day-trading-class/
Wondering what I think the All Star Day Traders out there have in common? 🏆 Read this blog I wrote https://www.warriortrading.com/all-star-traders/
#daytrading #warriortrading #rosscameron #stocks #learntotrade
Warrior Trading // Ross Cameron // Day Trade Warrior
📉 Chapters 📈
00:00 Intro
00:50 Charles Schwab
02:20 CMEG
03:52 Tradezero
06:38 Other short seller brokers
07:17 Outro
In this video Ross breaks down the best brokers for international day traders. He'll talk about the pros and the cons and give you his opinion on which one he prefers. Enjoy!
Before we continue...👀
💰Remember, day trading is risky and most traders lose money. You should never trade with money you can’t afford to lose. Prove profitability in a simulator before trading with real money.
❗❗My results are not typical. We do not track the typical results of past or current customers. As a provider of trading tools and educational courses, we do not have access to the personal trading accounts or brokerage statements of our customers. As a result, we have no reason to believe our customers perform better or worse than traders as a whole.
❌Do not mirror trade me, or anyone else. Mirror trading is extremely risky https://www.warriortrading.com/why-mirror-trading-is-a-bad-idea/.
🍏 All of the content on our channel is for educational purposes only. No data, content, or information provided by Warrior Trading, the Site, or the other products and services of Warrior Trading, is intended, and shall not constitute or be construed as, advice or any recommendation to buy, sell or hold a particular security or pursue any particular investment strategy.
✔️If you don’t agree with those terms and our full disclaimer (https://www.warriortrading.com/disclaimer), you should not continue watching our videos.
Still with me?
Now let’s dig into some helpful information …
What’s my story? ✏️ You can read it here: https://www.warriortrading.com/ross-cameron/
And check out my broker statements here 📝 https://www.warriortrading.com/ross-camerons-verified-day-trading-earnings/
Our website is filled with free info 🔎 Start with this guide, no opt-in required: https://www.warriortrading.com/day-trading/
Learn about my stock selection process, how I determine entries/exits, my strategy, and more in my free class 💻 Register here: https://www.warriortrading.com/free-day-trading-class/
Wondering what I think the All Star Day Traders out there have in common? 🏆 Read this blog I wrote https://www.warriortrading.com/all-star-traders/
#daytrading #warriortrading #rosscameron #stocks #learntotrade
Warrior Trading // Ross Cameron // Day Trade Warrior
I get Traders asking me all the time Ross I'm an international Trader I'm not a US resident What is the best broker for me to use for day trading the US equities Market All right. so my job is always to help you guys find the best tools for you. I'm going to share with you what I Think are the best brokers for international Traders Reminder: I Don't have any affiliate relationship with any of these Brokers So sign up if you want. Don't sign up if you don't Doesn't make a difference to me.
I'm just sharing with you the tools that I would use and I'm going to break them down in a little bit more detail. The first question is are you long bias or short bias? The next question is do you have more than $25,000 depending on the answers to these questions? We're going to be talking about the following: Brokers CME Charles Schwab Trade zero Interactive brokers. Let's get into it. So we're going to go through this list.
broker by broker. The first one is Charles Schwab Now as you may know, they recently acquired TD Amit Trade. So all TD trade customers have moved and are in the process of moving in underneath the Charles Schwab umbrella. But the nice thing is that Charles Schwab has said they'll continue to allow traders to use the Thinker swim platform which was owned by TDM Trade.
So at this point traders who want to use that thinker swim platform are going to have to sign up to Charles Schwab You can't sign up to TDM Trade anymore, so Charles Schwab does accept International traders. In addition, of course, to us: Traders they are a free commission broker which is fantastic unless you're trading options that you do pay for option pricing, but for just regular stock, it's free commission. There are no platform fees, even for the real-time data. They just absorb the cost as at least as of right now, which makes it a really competitive offering.
Honestly, they're they're They're really fantastic. But there's one problem: they're a US broker dealer, which means they enforce the $25,000 PDT minimum and and I Guess the second issue is that they don't cater really at all to short sellers. They don't have a great inventory of shares available to borrow. so for a long bias International Trader with an account above $255,000 Charles Schwab using the Thinker Swim platform is great.
Now for the international Trader who is below $225,000 Charles Schwab's not going to work. So that brings us to our next broker on the list and that is CME Capital Markets Elite group located in the Cayman Islands. They have a minimum size of $500 They have monthly platform fees, so more expensive. They also charge commissions.
The commission is $22.99 per execution with a maximum per trade of $112.99 That's definitely a lot more expensive than Charles Schwab and I guess that's what you pay for being able to trade below the PDT level now. CME is nice and a lot of Traders really do like them, But it's worth noting that they do restrict leverage. so with Charles Schwab you get four times leverage. You set up the account. with $25,000 you can buy $100,000 worth of stock. Cmeg being an international broker, they allow six times leverage. They don't enforce the PDT rule, but they restrict margin and and they use to leverage on a lot of stocks so you might see a stock that you like and then you can't use any of your leverage. You can only use your cash balance.
So realistically because of the platform fees, the commissions, and the fact that you can't always trade on Leverage even though the account minimum is 500, you're probably still going to be better off with $2 or $3,000 in that account. Cmeg has a better inventory of shares available to borrow than uh Charles Schwab on The Thinker swim platform. But they they don't really cater to short sellers, so it may not be the best platform for short sellers, but it's also not bad for international short sellers who are below $25,000 The real broker that you want to look at is Trade Zero. so the third broker we're going to talk about is trade Zero.
They're located in the Bahamas and they are a broker that really do cater both to International Traders and to short sellers. They have a great inventory of shares that you can borrow, which is fantastic. Their borrowing fees are competitive. it's not always cheap, but it's competitive and they do not enforce the $25,000 PDT minimum on an international.
Trader They have a sister company in the US that is for Traders above 25,000 and then they have the international branch of their company that is for international traders that are under 25,000. So Trade Zero is a popular broker for short Sellers And when it comes to fees and commissions, if you use limit orders, you'll have no fees and commissions, which is really nice. So it's free trading if you use not just a limit order, but if it's a non-marketable order. So that means if you want to buy a stock, you buy at the bid and wait for someone to sell you shares, or when you sell, you sell on the ask and wait for someone to buy your shares.
When you trade like that, you're adding liquidity to the market. Trade Zero receives a rebate for that and is in exchange able to give you free commissions, which is nice. So Trade Zero is a popular platform. I Have heard some Traders say they don't like the actual interface of the trading software that Trade Zero uses compared with CME or Charles Schwab using the Thinker swim platform, but you can always check out their website and do a demo of it and see whether or not it's a good for you.
Now the fourth broker on the list is Interactive Brokers. Interactive Brokers is one of the largest Brokers. in the world they cater to International Traders They also let you trade international markets. Some of these Brokers only let you trade the US market which is great because of course that's what I'm trading and that's what a lot of you will be trading. but if you want to trade perhaps a different Market in Europe or in Asia you actually could do that with Interactive Brokers Interactive Brokers. Being a US broker dealer, you're going to deal with the $25,000 minimum four times leverage. but they also have pretty good availability of shares to borrow. So and a lot of people really like their platform and they're a free commission broker.
So there are a lot of upsides to interactive brokers. but if I was going to line them up next to Charles Schwab both of them requiring a $25,000 minimum, I would say Charles Schwab is better I Like their platform better and the execution speed is pretty good. but if you were sort of, you know, trying to do the coin toss, Interactive Brokers has better availability of shares to borrow, so they're going to be on the list of better Brokers for short sellers. Other Brokers that are really popular among short sellers, but that do enforce the $25,000 minimum include Centerpoint Cobra and Guardian those are popular Brokers You'd have to look at each of their websites to see which International countries they will accept clients from.
Um, they're not as big nearly, not nearly as big as Charles Schwab or inter Brokers But uh, they're they're more Boutique Brokers that really cater to short sellers. What? I Found in my experience is that most International Traders end up with either trade zero or CME because both of them allow you to trade the US market with less than the $25,000 minimum.
Hi, Ross! Thank you for the information. Are you sure about Charles Schwab? What i know is that for EU accounts they only let cash accounts to be open, you can not open a margin account.
interactive brokers market data subscription fee is insane high , right ?
So in London Charles Schwab UK has recently stopped enforcing the PDT rule. If I'm a UK resident and can now open and trade Charles Schwab UK with less than $25K, I'm thinking thats a very good thing. What am I missing compared with the same in the USA?
Bi ross, we didnt you kist your lightning speed ?
Hi Ross, I'm a Canadian, I would like to know, what do you think about Questrade ? Thank you for sharing your experience, I really appreciate it
Hey Ross, can you talk about tax for international day traders in the US. Also do you think thinkorswim is a good broker for international residents in the US?
Question on Lightspeed commission. It looks like for stock the cost is $0.00225 per share. So for 10,000 share purchase and sale it would be $45? So if I took 3 trades a day at 10,000 shares each, that would be $35,100 for the year? That is a lot of commission? Even if you made $150k trading which is great for a day trader, you You still gave the broker $35k which is 23.4% of your gross earnings so you net just under $115k. 🤔
Hi. I would like to see why Lightspeed isn't on the list? From what i see it is possible for international traders to use their platform even though you must have 25000+
Ross, help me understand what you said about TD Ameritrade. I am in Brazil, they allow people to use TD Ameritrade here, but I would like to know if they require 25K from those who have an account with them anywhere in the world or just $25K for those who live in the United States? Thanks in advance
can you have a cash account in charles schwab and is it possible to trade there with a demo account
$25K minimum is only if you want a margin account.
I had a question for anyone that might know. As a US resident, can you user Interactive Brokers that's located in another country, while trading US stocks and get by the PDT rule?
I really wanted to give CMEG a try, but between the platform fee, the $2.99 per execution, $12.99 max I was going to give it a shot. And then I found out they take 3.5% out of your deposit, I think I made the smart decision to stay away even with an 8K account. I've also been reading on reddit they've been doing some shady stuff in 2023. It's tough, because you use up your 3 day trades and see these big runners and you can only sit on the sidelines and watch.
can you open a tradezero international account as a u.s citizen
Using Charles Schwab account (transition from TD Ameritrade)
They havnt activated tos for me
Hi Ross, regarding the PDT rule, is opening a position and then scaling out but not closing it still cosidered a day trade?
Hey Ross, thank you for that straight forward video. Did you ever tried Speedtrader International? They got everything speedtrader got but only require a 5k minimum deposit and you do not have PDT applied
Come on Ross ! Would love to hear your commentary on TPST TODAY going up almost 4,000%! It pulled my account back on its feet really well, hope it did for everyone else also!
Hi Ross, this morning I just took a trade after TPSI halted up for the break of 2.5 and it instantly flushed down to 2.37. I lost a week a progress and may I ask would you get in that trade and if you wouldn't what would be the reason? Now as I looked back at that chart I did draw a trend line at around 2.6 but I thought it could break easily
Ross, I would love to know what you did after trading $TPST in the morning. Did you get back in?
Eagerly awaiting your recap or anatomy of $TPST with 30+ halts and over 2,900% increase. Impossible to trade? Really like to get your comments. I noticed that some halts were only a 3% change in price. Why does that happen? Another one was only 7% and yet Nasdaq halts. It seems that they are manipulating the stock with soo many halts? I understand the need, but after 5 or 6 halts, let the market do it's thing. Investors and trades had their warnings on the 5 or 6 halts, but then let the market be free? Any thoughts? Otherwise, the Nasdaq becomes the dictator and decides when you can trade the stock? Just doesn't seem like a free and open market after 30 plus halts in one trading session. That could just be me, but I'd like to see the market free and open after a few warnings from the Nasdaq…just saying.
hi Ross, can you do another vid for trading platforms for internationals. Especially what can/should we use together with ibkr or tradezero.
Hi Ross, thank you for this valuable information, by any chance do you know anything about ninja trader broker?
does anyone have a recommendation specifically for europeans?
I use interactive broker. The platform is meh… In switzerland, commissions are mot high for the US market.
charles schwab the company is not doing great… would not touch it.
The Camera editing, rapid cuts from angle to angle and pop up noises make the video very annoying to watch……your new style feels like a casino game and not an informational video.
Thank you for sharing. Financial education is crucial today, and a buy-and-hold strategy may not be effective. Jack F Thomas program taught me a lot about trading and improved my financial situation. Using trade signals generates competitive returns and stability. Time in the market vs. timing the market helps investors stay calm. Since I started, I've been making more money and seeing positive results.
I dont get the outcome of this video tbh.
Ive used IBKR and Schwab, and have to say IBKR comes out on top all over Schwab. Schwab is trash compared to IBKR, they have higher fees, they are slower, they arent international and there platform is constantly down.
Schwab famously dont allow a number of south america, europe and asia countries. For example, in europe they only allow german and ireland clients, in asia they only allow singapore and hong kong. IBKR allows every country except countries with blocks on them, like russia, some middle-east, china etc.
One of IBKRs top features is Direct Market Access. If you pay for IBKR pro, your orders go straight to the exchange, none of the middle man routing BS which every other broker does, no other brokers i know of gives the user DMA unless they are an instututional trader. Darkpools are also included, name a single broker that lets you trade darkpools, i mean actually trade on a darkpool, not your order might get routed and filled on a darkpool without your knowledge.
also the amount of markets you can access and the tools for those markets are great. Just recently I put about 50k into bonds, ive also been looking into putting some money into a managed funds, been looking at some blackrock and MAN portfolios. And i can do all this on the same platform, dont need a different account, dont need to access a different portal.
When you can switch between trading Stocks, futures, physical commodities, managed funds, bonds (corperate, governement and metropolitan), forex, cda and even crypto on the same platform with minimal restrictions.
IBKR is algo friendly and let you download historical market data, they have low interest fees on shorts and margin. IBKR has my heart.
If i were you, i'd replace Schwab with eTrade Pro in this video, eTrade is alot more international friendly then schwab is, and compareble with IBKR on features.
Thanks, Ross, another helpful video! All I want to add is that if you want a free trade with TradeZero you need to buy more than 200 share and if this execut 100+100 you need to pay commission and you have no control over this so I bearley have any free trade sadly but still lot cheaper then CMEG and tradezero platform is DAS, not a full version but still a good platform. Thx
No PDT rule on Interactive Brokers in Canada. I trade a $10K account with no issues.
Alaric Securities is a Lightspeed partner, no PDT rule but no US customers.