Scottrade Day Trading Restriction- Stock Market?


 Powered by Max Banner Ads 

Alright well I have a Margin account with Scottrade and recently violated the 3 day trade in a 5 day period rule. This was my first offense and they said I am going to be restricted from Margin for 90 days. I need this margin, so what are my options. Should I open another account with Scottrade? Is that allowed? Or should I transfer to another broker? Any suggestions?

 Mail this post
Share and Enjoy:
  • Print
  • Digg
  • Sphinn
  • del.icio.us
  • Facebook
  • Mixx
  • Google Bookmarks
  • Blogplay
StumbleUpon It!

Technorati Tags: , , , , , ,

Blog Traffic Exchange Related Posts
  • will the economy someday be run entirely by computers that started out in stock trading? We are now inventing software that can predict the best stocks to invest in short or long term. Someday they may also be able to analyze news reports for relevant keywords or phrases that may affect stock prices. The idea of an auto-trading computer could make these more efficient. Even......
  • Stock market Queries? I have been trading using stock simulation software for a while to learn about the stock market. I have few questions regarding the real stock market. I have total of 5 questions, i am posting 2 here, rest in a different thread. Big thanks in advance for the help. Please......
  • Scottrade Day Trading Restriction- Stock Market? Alright well I have a Margin account with Scottrade and recently violated the 3 day trade in a 5 day period rule. This was my first offense and they said I am going to be restricted from Margin for 90 days. I need this margin, so what are my options.......
  • What are some good Penny Stocks to invest in? What are some good penny stocks ({content}.2 to ) to invest in this harsh economic times? I'm more looking towards Green Stocks that are devoted towards Clean Energy, and stocks that are like to benefit from the Stimulus Package. I know CAT will benefit, but its just to expensive for......
  • Any good stock market analyst software? Is there any stock market software that can pull up any info on a stock, all news on a stock, and historic prices? For example, if wanted to want what IBM sold for on December 2, 2009 at 10:00 A.M. and what the price was at the end of the......
  • Day trading SPY options: How can I do this better? (Long question)? (Note: I have real money experience with options going back to 2000, first covered calls in my IRA and then long calls in my cash account though no day trading experience with real money. I have the 25K to park in an account to satisfy the pattern day trader rules......
  • We're a co-op author group studying how to market our books. People applying lately are way off topic. Help! We get requests that say they were recommended, but want info on canning food, want good pictures, need assignments for their next project, just bought ninja trading software, etc. We have built a large presence on the net with our name and don't want to change it. We suspect someone......
Related Websites
  • best way to get your ex boyfriend back!? My boyfriend and I just broke up! he dumped me. we broke up because he thought I cheated on him, which I didn't. we cleared that up though. but I got assaulted and he got harassed. He and I had forever planned out. He is really hurt by all of......
  • Lotto numbers all hit from last 4 draws On 7 January 2009, the Australian Lotto numbers all hit from the last 4 draws! That is, all winning numbers came from those of the previous 4 draws, a rare event - see draws below. Lotto Results Australia To optimize lotto games for such an event would give tremendous advantage in......
  • Monday Lotto AU 1million Tonight's draw is quite difficult to predict, but may be worth a few dollars. All numbers will probably be derived from the last 10 draws. 2 numbers out of the following 6 may feature: 3 8 23 24 27 42 12 games played in-house, with "Double up" feature, Cost: $6.05......
  • How to handle a boyfriends internet dating profile? Found out that my "boyfriend" of 3 1/2 years belonged to a popular internet dating site and wrote 2 females. I questioned him about it and he deined the whole thing. I have the proof that he belonged to the service, just not the e-mails he sent. He tells me......
  • Signs of cheating or escape? Our Relationship: It's a unique one. I'm in the military stationed overseas and shes back in our hometown. We were old friends from high school who found each other again early 08. Eveything came togther real nicely and we got married in the fall. The whole time we've been "dating"......
  • There's no such thing as "the stock market" How many times have you heard something like, "If you'd invested just $10,000 in the stock market 20 years ago and let it grow, you'd have eleventy-zillion dollars today." (Ok, so that's a slight exaggeration, but you get my point.) Statements like that are usually used as hypothetical examples that......
  • Hi!Funny or no? 24 Fun Things To Do In An Elevator... 1. Grimace painfully while smacking your forehead and muttering: "Shut up, dammit, all of you just shut UP!" 2. Whistle the first seven notes of "It's a Small World" incessantly. 3. Crack open your briefcase or purse, and while peering inside ask:......

2 Responses to “Scottrade Day Trading Restriction- Stock Market?”

  • Al in NC says:

    If you transfer to another broker you will still be subject to the same rules.

    http://www.sec.gov/answers/daytrading.htm

  • msc says:

    Your safest bet would be to open an account with another broker, liquidate your Scotttrade account, withdraw the cash, and then send it to the other broker. That way the two brokers won’t know about each other. There might be a better way, but I’m pretty sure this would work if nothing else.

Leave a Reply

Security Code:

Stock Trading Resources
Highly Recommended: