How to open an account:
Thank you for your interest in TheTradePros. To open up an account, please select the direct access platform you would like to use from the ‘Open an Account’ drop down. After the account opening process has been completed, TheTradePros will provide you with an account number and funding instructions. Your live trading platform will be activated once your account has been funded.
With everything else the same, the difference is our SERVICE!
Things to keep in mind:
RealTick Accounts: $30,000
REDIPlus Accounts: (Individual) $1,000,000 (Institutional) $5,000,000
Pattern Day Trader (PDT) Rule
A Pattern Day Trader (PDT) is defined by FINRA (formerly NASD) as one who actively trades. A trader is coded as a PDT once he/she executes more than 3 intraday round trips in a rolling, 5 business day period, based on the current trade date. A Non-Pattern Day Trader (NPDT) is one who is not considered/coded as a PDT.
Whether you are coded as a PDT or NPDT will effect your buying power. If a trader is coded as a PDT, he/she must have a equity balance of $25,000 or greater in order to take advantage of 4:1 intraday margin leverage. If a PDT has a equity balance less than $25,000, then the intraday buying power is limited to one times the cash available in the account on an aggregate basis.