If you want to day trade but don’t have $25,000 to deposit, we have a solution for you. Say hello to Capital Markets Elite Group (CMEG).
Based in Trinidad and Tobago, this broker doesn’t have any pattern-day trading requirements.
To get started, you just need a $500 deposit. Even better, the brokerage firm offers 4:1 day-trading leverage for stocks priced at $4 and higher. For accounts with assets of at least $2,500, CMEG offers a very low 16% maintenance requirement on intraday positions. This number reverts to 50% overnight, and interest is charged on such positions.
Besides its excellent margin numbers for small accounts, CMEG also provides access to DAS Trader Pro. This software platform is not available at Lightspeed.
- Hot keys
- Almost 20 routes
- Order execution in milliseconds
- Level II quotes
Although CMEG does charge for DAS Trader Pro, rebates are available for active traders.
CMEG offers two account types: active and standard. DAS Trader Pro is only available in an active account. Standard accounts aren’t left out in the cold, though, as they can use Traders Elite Terminal. This platform is the same software that Interactive Brokers uses.
The one downside of Capital Markets Elite Group is that it only offers trading in equities. Although it says it has plans for options, forex, CFDs, and futures, it hasn’t delivered them yet.