My name is Dan, based in the UK and I'm new to the BBT community,
I'm currently in the planning stages of day trading and looking at brokers. Through research I think a good fit will be to go with CMEG as I will be starting under the $25k PDT ruling and I want to use DAS. However another aspect that will affect my setup is currency exchange. I know you need to spend money, especially in setup however looking at some of the exchange rates from £s to $s out there it could potentially cost you 4.5%+ of your initial setup if you have to send money with HSBC or other high street banks
So I was just wondering what the general consensus was to ensure that this doesn't eat into my P/L before I even start trading1? I read the CMEG FAQs and it says "we only accept wires that come directly from your personal account. We DO NOT accept third party or credit card payments". Does that suggest that it needs to come from a personal bank account from a high street bank or do people regularly use things like TrasferWise, Western Union etc. without any issues?
Any advice from your experiences are appreciated,