In this CMEG review, we will talk directly to your day and swing traders looking for brokers with no PDT rule! CMEG is an offshore broker with several different platform choices, the best of which is a customized version of DAS trader. Also, the commissions are comparable to brokers like LightSpeed, and the speed of executions is good enough to be taken seriously.
We wanted to make this review for our members. Hence, they are aware of the alternative brokers available to traders who are not just looking for a way around the PDT rule but also want fast executions and a powerful trading platform with a clean and simple user interface.
Table of Contents
- CMEG Review: Brokers With No PDT Rule
- Margin
- Lightening Fast Executions
- CMEG Fees and Pricing Review
- CMEG Account Fees (A.)
- CMEG Account Management Review
- CMEG Account Management (A.)
- Final Thoughts: CMEG Review – Brokers With No PDT Rule
- CMEG Sign Up
- Frequently Asked Questions
CMEG Review: Brokers With No PDT Rule
CMEG is located offshore, which means they’re not under the restriction of the PDT rule. The rule that defines a “pattern day trader” is any customer who executes four or more “day trades” within five business days, provided that the number of day trades represents more than six percent of the person’s total trades in the margin account for that same five business day period.
CMEG is Capital Elite Markets Group. They’re registered with the IRS and insured by Lloyds of London, which has been in business for over 330 years. When asking yourself, “Should I stick my money here and trade? Is it safe??”
We are telling you yes, it is! CMEG is a lesser-known entity and a hidden gem in the trading world. Many people may confuse them with CME Group – one of the world’s largest trading exchanges. Don’t confuse the two! A lot of people get confused. The logo is below, so you’ll know.
Capital Elite Markets Group has existed since 2013 and is much more than a “trading platform.” However, in fairness, we haven’t tried its other offerings, such as portfolio management or banking. We’ve only used them for trading. Chances are, that’s all you want them for.
You may have come here strictly because you wanted to find a list of no PDT brokers. Well, here at the Bullish Bears, we have tested CMEG and found it a great choice for us and our members. Below, we will cover some of the facts of CMEG.
Margin
A nice feature is that they offer $2.95 trades. This is cheap when compared to the competition! To open your account, you’ll need at least $500 minimum for a 4:1 margin; anything above $2500 gets you a 6:1 margin. This doesn’t mean you should trade volatile stocks on margin with a small account unless you are experienced and aware of the risks! If you are starting the stock market, please take our free coursesfirst.
If you are an active trader looking to take this very seriously, you will select active trader during sign-up. This gives you access to a customized version of DAS Trader, which they have branded Traders Elite Pro.
Their software fee/Nasdaq data fee is 150.00 a month. You may find this a little expensive. While it’s more expensive than TD Ameritrade, if you are trading actively and looking for the fastest execution speeds, this is a small price. Also, you can paper trade with this platform, which you know we highly recommend!
COURSE |  |  |  |
|---|---|---|---|
| DESCRIPTION | Learn how to read penny stock charts, premarket preparation, target buy and sell zones, scan for stocks to trade, and get ready for live day trading action | Learn how to buy and sell options, assignment options, implement vertical spreads, and the most popular strategies, and prepare for live options trading | How to read futures charts, margin requirements, learn the COT report, indicators, and the most popular trading strategies, and prepare for live futures trading |
| INCLUDED | Daily watch lists • Trade rooms • Trading scanners • Discord • Live streaming Day Trading > | Daily watch lists • Trade rooms • Options scanners • Discord • Live streaming Options > | Futures target levels • Trade rooms • Real time teaching • Discord • Live streaming Futures > |
Lightening Fast Executions
CMEG is fast with its trade executions. You are also getting editable hotkeys, which are extremely important when trading anything, not just volatile stocks.
You’re asking for trouble if you try to day trade penny stocks without hotkeys or astreamdeck. We’ve found that when using Traders Elite Pro, our orders fill more quickly than those with some of the other leading trade platforms. Speed is super important when I day trade. Sometimes, I’m only in a setup for a few seconds or a few minutes.
Opening the account takes 5-7 days to get your application approved, account set up, and funded. It would be best to have a mainstream big bank supporting overseas wires.
We discovered that one of our member’s local credit unions would not send wires internationally. When you send your wire, it takes 3-5 days to clear, and as far as withdrawing money, there are no problems other than it takes a couple of days to clear.
Also, there is no limit for monthly withdrawals from your account! So you can move your money around freely.
CMEG Fees and Pricing Review
Below is a list of questions regarding CMEG pricing and account requirements.
The Active Trading Account is subscription-based; it includes a monthly subscription of $115 for software access and $35 for market data. These charges are not pro-rated.
Your account will be billed from the activation date and charged on the last day of the calendar month. Fees are not pro-rated.
You can request to suspend your account; suspended accounts do not have access to the platform and do not incur software and market data fees. However, inactivity fees will still apply.
Available leverage is based on the account balance at the start of the trading day:
- $500 or less 1:1
- $500 to $2499 4:1
- $2500 and over 6:1
- Overnight margin is 2:1 (not applicable to accounts under $500)
The minimum amount needed to open an Active Trader Account is $500.
CMEG Account Fees (A.)
Below is a list of questions regarding CMEG pricing and account requirements.
Yes. ECN fees would not be much different from what clearing firms generally charge. You may contact us if you would like more detailed information.
Stocks priced at $4.00 or more would require a 16% Maintenance Margin. For stocks priced below $2.00, the Maintenance Margin would be 100%. A detailed margin schedule is available in our Client Resource Centre.
The base currency for all accounts is USD; accounts can only be funded with US dollars.
To withdraw funds from your trading account, you must submit the Wire Transfer Request Form in the Account Management Portal under Resources. Verification and approval generally takes three (3) business days. Please also allow 3-7 business days for the wire to arrive in your account.
The following interest rates are based on the position value:
-
- $0 to $100,000 – 7.5% APR
- $100,000.01 to $1,000,000 – 6.5% APR
- $1,000,000.01 to $3,000,000 – 5.0% APR
- $3,000,000.01 and above – 4.5% APR
If your monthly commissions are over $650, your platform fee will be waived for that month. Please note that you will be required to pay the applicable data fees.
CMEG Account Management Review
Below is a of questions on CMEG Account Management
To ensure that accounts remain within overnight margin limits, CMEG notifies clients who may be in breach and liquidates as necessary from 3:50 pm EST.
Currently, CMEG does not issue a restricted stock list.
CMEG does not share in clients’ profits or losses that occur as a result of the software provided by third-party suppliers. Please view disclaimers in the Legal section of our website for more information.
In the Report section of the Account Management Portal, you can run various trade performance reports.
For urgent trade requests, you can email brokerage@cmelitegroup.com. If you require a broker-assisted trade, please provide clear instructions. We can also be reached directly at (868) 222 579 or (868) 225 6155 or (212) 203 4237.
An Active Trader has a trading volume of at least 750,000 monthly shares.
Yes, Interactive Brokers is currently one of our clearing firms.
CMEG Account Management (A.)
Below is a continued list of questions on CMEG Account Management
Yes. Our Traders Elite Pro is a customized version of the DAS Trader.
1. Risk management, including maximum loss per account (if the maximum loss is reached, the account would be disabled),
2. Limitation of additional orders once maximum position size has been reached.
A: Yes. All of the account management functionality provided by the DAS Trader would be available.
In the Montage, there is a drop-down to the bottom right; you can switch between your live and simulator accounts here.
To check shortable stocks on the platform, you can go to the “Trade” menu and select “Short List.” You can enter the stock symbolto search for stocks you want to short.
U.S. & Canada
U.S. Persons – In the case of Capital Markets Elite Group Limited, U.S. Persons must understand that Capital Markets Elite Group Limited is registered as a securities broker-dealer in Trinidad and Tobago but is not registered or licensed as a securities broker-dealer with the U.S. Securities and Exchange Commission or with any other regulatory authority in the U.S. Therefore, Capital Markets Elite Group Limited is not permitted to solicit business from U.S. Persons. Suppose you are a U.S. Person attempting to do business with Capital Markets Elite Group Limited. In that case, you will be required to certify to them that they have not solicited you and that you approached them without prior solicitation by them.
If you are a U.S. Person and cannot make that certification truthfully, you should not attempt to open an account with Capital Markets Elite Group. Suppose you can make that certification truthfully and choose to open an account with Capital Markets Elite Group Limited. In that case, you should be aware that you will not receive protections that might be afforded if Capital Markets Elite Group Limited were registered as a securities broker-dealer in the U.S.
Canadian Persons – Capital Markets Elite Group Limited does not offer services to Canadian residents or persons using a Canadian bank account or a credit card issued by a Canadian financial institution.
Final Thoughts: CMEG Review – Brokers With No PDT Rule
In conclusion, CMEG is great if you need low fees, fast speed, a customized DAS, no PDT, and the besthotkeys.
Important Notice:
Capital Markets Elite Group Limited is not affiliated with The Bullish Bears LLC. We have no authority to make any representation, recommendation, or commitment on their behalf. We provide recommendations of various brokerage firms based on our evaluation and not on behalf of those firms.
CMEG Sign Up
Click to sign up for a CMEG account.
Frequently Asked Questions
CMEG stock price and symbol: Are they publicly traded?
Investors cannot purchase shares of CMEG because the company is privately held.
I live in the U.S. Can I open an account with your brokerage?
You may be eligible to open an account with us if you have not been solicited by us, neither directly nor indirectly, as indicated on our website.
Would I be subject to the Pattern Day Trading Rule if I trade with your brokerage?
No. Since we are regulated outside the United States, that rule would not apply.
What do I need to open an account?
To meet CMEG’s jurisdictional account opening requirements, clients are required to submit two (2) forms of government-issuedphoto identification, one (1) document to represent proof of address and one (1) document to represent proof of income.
What is the difference between the standard and active trader accounts?
The Standard Accounts are designed for persons who wish to hold positions overnight or trade long-term. The Active Accounts are designed specifically for day trading.
When will I receive access to the trading platform?
Application processing takes 3-5 business days once all the documents submitted meet CMEG's requirements.
When I sign up for the live day-trading platform, will I also have access to a demo?
Yes. A fully functional simulator account is included with your subscription to the live trading platform (Traders Elite Pro).
What is my username and password?
Your username, password, and all other relevant account details will be provided in your Account Approval confirmation, which will be emailed. Be sure to keep the email for reference.
When will I receive access to the trading platform?
Your account must be activated to receive market data and to trade. Accounts are automatically activated upon funding; an email will notify you.
