No. All leveraged accounts must reduce to a maximum of 2:1 leverage by 15:45 ET. 

TradeZero Europe reserves the right, at its discretion, to sell or cover any account exceeding this threshold by the 16:00 ET market close. 

During after-hours trading, all leveraged accounts are limited to 2:1 leverage.

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You can enable a daily loss limit on your trading account. Please note that these limits only apply during regular market hours and do not extend to pre-market or after-hours sessions.

A daily loss limit does not guarantee protection from all losses. You should continue to monitor your account actively and consider using additional risk management tools such as Stop Loss orders.

No. TradeZero Europe clients are not subject to Pattern Day Trading (PDT) restrictions. PDT rules are a U.S. regulatory requirement and apply only to U.S.-based brokers, not to TradeZero Europe accounts.

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Yes. Pre-market trading is available starting at 04:00 ET, and post-market trading is available until 20:00 ET.

Corporate actions such as stock splits, mergers, or name changes are processed through your TradeZero account. Affected securities are removed from the trading platform after 16:00 ET on the day before the corporate action takes effect. They are then re-added after the clearing house confirms the correct shares, symbol, or action to be applied.

It is the client’s responsibility to stay informed of upcoming corporate actions and understand how they may affect their portfolio. TradeZero charges a USD35 processing fee for handling corporate actions.

TradeZero Europe provides access to U.S. markets and clears through a U.S. clearing firm.

All orders are subject to Regulation NMS (National Market System), which requires firms to execute trades at the best available price for investors.


Regardless of the order type, orders are executed on the basis of best execution as set out in our Order Execution Policy.


Stocks priced below USD1 cannot be shorted.
Basic accounts, and Advanced accounts with less than USD2000 in equity, are not permitted to short sell.
Stocks priced below USD2.50 trade on a cash-only basis,
Stocks priced under USD0.05 cannot be traded at all.

Additionally, positions may be liquidated if an account falls to a 25% equity ratio or if total equity drops to USD99 or less.

It is therefore very important to keep your account properly funded to avoid being sold out.

Effective 28 May 2024, the standard settlement cycle in U.S. markets was shortened from T+2 (trade date plus two business days) to T+1 (trade date plus one business day). This industry-wide change enhances efficiency and reduces risk in the securities settlement process.

What this means in practice:

Under T+1, all applicable securities transactions settle one business day after the trade date. For example, if you sell shares of ABC stock on Monday, the transaction will settle on Tuesday.

Impact on account requirements:

Fed Call / Reg T (Initial purchase or short): Payment period is reduced by one day, from T+4 to T+3.

House Call / Maintenance Call: Payment period is reduced by one day, now T+1.

Cash Accounts: Purchases and sales now settle the next business day. Proceeds from closing a position are available the next business day.

Shorting Stock (Reg SHO 204): The buy-in requirement timeline has been reduced by one day, from T+3 to T+2.

U.S. equity and options exchanges follow procedures known as Market-Wide Circuit Breakers (MWCBs), which temporarily halt trading across markets if there is a severe, single-day decline in the S&P 500 Index. These halts are designed to prevent panic selling, protect market liquidity, and allow time for information to be absorbed. In extreme cases, the markets may close for the remainder of the day.

Circuit breaker levels:

Level 1: 7% decline in the S&P 500 between 09:30 and 15:25 ET → 15-minute halt

Level 2: 13% decline in the S&P 500 between 09:30 and 15:25 ET → 15-minute halt

Level 3: 20% decline in the S&P 500 at any time during the trading session → markets close for the rest of the day

After a circuit breaker halt, exchanges reopen trading with auctions in their respective primary-listed securities.

https://www.nyse.com/markets/nyse/trading-info


This rule pauses trading if a stock’s price moves too far, too quickly. Trading usually resumes after a short pause, but prices can reopen much higher or lower than before.




The U.S. Securities and Exchange Commission’s Limit Up–Limit Down Rule (LULD) prevents exchange-listed securities from trading outside of specified price bands. These price bands (“upper” and “lower”) are set at a percentage above and below the average price of the security over the immediately preceding five minutes.

If the price of a security breaches one of these bands, trading in that security will pause for five minutes. Each exchange sets the specific protocols for reopening after such a pause.

TradeZero will continue to accept orders during a halt and route them to the exchange. Execution will then occur on a best-efforts basis once the halt is lifted. Please be aware that when trading resumes, the stock may reopen at a much higher or lower price. If your account is using margin, this could trigger TradeZero’s automatic risk sell-out protocol.

TradeZero Europe offers maximum leverage of up to 3:1 during regular trading hours, from 04:00 to 16:00 ET.

Please note that trading on leverage carries significant risk. While it can amplify potential gains, it also increases potential losses and exposure to market volatility. It is possible to lose more than your initial investment if the market moves against your position. We strongly encourage the use of proper risk management strategies to help mitigate these risks.

Available Order Types:

Market Order: Executes at the best available market price. Valid during regular market hours only, with a Time in Force (TIF) of DAY.

Limit Order: Executes at the specified limit price or better, though execution is not guaranteed. Valid during all trading sessions, with TIF options: DAY, DAY+, GTC, and GTC+.

Stop Market Order: Becomes a market order once the specified stop price is reached or surpassed. Valid during regular market hours, with TIF options: DAY and GTC.

Stop Limit Order: Becomes a limit order at the specified price or better once the stop price is reached or surpassed. Valid during regular market hours, with TIF options: DAY and GTC.

Market on Close Order: Executes at the closing price of the regular market session. Any remaining balance is canceled. Valid during regular market hours with TIF: DAY.

Limit on Close Order: Executes at the closing price of the regular market session if the limit price or better is available. Any remaining balance is canceled. Valid during regular market hours with TIF: DAY.

Range Order: A bracket order consisting of a limit order to take profit and a stop market order to stop loss, where one cancels the other upon execution. For buy orders, the low price is the limit price and the high price is the stop price; for sell orders, the low price is the stop price and the high price is the limit price. Valid with TIF options: DAY and GTC.

Trailing Stop Order: Uses a trailing stop price, which is set at a fixed percentage or dollar amount above or below the current market price. The stop price adjusts as the market moves in a favorable direction but remains fixed if the market moves against the position. Valid during regular market hours, with TIF options: DAY and GTC.

Available Time in Force (TIF) instructions:

DAY: Orders are eligible for execution from 04:00 to 16:00 ET.

DAY+: Orders are eligible for execution from 04:00 to 20:00 ET.

GTC: Orders are eligible for execution from 09:30 to 16:00 ET and are automatically replaced daily until canceled or filled. Note: Locate-required shorts are not eligible.

GTC+: Orders are eligible for execution from 04:00 to 20:00 ET and are automatically replaced daily until canceled or filled. Note: Locate-required shorts are not eligible.

Available Time in Force (TIF) instructions:

DAY: Orders are eligible for execution from 04:00 to 16:00 ET.

DAY+: Orders are eligible for execution from 04:00 to 20:00 ET.

GTC: Orders are eligible for execution from 09:30 to 16:00 ET and are automatically replaced daily until canceled or filled. Note: Locate-required shorts are not eligible.

GTC+: Orders are eligible for execution from 04:00 to 20:00 ET and are automatically replaced daily until canceled or filled. Note: Locate-required shorts are not eligible.

Marked to Market is how a broker updates the value of your open positions each day. At 16:00 ET, the closing price is used to calculate unrealized profit or loss, which is then added to or subtracted from your equity. The same process applies if you open a position after 16:00 ET.

For example, if you bought a stock at USD50 and it closes at USD55, the Marked to Market (MtM) value is USD55 and you would see an unrealized gain of USD5 per share added to your equity. If it closed at USD45, the MtM value is USD45 and you would see an unrealized loss of USD5 per share deducted.

Your buying power updates at 04:00 ET at the start of each trading day.

Please note that deposits, withdrawals, unsettled trades, fees, and corporate actions may adjust your available buying power after this time. 

You may contact TradeZero via chat to request an update during the trading day.

In simple terms:
You received this notice because your short position may not have shares available to borrow, creating a risk of a “failure to deliver.” The rule requires brokers to act quickly in these situations, so we notify you to give you the chance to adjust your position before restrictions apply.

The detail:
Regulation SHO Rule 204 is the Close-out Requirement, which requires brokers and dealers that are participants of a registered clearing agency to close out any “failure to deliver” (FTD) positions. Under Rule 204(a), an FTD must be closed out by borrowing or purchasing the securities no later than the start of regular trading hours on the following settlement day.

If you actively day trade and frequently hold short positions, you may be at risk of an FTD if TradeZero or its clearing firm is unable to borrow the shares. To make this process transparent, we request information from our clearing house before the close of business to identify any positions at risk of FTD. We then notify affected clients by email so they can decide whether to maintain or exit the position.

Rule 204(b) provides that if a clearing house does not close out an FTD in accordance with Rule 204(a), then the clearing house—and any broker-dealer that clears through it—may not accept new short sale orders in that security unless the shares have first been borrowed or a bona fide borrowing arrangement has been made. To help clients avoid this restriction, TradeZero informs them in advance of any potential FTD.

As a general rule of thumb, stocks with a small float or high short interest are more likely to trigger FTDs, and therefore Reg SHO Rule 204 notices, than stocks with a larger float and lower short interest. It is important to understand these rules when making trading decisions.

General Trading