Broker Summary
Pros:
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Available to US residents
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$500 minimum (Active Account)
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Access to multiple trading software
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Direct access routing
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Hotkeys
Cons:
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Very high commissions and fees
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Not regulated by FINRA, SEC, SIPC, or other US authorities
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Not available to Canadian residents
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The old “no PDT” advantage is becoming less important as US PDT rules change
Overview
Capital Markets Elite Group , or CMEG, is a securities broker-dealer located in the Republic of Trinidad and Tobago. They have been in business since 2013, providing access to securities and FOREX markets through advanced trading platforms, such as DAS and Sterling Trader.
For years, CMEG was popular with small-account traders because it allowed day trading without being actively restricted by the US Pattern Day Trader (PDT) rule. That advantage has changed, though.
FINRA’s old $25,000 Pattern Day Trader minimum and trade-count-based PDT designation have been replaced with a new, risk-sensitive intraday margin framework. Instead of focusing on how many trades you make over the course of a five-business-day period, brokers will focus more on whether your account has enough equity to support its intraday positions.
For US-based traders, this means that CMEG’s old role as a PDT workaround is becoming less compelling. Many traders who previously relied on offshore brokers because they didn’t have $25,000 may find less appeal in CMEG and similar platforms now.
CMEG offers pre-market trading hours between 7:30-9:30 AM ET, followed by market trading hours of 9:30 AM-4 PM ET. They do also offer after-hours extended trading between 4-5:30 PM ET. According to their FAQ page, after-hours trading may only go until 5 PM ET on Fridays, depending on which trading platform you are using.
CMEG does not solicit U.S. Persons. However, US Persons can still open an account with CMEG by visiting their website and acknowledging the pop-up prompt that verifies they haven’t been solicited. CMEG provides more information on US Persons here . Canadian residents are not eligible to open an account at CMEG. All other international residents should check with CMEG for application eligibility.
CMEG only accepts deposits through international wire transfers, which can be done in USD, EUR, and GBP and can take 3-5 business days to arrive. CMEG asks clients to send a copy of the wire transfer receipt to their support team to confirm the transaction. To withdraw funds, CMEG requires a Wire Transfer Request Form, which can be found on their FAQ page or through their support team.
Regarding taxes, CMEG is FATCA (Foreign Account Tax Compliance Act) compliant, meaning it reports foreign assets held by its US-based clients to the IRS. CMEG does not provide its clients with a 1099-B, as is the general practice with US-based brokers. Instead, they offer an account summary statement that provides the necessary information for tax purposes. For questions about filing taxes for a CMEG account, it is best to reach out to a CPA who is familiar with trading taxes.
Registrations
CMEG states on its website that they are registered with the Trinidad and Tobago Securities and Exchange Commission (TTSEC) and the Cayman Islands Monetary Authority (CIMA). They also state on their website that they are registered as a Foreign Financial Institution (FFI) with the IRS and compliant under FATCA (Foreign Account Tax Compliance Act), which requires foreign financial institutions to report foreign assets held by US-based CMEG clients.
When considering CMEG as a broker, it is important to note that, according to its website, CMEG is not registered with FINRA, the SEC , SIPC, or any other federal or state authority in the US. As a result, CMEG does not operate under the same rules as other US-based brokerages. On the one hand, this allows CMEG to offer margin day trading accounts to clients with less than $25,000. On the other hand, customers of CMEG have to take into consideration the risk associated with funding an account at a broker unregulated by the US government.
Account Types
CMEG offers margin trading accounts to their clients with a minimum deposit of $0 for Standard Accounts and $500 for Active Accounts. Active Accounts must maintain a $350 balance to maintain trading permissions and monthly subscriptions. If the account balance falls below that value, the account may be liquidated.
Standard Accounts offer zero commissions and are designed for traders who want to buy and hold for extended periods. While there is no margin for accounts under $2499, they offer 4x leverage for Standard Accounts funded with $2500 or more.
Active accounts funded with more than $500 are eligible for 6x leverage, while accounts with balances under $500 do not receive leverage. It’s important to note that leverage is subject to CMEG’s margin policy, which you can find at the bottom of this page here .
They also offer an enhanced account, which is CMEG’s proprietary trading service that provides up to 10:1 leverage. However, that is only offered to proprietary trading groups with the proper experience and certifications. Finally, they offer a Forex account for those interested in trading currencies. Currently, that account type is not available to US Persons.
Pricing
As of January 2023, CMEG charges commissions on a per-fill basis rather than per-trade for Active Accounts, resulting in higher commissions for clients than under their previous structure. In comparison, Standard Accounts offer $0/trade commissions. However, Standard Accounts are meant for long-term traders rather than day traders, as they are not allowed to day trade more than 3 times in a five-day rolling period.
It’s important to consider other fees that are charged on items like trading software, monthly data, routing and ECN, deposits and withdrawals, platform changes, and stock locates. CMEG also assesses interest fees based on the market close value of borrowed funds. The fees depend on the account type, as the Standard Account benefits from things like $0 platform fees. A detailed list of CMEG’s fees can be found here. You can also find a breakdown of their data fees on their website.
In terms of alternatives, you can find other methods of day trading with less than $25k here .
Trading Software
CMEG provides access to multiple trading platforms, including Sterling Trader Pro, DAS, and DAS Web/Mobile, all popular among day traders. You can learn more about the different types of trading software CMEG offers here .
Sterling Trader Pro is the trading software we use at Warrior Trading for our simulator, which has made it widely used by our members because they can practice on it and then transition to live trading with the same software. You can learn more about Sterling Trader Pro and our thoughts on it here .
DAS Trader Pro is another popular trading software as an alternative to Sterling Trader Pro. You can learn more about them here .
CMEG provides mobile trading via the iDAS mobile app, available on the Android and iOS app stores. However, this feature is only available to users of the DAS Trader Pro software.
The Warrior Pro course offers access to demo videos and downloadable layouts for both the Sterling and DAS (desktop) software, as our mentors are well-versed in them. Members may find those resources helpful in better understanding how to use the software.
CMEG does offer demo trading accounts upon request. Clients can request a 7-day demo of the Sterling software and a 14-day demo of the DAS software.
Features and Support
Among other features, CMEG offers a Stock Locate service accessible via the DAS Trader Pro and Sterling Trader Pro software. The Short Locate service allows you to pay a fee to secure the ability to short a stock that is otherwise hard to borrow. For example, if a stock cannot be shorted, you can place a Short Locate request to the broker. If the broker locates inventory, you can pay a fee to secure the locate, which will then allow you to short the stock. Short locate requests are valid only for the same trading day, and unused short locates expire at the end of the day.
There are multiple contact options for product, service, and technical support. You can find the options for contacting CMEG here . It’s important to note that calling CMEG may incur international calling charges from your service provider. If your inquiry is non-urgent, you can consider sending an email instead.
CMEG provides a detailed FAQ page here , which is a great way to obtain answers to any questions you may have about the brokerage and its services. It is encouraged to first look through the FAQ for answers to your questions before reaching out to the support team.
CMEG does allow clients to suspend their accounts if they don’t plan to trade and wish to save on software and market data fees by reaching out to their support team (inactivity fees still apply).
Is CMEG Still Worth It After the PDT Rule Change?
CMEG is likely not the best choice for U.S. retail traders anymore, because similar software and features are available with U.S. based brokers as the P.D.T. rule has ended.
In the old PDT environment , CMEG’s appeal was mostly based on the ability for certain traders to trade actively with less than $25,000 . Now, that advantage is less important.
For small-account traders in 2026 and the years to come, CMEG’s value should be judged based on:
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If its platform options appeal to you
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If you need short locate access
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If you’re comfortable with working with an offshore broker
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If the fees make sense for your account size
CMEG can also be useful for some international traders . Plus, for some active traders who want to use specific platform and shorting features, it may still be worth considering.
However, for many US-based beginner traders who may have previously turned to CMEG, it’s weaker than it used to be. If US brokers are becoming more accessible to small-account traders under the new intraday margin framework , it may make more sense to consider those options first.
Bottom Line
Capital Markets Elite Group used to stand out because it gave certain small-account traders the advantage of trading actively without the old PDT restriction.
With the $25,000 PDT minimum being eliminated, CMEG no longer has the same appeal. If you’re a beginner, I’d start with looking into domestic brokers that offer access to smaller margin accounts, some of which may be as little as $2,000 under the new intraday margin framework.
However, if you choose to trade small, make sure you know how to manage the risks involved. Practice in a day trading simulator and consider working through day trading courses to prepare you for putting real capital at risk. The PDT rule may be changing, but the most important rule is still the same: manage risk well, no matter how and where you trade.
Important Notice
Capital Markets Elite Group Limited is not affiliated with Warrior Trading. We have no authority to make any representation, recommendation, or commitment on their behalf. We provide information on various brokerage firms based on our own evaluation and not on behalf of those firms.
U.S. Persons–In the case of Capital Markets Elite Group Limited, it is important that U.S. Persons 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. If you are a U.S. Person and you attempt to do business with Capital Markets Elite Group Limited, you will be required to certify to them that you have not been solicited by them and that you approached them without prior solicitation by them. If you are a U.S. Person and are not able to make that certification truthfully, you should not attempt to open an account with Capital Markets Elite Group. If you are able to make that certification truthfully and choose to open an account with Capital Markets Elite Group Limited, you should be aware that you will not receive protections that might be afforded to you 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 to persons using a Canadian bank account or a credit card issued by a Canadian financial institution.
Sources:
Understanding the New Intraday Margin Requirements | FINRA.org
Day Trading: The Basics and How to Get Started | Investopedia