Market timings 

US Markets are open Monday-Friday from 9:30 AM-4:30 PM Eastern standard time. (excluding US public holidays)

Order Types

Market Orders: 

Order to buy or sell at the current market price, executed nearly instantaneously.

*Price may change quickly and orders executed at different price points due to market conditions 

 Limit Orders:

Specify a price at which to buy or sell a security, executed only at that price or better.

*May not be filled immediately due to quantities available at the set price.

Settlement

Normal settlement for stocks is T+1. Settled shares can be traded with a maximum trading value of $200,000 per day.

Dividend collection

Cash Dividends:

Cash dividends are credited to your Thndr wallet after the pay date upon receiving the amount into our account. 

*30% withholding tax applies to dividends for non-US residents.

Stock Dividends:

All dividends are rounded to the nearest penny and automatically added to your wallet.

Stock Splits:

Stock splits are processed immediately. In the case of reverse splits, cash in return for non-divisible shares will be added to your wallet

T0 restrictions – The Pattern Day Trading (PDT) rule

What is the PDT rule?

The PDT rule defines a day trade as a pair of trades within the same day, This involves an initial transaction followed by a closing one on the same calendar day. 

Whether it’s buying and then selling for long positions or selling short and covering the position, both scenarios constitute a day trade.

When does my account become PDT?

An account becomes labeled as a Pattern Day Trader if it executes four day trades within five business days. Trades falling short of this criteria won’t trigger PDT designation.

What if I want to make day trades?

If you would like to perform day-trades regularly, you are required to have a minimum of $25,000 or 25% of the total market value of your securities maintained in your account.

Once you fund your account with the required balance, please contact Thndr support to initiate the waiver process.

How are day trades determined?

Day trades are tallied regardless of share quantity or frequency throughout the day.

For further details, you can visit Regulatory Notice 21-13 on FINRA.org.

Fractional shares 

Fractional shares are fractions of a whole share. This means that you can own a portion of a company, without buying 1 full share. You can buy as little as $1 worth of shares for over 2,000 US equities.

• Fractional shares allow you to invest in stocks and ETFs, for as little as $1.

• You cannot place Limit orders to buy/sell Fractions, only market orders.

Most stocks worth over $1.00 per share with a market cap over $25,000,000 are eligible for fractional share orders.