How does Webull handle the pattern day trader rule for digital currencies?

3 answers

• fish_averse33Nov 16, 2023 · 2 years ago
  Webull follows the pattern day trader rule for digital currencies, which means that if you make more than three day trades within a five-day period, your account will be flagged as a pattern day trader. Once flagged, you will need to maintain a minimum account balance of $25,000 to continue day trading. If your account balance falls below this threshold, you will be restricted from day trading until the balance is restored. It's important to note that this rule applies specifically to digital currencies and not other assets on Webull.
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• Islam AmrDec 03, 2022 · 3 years ago
  When it comes to day trading digital currencies on Webull, the pattern day trader rule is enforced. This means that if you make more than three day trades within a five-day period, you will be classified as a pattern day trader. As a pattern day trader, you will need to maintain a minimum account balance of $25,000 to continue day trading. If your account balance falls below this threshold, you will be restricted from day trading until the balance is restored. It's crucial to understand and comply with this rule to avoid any limitations on your trading activities.
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• CEM_88Dec 07, 2023 · 2 years ago
  Webull, like many other platforms, follows the pattern day trader rule for digital currencies. This rule is designed to protect traders by imposing certain restrictions on day trading activities. If you make more than three day trades within a five-day period, your account will be flagged as a pattern day trader. To continue day trading, you will need to maintain a minimum account balance of $25,000. If your account balance falls below this threshold, you will be restricted from day trading until the balance is restored. It's important to be aware of and adhere to this rule to avoid any potential limitations on your trading strategies.
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