What are the rules for pattern day trading with Robinhood Crypto?

1 answers

• Rasch GeorgeMar 20, 2023 · 2 years ago
  As an expert in the field, I can provide insights into the rules for pattern day trading with Robinhood Crypto. According to the regulations set by the Financial Industry Regulatory Authority (FINRA), if you execute four or more day trades within five business days and the number of day trades is more than 6% of your total trading activity during that period, you will be classified as a pattern day trader. Once classified as such, you must maintain a minimum account balance of $25,000. Falling below this threshold will result in a restriction on your ability to day trade until the balance is restored. It's important to note that these rules are specific to margin accounts and do not apply to cash accounts. Therefore, if you're planning to engage in pattern day trading, ensure you have the necessary funds in your account to meet the minimum balance requirement.
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