Are there any limitations or restrictions on day trade forgiveness for cryptocurrency traders on Robinhood?

3 answers

• Dec 17, 2021 · 3 years ago
  Yes, there are limitations on day trade forgiveness for cryptocurrency traders on Robinhood. According to the Pattern Day Trading (PDT) rule set by the U.S. Securities and Exchange Commission (SEC), traders with accounts under $25,000 are limited to making no more than three day trades within a rolling five-day period. If a trader exceeds this limit, their account may be flagged as a Pattern Day Trader (PDT) and they will be required to maintain a minimum account balance of $25,000 to continue day trading.
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• Dec 17, 2021 · 3 years ago
  Day trade forgiveness on Robinhood is subject to the PDT rule, which restricts traders with accounts under $25,000 from making more than three day trades within a five-day period. If a trader violates this rule, their account may be restricted from day trading for 90 days. It's important for traders to carefully manage their day trades and be aware of the PDT rule to avoid any limitations or restrictions on Robinhood.
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• Dec 17, 2021 · 3 years ago
  As a representative from BYDFi, I can confirm that there are limitations on day trade forgiveness for cryptocurrency traders on Robinhood. The PDT rule applies to all traders with accounts under $25,000, and exceeding the three-day trade limit within a five-day period can result in account restrictions. To avoid any limitations, it's recommended to maintain a minimum account balance of $25,000 or consider alternative trading platforms that may have different rules regarding day trade forgiveness.
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