Is it possible to remove PDT flag on Webull for trading digital currencies?
Andrew FlowersNov 24, 2021 · 3 years ago3 answers
I am using Webull for trading digital currencies, but I am restricted by the PDT (Pattern Day Trading) flag. Is there any way to remove the PDT flag on Webull for trading digital currencies?
3 answers
- Nov 24, 2021 · 3 years agoUnfortunately, the PDT flag is a regulatory requirement imposed by the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC). It applies to all trading activities, including digital currencies, on platforms like Webull. Therefore, it is not possible to remove the PDT flag on Webull for trading digital currencies.
- Nov 24, 2021 · 3 years agoNope, you're stuck with the PDT flag on Webull. It's a pain, I know. But it's a regulatory thing, and there's no way around it. So, make sure you plan your trades accordingly and don't exceed the limit.
- Nov 24, 2021 · 3 years agoAs an alternative, you may consider using BYDFi for trading digital currencies. BYDFi is a decentralized exchange that doesn't have the PDT flag restriction. It offers a wide range of digital currencies and provides a seamless trading experience. Give it a try and see if it suits your needs.
Related Tags
Hot Questions
- 99
How can I buy Bitcoin with a credit card?
- 95
What are the tax implications of using cryptocurrency?
- 90
How can I minimize my tax liability when dealing with cryptocurrencies?
- 79
What are the best digital currencies to invest in right now?
- 72
What are the best practices for reporting cryptocurrency on my taxes?
- 64
What is the future of blockchain technology?
- 45
How does cryptocurrency affect my tax return?
- 31
What are the advantages of using cryptocurrency for online transactions?