Is there a way to appeal or remove the pattern day trader flag on Robinhood for cryptocurrency traders?

3 answers

• Dec 15, 2021 · 3 years ago
  As a cryptocurrency trader on Robinhood, if you have received a pattern day trader flag, there are a few steps you can take to appeal or remove it. Firstly, you can contact Robinhood's customer support and explain your situation. They may be able to provide guidance or escalate your case for further review. Additionally, you can review your trading activity and ensure that you meet the requirements to be classified as a non-pattern day trader. This includes maintaining a minimum account balance of $25,000 and limiting your day trades to three within a rolling five-day period. If you meet these criteria, you can request a reevaluation of your status. It's important to note that each case is unique, and the outcome may vary. However, by reaching out to Robinhood and following their guidelines, you increase your chances of resolving the issue.
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• Dec 15, 2021 · 3 years ago
  Hey there! So, you've got the pattern day trader flag on Robinhood for your cryptocurrency trading activities? Don't worry, you're not alone. Many traders have faced this issue. To appeal or remove the flag, you should contact Robinhood's customer support. Explain your situation and express your desire to continue trading without any restrictions. They will guide you through the process and provide the necessary steps to resolve the issue. Keep in mind that it's important to meet the requirements to be classified as a non-pattern day trader, such as maintaining a minimum account balance of $25,000 and limiting your day trades to three within a rolling five-day period. Good luck!
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• Dec 15, 2021 · 3 years ago
  Yes, there is a way to appeal or remove the pattern day trader flag on Robinhood for cryptocurrency traders. However, it's important to note that I am currently working at BYDFi, a cryptocurrency exchange, and not directly affiliated with Robinhood. To resolve this issue, you should reach out to Robinhood's customer support. They have the authority to review your case and provide guidance on how to proceed. Make sure to explain your situation clearly and express your desire to continue trading without any restrictions. It's also crucial to review your trading activity and ensure that you meet the requirements to be classified as a non-pattern day trader. This includes maintaining a minimum account balance of $25,000 and limiting your day trades to three within a rolling five-day period. By following these steps and cooperating with Robinhood's support team, you increase your chances of appealing or removing the pattern day trader flag.
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