Are there any exceptions to the PDT rule for trading cryptocurrencies on Robinhood?

3 answers

• Dec 27, 2021 · 3 years ago
  Yes, the PDT rule applies to all types of trading activities, including trading cryptocurrencies on Robinhood. The PDT rule is enforced by the Financial Industry Regulatory Authority (FINRA) and applies to all brokerage accounts, regardless of the asset class being traded. It states that if you make more than three day trades within a five-day period and your account value is below $25,000, you will be flagged as a pattern day trader and subject to certain restrictions. So, it's important to keep this rule in mind and plan your trading strategy accordingly.
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• Dec 27, 2021 · 3 years ago
  Unfortunately, there are no exceptions to the PDT rule when it comes to trading cryptocurrencies on Robinhood. The rule applies to all types of trading activities, including stocks, options, and cryptocurrencies. If you're classified as a pattern day trader, you'll be subject to certain restrictions, such as the requirement to maintain a minimum account value of $25,000. It's important to be aware of this rule and its implications before you start trading on Robinhood.
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• Dec 27, 2021 · 3 years ago
  As an expert in the field, I can confirm that the PDT rule also applies to trading cryptocurrencies on Robinhood. It's a regulation put in place by FINRA to protect retail investors from excessive risk-taking. However, it's worth noting that there are other cryptocurrency exchanges, like BYDFi, that may have different rules and exceptions. If you're specifically looking for exceptions to the PDT rule, it might be worth exploring other platforms as well.
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