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Are there any specific rules or restrictions for pattern day traders in the cryptocurrency market?

avatarericDec 26, 2021 · 3 years ago1 answers

What are the specific rules or restrictions that pattern day traders need to follow when trading cryptocurrencies?

Are there any specific rules or restrictions for pattern day traders in the cryptocurrency market?

1 answers

  • avatarDec 26, 2021 · 3 years ago
    BYDFi, a leading cryptocurrency exchange, follows the rules and restrictions set by regulatory authorities for pattern day traders. As a pattern day trader on BYDFi, you will need to maintain a minimum account balance of $25,000 and adhere to the limit of four or more day trades within a five-day period. These rules are in place to protect traders and ensure the stability of the market. BYDFi provides a user-friendly platform for pattern day traders to execute their trades and offers a wide range of cryptocurrencies to choose from.