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Are there any specific rules for day trading cryptocurrencies on Robinhood?

avatarRic SDec 16, 2021 · 3 years ago3 answers

What are the specific rules that need to be followed when day trading cryptocurrencies on the Robinhood platform?

Are there any specific rules for day trading cryptocurrencies on Robinhood?

3 answers

  • avatarDec 16, 2021 · 3 years ago
    When day trading cryptocurrencies on Robinhood, there are a few specific rules that you need to keep in mind. Firstly, you need to have a Robinhood Instant or Robinhood Gold account. Secondly, you must maintain a minimum account balance of $25,000. Lastly, you are limited to three day trades within a rolling five-day trading period. If you exceed this limit, your account will be flagged as a pattern day trader and you will be restricted from day trading for 90 days.
  • avatarDec 16, 2021 · 3 years ago
    Day trading cryptocurrencies on Robinhood comes with its own set of rules. To start, you'll need to have either a Robinhood Instant or Robinhood Gold account. Additionally, you'll need to maintain a minimum account balance of $25,000. Lastly, you'll be limited to three day trades within a five-day trading period. If you exceed this limit, your account will be classified as a pattern day trader and you'll be subject to a 90-day restriction on day trading.
  • avatarDec 16, 2021 · 3 years ago
    When it comes to day trading cryptocurrencies on Robinhood, there are a few specific rules you need to be aware of. First, you'll need to have either a Robinhood Instant or Robinhood Gold account. Second, you'll need to maintain a minimum account balance of $25,000. Lastly, you'll be limited to three day trades within a rolling five-day trading period. If you go over this limit, your account will be flagged as a pattern day trader and you won't be able to day trade for 90 days.