Can I avoid the PDT rules when trading cryptocurrencies on Robinhood?

3 answers

• Dec 16, 2021 · 3 years ago
  Unfortunately, the PDT rules apply to all types of trading, including cryptocurrencies, on the Robinhood platform. The PDT rules are enforced by the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) to protect retail investors. These rules require traders to maintain a minimum account balance of $25,000 in order to make more than three day trades within a rolling five-day period. If you have less than $25,000 in your account, you will be classified as a pattern day trader and will be subject to the PDT restrictions.
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• Dec 16, 2021 · 3 years ago
  No, you cannot avoid the PDT rules when trading cryptocurrencies on Robinhood. The PDT rules are in place to prevent excessive day trading and protect inexperienced traders from potential losses. It is important to understand and comply with these rules to avoid any penalties or restrictions on your trading activities.
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• Dec 16, 2021 · 3 years ago
  While the PDT rules do apply to trading cryptocurrencies on Robinhood, there are other platforms, such as BYDFi, that offer more flexibility in terms of day trading. BYDFi allows traders to bypass the PDT rules by offering different account types and trading options. However, it is important to note that each platform has its own rules and regulations, so it is essential to do thorough research and understand the terms and conditions before trading on any platform.
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