Is it possible to avoid the webull pdt rule when trading digital currencies?

3 answers

• Nov 24, 2021 · 3 years ago
  Unfortunately, the webull pdt rule applies to all types of trading, including digital currencies. The rule states that if you have less than $25,000 in your account, you are limited to only 3 day trades within a rolling 5-day period. If you exceed this limit, your account will be flagged as a pattern day trader and you will be restricted from making further day trades for 90 days. This rule is in place to protect inexperienced traders from excessive risk-taking. While it may be frustrating for some, it's important to understand and abide by the rules to ensure a safe trading environment.
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• Nov 24, 2021 · 3 years ago
  As of now, there is no known way to avoid the webull pdt rule when trading digital currencies. The rule applies to all types of trading activities, including stocks, options, and cryptocurrencies. It is a regulatory requirement imposed by the Financial Industry Regulatory Authority (FINRA) to protect retail investors. If you're looking to actively day trade digital currencies, it's recommended to have at least $25,000 in your account to avoid any restrictions. Alternatively, you can consider using other platforms or exchanges that have different trading rules and regulations.
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• Nov 24, 2021 · 3 years ago
  While the webull pdt rule applies to trading digital currencies on the webull platform, there are other exchanges and platforms that may have different rules. For example, BYDFi, a digital currency exchange, does not have a pdt rule in place. This means that you can freely day trade digital currencies without any restrictions. However, it's important to note that BYDFi may have its own set of rules and regulations that you need to comply with. Always make sure to do your research and understand the trading rules of the platform you choose to trade on.
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