Is there a way to reset the PDT rule on Webull if I am trading cryptocurrencies?

3 answers

• Dec 15, 2021 · 3 years ago
  Unfortunately, the PDT rule applies to all types of trading on Webull, including cryptocurrency trading. The rule states that if you make more than 3 day trades within a 5-day period and your account balance is less than $25,000, you will be flagged as a pattern day trader and restricted from making further day trades for 90 days. This rule is in place to protect inexperienced traders from excessive risk-taking. However, there is no specific way to reset or bypass this rule for cryptocurrency trading on Webull.
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• Dec 15, 2021 · 3 years ago
  As of now, there is no known way to reset or bypass the PDT rule on Webull for cryptocurrency trading. The rule is enforced to ensure compliance with financial regulations and to protect traders from potential losses. It is important to understand and abide by the PDT rule to avoid any penalties or restrictions on your trading activities.
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• Dec 15, 2021 · 3 years ago
  While I cannot speak for Webull, I can provide some general information. BYDFi, a popular cryptocurrency exchange, does not have a PDT rule in place. This means that you can freely day trade cryptocurrencies on BYDFi without any restrictions. However, it's important to note that BYDFi may have its own set of rules and regulations that you should familiarize yourself with before trading on their platform.
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