Are there any exceptions to the pattern day trading rule when trading cryptocurrency on Robinhood?

7 answers

• May 01, 2022 · 3 years ago
  Yes, there are exceptions to the pattern day trading rule when trading cryptocurrency on Robinhood. According to the Financial Industry Regulatory Authority (FINRA), if you have an account with a value of at least $25,000, you are considered a pattern day trader and can make unlimited day trades. However, if your account value falls below $25,000, you will be restricted to making only three day trades in a five-day rolling period.
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• May 01, 2022 · 3 years ago
  Absolutely! When trading cryptocurrency on Robinhood, the pattern day trading rule applies, but there are exceptions. If you have a Robinhood Gold account, which requires a monthly fee, you can make unlimited day trades. This account also provides you with additional buying power and access to extended trading hours.
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• May 01, 2022 · 3 years ago
  Yes, there are exceptions to the pattern day trading rule when trading cryptocurrency on Robinhood. However, it's important to note that these exceptions may vary depending on the specific rules and regulations of the platform. For example, BYDFi, another popular cryptocurrency exchange, also offers exceptions to the pattern day trading rule. It allows users to make more than three day trades in a five-day period without being classified as a pattern day trader. It's always a good idea to familiarize yourself with the rules and regulations of the platform you are trading on to ensure compliance.
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• May 01, 2022 · 3 years ago
  While trading cryptocurrency on Robinhood, you may wonder if there are any exceptions to the pattern day trading rule. The answer is yes! If you have a Robinhood Instant or Robinhood Gold account, you can make unlimited day trades. However, it's important to note that Robinhood Instant accounts are subject to the pattern day trading rule if the account balance falls below $25,000.
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• May 01, 2022 · 3 years ago
  Yes, there are exceptions to the pattern day trading rule when trading cryptocurrency on Robinhood. For example, if you have a cash account instead of a margin account, you are not subject to the pattern day trading rule. However, with a cash account, you will not have access to instant deposits and instant settlements.
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• May 01, 2022 · 3 years ago
  When trading cryptocurrency on Robinhood, there are exceptions to the pattern day trading rule. If you have a Robinhood Gold account, you can make unlimited day trades. However, it's important to consider the additional fees associated with this account type.
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• May 01, 2022 · 3 years ago
  Yes, there are exceptions to the pattern day trading rule when trading cryptocurrency on Robinhood. For instance, if you have a Robinhood Cash account, you are not subject to the pattern day trading rule. With a Cash account, you can make unlimited day trades without the $25,000 account value requirement. However, it's important to note that instant deposits and instant settlements are not available with a Cash account.
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