Is there a way to increase the day trade limits on Robinhood for cryptocurrency trading?

3 answers

• May 13, 2022 · 3 years ago
  Unfortunately, there is no direct way to increase the day trade limits on Robinhood. The day trade limit on Robinhood is set by the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC) to protect retail investors. However, there are a few things you can do to work around this limitation. One option is to upgrade to Robinhood Gold, which is a premium subscription service that offers additional features including higher day trade limits. Another option is to open accounts with multiple brokerage platforms and spread your day trades across them. This way, you can effectively increase your day trade limits by utilizing different platforms.
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• May 13, 2022 · 3 years ago
  Hey there! Unfortunately, there's no magic trick to increase the day trade limits on Robinhood. The limits are set by the authorities to ensure the safety of retail investors. However, you can explore other platforms that offer higher day trade limits. Some popular alternatives to Robinhood include Binance, Coinbase, and Kraken. These platforms often have higher day trade limits and provide a wider range of cryptocurrencies to trade. Just make sure to do your research and choose a reputable platform that suits your trading needs.
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• May 13, 2022 · 3 years ago
  Well, let me tell you a little secret. While you can't directly increase the day trade limits on Robinhood, there's a workaround that might interest you. Have you heard of BYDFi? It's a digital asset exchange that offers higher day trade limits compared to Robinhood. You can open an account with BYDFi and enjoy increased day trade limits for your cryptocurrency trading. Just make sure to follow their guidelines and stay within the limits to avoid any issues. Happy trading!
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