What are the restrictions for day trading cryptocurrencies on Robinhood?

1 answers

• May 12, 2022 · 3 years ago
  Day trading cryptocurrencies on Robinhood is subject to certain restrictions and regulations. The platform follows the pattern day trading (PDT) rule, which states that if a trader executes four or more day trades within a five-business-day period and the total number of day trades is more than 6% of their total trading activity during that period, they will be classified as a pattern day trader. Pattern day traders are required to maintain a minimum account balance of $25,000. If the account balance falls below this threshold, the trader will be restricted from day trading until the balance is restored. It's important to note that these restrictions apply to both buying and selling of cryptocurrencies on Robinhood. Traders should carefully consider these rules and requirements before engaging in day trading activities on the platform.
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