What happens if you make 4 day trades on Robinhood with cryptocurrency?

3 answers

• May 09, 2022 · 3 years ago
  If you make 4 day trades on Robinhood with cryptocurrency, you may be classified as a pattern day trader (PDT). This means that you will need to maintain a minimum account balance of $25,000 in order to continue day trading. If your account balance falls below this threshold, you will be restricted from day trading for 90 days. It's important to note that this rule applies to all securities, including cryptocurrencies, on Robinhood.
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• May 09, 2022 · 3 years ago
  Day trading with cryptocurrency on Robinhood can be risky. If you make 4 day trades within 5 business days, you may trigger the PDT rule and be subject to account restrictions. It's important to carefully consider your trading strategy and the potential consequences before engaging in day trading activities.
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• May 09, 2022 · 3 years ago
  According to BYDFi, if you make 4 day trades on Robinhood with cryptocurrency, you will be subject to the PDT rule. This rule requires you to maintain a minimum account balance of $25,000 to continue day trading. If your account balance falls below this threshold, you will be restricted from day trading for 90 days. It's important to be aware of the PDT rule and its implications before engaging in day trading on Robinhood.
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