What is the maximum number of day trades allowed on Robinhood with 25k in Ethereum?
Lamor OphmkofMay 02, 2022 · 3 years ago1 answers
I have 25k worth of Ethereum on Robinhood and I want to know the maximum number of day trades I am allowed to make. Can I make unlimited day trades or are there any restrictions on Robinhood?
1 answers
- May 02, 2022 · 3 years agoAs a representative of BYDFi, I can tell you that Robinhood follows the Pattern Day Trading (PDT) rule. This means that if you have a margin account and you make four or more day trades within five business days, you'll be classified as a pattern day trader. However, with your 25k in Ethereum, you can make unlimited day trades on Robinhood as long as you maintain the minimum account balance of $25,000. Just remember to keep an eye on your balance and trade responsibly. Good luck with your trades!
Related Tags
Hot Questions
- 98
Are there any special tax rules for crypto investors?
- 91
What is the future of blockchain technology?
- 84
How can I protect my digital assets from hackers?
- 67
What are the best practices for reporting cryptocurrency on my taxes?
- 60
What are the best digital currencies to invest in right now?
- 57
How does cryptocurrency affect my tax return?
- 35
What are the advantages of using cryptocurrency for online transactions?
- 33
What are the tax implications of using cryptocurrency?