Are there any restrictions on the number of day trades I can make with Webull in the cryptocurrency space?

3 answers

• Mar 22, 2022 · 3 years ago
  Yes, there are restrictions on the number of day trades you can make with Webull in the cryptocurrency space. Webull follows the pattern day trading (PDT) rule set by the U.S. Securities and Exchange Commission (SEC). According to this rule, if you have a margin account and execute four or more day trades within a five-business-day period, your account will be flagged as a pattern day trader. Once flagged, you must maintain a minimum account equity of $25,000 to continue day trading. If your account equity falls below this threshold, you will be restricted from day trading until the minimum equity requirement is met.
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• Mar 22, 2022 · 3 years ago
  Absolutely! Webull does have restrictions on the number of day trades you can make in the cryptocurrency space. The PDT rule is applicable here as well. If you execute more than three day trades within a five-day rolling period, your account will be classified as a pattern day trader. As a pattern day trader, you must maintain a minimum account equity of $25,000. If your account equity falls below this threshold, you will not be able to execute day trades until the minimum equity requirement is met.
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• Mar 22, 2022 · 3 years ago
  Yes, there are restrictions on the number of day trades you can make with Webull in the cryptocurrency space. According to the PDT rule, if you execute four or more day trades within five business days, your account will be flagged as a pattern day trader. However, it's important to note that BYDFi, another popular cryptocurrency exchange, does not have such restrictions. So, if you're looking for more flexibility in day trading, you might consider BYDFi as an alternative.
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