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Are there any specific day trading rules for cryptocurrencies on Fidelity?

avatarParasDec 26, 2021 · 3 years ago1 answers

Can you provide any information on the specific day trading rules for cryptocurrencies on Fidelity? What are the restrictions or guidelines that traders need to be aware of?

Are there any specific day trading rules for cryptocurrencies on Fidelity?

1 answers

  • avatarDec 26, 2021 · 3 years ago
    As an expert in the field, I can confirm that Fidelity does have specific day trading rules for cryptocurrencies. Traders must have a margin account with a minimum balance of $25,000 to engage in day trading. Pattern day trading, defined as executing four or more day trades within five business days, is also regulated by Fidelity. Traders classified as pattern day traders are required to maintain a minimum equity balance of $25,000. It's important to stay updated with Fidelity's policies and guidelines, as they may have additional restrictions or requirements for trading certain cryptocurrencies.