Can I make unlimited day trades with cryptocurrencies on thinkorswim?

3 answers

• Dec 25, 2021 · 3 years ago
  Yes, there is a limit to the number of day trades you can make with cryptocurrencies on thinkorswim. The Financial Industry Regulatory Authority (FINRA) has established the pattern day trader (PDT) rule, which applies to all securities, including cryptocurrencies. Under this rule, if you make more than three day trades within a rolling five-day period and your account value is below $25,000, you will be classified as a pattern day trader and your account may be restricted. It's important to familiarize yourself with the PDT rule and consider the potential limitations before engaging in day trading activities with cryptocurrencies on thinkorswim.
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• Dec 25, 2021 · 3 years ago
  No, there is no limit to the number of day trades you can make with cryptocurrencies on thinkorswim. You are free to trade as frequently as you like without any restrictions. However, it's important to note that day trading can be highly risky and volatile, and it requires a deep understanding of the market and trading strategies. It's recommended to do thorough research and gain experience before engaging in day trading activities with cryptocurrencies on thinkorswim.
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• Dec 25, 2021 · 3 years ago
  As an expert in the field, I can confirm that there is a limit to the number of day trades you can make with cryptocurrencies on thinkorswim. The PDT rule applies to all securities, including cryptocurrencies, and it is designed to protect retail investors from excessive trading risks. If you are classified as a pattern day trader, your account may be subject to certain restrictions. However, it's important to note that this rule may vary depending on the jurisdiction and the specific regulations of the exchange. It's always a good idea to consult with a financial advisor or the exchange's support team for accurate and up-to-date information regarding day trading limitations with cryptocurrencies on thinkorswim.
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