Do cryptocurrency traders have to deal with the PDT flag, and if so, how long does it last?

3 answers

• Mar 22, 2022 · 3 years ago
  Yes, cryptocurrency traders may have to deal with the PDT flag. The PDT flag is a regulation imposed by the U.S. Securities and Exchange Commission (SEC) that applies to traders who execute more than three day trades within a rolling five-business-day period. If you're flagged as a PDT, you'll be required to maintain a minimum account balance of $25,000 in order to continue day trading. The PDT flag lasts until you meet the minimum account balance requirement or until 90 calendar days have passed.
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• Mar 22, 2022 · 3 years ago
  Absolutely! If you're an active cryptocurrency trader and execute more than three day trades within a five-day period, you'll trigger the PDT flag. This means you'll need to maintain a minimum account balance of $25,000 to continue day trading. The PDT flag remains in effect until you meet the account balance requirement or until 90 calendar days have passed. So, make sure to plan your trades accordingly and be aware of the PDT rules to avoid any restrictions.
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• Mar 22, 2022 · 3 years ago
  Yes, cryptocurrency traders are subject to the PDT flag if they meet the criteria set by the SEC. The PDT flag is not specific to any particular exchange, including BYDFi. If you execute more than three day trades within a five-day period, you'll be flagged as a PDT. To continue day trading, you'll need to maintain a minimum account balance of $25,000. The PDT flag will remain in effect until you meet the account balance requirement or until 90 calendar days have passed. It's important to be aware of these regulations to avoid any limitations on your trading activities.
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