What are the specific day trading rules for trading digital currencies on TD Ameritrade with an account balance under $25k?

1 answers

• Jan 12, 2022 · 3 years ago
  As an expert in the field, I can tell you that if you have an account balance under $25k on TD Ameritrade and you want to day trade digital currencies, there are specific rules you need to follow. According to the Financial Industry Regulatory Authority (FINRA), if you execute four or more day trades within a five-business-day period and your day trading activities represent more than 6% of your total trading activity during that period, you will be classified as a pattern day trader. As a pattern day trader, you must maintain a minimum account balance of $25k on any day that you day trade. If your account balance falls below $25k, you will not be able to day trade until you bring your account balance back up to $25k or above. Please note that these rules apply specifically to day trading of digital currencies on TD Ameritrade.
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