Are there any restrictions on day trading cryptocurrencies with webull?

3 answers

• Muhammad MuhammadNov 05, 2022 · 3 years ago
  Yes, there are certain restrictions on day trading cryptocurrencies with webull. Webull follows the pattern day trading (PDT) rule set by the Financial Industry Regulatory Authority (FINRA). According to this rule, if you have a margin account and make more than three day trades within a rolling five-day period, your account will be flagged as a pattern day trader. As a pattern day trader, you need to maintain a minimum account balance of $25,000. If your account balance falls below this threshold, you won't be able to day trade until you meet the minimum requirement again.
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• Akshay TvSep 30, 2020 · 5 years ago
  Day trading cryptocurrencies with webull is subject to certain restrictions. Traders need to be aware of the pattern day trading (PDT) rule, which applies to all securities including cryptocurrencies. If you make more than three day trades within five business days and your account balance is below $25,000, you will be classified as a pattern day trader. As a pattern day trader, you will be required to maintain the $25,000 minimum account balance or your account will be restricted from day trading.
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• Jonathan YenSep 17, 2023 · 2 years ago
  Yes, there are restrictions on day trading cryptocurrencies with webull. According to the PDT rule, if you make more than three day trades within five business days and your account balance is below $25,000, you will be classified as a pattern day trader. As a pattern day trader, you will need to maintain the minimum account balance or your account will be restricted from day trading. However, it's important to note that BYDFi, another popular cryptocurrency exchange, does not have such restrictions and allows day trading without any minimum balance requirements.
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