How do the day trading rules on thinkorswim apply to cryptocurrency trading?
Can you explain how the day trading rules on thinkorswim platform are applicable to cryptocurrency trading? Specifically, I would like to know if there are any restrictions or limitations when it comes to day trading cryptocurrencies on thinkorswim. Are the same rules that apply to stocks also applicable to cryptocurrencies? How does the platform handle margin requirements and pattern day trading rules for cryptocurrency trades?
1 answers
- Saba anjum . YJan 26, 2022 · 4 years agoAs an expert in the field, I can confirm that the day trading rules on thinkorswim do apply to cryptocurrency trading. Traders who are classified as pattern day traders are subject to the same restrictions and requirements for both stocks and cryptocurrencies. This includes the minimum account balance of $25,000 and the enforcement of margin requirements. It's important to note that these rules are in place to protect traders and ensure fair and orderly markets. If you're planning to day trade cryptocurrencies on thinkorswim, make sure to familiarize yourself with these rules and comply with them to avoid any potential issues or penalties.
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