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Your account will be flagged for pattern day trading if you make 4 or more day trades within 5 trading days, and the number of day trades represents more than 6% of your total trades in that same 5 trading day period. This rule only applies to margin accounts and IRA limited margin accounts.
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If you've been flagged as a pattern day trader (PDT), you...
- Pattern Day Trade Protection
Pattern day trading (PDT) rules are defined by FINRA, a US regulator. These rules apply to all Robinhood customers, including our UK customers. We’ve gone a step further and provided you with tools you can use to make sure you’re investing responsibly.
FINRA rules define a pattern day trader as any customer who executes four or more “day trades” within five business days, provided that the number of day trades represents more than six percent of the customer’s total trades in the margin account for that same five business day period.
FINRA rules define a day trade as the purchase and sale, or the sale and purchase, of the same security (a stock, ETF, or option contract) on the same trading day in a margin account. You’ll be considered a “Pattern Day Trader” if you execute 4 or more day trades within 5 trading
Pattern Day Trade (PDT) Protection alerts you as you place your 2nd, 3rd, and 4th day trades in a 5 trading day period in an effort to help you avoid being flagged as a pattern day trader (PDT). On the 2nd and 3rd day trades, you’ll be given a few options to help avoid getting flagged.
13 cze 2024 · So, what is a ‘pattern day trader (PDT)?’. If you make more than three day trades in five business days, provided the number of trades is more than 6% of total trades in your account during this period, you meet the minimum criteria. What Constitutes A Day Trade?
27 cze 2022 · Pattern Day Trading. Traders who execute four or more day trades within a five-day period, representing more than 6% of your total trades in that five-day period, are considered pattern day traders by FINRA.
