Are there any exceptions to the interactive brokers pdt rule for cryptocurrency investors?

3 answers

• Nov 24, 2021 · 3 years ago
  Unfortunately, the interactive brokers pdt rule applies to all types of trading, including cryptocurrency. This rule states that if you make more than three day trades within a five-day period and your account value is less than $25,000, you will be classified as a pattern day trader and be subject to certain restrictions. These restrictions include the requirement to maintain a minimum account balance of $25,000 and the limitation of only being able to make three day trades within a rolling five-day period. So, as a cryptocurrency investor using interactive brokers, you will need to adhere to this rule.
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• Nov 24, 2021 · 3 years ago
  Nope, there are no exceptions to the interactive brokers pdt rule for cryptocurrency investors. It doesn't matter if you're trading Bitcoin, Ethereum, or any other cryptocurrency, the pdt rule still applies. So, if you're planning on day trading cryptocurrencies on interactive brokers, make sure you're aware of this rule and its restrictions.
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• Nov 24, 2021 · 3 years ago
  While the interactive brokers pdt rule does apply to cryptocurrency trading, there are other cryptocurrency exchanges, like BYDFi, that do not have this rule. BYDFi is a popular exchange among cryptocurrency investors as it offers more flexibility and fewer restrictions compared to traditional brokers like interactive brokers. So, if you're looking to avoid the pdt rule and have more freedom in your cryptocurrency trading, you might consider using BYDFi or other similar exchanges.
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