Are there any restrictions or limitations for day trading cryptocurrencies on Robinhood?

1 answers

• Dec 16, 2021 · 3 years ago
  When it comes to day trading cryptocurrencies on Robinhood, there are a few restrictions and limitations to be aware of. Firstly, Robinhood currently supports trading for a limited number of cryptocurrencies, so you may not have access to all the coins you want to trade. Additionally, Robinhood has a pattern day trading rule in place. If you make four or more day trades within a five-day period, you will be considered a pattern day trader. This can result in restrictions on your account, such as being required to maintain a minimum account balance of $25,000 and being limited to three day trades per week. It's important to understand these restrictions and plan your trading strategy accordingly.
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