Is there a way to bypass the PDT rule when trading digital currencies?
Queen BebeNov 25, 2021 · 3 years ago3 answers
I'm wondering if there is any method or loophole that allows traders to bypass the Pattern Day Trading (PDT) rule when engaging in digital currency trading. The PDT rule imposes restrictions on traders with less than $25,000 in their account, limiting them to only three day trades within a rolling five-day period. Is there any way to avoid or work around this rule specifically for digital currency trading?
3 answers
- Nov 25, 2021 · 3 years agoUnfortunately, there is no known way to bypass the PDT rule when it comes to digital currency trading. The rule applies to all types of securities, including digital currencies, and is enforced by regulatory bodies to protect traders from excessive risks. It is important to understand and comply with the PDT rule to avoid potential penalties or account restrictions.
- Nov 25, 2021 · 3 years agoHey there! I totally get your frustration with the PDT rule. It can be a real pain, especially for active traders. However, as much as I'd love to give you a secret loophole, there isn't one. The PDT rule applies to all types of trading, including digital currencies. So, unfortunately, you'll have to play by the rules and manage your trades accordingly. Good luck!
- Nov 25, 2021 · 3 years agoWhile I can't speak for other exchanges, at BYDFi, we understand the challenges posed by the PDT rule. However, it's important to note that we fully comply with regulatory requirements and do not support or encourage any attempts to bypass the PDT rule. Our platform is designed to provide a fair and secure trading environment for all users, and we strongly advise traders to adhere to the rules and regulations set by the relevant authorities.
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