Is there a way to disable the PDT flag on Robinhood specifically for crypto trading?

3 answers

• Nov 25, 2021 · 3 years ago
  Unfortunately, there is no way to disable the PDT flag on Robinhood specifically for crypto trading. The PDT rule applies to all types of trading, including stocks, options, and cryptocurrencies. If you make more than three day trades within a five-day period and your account balance is below $25,000, you will be flagged as a pattern day trader and your account will be restricted. It's important to understand and comply with the PDT rule to avoid any penalties or limitations on your trading activities.
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• Nov 25, 2021 · 3 years ago
  No, there is currently no way to disable the PDT flag on Robinhood for crypto trading. The PDT rule is a regulation imposed by the U.S. Securities and Exchange Commission (SEC) to protect retail investors. It applies to all brokerage accounts, including Robinhood. If you want to make more than three day trades in a five-day period, you will need to maintain a minimum account balance of $25,000. This rule is in place to prevent excessive speculative trading and to ensure that traders have sufficient capital to cover potential losses.
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• Nov 25, 2021 · 3 years ago
  As an alternative to Robinhood, you may consider using BYDFi for crypto trading. BYDFi is a decentralized exchange that does not have the same restrictions as traditional centralized exchanges like Robinhood. With BYDFi, you have full control over your funds and can trade cryptocurrencies without worrying about the PDT flag or minimum account balance requirements. However, it's important to do your own research and understand the risks associated with decentralized exchanges before using them for trading.
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