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AwesomeRevolution98 t1_jaanwby wrote

Reply to comment by No_Cardiologist8650 in Webull policy update regarding Pattern Day Trading. by Present_School_8754

How would that over ride their rules . Sucks for the degens trying to play the fomc meetings. CPI days will still be as their pre market.

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No_Cardiologist8650 t1_jaapiaj wrote

It doesn’t really, but a bigger account that isn’t at 25k yet (let’s say 5-10k) can still day trade as much as needed with extra cash that’s settled as opposed to violating the 3 same day trade rule if you’re margin.

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Yeetus-tha-thurd t1_jab219s wrote

Can you clarify this please. My understanding is 4 trades in a 5 business day period. If its the same stock you must wait two days. Otherwise there is a $25,000 minimum balance, (so more like $30,000), for no PDT flags. How can you "still day trade as much as needed"?

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mghollan t1_jab49tw wrote

Cash account.

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Yeetus-tha-thurd t1_jab52rp wrote

Is this only on certain platforms? I have TD ameritrade and a cash account and dont think they allow this.

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mghollan t1_jab65rk wrote

Not sure man. I know webull and Robinhood allow it. It's all I use for trading. Keep some cash in reserves and trade with the rest. Funds from settled trades on are ready next morning

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No_Cardiologist8650 t1_jab8pdk wrote

Webull will definitely let you do it. There’s an option in your settings, it does take like 5ish days for them to switch your account.

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etrimmer t1_jabmnr6 wrote

options settle next day on cash account in TDA.

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