No_Cardiologist8650
No_Cardiologist8650 t1_jaapiaj wrote
Reply to comment by AwesomeRevolution98 in Webull policy update regarding Pattern Day Trading. by Present_School_8754
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.
No_Cardiologist8650 t1_jaame6m wrote
Reply to comment by Present_School_8754 in Webull policy update regarding Pattern Day Trading. by Present_School_8754
That makes sense. Yeah, I couldn’t tell you off the top of my head. Is Robinhood implementing the same thing?
No_Cardiologist8650 t1_jaam82f wrote
Reply to comment by Funny_Initial3398 in Webull policy update regarding Pattern Day Trading. by Present_School_8754
Yeah, that is true. But if you have a sizable account, let’s say 5k+ and you’re taking “reasonable”-sized trades (I know it’s WSB but still). It’s hard to reach that limit to wait for more cash to be settled the next day.
No_Cardiologist8650 t1_jaajgbw wrote
Just switch to a cash account
No_Cardiologist8650 t1_jab8pdk wrote
Reply to comment by Yeetus-tha-thurd in Webull policy update regarding Pattern Day Trading. by Present_School_8754
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.