Ethric_The_Mad t1_jacjqg1 wrote on February 28, 2023 at 1:38 PM

Reply to comment by Meakmoney1 in Webull policy update regarding Pattern Day Trading. by Present_School_8754

I don't see how policies like this are allowed to even exist. Truly scummy. We can gamble our life savings on lotto tickets but we should have our money locked away and stolen for our own protection if we research a stock and make educated guesses as to when or why it may go up or down multiple times in a week. Like, ok, sure, it's bad to risk money but wouldn't it be safer to risk $100 instead of $25000? Why are we only allowed to take risks with extremely large sums of money that 70%+ of America will never see? It's vile and the people that make these laws should be promptly replaced with WallStreetBets degenerates and I'm not even joking.

BeerPizzaGaming t1_jackk6k wrote on February 28, 2023 at 1:45 PM

Just trade cash only w/out margin. Problem solved.

BullyBumble t1_jad4evq wrote on February 28, 2023 at 4:05 PM

This isn’t “problem solved” lol. Everyone saying “cash acct fix” just ignoring that you can’t turn your acct over more than 1x per day…

Eg a $100 acct can trade a $100 contract/share one time in a day.

TL;DR - cash acct is still very restrictive intraday, compared to PDT being removed.

Ethric_The_Mad t1_jackvwe wrote on February 28, 2023 at 1:48 PM

As far as I can tell you get flagged as a pattern day trader with or without margin.... I use SoFi mostly nowadays and it sends me warnings even though I'm using my own money. Webull did it to me before even though I was definitely using my cash...