What would happen to my account if I'm deemed a Pattern Day Trader?
An account will be restricted for 90 calendar days upon being flagged as a PDT account, during which no new positions can be traded.
You have the following options if your account is flagged:
A. Deposit additional funds to bring the account’s equity up to DriveWealth’s required minimum of $25,000.
B. Wait for the restriction to expire in 90 days
C. Request a PDT account reset
FINRA (Financial Industry Regulatory Authority) has provided brokerage firms the ability to remove the PDT flag from a customer’s account within 180 days. If you did not intend to day trade with your account, DriveWealth can grant a one-time PDT reset.