$Tesla (TSLA.US)$ Is there a certain amount you need in your...
$Tesla(TSLA.US$ Is there a certain amount you need in your account before you can day trade. Or can you buy sell and buy without having a certain ammount in your account? I'm new to MooMoo
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71860595 : 25,0000 usd
Moomoo Lily : @moomoo Buddy please help assist it.
SPACELIGHT : 25k, but you should have more, especially if you're a newbie to live trading. Until you do, paper trade, the time isn't wasted.
Moomoo Buddy : Dear client, there's not a certain amount needed for day trade or normal trading. A pattern day trader (PDT) is someone who executes 4 or more day trades within 5 trading days. If you are flagged as a pattern day trader, there are 2 situations,
1. If your equity value is less than $25,000.
The customer will immediately be prohibited from initiating any new positions (the customer can close existing positions). The customer has the following options:
1) Deposit funds to bring the account's equity up to the SEC required a minimum of $25,000.
2) Wait the required 90-day period before any new positions can be initiated.
3) Request a PDT account reset when there is no unmet day-trading margin call (DT Call).
2. If your equity value is more than $25,000.
When a customer with more than $25,000 is flagged as a PDT, the customer can day trade for unlimited times if he/she has sufficient day-trading buying power(DTBP). You can click the link to check more information:What if I am flagged as a pattern day trader-moomoo Help Center Any questions please contact our live chat agents through the app via Me > Customer Service. Have a good day!
chickenrun : What's day trade? Is it not buy and sell equity on the same day?
meowmeow66 : What is a pattern day trader (PDT)-moomoo Help Center
Shiok Tin Moomoo Buddy: @moomoo Buddy : I am confused with your answer. Are you saying that an account who executes 4 or more day trades within 5 trading days will be prohibited in MooMoo SG Platform? I just call support number and told me that there is no such restriction for US stocks on MooMoo SG Platform. Support also answer me that it is only for US brokerage firms. Basically, we can buy and sell the same US stock within 5 or more consecutive days without limitation. Please help clarify. Thanks.
Moomoo Buddy Shiok Tin: Dear client, sorry for the misunderstanding. About this issue, in Moomoo SG, there's no day trade restriction. And Moomoo is an international platform for both US and Singapore clients, so in case you have any other questions, please contact us through 'Me-Customer Service-Online inquiry' or hotline number +65-6321 8888. Thank you for your support and have a nice day ahead!