Day trade calls
Day trade calls can be tricky and inconvenient, so it’s good to know how to prevent them, and what to do if you find yourself in one.
A day trade call is a type of margin call. You can select the in-app Day Trade Call notification for the actions needed to resolve it, like deposit money to cover the call.
You’ll get a day trade call if you exceed your day trade limit. Your specific day trade limit is based on a specific start of day value, which you can find by using the steps in the next section.
Your day trade limit is set at the start of each trading day. It’s based on the amount of cash in your brokerage account and the margin requirements on the stocks that you hold overnight. In general, your day trade limit will be higher if you have more cash than stocks, or if you hold mostly stocks with low margin requirements.
To check your day trade limit in the app:
You can increase your day trade limit intraday by depositing funds, but not by selling stock.
You can only get a day trade call if you’ve been flagged as a pattern day trader and have exceeded your day trade limit.
To resolve a day trade call, you need to deposit the amount shown in the in-app day trade call and in the investing settings.
You get 5 trading days from when the day call was issued to deposit the necessary amount and will be restricted from day trading during that time.
If you don’t resolve the day trade call by the due date, you’ll remain restricted from day trading until you resolve the call.
If a day trade call is past due, you’re still able to deposit funds to resolve the call at any point.
Funds deposited to meet the call must remain in your brokerage account for 2 full trading days before you can withdraw cash. If you withdraw cash while in an active day trade call, it will increase the call amount. You must also wait 1 full trading day after you deposit to continue day trading or you may be further restricted. If you day trade while in an active day trade call, you’ll be restricted from opening positions.
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