On June 4, 2026, FINRA’s new intraday margin standards will replace Pattern Day Trading (PDT). What this means for you starting on June 4th:

• No more day trade restrictions or day trade calls with your Robinhood margin account.
• If you had a pattern day trading (PDT) flag or restrictions on your account, they’ll be removed. You will now be eligible for the High-Yield Cash Program and Stock Lending.
• You will no longer need to maintain a $25,000 minimum portfolio value to day trade in your margin account. Keep in mind that the $2,000 margin minimum equity requirement will still apply.

With the new intraday margin standards, we are required to ensure that you maintain enough equity in your margin account relative to the amount of market exposure you have at any point in time during the trading day. To do this, we monitor accounts in real-time to prevent your account activity from creating or increasing intraday margin deficits (IMD).

• Margin maintenance requirement: The minimum level of equity your account must maintain throughout the day relative to open positions to prevent a margin call. If your account’s equity decreases to below this requirement, it will cause an intraday margin deficit. For more details, review What’s the total maintenance requirement?
• Intraday margin deficit: Occurs when your account equity decreases to less than the maintenance requirement. If you get an intraday margin deficit, you must increase your portfolio value back up to the maintenance requirement.
• Account restriction: Repeated failures to meet requirements can lead to further restrictions.

For more details about margin investing and the risks and disclosures, check out What’s margin investing.