Will I be subject to the U.S. Pattern Day Trading Rule once my account is migrated due to Brexit?

A Pattern Day Trader is someone who has an IBKR Lite or Pro margin account and who affects 4 or more "day trades" within a 5 business day period. Pattern Day Traders must maintain at least USD 25,000 in their margin account. If your margin account is under USD 25,000 then you are limited to 3 "day trades" in a rolling 5 business day period, but if you use all 3 "day trades" then your account is flagged as a…

Overview:

A day trade is defined as a purchase and sale of a security (US and Non-US) within the same trading day. The FINRA regulations intended to limit the amount of trading that can be done in accounts with small amounts of capital, specifically accounts with less than 25,000 USD Net Liquidation Value. A Pattern Day Trader is someone who effects 4 or more day trades within a 5 business day period. You have violated these rules and are therefore subject to PDT restrictions…

In order to avoid being subject to limited day trading, you will need to ensure your account Securities Net Liquidation Value has over USD 25,000 in value.

You can find an Overview of Pattern Day Trading ("PDT") Rules…

Provided your IRA account has margin capabilities and that you maintain at least USD 25,000 in equity, the account will have day trading capabilities.

Accounts that have not yet been migrated to the intraday margin standards are still subject to the Pattern Day Trading (PDT) rules and are not yet subject to Intraday Margin Deficit (IMD) calls. For more information on the FINRA rule change please review the…