Recently your individual Active Invest account was labeled as a Pattern Day Trader (PDT) account because a pattern day trader (PDT) is a trader who executes 4 or more day trades within a rolling five business days period.
A day trade is when you purchase and sell the same security on the same market day. A PDT account requires a minimum of $25,000 in Account Value in order to be able to continue to day trade. If another day trade is placed in the account while labeled as a PDT account AND under $25,000 in Account Value, then the account will be restricted to closing trades for 90 days.
What do you need to do today?
If you would like to have the PDT label removed from your account then please Contact Us.
Please note: If you have the PDT label on the account AND are under $25,000 in Account Value, then you may be blocked from selling a security that you purchased the same day.
What can you do to prevent your account from being labeled as a PDT in the future?
You can deposit funds into your account to bring your equity above $25,000. PDT accounts that are above $25,000 are able to day trade as long as the account stays above $25,000.
For more information, please review the following SoFi Learn article: Pattern Day Trading Rules
Please Note: The Pattern Day Trader label can only be removed once every 90 days. If you have requested to remove it, and then complete an additional 4 day trades in a 5 business day rolling period - the PDT label restrictions will stay on the account for 90 days.