Does anyone know why Stake watch out for Pattern Day Trading and restrict the account if you do this more than 3 times in a 5 day period, seemingly even if you don’t use margin they say this is imposed on them by DriveWealth.
On the other hand, Freetrade which also uses DriveWealth doesn’t have this restriction. Anyone know why? Is it just because Stake can offer margin even if you don’t use it, so all accounts are flagged as such, and Freetrade is exempt because it doesn’t offer margin, or is it that Freetrade isn’t checking this when it should?
The rules would seem to suggest that it applies to all accounts with less than $25k, regardless of whether margin is being used or not, which seems… odd.
Stake’s page: Stake | Support knowledgebase and FAQs
Wikipedia says it only applies to margin accounts, which makes it odd then that Stake always apply the rule: Pattern day trader - Wikipedia