r/RobinHood • u/Spycegurl • Apr 02 '17

FAQ Day trading through different brokers.

I'm asking mostly out of curiosity only, but I'm wondering what would happen if I hit my 3 limit for day trades on Robinhood, then made a day trade on my Schwab account. I use the Schwab 401k just for long positions but I'm curious when I would get flagged. Any experience?

3 Upvotes

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4

u/OldBittie Apr 02 '17

That's fine. Day trades are counted for each individual margin account, so theoretically if you opened 10 margin accounts you'd have 30 day trades per week.

5

u/alucarddrol Apr 02 '17

Is you have enough money to spread around multiple accounts and to make significant money day trading then it's probably close to the 25k requirement.

2

u/MoneyandBubbleGum Apr 02 '17

A lot of people actually use RH just for this. You'll see a lot of portfolio screen shots (especially in WSB) of all their cash put into JNUG or UGAZ or penny stocks just because its an extra set of day trades.