PDT rule change 2026
FINRA approved replacing the pattern day trader (PDT) rule and its $25,000 minimum equity requirement with intraday-margin requirements, effective June 4, 2026. Brokers may phase the change in through October 20, 2027, so some brokers still enforce PDT limits. Check with your broker.
The old rule, briefly
Under the pattern day trader rule, a margin account with 4+ day trades in 5 business days (and over 6% of its trades) was flagged as a pattern day trader and needed $25,000 in equity to keep day trading.
What changes
- The fixed PDT designation and $25,000 minimum are replaced by intraday margin requirements based on actual positions and risk.
- The effective date is June 4, 2026, but brokers can implement it on their own timeline through October 20, 2027.
- Until your broker switches, its existing PDT restrictions may still apply.
What to do
- Check your broker's announcements or help center for their implementation date.
- Keep counting day trades while your broker still enforces PDT: use the free PDT calculator.
- Don't treat the change as more buying power to use. Risk per trade still decides drawdowns (see the math).
Sources: FINRA investor guidance on day trading and FINRA Regulatory Notice 26-10. Your broker's own rules are authoritative.
FAQ
Is the PDT rule gone in 2026?
FINRA approved replacing the pattern day trader (PDT) rule and its $25,000 minimum equity requirement with intraday-margin requirements, effective June 4, 2026. Brokers may phase the change in through October 20, 2027, so some brokers still enforce PDT limits. Check with your broker.
Does my broker still enforce PDT?
Possibly. Brokers can phase in the change through October 20, 2027, so check your broker's current policy.
What replaces the $25,000 minimum?
Intraday margin requirements based on the positions and risk in your account, as implemented by your broker.
Educational content, not financial advice. Updated 2026-10-16.