Can you daytrade in an 401k/IRA account

Quote from Haroki:

Yeah, that wasn't real clear. Sorry.

No matter what type of account you have, whether cash or IRA, you need $25k in it to avoid the PDT rule. AFAIK.
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PDT rules apply to margin accounts only. Some brokers enforce the rule properly, some enforce it on all (cash and margin) accounts, which is wrong.

The bigger problem is with T+3 if you're trying to daytrade stock in a cash account and is the only real thing that prevents you from doing it to any real successful means(IMO). Options are a bit easier to daytrade in a cash account and you wouldn't be breaking any rules if you're under 25k.

I don't know anything about IRA/401k stuff.
 
Quote from Haroki:

I think different brokers have interpreted this differently.

IB lets me daytrade all I want in my IRA.

The way I understand it, while they can't "loan" you margin money to increase buying power, they will "loan" money so you don't have to wait for the 3 days to pass.

What that means is if you have $30k in your IRA, at no time will you ever be able to hold more than $30k in securities, but you can churn it all you want.
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Thank you thank you thank you .... I will never hold more than what I have available in the account. But I need daytrading allowance. And yes it's more than $25Kin balance. Looks like IB will get my business.
 
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