As of June 4, 2026, FINRA and the SEC replaced the old pattern day trading (PDT) rules with new intraday margin standards. This means:
There is no longer a "pattern day trader" designation, and you will not be flagged or restricted based solely on the number of day trades you make.
The $25,000 minimum equity requirement for pattern day traders no longer applies.
There are no limits on how many day trades you can make in a given period.
These changes apply to all margin accounts at Public. Cash accounts are not subject to margin rules. Standard margin requirements still apply to your positions, and accounts that fall below them may become subject to trading restrictions