Stash Day Trading

Stash Day Trading (PDT) Limit. Can I Day Trade on Stash?


Pattern day trading rules at Stash. Active trader PDT requirements and limits for margin and cash accounts above/below $25,000 balance. How many day trades does Stash allow.


Pattern Day Trading at Stash


Stash Invest is not a day trading platform—they believe investing is a habit, not a hobby. The majority of Americans aren’t going to trade their way out of debt. Stash was built to help anyone build a diversified portfolio over time and invest for the long haul.

Stash Invest has four trading windows per day and do not believe in intra-day day-trading unless you are a professional. If you do buy and sell the same stock on the same day on Stash, your account may be restricted.


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Great Broker For Day Trading


Webull is a low-cost brokerage firm that offers most services (but not all) for free. It's a great broker for day-trading. Here are the details:


Account Maintenance and Funding


Webull charges no fees at all to open, maintain, or close an account. The broker imposes no deposit requirement or on-going minimum balance requirement. There are no fees to deposit or withdraw funds by ACH. However, if an ACH is returned for any reason, Webull does charge a $30 reversal fee.

Webull has a wire fee. Withdrawing funds by wire to a US-based checking or savings account costs $25. If the bank account is overseas, the wire fee is $45.

Webull is one of the few financial institutions we know of to charge a wire fee for incoming transfers. Sending a deposit by wire into a Webull brokerage account will set you back $8. If the wire comes from a foreign bank account, the fee is $12.50.

If you ever decide to transfer your Webull account to another broker, you’ll have to fork over $75 to do so. Webull doesn’t charge anything for an incoming transfer.


Software Fees


Some brokerage firms charge for software or have trading or account minimums to access desktop programs. TradeStation, Interactive Brokers, and E*Trade come to mind. This is not the case at Webull. The brokerage firm charges no fees and imposes no trading minimums to use any of its software.


Commissions


This is where the question becomes a little trickier. Webull customers pay $0 for stock, option, and ETF trades. The firm is compensated for order flow, though. This is an industry standard. Brokers send orders to market makers, who then compensate the sending broker a small amount per share. These market makers earn money off of the bid-ask spread on the security.

Going from an industry standard to an industry rarity, Webull has no per-contract option fee. This is the ultimate in options budget trading, although derivatives do have bid-ask spreads just as equities do. Webull charges no exercise or assignment fees, another ultra-low-cost feature.

Some low-cost brokers (like Fidelity, eOption, and tastyworks) do charge some fees on option trades.


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Margin


Although Webull has done a good job thus far, it does have to make money somehow. Borrowing money for trading purposes is not free at Webull. It charges for margin debits on a sliding scale ranging from 6.99% to 3.99%. To get to that lowest price, you have to borrow more than $3 million. Most traders obviously will be around 3.99%.


Is Webull free


Exchange and Regulatory Fees


Like most other brokerage firms, Webull passes through exchange and regulatory fees to its customers. These are typically very small amounts per trade; but if you trade frequently, they can add up.

Here are some examples:

SEC stock and ETF fee: $0.0000051 × Trade Amount (Min 1¢, sell side only)
Options Clearing Corp: $0.045 × Number of Contracts (Max $55 per trade, buy and sell sides)


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Other Fees


If you short a stock at Webull, you can expect to pay some fees to do so. Whenever you take a short position, you have to borrow a financial asset, and anytime you do this, you get charged a fee. Webull’s fee varies by security and even by day. Although typically quoted on an annualized figure, Webull assesses the rate on a daily basis.

If you decide you need a hard-copy statement, prospectus, or trade confirmation, Webull will charge for this service:

Paper statement: $5
Paper trade confirmation: $2
Paper prospectus: $2.50


Is Webull Free Recap


Webull is free for most users. If you want to borrow money from the broker they will not do it for free.


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About the Author
Chad Morris is a financial writer with more than 20 years experience as both an English teacher and an avid trader. When he isn’t writing expert content for Brokerage-Review.com, Chad can usually be found managing his portfolio or building a new home computer.