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How will fortunetrader and Penson know if my account is a Day Trading account?

April 26, 2017account day trading fortunetrader my account penson

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How will fortunetrader and Penson know if my account is a Day Trading account?

1 Answer

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10 Posted

Penson and fortunetrader will run a query to see which customers meet the day trading definition criteria. On a daily basis, the trading activity in each individual account will be assessed to match and calculate the number of day trades for that day. This information will then be combined with the previous 4-business day’s day-trades to determine the status of the account.