Question About Daytrading Restrictions in an IRA

[ryanp37 10]

I have always heard that if you have less than 25K in your brokerage account you must keep same day buy sells to 3 or less over a 5 day period. I have an IRA brokerage account with over 25K in the account. Am I subject to the 3 trade 5 day thing? Will I get a nasty gram from my brokerage if I exceed that? I have read somewhere that the only restriction is that you need to use settled funds but I don't know if there's any unique caveats given that its an IRA. Any insight would be greatly appreciated.

 

Thanks!

[sevensa 10]

As far as I know, the rule is only relevant if you trade on margin. Since you are not allowed to trade on margin in an IRA account, the rule is not applicable.

[nickm001 10]

it depends on the broker... some require you to settle the trade. Some are "giving" you trade profit/losses immediately ( like IB) and there are no restrictions on how often you can trade,