™A trader should ask which regime their broker currently uses: the old PDT requirements may still apply during the transition ending October 20, 2027.
Trading
Pattern day trader
A former U.S. margin-account designation based on day-trade counts. FINRA replaced the former pattern-day-trader and $25,000 minimum-equity requirements with intraday margin standards effective June 4, 2026; brokers may retain the old rules during transition through October 20, 2027; verify the regime and house requirements at your broker.
Plain-English context
Why it matters
The former U.S. pattern-day-trader designation and $25,000 minimum-equity rule were replaced by FINRA’s intraday margin standards effective June 4, 2026. Brokers may continue the old PDT rules until they transition, no later than October 20, 2027, and may impose stricter house requirements.
During the regulatory transition, verify which regime the broker actually implements; house restrictions may be stricter.
Further reading and verification. Examples are hypothetical, not current quotes or recommendations. Product terms, tax treatment and market rules can change. FINRA Regulatory Notice 26-10