A Day Trade occurs when you buy and sell the same stock or ETF within the same trading day. In other words, if you buy an asset and sell it on the same trading day, it counts as 1 Day Trade.
This concept is very important because, depending on your account type and available balance, there are specific limits and rules you need to be aware of.
What is the Day Trade counter in Hapi?
In the app, you’ll find a section that shows how many Day Trades you’ve made.
Each time you sell an asset that you bought on the same day, you’ll receive a notification and see your updated count.
You can also review the history of your daily trades in this section.
Day Trading rules for margin accounts
Users with more than USD 25,000 in equity (excluding crypto):
No Day Trade restrictions. They can trade as often as they want.
Prime users with less than USD 25,000:
Up to 3 Day Trades within a 5 trading-day period.
Non-Prime users with less than USD 25,000:
Can make 1 Day Trade per day, with a maximum of 1 within a 5 trading-day period.
What should you keep in mind?
If you reach your allowed Day Trade limit, you’ll still be able to buy stocks, but you won’t be able to sell them on the same day until the 5-day period resets.
These rules apply only to stocks and ETFs.
Cryptocurrencies are not included in Day Trading rules.
How can you increase your Day Trade limit?
If you trade with a margin account and have Prime, you get more flexibility to make Day Trades:
You go from 1 to 3 Day Trades in a 5 trading-day period if your equity is below USD 25,000.
You receive more advanced price alerts to better react to market movements.
You get better closing costs on your trades.
You benefit from lower fees on cryptocurrency trades.
Prime is designed for users who trade more frequently and want more tools and higher limits to manage their investments.