Aries has implemented the recent FINRA rule changes replacing the prior Pattern Day Trader requirements with updated intraday margin standards.
Because of this change, Aries no longer applies the former Pattern Day Trader designation, day-trade count restriction, or $25,000 PDT minimum equity requirement.
However, margin accounts are still subject to intraday margin requirements and firm risk controls. If your account does not meet applicable margin requirements during the trading day, your account may be subject to an intraday margin call, trading restriction, liquidation, or other account limitation.
Why did I receive an intraday margin call?
An intraday margin call may occur when your account does not have enough equity or eligible collateral to support your trading activity or open positions.
This can happen because of factors such as:
- Opening new positions that exceed your available buying power
- Market movement that reduces your account equity
- Concentrated or volatile positions
- Increased maintenance requirements
- Trading activity that creates an intraday margin deficiency
- Firm risk controls or house margin requirements
Is this the same as a PDT day-trade call?
No. The former PDT day-trade call framework no longer applies at Aries.
Intraday margin calls are based on margin and risk requirements, not on the prior PDT designation or the former four-day-trade count rule.
What should I do if I receive an intraday margin call?
You may need to deposit additional funds, reduce positions, or otherwise bring the account back within applicable margin requirements.
Aries may also restrict trading or liquidate securities in your account without prior notice if your account does not satisfy margin requirements. Please review your margin agreement and margin risk disclosures for more information.