Online Broker and 90 day restriction?

I started day trading with $3,000 and built it up to $43,000 in equity in only 6 weeks time by buying and selling individual stocks. The firm started giving me a day trading buying power recently with a higher amount. I used some day trading power and sold the positions the next day. They told me my account is now restricted from trading for 90 days. Since I earned such great gains I will miss doing this trading. Is there anyway I can get around this 90 day restriction? Should I ask for a check for my account value and send it to another online firm or what?

Public Comments

1. how much cash do u have? u need to have at least 25k ...if this is ur second time, it is hard to get remove, unless you got 25k..you can day trade anytime you want

you still need to talk to ur broker.. if this is ur first time, they might able to help you to remove PDT status for you...I had same experience. first time got banned, then i filed a form, two days later, they unflagged me.

2. Sounds like you have free-ride rule breaks.
If your account is not yet officially a margin account, apply to make it one. You will get more flexibility/buying power, although there is no requirement that have a margin balance.
You can keep if fully funded at all times if you wish.

Don't know if getting "margin" status will remove the trade-restrict status.

3. Contact your broker immediately for lifting the restriction.
Apply for a margin account and have a balance of $25,000
then I think you good to go again~