FINRA rules define a “pattern day trader” as any customer who executes four or more “day trades” within five business days, provided that the number of day trades represents more than six percent of the customer’s total trades in the margin account for that same five business day period.
I have several questions:
Does this rule apply to non-US citizens (or non-US residents)?
Does this rule apply if you are not trading from a margin account?
Basically, I just want to know if any non-US person can day trade US equities with a non-US broker if they have an account value of less than $25,000.