Robinhood announced that they are about to launch Robinhood Instant which is supposed to eliminate the need to wait for 3 days before utilizing your funds. It is supposed to allow you to immediately use funds from a closed transaction to enter a new position. It will be interesting to see if this actually works. I'm not sure if the PDT rule is going to prohibit this or if they may have found a way around it, we'll see...
technically this is a start up, and on their website they even state that they will eventually begin offering leverage, shorting and options to their program
also, you can still day trade, just within PTD guidelines. @tooony619 , do some research
Basically the new Robinhood Instant doesn't do much for those with small accounts, which I'm assuming 90% of its' users are. Now instead of waiting for executed funds to come back to you account, the PDT rule applies so it really makes movement even more limited.
FAQ on Robinhood Instant - It's a limited margin account. You're credited only the exact amount of your stock sale. Cash deposits are capped to $1000 for instant availability. Must wait for more cash to clear. Must follow PDT rule. http://bit.ly/1S2iYSY
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