CHICAGO--(BUSINESS WIRE)--Jun 4, 2026--
tastytrade, the online brokerage firm created by traders for self-directed investors, today marked the end of the Pattern Day Trading (PDT) rule by opening the door to a new generation of active traders – backed by new survey data showing more than half of active traders expect a significant impact, and by years of building tools and education to help them navigate it.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260604754292/en/
The survey found active traders anticipate real consequences from the change:
For 25 years, the PDT rule required a $25,000 minimum account balance for anyone executing more than three day trades in a rolling five-business-day period. As of June 4, that requirement is gone, replaced by a modern, risk-based intraday margin framework tied to a trader's actual market exposure. tastytrade is implementing the new standards on day one.
What’s Actually Changing and Who It Affects
A day trade is opening and closing the same position within the same day – buying and selling the same stock, ETF, or option. Under the old rule, doing that more than three times in five rolling business days required $25,000 in equity at all times, locking out otherwise capable traders simply for falling under this dollar line.
That line is now replaced by an exposure-based framework: buying power scales to the real risk of a trader’s positions, monitored throughout the day, rather than to a flat equity floor. The change doesn't eliminate margin discipline – it replaces a blunt threshold with controls that reflect how risk is actually managed today.
The Rule Penalized Real Traders – Not Just “Risky Ones”
The data shows the PDT rule was actively reshaping the behavior of experienced, capitalized traders, not only sidelining newcomers:
Access Is Only Half the Story: Many Traders Want Guidance
Enthusiasm is high, but among those who plan to change their trading behavior, only 25% of traders feel “very confident” trading in the new environment, while 56% say they would welcome more guidance on adapting their strategies. That gap is exactly where tastytrade is built to help. tastytrade streams tastylive’s market education every single trading day, their financial content and education platform affiliate – and tasty live regularly provides data to traders to help them manage options positions before expiration to potentially improve probability of success, the kind of data that matters more, not less, in a more open market.
“For 25 years, a single dollar amount decided who got to trade actively and who didn’t. That line is gone – and that’s a real opening for traders who were ready all along,” said Pete Mulmat, Head of Brokerage, tastytrade. “But access without know-how isn’t opportunity, it’s risk. We’ve spent many years building the platform tools and education through tasty brands to close that gap, and many traders are telling us they want exactly that. That’s what tastytrade delivers, every single trading day.”
“For decades the line between a retail trader and an institutional one was drawn in dollars and access. tastytrade has spent years erasing it – putting professional-grade execution and real-time analytics in every trader’s hands, free, at any account level,” said Michael Vaughan, CEO, IG North America. “This rule change removes the last artificial barrier. The next generation of traders is ambitious, digitally native, and ready to compete, and for the first time they can do it on the same footing as the pros. tastytrade was built for exactly this.”
Survey Methodology
This survey was conducted online May 20-25, 2026 among a nationally representative sample of 1,057 U.S. active retail traders, in conjunction with Dr. Michele Madansky. Active retail traders are defined as adults 18+ who trade stocks or equities at least once every three months and hold over $1,000 in investable assets.
For more information on the survey findings, visit https://tastytrade.com/june4/.
*90-day freeze still applies under the new intraday margin standards.
About tastytrade
tastytrade is an award-winning brokerage firm established in 2017 to change the way people invest. tastytrade empowers investors seeking to actively manage their own money with a powerful platform and access to educational content for stocks, options, and futures trading. tastytrade is a subsidiary of IG US Holdings, Inc., parent to tastylive, the financial content and education platform; tastyfx, the fastest-growing forex broker in the United States; tasty Software Solutions, LLC; and a subsidiary of IG Group Holdings plc (LON:IGG), a global fintech company that provides award-winning products, platforms, and access to ~19,000 financial markets to investors around the world.
Learn more at www.tastytrade.com.
PDT Rule Removal Impact
PARIS (AP) — Maja Chwalinska of Poland became just the second qualifier to reach a Grand Slam singles final in the Open Era when she beat Diana Shnaider of Russia 7-6 (4), 6-4 on Thursday.
The 24-year-old Chwalinska has a chance to match Emma Raducanu’s title run at the 2021 U.S. Open when she plays Russian teenager Mirra Andreeva in Saturday's final at Roland Garros.
According to stats provider Opta, Chwalinska and Raducanu stand alone among men and women in having reached a major singles final from the qualifying rounds since the Open Era began in 1968.
Chwalinska's run saw her advance through three qualifying rounds to enter the main draw and play in just her third Grand Slam. Her best result at a major before this was the second round at Wimbledon in 2022. Polish countrywoman Iga Swiatek has won the French Open four times.
The 19-year-old Andreeva reached her first Grand Slam final by beating Marta Kostyuk 6-1, 6-3 earlier Thursday on Court Philippe-Chatrier.
Andreeva could see even the smallest details on the ball.
“I was seeing the little hairs on the ball when I was tossing or playing (shots),” Andreeva said. “I was really, really focused today.”
Andreeva, who is seeded No. 8 and lost in the semifinals two years ago, converted her first match point when serving for the victory.
She clearly feels comfortable at the French Open, which she describes as a “cozy” tournament because she sees familiar faces every year, and enjoys her time in Paris.
“I really like to walk around the city, to go into those little restaurants on the street,” she said. “I also speak a little bit of French, so I try to sometimes talk to people in French.”
There was no post-match handshake between Andreeva and Kostyuk — and the Ukrainian walked off quickly, turning only to wave and blow kisses to the crowd.
The atmosphere beforehand was somewhat tense as the players had separate photos taken as they each stood next to two children on their respective side of the net. Usually the players pose for the same photo, standing right next to each other by the net.
Kostyuk and countrywoman Oleksandra Oliynykova have spoken out during the tournament about the impact Russia's invasion of Ukraine is having on their country.
The No. 15-seeded Kostyuk said defeat won't linger given how much support she felt from fans during her matches in Paris.
“I will never forget the ovations I received after my match in quarterfinals. This is something I will carry with me forever,” she said. “I feel like this is the highlight of my tournament."
Andreeva saved three break points at 0-40 in her opening service game, then raced into a 4-0 lead with a flurry of blistering forehand winners. There was a big cheer when Kostyuk held serve in the fifth game, but the Ukrainian then handed Andreeva the first set when her backhand hit the net.
The semifinal began at shortly after 3 p.m. with an open roof, like on Wednesday when beaten quarterfinalists Aryna Sabalenka and Anna Kalinskaya complained of swirling wind on Chatrier and said the roof should have been closed.
It was closed toward the end of the second set of Thursday's semifinal, offering Kostyuk better conditions for her clay-court game. She broke back to trail 4-3 but dropped her next service game and the comeback ended almost as briefly as it began, along with Kostyuk’s 16-match winning streak on clay.
AP tennis: https://apnews.com/hub/tennis
Poland's Maja Chwalinska reacts after winning the semifinal tennis match against Russia's Diana Shnaider at the French Open in Paris, Thursday, June 4, 2026. (AP Photo/Emma Da Silva)
Poland's Maja Chwalinska react after winning during the semifinal tennis match against Russia's Diana Shnaider at the French Open in Paris, Thursday, June 4, 2026. (AP Photo/Thibault Camus)
Russia's Mirra Andreeva poses with children while Ukraine's Marta Kostyuk refused to join before the semifinal tennis match at the French Open in Paris, Thursday, June 4, 2026. (AP Photo/Christophe Ena)
Ukraine's Marta Kostyuk walks off the court after the semifinal tennis match against Russia's Mirra Andreeva at the French Open in Paris, Thursday, June 4, 2026. (AP Photo/Christophe Ena)
Russia's Mirra Andreeva reacts after winning during the semifinal tennis match against Ukraine's Marta Kostyuk at the French Open in Paris, Thursday, June 4, 2026. (AP Photo/Thibault Camus)
Fans supprtUkraine's Marta Kostyuk during the semifinal tennis match against Russia's Mirra Andreeva at the French Open in Paris, Thursday, June 4, 2026. (AP Photo/Emma Da Silva)
Russia's Mirra Andreeva reacts after winning the semifinal tennis match against Ukraine's Marta Kostyuk at the French Open in Paris, Thursday, June 4, 2026. (AP Photo/Emma Da Silva)
Russia's Mirra Andreeva returns to Ukraine's Marta Kostyuk during the senifinal tennis match at the French Open in Paris, Thursday, June 4, 2026. (AP Photo/Emma Da Silva)
Ukraine's Marta Kostyuk serves to Russia's Mirra Andreeva during the semifinal tennis match at the French Open in Paris, Thursday, June 4, 2026. (AP Photo/Emma Da Silva)
Russia's Mirra Andreeva poses with children while Ukraine's Marta Kostyuk refused during teh senifinal tennis tennis match at the French Open in Paris, Thursday, June 4, 2026. (AP Photo/Christophe Ena)
