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Finra
2 guides in Finabase Learn
- Options risks and approval levels: what brokers check and why How US brokers approve options accounts under FINRA Rule 2360, what approval tiers usually allow, and the main risks: leverage, undefined loss and liquidity.
- Pattern day trader rule: the legacy PDT test and the 2026 replacement How the old PDT rule counted day trades, why FINRA replaced it with intraday margin in June 2026, and how to tell which version your broker still applies.
Educational content, not investment advice. Finabase Learn explains how markets and tools work. It does not recommend any security or strategy, and examples are for illustration only. Investing involves risk, including the loss of principal. Rules and figures are for the United States unless stated and can change — check the cited source before you act.