Pattern day trader rule change takes effect June 4, 2026

Robinhood HOOD Equities and ETFs trading

The FINRA Rule 4210 amendments approved in April took effect on June 4, 2026, ending the pattern day trader framework and its $25,000 minimum for margin accounts. Brokers must now track intraday margin deficits for all margin customers, and firms that need system changes have until October 20, 2027. For Robinhood, the rule change affects how active traders can use margin and day-trading buying power.

Effective date June 4, 2026
Day-trading buying power calculations replaced by intraday margin monitoring
Phase-in for firms that need system upgrades ends October 20, 2027

HOOD around the story · hourly24 h reaction ▼ 4.75%

Moves this explains

HOOD+7.90%Jun 3 · Robinhood rose 7.90% on 2026-06-04, the day the SEC-approved intraday margin framework replaced the pattern day trader rule and its $25,000 minimum requirement ended. The same day Robinhood launched World Cup event contracts, while the S&P 500 rose 0.48% and Broadcom fell about 14% on AI guidance.

Source

WilmerHale client alert

Jun 4, 2026

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