I didn't realize that. Maybe the SEC is getting tougher on the brokerages.
I recently opened an IRA account at TradeStation, and, boy, are they tough. They apply both the PDT rules AND the no reuse of money 'til trade clears. None of my other brokerages go that far. Most limit you in IRAs to no reuse of the money, but do not restrict the number of trades you can do with cash available that morning. IMO, TradeStation goes overboard in applying these rules, but it appears there is much confusion in the brokerage houses as to exactly what applies and what doesn't. I argued with TS that since this was not a margin account the PDT rules did not apply, but in their opinion they do!
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