Accounts with a net value below $25,000 can only operate 3 T+0 trades in 5 consecutive trading days.
If an account's net value drops below $2,000, it will only function as a limited margin account, i.e. the account can still operate T+0 trades (subject to maximum 3 T+0 trades within 5 consecutive trading days), but the account cannot utilize margin funding.
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