Day trading rules apply to U.S. stocks/ETFs, stock/index options, bonds and singe stock futures. In order to have unlimited day trading privileges, the account Securities Net Liquidation Value needs to be at or above 25,000.00 USD or USD Equivalent.
An account that is below 25,000.00 USD and not classified as a Pattern Day Trader, will be restricted on the number of day trades allowed in a rolling five day business period. Your client will only allowed 3 day trades in total within a rolling five day business period. Once the client has done their 3rd day trade, within a rolling five day business period, the account is locked out from initiating a new position trade. The restriction period is 5 business days starting from the first day trade.