Clients with existing Lightspeed cash accounts may request, contact support, an upgrade to a margin account, subject to account eligibility, approval requirements, and applicable regulatory standards.

To request a margin upgrade, clients may be required to:

• Complete a margin account application or agreement
• Meet applicable minimum funding requirements
• Satisfy suitability and risk review requirements
• Provide any additional documentation requested during the approval process
• Once approved, the account may become eligible for intraday buying power and margin-enabled trading under the updated intraday margin framework.

The new intraday margin standards under FINRA Rule 4210 modernize the previous Pattern Day Trader (PDT) framework and introduce a more dynamic, risk-based approach to intraday margin requirements.

The updated intraday margin standards became effective on June 4, 2026, with the legacy PDT framework expected to fully sunset on October 27, 2026.

Yes. The former Pattern Day Trader minimum equity requirement is being retired as firms transition to the updated intraday margin framework.

Yes. Brokerage firms may continue to establish platform-specific minimum funding requirements, margin eligibility standards, and risk controls.

Buying power may be calculated dynamically throughout the trading day based on:

• Account equity
• Open positions
• Market volatility
• Concentration risk
• Security-specific requirements
• Real-time gains and losses

• Yes. Intraday buying power may increase or decrease throughout the day as market conditions and account exposure change.

• Yes. Overnight margin requirements are generally more restrictive than intraday requirements and may require additional account equity.

• No. Certain securities may carry elevated margin requirements based on volatility, liquidity, concentration, or firm risk policies.

• Yes. Brokerage firms may liquidate positions without notice if accounts fail to meet margin requirements or exceed risk thresholds.

• No. Margin trading remains highly risky and can result in losses greater than the original investment.

• FINRA has published investor education materials and interpretive guidance relating to the new intraday margin standards under Rule 4210.

No. Not all Lightspeed platforms will be ready for the transition on June 4, 2026. Platform availability, margin eligibility, account minimums, and intraday buying power may vary by platform.

Clients should review the platform-specific requirements here and contact Lightspeed Client Services with questions about account eligibility or transition timing.

Platform availability and requirements are subject to change based on regulatory guidance, platform readiness, and firm risk controls.