Robinhood, Webull and Interactive Brokers could benefit as the Pattern Day Trader rule officially ends for accounts under $25,000. The SEC approved FINRA’s elimination of the PDT designation and its $25,000 minimum equity requirement in April, with the new intraday risk-based margin framework taking effect Thursday. For 25 years, traders with margin accounts who made four or more day trades in five business days were flagged as pattern day traders unless they kept at least $25,000 in the account. Robinhood $HOOD leaned heavily into the change, saying it would wipe past PDT flags clean and remove day-trading limits for eligible customers. The rule change directly targets Robinhood’s core base of smaller active traders. The company has 27.4 million funded customers, $623 million in Q1 transaction-based revenue and a $17 billion margin book. Webull $BULL may have even more direct exposure. U.S. CEO Anthony Denier said removing the threshold eliminates an arbitrary wealth barrier and could drive at least a 20% increase in transaction volume over time. Webull’s average account size is just under $5,000, meaning many users were previously constrained by the old rule. Interactive Brokers $IBKR confirmed it is ready for the rule change, though its wealthier and more institutional client base may be less directly affected. The takeaway: the PDT rule’s end could unlock more small-account trading activity, with $HOOD, $BULL and $IBKR all watching for higher volumes.