I have set a paper account with 25000$. A week ago, I discover that its buying power become 0.
The equity has decrease to 24856$ during one day. But the equity is over 25000$ when I liquidate all position. And my current equity is $25,084.61.
Why my buying power become 0 and how I can solve the issue?
Additional info
I have tested different parameter in Configuration > Day Trade Buying Power Check: Block on Entry and Block on Exit. No effect.
In Balance > MARGIN REQUIREMENTS, Effective Buying Power is $0.00, whereas RegT Buying Power and Day Trading Buying Power isn’t null.
Account #: 687261288
Have you resolved this? I am having the same issue.
@David_P_Brazda You may need to contact support@apaca.markets. Paper accounts behave similar to live accounts regarding automatic restrictions if the account equity drops below $25,000. Live accounts are reviewed each day before markets open and any restrictions are manually reset at that time. However, paper accounts are not reviewed unless requested and any restrictions remain in place. Of course the simplest is to reset the paper account.
Thanks for quick reply. This paper account is PDT, 100k initial balance, margin 4:1. Yesterday I used almost all margin for LONG position, which I closed today. Now I have 104k on cash, but there is no buying power. If i understand correctly even yesterday there still was more than 25k equity. How could this happen? And will this happen in live account?
I got quick reply from the support team, maybe it will help someone in the future.
It looks like your Paper account equity was below your maintenance margin requirements on 2023-01-19, which would put you in a house call. Because your Paper account is flagged as a Pattern Day Trader account, when you receive a house call, your account is immediately restricted to liquidation. Moving forward, please ensure that your equity balance is always higher than your maintenance margin requirements at the end of the day.