During a past disscussion in this group, I questioned whether I could day trade a cash account valued over $25,000. Example: Take the proceeds of prior transactions, apply them to new transactions and repeat this over and over, without ever exceeding the value of the cash account. Opinions varied from yes, you can do that, to no, you can not do this because of the "freewheeling restrictions", unless you have a margin account. Well the final answer is you can not freewheel at IB. My first question, is this a policy of the brokerage firm or a SEC rule? Prior to IB, I traded with Ameritrade and freewheeling there was permitted. I spoke to a IB rep. and was told that with a margin acct, I could day trade the value of my account and not incur any margin costs. Is this true? And if not, do the margin costs appear on my daily acct. summary?