posted
suspension of account for 90 days, investigation and possible fines it happend to me they freeze all your assests and recoup the money before they let you trade again
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Scottrade will allow you (apparently) 2 free rides before they freeze you to only using cleared funds for 90 days. A third free ride will get you frozen permanently.
What's interesting is, some brokerages will freeze you as soon as you sell that second stock, NOT when the 3 days are up. Scottrade doesnt do that. If you sell the 2nd stock, you have to deposit before the 3 days are up, that's all.
quote:Originally posted by GTOGTOGTO: suspension of account for 90 days, investigation and possible fines it happend to me they freeze all your assests and recoup the money before they let you trade again