Author
Topic: Broker Question
f8less
Member
Rate Member
posted 11-30-2005 11:11 AM
I'm using Ameritrade and was wondering if there are any other good brokers out there that provide equal service, but don't have this 3 days hold restriction before money becomes tradable again. -------------------- Not so "n00b" any more.
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lilpennypincher
Member
Member Rated :
posted 11-30-2005 11:16 AM
It is not an Ameritrade rule......It is the law. If you are trading in a cash account, you MUST allow that money to settle. If you get a margin account you don't have to worry about it. Good luck. -------------------- Lil, Dont LOSE more than you can afford to invest....LOL I'm buying low and selling into the run...
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f8less
Member
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posted 11-30-2005 11:57 AM
With a margin account can I have the margin, avoid the 3 day period, and just not use the margin itself? I hope that made sense. -------------------- Not so "n00b" any more.
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metal1
Member
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posted 11-30-2005 04:39 PM
no, your next purchase (assuming same day trades) would be on margin for 3 days until the other funds have settled.
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Machiavelli
Member
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posted 12-04-2005 08:59 PM
I dont seem to have that problem at Choicetrade.com lol ... -------------------- Let the world change you... And you can change the world. Ernesto "Che" Guevara de la Serna
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