posted
i try to place an order for a pinky and it says "funds not available for this transaction of a non-marginable security." It says i have $502 available to trade............whats the problem here?!
-------------------- drummer. rock and cash all that matter.
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posted
In your funds for trading you have: Avail. funds for trading $XXX Non-marginable funds $XXX
Do you have $502 in both?
-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes.
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-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes.
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quote:Originally posted by sbrcow: i try to place an order for a pinky and it says "funds not available for this transaction of a non-marginable security." It says i have $502 available to trade............whats the problem here?!
If you have a cash account, you won't be able to buy OTC (pinks or OTCBB) until your account says those funds are available to withdrawal (3rd business day after you put the funds in, if you used ACH). You could, however buy NASDAQ stocks, for example.
Vagabond
-------------------- You are what you do, not what you say!
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posted
When you deposit funds in your account, you have to wait five days to trade in non-marginable funds even if you don't have a margin account. The pink-sheets are non-marginable funds.
Also, you can only cycle your money once every three days, so if you buy and then sell a stock in less than three days, you have to wait for the money to become available.
The important number is not the cash available (top line), but the non-marginable funds (second from bottom).
-------------------- Me Trade Pretty One Day.
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posted
If you wire the money in it is able to be used for non-marginable trades immediately. I just did it a week ago and called to verify before I did.
-------------------- - "Pay it Forward"
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Vagabond
