Alright, I understand with a cash account that it takes like 3 days for your funds to settle after selling a stock. Also with a margin account you can borrow against the amount of cash you have. So if I had $3,000 and bought a stock with my $3,000 and another stock for 3,000 using the margin and sell either or both stocks would i have to wait the 3 days for the money to settle with either or both stocks. Any info would be appreciated. Thanks
Posted by BuyTex on :
I doubt anybody gives you 100%--but as far as I know, they vary. That's truly a question for your particular broker...
Posted by keithsan on :
you can borrow but you have to be buying a marginable security. a "real stock" not a penny or an option.
if you buy and sell a penny your 3k will be available immediately.