With scottrade you can trade using unsettled funds as long as you dont sell until the settlement date of the previous sell, is this true of choicetrade and etrade as well or do they not allow you to trade on unsettled funds?
Posted by T e x on :
Scottie lets you buy with unsettled funds, but you can't sell until that transaction settles; actually, you can...but you get hit with the "Free Ride" notice. After three of those, as I recall, that's when you get into trouble...The few times I've needed to do that, I simply popped in the local branch and wrote a check to cover... Choicetrade seems a little stricter; seems like there's no access to unsettled funds, but I'm not certain about that...