posted
I just opened Ameritrade Canada account a week ago and used it for the first time this past Friday. Up until now I've been using TD Waterhouse and Scotia McLeod.
My question is regarding usage of unsettled funds. I bought and sold twice on friday, so I made two roundtrips. The thing is that both times after I sold ALL money was available right away. It was available as buying power, as cash, and as account value. There was no waiting period (3 days) or any restrictions.
This was the case with Scotia McLeod but not with TD Waterhouse.
I also found out that SEC Daytrading rule that requires people who are considered daytraders to have $25,000 in their account does not apply to Canadians..so maybe that's why there was no restrictions..another difference?
Just curious.
-------------------- Money was never a big motivation for me, except as a way to keep score. The real excitement is playing the game.
IP: Logged |
posted
I have Ameritrade and they let me trade everything. However, I now have that crap where I have to wait 3 days from initial purchase to have the funds available for buying.
example:
Monday I buy x stock...tuesday I sell it...I can't use the money until Wed...sometimes thursday.
However, I can sell it once my 3 days are up and use the money I just sold it for and buy whatever right then and there.
Back in 2002 when I started day trading...They didn't have that 3 day rule...that was right before they merged with DATEK.
IP: Logged |
posted
RIman....for at least 2 weeks recently ,,,I sold ,, bought,,,sold,the same day,,,, money was there the next morning ready to trade with..Then yesterday I broke a personal rule and did a fast trade on a pink...I made money, but now those funds are not available for 2 more days....I called ameritrade and the broker told me if the cash says avail. for trading TRADE!!!!
posted
If you trade OTCBB cash is available right away, that's the case with my ameritrade account. If you trade pinks they make you wait..but I can't even trade them.
Now this shouldn't be like that because there should be a 3 day waiting period no matter what, for funds to settle, unless you have a margin account.
Everything I say applies to CANADIAN BROKERS since I'm in Canada.
-------------------- Money was never a big motivation for me, except as a way to keep score. The real excitement is playing the game.
IP: Logged |
posted
I just called Ameritrade Canada and they are working on upgrading their platform so in the near future I should be able to trade pinks too! This is scheduled for July/August.
-------------------- Money was never a big motivation for me, except as a way to keep score. The real excitement is playing the game.
IP: Logged |
posted
So if i sold on friday and had unsettled cash when would the funds become available? 3 buisiness days or monday morning?or what? I use ameritrade in the U.S.
-------------------- Organizations are perfectly dezined to get the results that they get.
IP: Logged |
posted
For Canadian CASH acccounts money is available right away, and you can use it over and over (even same day). That's the account I have and I had no problems with it.
-------------------- Money was never a big motivation for me, except as a way to keep score. The real excitement is playing the game.
IP: Logged |
quote:Originally posted by Wolfeyes: MMH i can trade pinks with my ameritrade canada account , can you at this time ?
You can? I can't and I was told that once Ameritrade Canada upgrades their platform and becomes same as Ameritra USA then we'll be able to trade pinks, sometimes in August.
-------------------- Money was never a big motivation for me, except as a way to keep score. The real excitement is playing the game.
IP: Logged |
posted
I have pinksheet stock at this time in my account , and the guys have says me before i open an account that i can trade pink. I have send my pink stock certificate and they have add in my account. If i cant sell i will be very hunappy because the guys have tell me that i will can.
IP: Logged |
posted
Try to sell or buy pinks. I was told once that I can trade pinks but then another rep told me I can't. Then when I opened the account and tried to buy some pinks I wasn't able to.
-------------------- Money was never a big motivation for me, except as a way to keep score. The real excitement is playing the game.
IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
