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Author Topic: Broker Question
f8less
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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.

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Not so "n00b" any more.

Posts: 225 | From: Chicago | Registered: Oct 2005  |  IP: Logged | Report this post to a Moderator
lilpennypincher
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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.

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Lil,

Dont LOSE more than you can afford to invest....LOL

I'm buying low and selling into the run...

Posts: 8024 | From: Joisey....see attitude above | Registered: Jan 2004  |  IP: Logged | Report this post to a Moderator
f8less
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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.

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Not so "n00b" any more.

Posts: 225 | From: Chicago | Registered: Oct 2005  |  IP: Logged | Report this post to a Moderator
metal1
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no, your next purchase (assuming same day trades) would be on margin for 3 days until the other funds have settled.
Posts: 1045 | From: novato,ca,usa | Registered: Aug 2003  |  IP: Logged | Report this post to a Moderator
Machiavelli
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I dont seem to have that problem at Choicetrade.com lol ...

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Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

Posts: 4669 | Registered: Mar 2004  |  IP: Logged | Report this post to a Moderator
   

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