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Author Topic: broker wait periods for deposits?
Stocktrader20
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Do all online brokers such as ameritrade make you wait 5 days after you deposit your money before you can trade non-marginable securities(otc and pk stocks)? Its been a while since ive done any trading I was wondering if this rule was still in effect?
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imakmony2005
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Wire transfer gos right in, check sent by mail 3 to 5 days.
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AgentGPF
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I'm not aware of any such rule.

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Well done is better than well said. Ben Franklin
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STOCKMOVER
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Ameritrade, yes, a FULL 5 business day wait, it should be available on the 6th day for non-marginable securities.

The wire method is available immediately.

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--STOCKMOVER--
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Stocktrader20
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Im depositing from my bank savings account electronically. I remember in the past the money was available the next day to trade but, I had to wait 5 days I believe to trade otc stocks and pk but, I could trade all other stocks though. I didnt know if this was still the rule or mot. Seems pretty pointless to me.
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kinglupid
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I have worked for two online brokerages and they both have the wait. 5 day wait on an ACH bank transfer, 10 day wait on a personal check. This is for non-marginables, like pennies and stock options.
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leavenart
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Scottrade is like twenty four hours on a money order. Put it in before four o'clock and it's good by two pm. next day.

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If you don't have instincts, get out. If you do; go with them.
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Machiavelli
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as far as i know.. most places do not accept Money Orders.. they accept either a personal check or a Cashier's check.. <shrugs> ...

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

Ernesto "Che" Guevara de la Serna
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