I use Scottrade as my stock trading company. When I sell stocks, they make me wait three days until the trade settles. After the three days, I can then buy stocks again. Is there any other stock trading company like Ameritrade, Etrade, Charles Schwab, FXCM, etc... that doesn't do this?
No. This is not a stock trading company rule. This is an SEC mandate which means every online brokerage firm does this. If you trade with cash, then you have to wait three days after the sell to allow the trade to settle.
You can bypass this by opening up a "margin" account with your brokerage firm. With a margin account, you don't have to wait three days for the trade to settle. But even with a margin account, you can make more than 3 consecutive trading pairs with in a 5 day period unless you have over $25,000 in your trading account after you make the trade.
Forget trying to count the trading pairs in a 5 day period. When you buy a stock, just make sure you hold it overnight and don't sell it until the next day. You can even buy a stock 5 minutes before market close, then sell it at market open the next day.
As long as you have a margin account and you hold every stock you buy at least overnight, you will never have to worry about getting slapped with a trading restriction.
I use Scottrade as my stock trading company. When I sell stocks, they make me wait three days until the trade settles. After the three days, I can then buy stocks again. Is there any other stock trading company like Ameritrade, Etrade, Charles Schwab, FXCM, etc... that doesn't do this?
No. This is not a stock trading company rule. This is an SEC mandate which means every online brokerage firm does this. If you trade with cash, then you have to wait three days after the sell to allow the trade to settle.
You can bypass this by opening up a "margin" account with your brokerage firm. With a margin account, you don't have to wait three days for the trade to settle. But even with a margin account, you can make more than 3 consecutive trading pairs with in a 5 day period unless you have over $25,000 in your trading account after you make the trade.
Forget trying to count the trading pairs in a 5 day period. When you buy a stock, just make sure you hold it overnight and don't sell it until the next day. You can even buy a stock 5 minutes before market close, then sell it at market open the next day.
As long as you have a margin account and you hold every stock you buy at least overnight, you will never have to worry about getting slapped with a trading restriction.
I use Scottrade as my stock trading company. When I sell stocks, they make me wait three days until the trade settles. After the three days, I can then buy stocks again. Is there any other stock trading company like Ameritrade, Etrade, Charles Schwab, FXCM, etc... that doesn't do this?
No. This is not a stock trading company rule. This is an SEC mandate which means every online brokerage firm does this. If you trade with cash, then you have to wait three days after the sell to allow the trade to settle.
You can bypass this by opening up a "margin" account with your brokerage firm. With a margin account, you don't have to wait three days for the trade to settle. But even with a margin account, you can make more than 3 consecutive trading pairs with in a 5 day period unless you have over $25,000 in your trading account after you make the trade.
Forget trying to count the trading pairs in a 5 day period. When you buy a stock, just make sure you hold it overnight and don't sell it until the next day. You can even buy a stock 5 minutes before market close, then sell it at market open the next day.
As long as you have a margin account and you hold every stock you buy at least overnight, you will never have to worry about getting slapped with a trading restriction.
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