How do you manage your cash position with your broker?

IB lets you tag any, many, most positions as "Liquidate last" so that if possible during an automatic margin call those positions get liquidated last (which is fine for protecting positions you want to keep for tax purposes or whatever reason).

IB's full definition:

Liquidate Last​

Option [...] that lets you specify the positions that you would prefer IBKR to liquidate last in the event of a margin deficit.

Last liquidation "Yes" or "No" tag. If set to "Yes" this position will be put at the end of the queue to liquidate last in the case of margin requirements. To set, use the right-click menu on the desired position.

While IBKR will attempt on a best efforts basis to honor those requests, account positions and market conditions may make doing so impractical. IBKR therefore reserves the right to liquidate in the sequence deemed most optimal.

But IB does not have any similar setting, e.g., "Liquidate first", to implement what we want.... to first liquidate the "cash substitutes" (the money market funds, etc.). So we're just wondering if other brokers do in fact have something like that....

 

I will ask my broker Monday.

What if you have half of your positions tagged last?

 

I guess it depends on the exact positions held in one's account and the margins used.

I tag all of my options trades to be liquidated last but not anything else....

 

So if you tag all your positions except the mm fund, you should be OK? Your cash account will go first?

 

Yes, exactly. Except for me, I'd like another tier. After the cash substitutes would get liquidated, I'd want my bond, commodity, and equity etf's to go before my options.