To make this as short as I can here is the Issue at hand: I opened a cash account with IB on mon. and after 3 (round trip)trades IB informs me that I cannot trade again for 3 days. Why 3 days u ask? Well according to IB the trades have not setlled yet, and until they do settle the cash is not available to me to make trades with. Now at this point I will take a deep breathe and calmly ask for feedback b/c it is possible that I do not see an angle here and IB is in fact dead on correct in this. ...(pigs may fly out of my ass 2) As i see it though this makes no friggin sense. Cause to the best of my understanding (i could be wrong) settlement date is merely the day on which by cash is required to settle the trade! (imagine that) now i may not be the greatest at logic but I will give it a shot: I buy 100 shares of a stock @ $40 =$4000 and i sell the 100 @ $39 =$3900 now my logic says that IB seeing that net I lost 100 dollars would then proceed to remove a 100$ from my account to cover the amount needed to settle the trade since (again MY logic) tells me that the shares i sold would cover the other $3900... or is there someone out there to who it makes sense to pay a man $4000 when he owes you $3900 ? Now to the best part according to IB (man i am pissed off) for them to allow me to trade with that $3900 is to allow me to trade on margin!! Yes!! YEs FOr me to trade with my own cash is to trade on margin!! b/c in their moron world they have already paid out the cash to BUY the stock BUT BUT they must wait 3 days to get the proceeds form the sale!! My fucking head is spinning! Is it me? I mean am I dreaming here? somebody explain to me the flaw in my logic please! cause i cannot believe a place with this level of stupidity actually has my money! Actually runs a business! I would greatly appreciate feedback just to assauge my poor head that i have not gone completly insane. I am quite pissed but would really like to know how IB is correct in effectively insuring that no cash accounts daytrade with them.