Hello everyone, This is my first time in the forums! I have been with zecco for a few months now and I really dislike the fact that when I sell my stock, I have to wait 3 days to get "Buying Power". I know that if I trade stock on margin with them it is something closer to T+1 or maybe even instantaneously (not sure). Anyways, I wanted to know if OptionsHouse and TradeKing gave you cash balance immediately so that you could buy stock right after you have sold a different stock. Basically, I just want two things.. 1. Orders get executed right away 2. I get my money back right away so I can buy a different stock Thanks so much!
Stock trades settle T+3 and there's no way around this. If you want instant access to the proceeds then you need to open a margin account.
If I trade with optionshouse, do they have fast in and out execution of trades? If they do, that along with there per contract structure Im going to use them. Thank you in advance!
Learn the government rules set by the Security Exchange Commision for cash accounts and margin accounts. The rules are government enforced and therefore are the same with every broker. You need to do alot more research before making any decision on what broker to use. Explore the fine print posted at the bottom of every online broker page. If you see a term or abbreviation you are not familiar with, google it and learn everything about it. This thread is more appropiate for the education forum. P.S. I just noticed at OptionsHouse in the fine print: Interesting.