3 ms·
Sure. And? It used to be the case (only a couple years ago--) that you had to have an account worth at least $10k and at least represent that you had some exp
by nullc 6y ago
Sure. And? It used to be the case (only a couple years ago--) that you had to have an account worth at least $10k and at least represent that you had some experience to get approved for margin at most brokerages.
Although it's been a long time, I spent the first decade with a trading account without margin just fine.
- ziml77 6y agoAs far as I know Robinhood only lets you trade on margin if you have a pending transfer of money in. They also have a very low limit on that of $1000.
- MattGaiser 6y agoIt is also margin trading if you buy and sell before settlement. Buying a stock, selling it a day later, and using the funds to buy something else requires a margin account. https://www.fidelity.com/learning-center/trading-investing/trading/avoiding-cash-trading-violations https://www.fidelity.com/learning-center/trading-investing/t...
- kllrnohj 6y ago> It is also margin trading if you buy and sell before settlement Not always, see situation #3 https://www.sec.gov/oiea/investor-alerts-and-bulletins/ib_cashaccounts https://www.sec.gov/oiea/investor-alerts-and-bulletins/ib_ca... You need margin to engage in day-trading, but you can sell a settled stock & immediately use the funds to buy something else just fine as long as you then hold onto that purchase for 2 days.