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In which case I can understand you not being able to buy, because you are buying on margin. That is not what I'm talking about though. I'm talking about 100% c
by pfisch 6y ago
In which case I can understand you not being able to buy, because you are buying on margin.
That is not what I'm talking about though. I'm talking about 100% cash.
If you are trading on margin you can get margin called. If you aren't though your broker has no right to do this kind of stuff.
You are suggesting the casino would grab the ball for people who were not using amex. Deeply illegal.
- kasey_junk 6y agoAre you suggesting RH should have only restricted new positions to people that A) hadn’t added new money to their accounts and also B) hadn’t liquidated any other positions in the last 2 days? I suppose you could make that argument and if you wanted to encode that as law I wouldn’t vote against it, but recognize it’s going to manifest in brokerage behavior where you can’t trade as fast or you have to keep more cash in your brokerage account. [edit] I’d also love for you to cite what law a casino would be breaking by shutting down a game mid roll because I have no direct experience there but my mental model is that Casinos have wide latitude on allowing the games to run or not.
- pfisch 6y agoI mean most normal brokerage accounts clearly show you when you are buying on margin and exactly how much settled cash you have to trade with. This is not unreasonable, and as far as I am aware is the status quo.
- kasey_junk 6y agoBoth my Vanguard and Fidelity brokerage account lets me immediately trade with funds from trades prior to them settling with the DTCC. I don’t see any indication in their GUI (maybe I’m missing it?) that the trades are anything but complete once the orders are filled.