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Fly high05/30/2020 14:56

$Genius Brands Can we sell and buy stock right away with unsettled fund in margin account less than 25k?

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JDGRec·05/30/2020 18:14

Here maybe this will help. if you put in 100.00 dollars and ur acct is under 25k You can buy a stock and sell it in the same day 3 times. in a rolling 5 day period. so if you buy a stock write down the date the 6th day from that trade it resets to 0 trades. u can only buy and sell a stock the same day 2 more times before that 6th day date u wrote down. the second time u trade In the same day write that date down . it will reset 5 days from that date so on the sixth day ur safe. do the same on the third trade. keep track carefully. if you buy a a stock and sell it the next day it doesnt count as a day trade. if u do go over the 3 trades in a rolling 5 day period what happens is they flag u as a daytrader and u have to call the broker to make them place the trade for u. u get to sell it but u cant sell it till the next day. it lasts for 90 days then it unlocks ur acct so u can place ur own trade. if its ur first time they will unlock ur acct and give u a warning. if its ur sec time then it will stay locked for 90 days and if u do it again after the 90 days they will lock u down again for another 90 days. You can call ur broker and they will tell u how many daytrades u have left if u dont know how many u have placed. they will also explain the rules on that. hope ive explained this the right way.

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Fly high·05/30/2020 18:55

Looks like you didn’t get my question. My question was about lets say I sold a stock and want to buy right away other stock with unsettled fund. Can i do that in margin account in Webull? RH does allows with no problem. I don’t know in webull

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Daddy Webucks·05/30/2020 16:25

I'm relatively new here, 4 months, but have noted the diff between RH and WB. On WB you might read up and take a screen shot of your day trade buying power before and after the sell. even when I had cash sometimes I reach the dtbp limit and cannot buy. in this case I was given a pop up message when attempting to buy with insufficient dtbp. So WB stopped me from doing something wrong. its stilla bit confusing so hopefully someone else more exp will answer this better.

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☆Hawn Shannity☆·05/30/2020 15:14

do not buy with unsettled funds. it will cause a good faith violation. You can buy and sell as much as you want with settled funds using a cash account

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Wild Ed·05/30/2020 18:20

my understanding is you can buy with unsettled funds but if you sell them before the funds settle you'll get a violation. Please correct me if I'm wrong because this is what I've done for the last month with no apparent problems

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IDTrader·05/30/2020 16:46

that's for cash accounts. with a margin account, you can trade with unsettled funds, but with a margin account under 25k, you're limited to 3 day trades in a 5 trading day period

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Fly high·05/30/2020 15:29

RH allows to buy in margin accounts without any problem

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M.C.DayDay·05/30/2020 15:10

You mean buy and then immediately sell? If so, yes HOWEVER comma you’ll use a day trade to which you are only allowed 3 in a 5-business-day limit. If you want to sell stock and buy aother immediately that shoudnt be an issue as long as your unsettled funds are available when you sell. that depends on Webull

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Fly high·05/30/2020 15:30

You didn’t get my question. Read my question one more time 😊

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Richard·05/30/2020 15:00

Takes a few minutes but after i make a deposit im usually able to trade with it before the next hr

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Fly high·05/30/2020 15:31

Have you ever done that buying with unsettled fund in margin account in Webull?

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Mr. Bojangles·05/30/2020 14:59

yes

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XP·05/30/2020 14:59

yes

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Fly high·05/30/2020 15:00

Have you ever done in webull account? I know RH allows to do that.

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