Hi, I just got interested in trading few weeks back, and its been 3 weeks actually, I started using robinhood, I made a $200 loss at first, but than made a $4000 profit from various trades. I been using robinhood but literally its a pain because It takes 4-5 trading days for the money to appear to your robinhood account, and than after u buy a stock and when u sell it, u have to wait 3 days for the funds to settle, than if u wish to transfer that fund back to your Bank account, it has a 5 day wait period to prevent anti laundering, and after that is over, You will see your money in ur bank account in 2-3 days. I cant also trade pre market or sell shorts, because robinhood dosent allow, Also sometimes the quotes are a bit delayed, i mainly use yahoo finance for quotes. I was thinking about TD ameritrade, what do you guys use? I never used other brokers, can u briefly give a review? As in how fast money transfers, is there a 3 day wait + 5 day + 2 day wait for money to be transferred to your bank account? How much time does it take for the money to be transferred to your broker from the bank?
Thanks!
Happy Trading!!
Well... it actually isnt too bad. All other brokers besides suretrader... you CANNOT daytrade unless you have $25k in your account. Once you daytrade more than I believe... 3 times in a week, you can't daytrade for 90 days.
Tim uses Interactive brokers $10000 to open and $3000 under Age 26 to open and e*trade $2200. Interactive bokers is good for shorting stocks under $2 a share and E*Trade shorts over $3. Sounds like all brokers a limiting day trades so more than one account can help.
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