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rmc0315
rmc0315 Feb 01, 16 6:50 PM

I just tried Robinhood and sold my positions this morning... I still don't have access to trade with the proceeds. I don't know if this is typical, but it kind of stinks if you want to dump a loser and switch your funds over to arising stock quickly. Am I missing something?

Rollingball
1
Rollingball Feb 03, 16 10:35 AM

@rmc0315 PDT rule. 3 days before you can use funds to enter a new position. Robinhood calls this "Unsettled Funds" It is supposed to protect investors from losing everything they have when they have small accounts.

rmc0315
rmc0315 Feb 03, 16 1:57 PM

@Rollingball thanks for the heads-up! I've been trading with my USAA Brokerage account because I thought Robinhood was too slow to release my funds. I just got a "Good Faith Violation" warning. Evidently my USAA account has the same waiting period too, I've just been trading with the unsettled funds. I just got warned... All things considered, Robinhood is looking better and better

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