@khalomani I literally logged on to ask the same question. I was really confused on that and I may be in a little bit of trouble here soon, based on some of the info here : /
Im noticing a month later that I didn't clarify something here. Cash accounts have the settled funds and "free ride" issues. You would also be under the PDT rule if your account is under $25000. A MARGIN account is different in that funds are available for purchase as soon as you sell and put those funds back in your account. I have a smaller margin account (PDT rule applies) and I have a larger Cash account (one of my IRAs). An IRA cannot be margined.
@khalomani I literally logged on to ask the same question. I was really confused on that and I may be in a little bit of trouble here soon, based on some of the info here : /
@rabbits6 Thanks for the info. Good luck & welcome back to trading!
@Travb0904 Yeah I was confused too. Robinhood seems as a good option. Have to do research before getting to anything. Good luck man!
Im noticing a month later that I didn't clarify something here. Cash accounts have the settled funds and "free ride" issues. You would also be under the PDT rule if your account is under $25000. A MARGIN account is different in that funds are available for purchase as soon as you sell and put those funds back in your account. I have a smaller margin account (PDT rule applies) and I have a larger Cash account (one of my IRAs). An IRA cannot be margined.
Join now or log in to leave a comment