Stock settlement date?
Question:
If I bought 150 of xyz stock at $2 and sold it at $3
Will the profits only be in my account when the stock settles in 3 business days?
I am with e trade. I am a newbie trader.
Thanks!
Answer:
If you have a margin account, you can trade immediately with the money. Don't be classified as a pattern daytrader, you can get a margin call. Exceptions are if you have over $25,000 in your account.
With a cash account the settlement date is usually three business days after the trade was executed.
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