All things STOCKS

#3,804
#3,804
Carp said:
I have to wait till funds settle, so it'll be Monday before I buy anything else, but I'm glad to be out of Groupon nonetheless.
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you have a cash account I presume?

Can't you just buy the SAVE anyway with the unsettled funds? You would only get a GFV if you sell SAVE before the funds settle, but assuming the funds settle by next Tues (or there about), I doubt you will have sold SAVE by then
 
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#3,806
#3,806
VolAllen said:
Oh fml...why is that? No such thing on Robinhood....🤨
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I've read that you can get a cash account on RH, but I think you have to ask them (and I heard that they make less money off of those accounts, so they don't like to give them out for the most part). This is just what I've read on a few occasions, though. I haven't seen anything official from RH
 
#3,807
#3,807
DocVOLiday said:
I've read that you can get a cash account on RH, but I think you have to ask them (and I heard that they make less money off of those accounts, so they don't like to give them out for the most part). This is just what I've read on a few occasions, though. I haven't seen anything official from RH
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I don’t understand. They’re all cash accounts unless you buy with margin. I don’t buy with margin lol
 
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#3,808
#3,808
VolAllen said:
I don’t understand. They’re all cash accounts unless you buy with margin. I don’t buy with margin lol
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I think technically it's not a cash account (even though you're not using margin) since you have instant access to your money (whether from selling securities or depositing), whereas with an actual cash account, I think you'd have to wait for those funds to settle (T+2 days in general, I think). Somebody can correct me if I'm wrong

the below excerpt from Robinhood Review - Trading Accounts Reviewed, Incl App And Platform

Robinhood offers three different account types:

  1. Standard account – When you register you will automatically be given this account. It grants you access to instant deposits. On top of that, you won’t have to wait for your money to process when trading stocks and making deposits of up to $1,000.
  2. Gold account – This upgraded account gives you extra buying power, greater instant deposits, plus extended trading hours. Because it is a margin account, you will need to hold a minimum balance of $2,000. Gold reviews are positive, with customers enjoying the benefits that come with a margin account and more trading hours. Gold account price will vary depending on which tier you select. You will pay a flat monthly fee based on margin. It’s worth noting trading on margin can be risky. In fact, you may lose more than your initial investment.
  3. Cash account – The cash account enables you to place commission-free trades in equities, without instant deposits and settlements. Note you can also downgrade to a cash account from the standard Robinhood account and Gold account.
Click to expand...
 
#3,809
#3,809
DocVOLiday said:
I think technically it's not a cash account (even though you're not using margin) since you have instant access to your money (whether from selling securities or depositing), whereas with an actual cash account, I think you'd have to wait for those funds to settle (T+2 days in general, I think). Somebody can correct me if I'm wrong

the below excerpt from Robinhood Review - Trading Accounts Reviewed, Incl App And Platform
Click to expand...

Man, I wouldn’t make any money day trading if I had to wait on it to settle or whatever.
 
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#3,818
#3,818
DocVOLiday said:
I think technically it's not a cash account (even though you're not using margin) since you have instant access to your money (whether from selling securities or depositing), whereas with an actual cash account, I think you'd have to wait for those funds to settle (T+2 days in general, I think). Somebody can correct me if I'm wrong

the below excerpt from Robinhood Review - Trading Accounts Reviewed, Incl App And Platform
Click to expand...
I have a RH as a second small account. My only complaints is PM not starting untill 9am and AH ending at 6. Also OTC or warrants aren't available.
 
#3,819
#3,819
Orange_Vol1321 said:
I have a RH as a second small account. My only complaints is PM not starting untill 9am and AH ending at 6. Also OTC or warrants aren't available.
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I thought they’d have to open up earlier hours after what happened a few months ago, just to keep us from jumping to WeBull. Gotta be more to it considering all of the trading platforms start and stop at different times. Wonder if SEC makes them do that or something?
 
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#3,823
#3,823
JFreak said:
Ugh markets are closed tomorrow. Guess I'm gonna have to like.. do things around the house.
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Wife has invited some friends over to the pool and to grill some steaks.

I am being a responsible citizen to reduce the COVID risk by telling her we dont need too many people over and to invite only her attractive friends. Ha ha.

I think she caught on to my scheme though.
 
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#3,825
#3,825
DocVOLiday said:
you have a cash account I presume?

Can't you just buy the SAVE anyway with the unsettled funds? You would only get a GFV if you sell SAVE before the funds settle, but assuming the funds settle by next Tues (or there about), I doubt you will have sold SAVE by then
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IRA account on Schwab.

We're saving up money to do some renovations on the house, so I can't add much to my cash account right now. This is from an old 401k anyways that didn't have much in it. I thought I would see what I can do with it.
 
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