Re:Robinhood: At a Play Store Near You
by roymurdock on Thursday August 13, 2015 @11:26AM
(#10054917)
Sure, if you have enough settled funds to make 10 substantive trades in a day.
Say you have 10k of settled funds in your account. You can make a total of 10 $1k trades of SPY throughout the day, or 100 $100 trades. Your account is effectively frozen for the next 3 days as the trades "settle" and you are unable to do anything with them. So you would have needed to cash out of your bank 3 days prior to have active funds ready to go for the next day.
AKA Robinhood gets 2-3 days to earn interest on your unsettled/uninvested funds.
Say you have 10k of settled funds in your account. You can make a total of 10 $1k trades of SPY throughout the day, or 100 $100 trades. Your account is effectively frozen for the next 3 days as the trades "settle" and you are unable to do anything with them. So you would have needed to cash out of your bank 3 days prior to have active funds ready to go for the next day.
AKA Robinhood gets 2-3 days to earn interest on your unsettled/uninvested funds.