Re:What Economists Still Don’t Get About the 2008 Crisis
by mi100hael on Monday July 30, 2018 @08:25PM
(#17649526)
It's a legal requirement to some extent unless you have a margin account. Funds take two days to settle. If you sell, buy, and sell again within two days, your account can be suspended for violating SEC rules.
https://www.ally.com/do-it-right/investing/what-are-unsettle...
Re:What Economists Still Don’t Get About the 2008 Crisis
by fallingfrog on Monday July 30, 2018 @07:08PM
(#17649024)
I see! Good to know. Still, I'm inclined to believe that more people are in my tier of service than are in yours.
No, but they have different tiers of service. In my account, for example, I can sell and purchase intraday. They do what they do for my personal account, which is credit the cash intraday. TL; DR This is not a legal, but contractual, requirement.