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re: Online Trading Sites

Posted on 1/21/13 at 6:54 am to
Posted by Lsut81
Member since Jun 2005
80244 posts
Posted on 1/21/13 at 6:54 am to
quote:

I can give them a check in the afternoon, it's in my account that night, and I can trade the next day.


Question about funding... I've always just done the bank transfer via their website and if you have to do that, even though the funds show up in your account immediately, you're not allowed to use those funds for 3 days.

Is it different if you drop off a check at the office? If not, is that a regulatory thing that all sites have?
Posted by matthew25
Member since Jun 2012
9425 posts
Posted on 1/21/13 at 11:23 pm to
ds1tiger - Yes, they were quick. Call them up and tell them you are considering moving to a cheaper wire house. If they don't come off their current fee, Scott is just as good. (Scott has a feature on the home page where you can watch potential trades you are following).

When you go to Scott, tell them you want the free stock/ETF trades for 90 days, and 10 mutual fund trades ($17 each). I used about 8 stock trades and all of the MF trades.
Posted by Chris Farley
Regulating
Member since Sep 2009
4180 posts
Posted on 1/22/13 at 8:25 am to
quote:

Question about funding... I've always just done the bank transfer via their website and if you have to do that, even though the funds show up in your account immediately, you're not allowed to use those funds for 3 days.


This should only occur for non-marginable securities (stocks under $4), anything else should be fine to trade.



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