Thursday, November 6, 2014

Vanguard brokerage account stock trade takes days for funds to settle... is this normal?


I've been getting out of my comfort zone, doing some speculative investing.


Made one trade, opened and closed my position in less than 24 hours, made 18.5%! Excited, I wanted to open another position.


Vanguard warns me that I need to wait for the settlement date before I close my new position otherwise I'm in violation of some law and could have restrictions put on my account. The settlement date was almost a week away!


Is this standard for all regular brokerage accounts? Is it expensive or otherwise restrictive to get into an account that settles more quickly?




EDIT : Turns out it's because my account isn't yet set up for margin! I was meaning to get around to that soon. Thanks everybody!







Submitted November 06, 2014 at 12:35PM by A_Cunning_Plan http://ift.tt/1y9HAMp

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