Forum » TK Questions » What up with the 3 day hold on the stock you sold?

What up with the 3 day hold on the stock you sold?

russianguy131518 Brokerage Account

Posted by russianguy131518 on May 28, 2009 (01:44PM)

When you sell a stock, why do you have to wait 3 days for it to settle? Is this only at TradeKing or is it a SEC regulation?
BeretDude Brokerage Account

Posted by BeretDude on May 28, 2009 (02:56PM)

It is indeed a SEC regulation.  TK  only abides by it.  For more explaination of the Settlement Rules, just put that into the search box right  above your post here.

Owl Brokerage Account

Posted by Owl on May 29, 2009 (10:08AM)

Russian, get a margin account so you don't have to wait for settlement to trade again.
russianguy131518 Brokerage Account

Posted by russianguy131518 on May 29, 2009 (10:23AM)

Thanks, never knew about that. How do you set up a margin account?
irishneal11 TradeKing Staff Member

Posted by irishneal11 on May 29, 2009 (11:16AM)

Good Morning Russianguy1

You need to fill out a margin agreement form.  The margin agreement can be accessed from the Apps & Forms page located on the Services Tab and faxed to us at 561-988-0131 or scanned and sent as an email attachment to service@tradeking.com.  Please note that under Federal Rules there is a $2000 minimum equity level to qualify for margin trading.

Regards

Neal Atkins- TRADEKING -Supervisor E-Communications

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