Beginning Investors Group Forum » question about tradeking's money market sweep

question about tradeking's money market sweep

anexsia Brokerage Account

Posted by anexsia on March 16, 2008 (07:03PM)

Hi,

I'm very new to investing and to tradeking.com and I just had a couple of questions about the "Money Market Sweep." I just created my account and have yet to transfer any money but have already sent an e-mail to request tradeking to turn on the "FDIC Insured Money Fund" option to be activated for my account (the one with I think a 1.87% interest rate).

Now does this mean any money I deposit into my account will automatically be entered into this fund and I'll make around a 1.87% interest? Also will the money always be ready to invest at a moments notice? Thanks

UPod Brokerage Account

Posted by UPod on March 18, 2008 (10:29AM)

Good questions. Unfortunately, I'm not sure about either of these. Can anyone else out here answer this?
anexsia Brokerage Account

Posted by anexsia on March 18, 2008 (05:12PM)

Nevermind, I figured it out, my deposits just went through and the money fund sweep was activated which apparently sweeps any available funds into the money market fund at 12am each new day.
UPod Brokerage Account

Posted by UPod on March 19, 2008 (01:40AM)

As far as the second question you aksed:

Also will the money always be ready to invest at a moments notice? Thanks 

 Let me know if this is actually the case

You must Log In to post to this forum.

Not a member? Register Now to …

  • See what other traders are doing
  • Make your own trades public
  • Share your thoughts on a trade
  • Join or start a group
  • Connect with like-minded traders