Friday, April 16, 2010 8:30:45 AM
Laid off,
I too opened up a Zecco account and do not have a margin yet. It takes 3 days. If you buy the stock on Monday and sell on Tuesday, it should be there come Friday morning. Now, if you buy on Monday and don't sell till Thursday, they already had your money for 3 days and the money should still be there Friday. I called Zecco to find out what the deal was and they told me there is a 3 business day processing for the money to get to "broker".
So far it seems to be pretty accurate. I bought a stock on Friday and unloaded it Wed morning and had the money Thursday. I bought FRHV on Monday and unfortunately unloaded too late on Wed and don't expect to have my buying power updated till Monday.
I hope this helps
I too opened up a Zecco account and do not have a margin yet. It takes 3 days. If you buy the stock on Monday and sell on Tuesday, it should be there come Friday morning. Now, if you buy on Monday and don't sell till Thursday, they already had your money for 3 days and the money should still be there Friday. I called Zecco to find out what the deal was and they told me there is a 3 business day processing for the money to get to "broker".
So far it seems to be pretty accurate. I bought a stock on Friday and unloaded it Wed morning and had the money Thursday. I bought FRHV on Monday and unfortunately unloaded too late on Wed and don't expect to have my buying power updated till Monday.
I hope this helps
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