The money for the trade is not cleared for 3 days. Don't see how you used the money from the sale without it being cleared. Optionsxpress will sometimes clear the funds for a stock sale if it was not bought in the same day. They will always clear options sold but not bought in the same day.
yes.. that is e trade and even TDA sometimes has people wait for T+3.. before they will let you take cash out or purchase new shares.. its called a 'free riding rule' (look it up).. people without either a margin account with a free balance or more cash in the account for a cash account, must wait for the Trade to settle plus 3 days following the trade. Its an SEC & Federal thing.. been around forever.. too. it was put in place to keep people from being able to ride for free shares they bot, sold and then took money they haden't yet received be used to buy more stock.. hope this helps. peace stok
If you don't have margin you can only trade sell and trade a stock 3-5 times per week. If exceed this you get suspended. Need more then 25,000 for a margin acct.
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