I’m confused over the freeride law, from what I THINK I understand is; you are not allowed to SELL a stock you bought on money that hasn’t gone thought the T + 3.
Now I’ve been using SoGoTrade.com for a few weeks now, and I’ve just noticed when I sell a stock that the money from the sale once the order has been filled shows up right away (in the “cash balance” and the “buying power” area). It doesn’t go into the unsettled funds area, I was just wondering if I’m missing something or is SoGo doing something they’re not supposed to. I know my account is listed as cash and not margin.
Thanks.
Now I’ve been using SoGoTrade.com for a few weeks now, and I’ve just noticed when I sell a stock that the money from the sale once the order has been filled shows up right away (in the “cash balance” and the “buying power” area). It doesn’t go into the unsettled funds area, I was just wondering if I’m missing something or is SoGo doing something they’re not supposed to. I know my account is listed as cash and not margin.
Thanks.