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Zecco.com » General Investing » New Investors » Buying Power
Last post 03-27-2008, 1:26 PM by FarmboyNate. 4 replies.
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  •  03-24-2008, 1:26 PM 25586

    Buying Power

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    I am typically long on stocks but decided to take a quick profit on WB last week.  I purchased WB on 3/17 (in the AM) then proceeded to sell it on the 19th (also the AM).  It says I have the cash but my buying power is yet to be updated. 

    When does the "cash" from the sale become available to become buying power?

    Thanks. 

  •  03-24-2008, 3:56 PM 25588 in reply to 25586

    Re: Buying Power

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    3 days after the trade.  I recently found this out too.

    You can apply for a 'margin', which is sort of like a loan or line of credit through Zecco for the same amount as you have in cash.  When you buy and sell, it will go against the margin instead of your cash, and the buying power will be updated almost instantly.

    BUT beware, as I've read Zecco and other online brokers will flag you as a day trader if you make more than 3 same day buy/sells in a rolling week.

  •  03-24-2008, 4:28 PM 25593 in reply to 25588

    Re: Buying Power

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    That's what I thought, thanks.  I guess with the holiday tossed in there it's a bit delayed.  I should have it tomorrow.  Thanks again.

  •  03-27-2008, 12:36 PM 25822 in reply to 25593

    Re: Buying Power

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    Phew, I was just about to ask this same question. 

  •  03-27-2008, 1:26 PM 25825 in reply to 25586

    Re: Buying Power

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    I noticed that when on a cash account if you bought something a week before and then sold it a week later your buying power was instantly updated on a cash and i could buy right after again.
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