Attention traders

[crondanet5]

Did your brokerage firm advise you of the change in time a stock is held before being cleared and your money is available to withdraw or trade again? Fidelity advised it has gone from T + 3 to T + 2. Love it.

[John316]

Vanguard did the same. About time I suppose. In this day of super fast computers 3 days felt like an eternity waiting on the clearing house. Hope we get to one day soon.

[WhyMe]

Yep I got a notice from Vanguard about 2 weeks ago. Should have happened years ago if you ask me.

[cswift01]

Did your brokerage firm advise you of the change in time a stock is held before being cleared and your money is available to withdraw or trade again? Fidelity advised it has gone from T + 3 to T + 2. Love it.

This is interesting. I sold some stock the other day and it took them just a few hours to put the money in my account to trade again (mind you that I couldn't actually get the cash for a few days).

This was with Fidelity.

[Timber82]

cswft, typically that is what happens, when you sell a position the broker will typically credit your account for the sale but that money is not truly yours until the funds clear which is now 2 days.

[locklarp]

Yes, Schwab let us know a couple of weeks ago.

[felix]

Yep I got notified by my firm about the same time.

[mindofmush]

Some brokers (like Interactive Brokers) allows your IRA account to be a special margin account instead of a cash account. You still can't short stocks or buy stock on margin(loan) because of IRA regulations but you can get instant settling of trades, no waiting for 3 days (now 2 days) before trading again.

I don't know if cswift01's Fidelity account is set up as an IRA margin account but mine with IB certainly is.

[Winner]

This happen to me when it consider me as day trade. Day Trade => Buy and sell on the same day and execute for more than 3X per week for an account under 25K. If over 25K the money release immediately.

[crondanet5]

I'd call you a Daily Trader.

They never refuse a commission.