Re: Brokerage firms.
in response to
by
posted on
Mar 25, 2008 07:15AM
TD does not let you buy OTB stocks on margin. They wait until the money has cleared to be able to process (and it is three business days after you make the request..something to keep in mind going forward). I suspect that you did not perform a wire transfer from your bank but instead used the transfer funds that are linked to your bank account (I have not performed the wire transfer yet..as it will cost you a little money..and it probably takes sometime to clear as well..
Personallly, I think the 3 day rule for the normal transfer is B.S. - as the funds clear my bank on one end..and it needs to sit on their end for multiple days..