/biz/ - Business & Finance

>>13433507
As far as I know, Robinhood is the only broker, that I've seen, that has that weird hybrid of you using your own cash + instant settlement by them.

In TDA, if you use your own cash and sell, the money from that sale won't be usable for 2 days, its like a cooldown timer. If you open a margin account with them, you can most likely have instant settles, but that comes with interest fees and a whole bunch of annoying shit (that RH does better with RH Gold, anyway).

Lastly, yes, it is as >>13433547 said, if you wanted a margin account or an options account, the broker would make you answer some questions and agree to some terms, they might even review your total holdings and trade history to determine.

Robinhood really does make all of this a lot simpler and smoother. The cons to Robinhood is that I've had some downtime with them at certain points when I've wanted to sell things (and everyone is having serverwide issues). The downside to TDA is that there's commission fees and settlement times, annoying if you're a fairly active trader with smaller capital.