I use Fidelity. Their policy is, cash requires
Post# of 41413
Posted On: 03/04/2015 9:56:46 AM
I use Fidelity.
Their policy is, cash requires 3 biz days to clear/settle, before one can buy anything from the OTC Markets.
Three tiers: OTCQX, OTCQB and OTC Pink
http://www.otcmarkets.com/learn/otc-market-tiers
They told me it does not matter if the PPS is a penny, a dollar, the amount of cash to be settled, if it's one of the OTC, you have to wait, for NYSE, Naz....trade immediately.
I have on occasion called, asked them to place a BLTA trade immediately, keep the 7.95 cost vs I think 35.00 when an agent does it, and they have accommodated me several times, but said, please don't make a habit of it.
Hope this helps...
Their policy is, cash requires 3 biz days to clear/settle, before one can buy anything from the OTC Markets.
Three tiers: OTCQX, OTCQB and OTC Pink
http://www.otcmarkets.com/learn/otc-market-tiers
They told me it does not matter if the PPS is a penny, a dollar, the amount of cash to be settled, if it's one of the OTC, you have to wait, for NYSE, Naz....trade immediately.
I have on occasion called, asked them to place a BLTA trade immediately, keep the 7.95 cost vs I think 35.00 when an agent does it, and they have accommodated me several times, but said, please don't make a habit of it.
Hope this helps...
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